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Steak n Shake

2100 North Richmond Road, McHenry, IL 60051

$1,045,161

Cap Rate 7.75%

$1,102,041

Cap Rate 7.35%

DOM: 27 Updated: 03.11.24 Posted: 11.17.23 Status: Sold 12.14.23

Summary

Price $1,045,161 $1,102,041
Built/Renov 1998
Tenant Steak n Shake
Cap Rate 7.75% 7.35%
Lease Type Abs NNN
Guarantor Corp Traded
Size/SF 3,690
Lease Start 11-17-1999
#Units 506
Price/SF $283.24 $298.66
Expiration 11-30-2027
Tenant Type Casual Dining
NOI $81,000
R. Term 2.7
Ownership Fee Simple
Rent/SF $21.95
Increases 39.0%/4/yrs
Pop 5Mi 63,983
Lot/AC 1.21
Options 2/5yrs/39%
AHHI 5Mi $110,798

Isaiah Harf
Northmarq
Contact

Lease Highlights

  • Steak ’n Shake has been operating in this location since 1999
  • Tenant currently has 3+ years remaining on the primary lease term with 2 (5-year) options to extend
  • Lease features 39% rental escalation at the start of the first option and 29.9% at the start of option 2
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Steak and Shake is conveniently positioned along Richmond Road, a prominent north/south thruway with a daily traffic volume exceeding 22,200 vehicles. The property benefits from excellent access and visibility within a major retail corridor. The immediate area features numerous nationally recognized retailers, including The Home Depot, Meijer, Kohl’s, Petco, Hobby Lobby, Walmart, Dick’s...

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Key Features

  • In location for years

  • Dense retail corridor

  • Near major nationals

  • Strategically located

  • Top 100 MSA

  • Affluent AHHI $100K 5 Mi

  • Long operation history

  • Absolute NNN

  • Corporate Guarantee

  • Publicly traded company

    • ...

Links

Steak 'n Shake Wikipedia Steak 'n Shake Wikipedia McHenry, Illinois Zip Code 60051 Broker Site Page

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Steak 'n Shake Operations, Inc. (dba Steak 'n Shake) is an American casual dining restaurant chain that is famous for its most prominent food items, the Steakburger and milkshakes. Their...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,909 34,988 67,580
2023 Total Population : 6,249 33,489 63,983
2023 Employed Civilian Pop : 3,608 17,822 34,935
2023 Total Businesses : 395 1,149 1,959
2023 Average Household Income : $ 114,473 $ 110,046 $ 110,798
2023 Total Consumer Spending : $ 246 M $ 1251 M $ 2417 M
2023 Median Age : 40 41 41
2023 Total Households : 2,520 13,311 25,496
2023 Pop Age 25+: Bachelor's Degree : 1,073 5,112 10,237
2023 Average Home Value : $ 271,587 $ 268,344 $ 271,168
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
N Richmond Rd Blake Blvd 2013 23,500 0.03 mi
McCullom Lake Rd N Orleans St 2013 6,400 0.21 mi
N Orleans St W Cornell Ct 2009 5,000 0.33 mi
N Richmond Rd McCullom Lake Rd 2009 16,600 0.33 mi
IL 31 Shoppers Dr 2021 22,200 0.35 mi
McCullom Lake Rd 2021 6,700 0.39 mi
N Riverside Dr Hazelwood Dr 2013 6,500 0.47 mi
N Richmond Rd Washington St 2007 24,200 0.51 mi
McCullom Lake Rd Olde Mill Ln 2013 6,400 0.51 mi
W Orleans St N Lenard Ave 2013 5,350 0.53 mi

Listing Broker

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