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Restaurant

IHOP

2430 173rd St, Lansing, IL 60438

Listing Price: $3,078,000

Cap Rate
5.85%
Tenant Name
IHOP FRANCHISOR LLC
Years Remaining On Lease
16.0
Gross SF
4,909
Guarantor
Franchisee Guarantee
Rentable SF
4,909
Price/Gross SF
$627.01
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.67

Investment Overview

IHOP® competes in the Family Dining segment of the restaurant industry, and all IHOP restaurants are owned by independent franchise operators. For 57 years, the IHOP family restaurant chain has served its world famous pancakes and a wide variety of breakfast, lunch and dinner items that are loved by people of all ages. IHOP offers its guests an affordable, everyday dining experience with warm and friendly service. The Village of Lansing is a southern suburb of Chicago located in Cook County, Illinois. Spanning approximately seven and a half square miles, Lansing is home to an estimated 27,400 residents. Lansing boasts a small town charm with the convenience of being less than an hour away from one of the country’s largest cities. The village is bordered by Indiana to the east.

Investment Highlights

  • 16 Years Remaining on Absolute Triple-Net (NNN) Lease Term
  • 10 Percent Rental Increases Every Five Years
  • 237,264 Residents Within a Five-Mile Radius - Dense Trade Area in the Chicago MSA
  • Guarantor is One of the Largest Franchisee and Developers of IHOP Restaurants in the U.S. - Over 110 Locations
  • Situated Immediately Off the I-94 Freeway (Over 178,400 Cars per Day), Providing Direct Access to Chicago
  • Located Within a Major Retail Corridor - Tenants Include Walmart, The Home Depot, Planet Fitness, Sam's Club, ALDI, Wendy's, and More
  • Positioned Off Torrence Avenue with 22,100 Cars per Day
  • Strong Daytime Population - Over 217,150 Employees in Surrounding Area

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Financing By

Listing Price: $3,078,000

Cap Rate
5.85%
Tenant Name
IHOP FRANCHISOR LLC
Years Remaining On Lease
16.0
Gross SF
4,909
Guarantor
Franchisee Guarantee
Rentable SF
4,909
Price/Gross SF
$627.01
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$36.67

Investment Highlights

  • 16 Years Remaining on Absolute Triple-Net (NNN) Lease Term
  • 10 Percent Rental Increases Every Five Years
  • 237,264 Residents Within a Five-Mile Radius - Dense Trade Area in the Chicago MSA
  • Guarantor is One of the Largest Franchisee and Developers of IHOP Restaurants in the U.S. - Over 110 Locations
  • Situated Immediately Off the I-94 Freeway (Over 178,400 Cars per Day), Providing Direct Access to Chicago
  • Located Within a Major Retail Corridor - Tenants Include Walmart, The Home Depot, Planet Fitness, Sam's Club, ALDI, Wendy's, and More
  • Positioned Off Torrence Avenue with 22,100 Cars per Day
  • Strong Daytime Population - Over 217,150 Employees in Surrounding Area

Investment Overview

IHOP® competes in the Family Dining segment of the restaurant industry, and all IHOP restaurants are owned by independent franchise operators. For 57 years, the IHOP family restaurant chain has served its world famous pancakes and a wide variety of breakfast, lunch and dinner items that are loved by people of all ages. IHOP offers its guests an affordable, everyday dining experience with warm and friendly service. The Village of Lansing is a southern suburb of Chicago located in Cook County, Illinois. Spanning approximately seven and a half square miles, Lansing is home to an estimated 27,400 residents. Lansing boasts a small town charm with the convenience of being less than an hour away from one of the country’s largest cities. The village is bordered by Indiana to the east.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

Financing By

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