The Boulder Group Arranges Sale of Chicago Chick-fil-A Property for $3.3 Million
The Boulder Group, a net-leased investment brokerage firm, has completed the sale of a single-tenant net-leased Chick-fil-A property located at 11301 S Corliss Avenue in Chicago, Illinois. The property was sold for $3.3 million.
The newly constructed Chick-fil-A drive-thru operates under a 15-year ground lease that includes 10% rental escalations every five years. It also features eight five-year renewal options, making it an attractive investment with long-term income potential. Situated at the southeast corner of the newly revitalized Pullman Park development, the site is part of a transformative 180-acre mixed-use project on Chicago’s South Side.
Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based real estate developer, in the transaction. The buyer is a private investor based in the local area.
“New construction Chick-fil-A assets garner significant investor interest due to their passive investment nature,” said Randy Blankstein, President of The Boulder Group. Jimmy Goodman, Partner at the firm, added, “QSR properties with lower rents are of significant interest to 1031 exchange investors.”
