Checkers (Dark)

4701 South Damen Avenue, Chicago, IL 60609

$1,350,000

Cap Rate 7.17%

Views: 89 Updated: 12.04.23 Posted: 10.27.23 Status: Inactive

Summary

Price $1,350,000	Built/Renov 2015	Tenant Checkers (Dark)
Cap Rate 7.17%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 938	Lease Start 10-30-2015	#Units 821
Price/SF $1,439.23	Expiration 10-29-2029	Tenant Type Fast Food/QSR
NOI $96,800	R. Term 4.11	Ownership Fee Simple
Rent/SF $103.20	Increases 10.0%/2/yrs	Pop 5Mi 887,022
Lot/AC 0.34	Options 6/5yrs/10%	AHHI 5Mi $68,346

Lease Highlights

Checkers is currently a dark location with 5+ years remaining on the current lease term with 6 (5-year) options to extend
Lease features 10% rental increase every 5 years throughout the initial term and at the start of each option
Absolute NNN | Zero landlord responsibilities
Corporate guarantee by Oak Hill Capital Partners

Location Description

Checkers is strategically located at the signalized, hard corner intersection of S Damen Ave and W 47th St., with a combined daily traffic count of 20,000 vehicles per day. The property is part of a thriving retail corridor adjacent to Yards Plaza Shopping Mall, with nationally recognized tenants, including Burlington, Planet Fitness, Food 4 Less, Taco Bell, Burger King, and more....

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Key Features

Signalized intersection
Hard corner intersection
Dense retail corridor
Near major nationals
Strategically located
Dense 200M+ pop 5 mi
Top 100 MSA
Absolute NNN
Corporate Guarantee
Over 500 units backed

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Links

Checkers Wikipedia Checkers Wikipedia Chicago, Illinois Zip Code 60609 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Checkers
Guarantor:Corporate
Company:Oak Hill Capital Partners
# Units:821
Stock:Private

About Tenant

Checkers is a drive-in chain that offers hamburgers, hot dogs, french fries, milkshakes, and other fast food products through its chain of restaurants under the brand names Checkers and...

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Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	44,148	318,864	859,912
2023 Total Population :	45,244	325,971	872,261
2023 Employed Civilian Pop :	17,518	127,753	370,424
2023 Total Businesses :	640	5,225	17,287
2023 Average Household Income :	$ 56,027	$ 65,313	$ 78,494
2023 Total Consumer Spending :	$ 674 M	$ 6067 M	$ 22296 M
2023 Median Age :	28	32	33
2023 Total Households :	13,774	106,647	326,164
2023 Pop Age 25+: Bachelor's Degree :	1,676	23,113	88,298
2023 Average Home Value :	$ 240,051	$ 273,728	$ 308,211

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
West 47th Street	S Damen Ave	2018	11,800	0.04 mi
S Damen Ave	46th St	2002	19,900	0.20 mi
South Damen Avenue	W 71st St	2022	11,000	0.23 mi
W 47th St	S Paulina St	2014	14,600	0.32 mi
	S Honore St	2022	950	0.42 mi
West 47th Street	S Oakley Ave	2022	16,800	0.45 mi
S Damen Ave	Alley	2014	6,200	0.47 mi
West 47th Street	S Ashland Ave	2018	22,800	0.47 mi
	S Ashland Ave	2022	20,100	0.49 mi
West 47th Street	W 47th St	2022	16,800	0.51 mi

Listing Broker

Calvin Short

Berkeley Capital Advisors

Contact

187 Listings
28670 Views
23 Sold

Aron Cline

Berkeley Capital Advisors

Contact

177 Listings
27655 Views
21 Sold

Calvin Short

Calvin Short joined Berkeley Capital Advisors in 2021 and leads the West Coast capital markets group. Since joining Berkeley, Calvin has been a part of closing 1,400 separate transactions with $4 billion in sales volume. Prior to Berkeley, Calvin served as Senior Vice President at Matthews REIS where he was consistently ranked within Matthews’ top five producing agents. In 2012, he graduated from The University of San Diego with a B.A. in Real Estate Finance. Calvin has spent the past 10 years

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Aron Cline

Specializing in Single Tenant Net Lease and Shopping Centers, Aron Cline leads Berkeley Capital Advisors’ West Coast Office. Since 2011, Aron has been actively engaged in the commercial real estate space. Over the last decade, he and his team have been regarded as one of the most active brokerage teams in the country - having brokered over 1,300 transactions totaling $3.5 billion. His dedication and success have earned him the trust of some of the country’s top institutions, developers, high ne

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