Forno Rosso

1048 W Randolph St Chicago , IL 60607

Forno Rosso - Retail for sale

Overview


JLL is pleased to offer for sale the fee-simple interest in a single-tenant retail condominium leased to Forno Rosso (the “Tenant”) located in Chicago’s rapidly-growing Fulton Market neighborhood. Located within one of the fastest growing and developing neighborhoods in Chicago, the Tenant is on a 10-year triple NNN lease with approximately 6.2 years of lease term remaining and no landlord responsibilities. The Asset features frontage and visibility at the intersection of Aberdeen Street and Chicago’s famous Randolph Street. The Asset sits directly adjacent to McDonald’s new corporate headquarters.

Investment Highlights



Asset features frontage and visibility along Chicago's popular Randolph Street in “Restaurant Row”

Adjacent to the Asset is McDonald’s brand-new world corporate headquarters

The surrounding area features strong demographics with a daytime population base of over 200,000 workers within a one-mile radius

The Asset features below market rent at $34.29 on a NNN basis with minimal landlord responsibilities

The tenant has a NNN lease with 6.2 years of remaining term, and one, five-year option to renew

Within one-mile radius of the Property, the population is approximately 51,764 residents with an average annual household income of $136,456

Located on the edge of Chicago's Loop neighborhood, the burgeoning Fulton Market is a neighborhood with a constant stream of new developments being proposed and constructed.

General
Property Type Retail
Property Subtype Single Tenant / Standalone
Tenure Type Sale / Purchase
Property Address 1048 W Randolph St, Chicago, IL 60607-2215
Financial
Price Confidential
Cap Rate Confidential
Lease
Tenant's Name Forno Rosso
Lease Type NNN
Lease Expiration Date 12/31/2024
Remaining Term 5.7Yrs
Download Offering Memorandum

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