800 South Waukegan Road
Waukegan, IL
Property Highlights
Long Term Lease With Rental Escalations: 15 year Ground Lease with 10% rental escalations every 5 years.
Ideal Demographics: Located within the Chicago MSA with 167,000+ people within 5 miles of the location.
Steps Away From Chicago’s Recently Approved Casino: Literally steps away from the approved American Place Casino (1,640 slot machines and 100+ table games, sports betting, a 1,500 seat entertainment venue, 20 room boutique hotel and a heliport.) American Place will transform Waukegan’s Fountain Square into an unrivaled, upscale gaming and entertainment destination. Visitors will escape into a world of grandeur meant for the most discerning players. American Place will feature a world class casino, multi-tiered entertainment venue, and mouth-watering cuisine. A private Italianate villa will welcome its most elite players to stay overnight.
**Casino project subject to change, delay or cancellation. Buyer shall conduct their own research on approved project.
Corporate Guaranty: Lease carries a corporate guaranty.
Ideal Passive Investment: Ground Lease presents zero landlord responsibilities, the ideal investment for a 1031 buyer.
Tremendous Traffic: Easily accessible from Belvidere Road and Highway 41 (Combined 70K+ VPD.)
Signalized Corner Outparcel to Walmart: A traffic signal at the corner of the parcel makes for easy ingress and egress.
Excellent Retail Corridor: The property is surrounded by many national brand tenants including: Starbucks, Marshalls, Potbelly, Dollar Tree, Denny’s, McDonald’s, ALDI, Buffalo Wild Wings, Chili’s, LA Fitness, Chipotle, AT&T, Jersey Mikes, Holiday Inn Express, Marriott, Hampton Inn and Candlewood hotels
Property Information
- Property: Sold May 2022 – Raising Cane’s – Waukegan, IL
- Price: $3,250,000
- Building Size: 3,200
- NOI: $130,000
- Lease Type: Absolute NNN Ground Lease
- Tenant: Raising Cane's
- Status: Available
