Chuck E. Cheese (GL)

3250 Chicagoland Circle, Joliet, IL 60435

$2,898,000

Cap Rate 7.40%

Views: 64 Updated: 05.16.23 Posted: 05.16.23 Status: Inactive 07.20.23

Summary

Price $2,898,000	Built/Renov 2007	Tenant Chuck E. Cheese (GL)
Cap Rate 7.40%	Lease Type Abs NNN	Guarantor Corporate
Size/SF 12,448	Lease Start 01-29-2007	#Units 569
Price/SF $232.81	Expiration 01-31-2032	Tenant Type Casual Dining
NOI $214,500	R. Term 7.2	Ownership Ground Lease
Rent/SF $17.23	Increases 10.0%/4/yrs	Pop 5Mi 185,778
Lot/AC 1.08	Options 1/5yrs/10%	AHHI 5Mi $111,094

Lease Highlights

Chuck E. Cheese has a 16+ year operating history at this location
The tenant has 8+ years remaining on its current term with 1 (5-year) option to extend
The ground lease features a 10% rental increase every 5 years
Absolute NNN lease | Zero landlord responsibilities
Corporate guaranteed by CEC Entertainment, LLC.

Location Description

The subject property comprises a 12,448 SF building on a 1.08-acre parcel located on Chicagoland Circle, which is easily accessible from Interstate 55 (Barack Obama Presidential Expressway) and Plainfield Road (Lincoln Highway) with a combined traffic count of over 118,000 VPD. The subject property is strategically positioned within a half mile from Louis Joliet Mall which has over 90 stores...

...

Key Features

In location for years
Near major nationals
Freeway visibility
Highway close
Dense 100M+ pop 5 mi
Top 100 MSA
Affluent AHHI $100K 5 Mi
Long operation history
Absolute NNN
Corporate Guarantee

...

Links

Chuck E. Cheese Wikipedia Chuck E. Cheese Wikipedia Joliet, Illinois Zip Code 60435 Broker Site Page

Maps

Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Chuck E. Cheese (GL)
Guarantor:Corporate
Company:CEC Entertainment, LLC
# Units:569
Stock:Private

About Tenant

Founded in 1977, CEC Entertainment Inc., is a nationally recognized leader in family entertainment and dining that operates under the names Chuck E. Cheese’s and Peter Piper Pizza. The venues...

...

Demographics

	1 Miles	3 Miles	5 Miles
2028 Total Population :	6,983	67,471	188,947
2023 Total Population :	7,163	68,155	189,454
2023 Employed Civilian Pop :	3,829	36,132	97,685
2023 Total Businesses :	262	1,877	4,676
2023 Average Household Income :	$ 109,541	$ 109,587	$ 111,379
2023 Total Consumer Spending :	$ 228 M	$ 2267 M	$ 6306 M
2023 Median Age :	35	37	37
2023 Total Households :	2,432	24,176	66,115
2023 Pop Age 25+: Bachelor's Degree :	957	10,102	26,796
2023 Average Home Value :	$ 266,370	$ 278,098	$ 284,148

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
S Essington Rd	Galena Dr	2012	5,300	0.08 mi
I- 55	S Lincoln Hwy	2018	83,300	0.13 mi
US 30	S Lincoln Hwy	2021	33,100	0.25 mi
	Renwick Rd	2019	44,200	0.26 mi
		2018	11,700	0.26 mi
Joliet Road		2019	33,350	0.26 mi
Joliet Road	S Lincoln Hwy	2018	36,450	0.26 mi
N Essington Rd	Essington Rd	2008	5,600	0.33 mi
		2018	7,600	0.34 mi
I- 55	S Lincoln Hwy	2009	74,000	0.35 mi

Listing Broker

Eric Carlton

Colliers NNN Group

Contact

180 Listings
23704 Views
62 Sold

Jereme Snyder

Colliers NNN Group

Contact

168 Listings
22079 Views
58 Sold

Eric Carlton

Eric Carlton serves as Executive Vice President within the Retail Capital Markets Group of Greater Los Angeles, Partner of the Colliers NNN Group, and Co-Founder of the Snyder/Carlton Team for Colliers International nationwide. The Colliers Retail Services Group is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting i

...

Jereme Snyder

Jereme S. Snyder is a Executive Vice President within the Retail Services Group in Greater Los Angeles and a Director of Colliers NNN Group for Colliers International nationwide. The Colliers Retail Services Team is an integrated team of professionals with specialties in representing landlords and tenants with leasing needs, managing the acquisitions and dispositions of retail properties, enhancing values through asset management and assisting in debt solutions. Colliers NNN Group is a national

...

Disclaimer & Confidentiality

All information, content, data, and other materials on this Platform (“Content”) is made available to you on an “AS IS” basis without warranties of any kind, express or implied. All such Content is made available for informational purposes only and should not be relied on by you for any purpose. Content may contain errors, may be inaccurate or incomplete and/or, due to changing circumstances or other causes, may change or ultimately prove to be inaccurate or incomplete. Other than as set forth in our Terms of Service we do not have any control over your use of our Services or any Content. You should not use any such Services or any Content without validating the results through independent research, obtaining up-to-date information, and considering all relevant facts and circumstances, including your specific situation (financial or otherwise). We do not recommend, guarantee, or represent that the Services or any Content will predict the future performance of real estate assets or other assets of any kind. Moreover, we do not warrant the performance or results that may be obtained by using any of the foregoing. WE ARE NOT ENGAGED IN RENDERING TAX, LEGAL, INVESTMENT, FINANCIAL OR RISK MANAGEMENT ADVICE, AND THE RESULTS OF USE OF OUR SERVICES AND ANY CONTENT MUST NOT BE REGARDED OR REPRESENTED AS CONSTITUTING SUCH ADVICE. WE DO NOT MAKE ANY REPRESENTATIONS OR WARRANTIES REGARDING THE ACCURACY OF ANY CONTENT AND/OR PROJECTIONS GENERATED BY THE SERVICES OR ANY CONTENT