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Bakers Square Restaurant & Bakery Bakers Square Restaurant & Bakery EXCLUSIVE NET - LEASE OFFERING Representative Photo OFFERING 4839 W 111th St, Alsip, IL 60803 MEMORANDUM CONFIDENTIALITY AND DISCLAIMER Marcus & Millichap hereby advises all prospective some properties, including newly-constructed facilities or for the subject property, the future projected financial purchasers of Net Leased property as follows: newly-acquired locations, may be set based on a tenant’s performance of the property, the size and square footage projected sales with little or no record of actual of the property and improvements, the presence or The information contained in this Marketing Brochure has performance, or comparable rents for the area. Returns absence of contaminating substances, PCB’s or asbestos, been obtained from sources we believe to be reliable. are not guaranteed; the tenant and any guarantors may the compliance with State and Federal regulations, the However, Marcus & Millichap has not and will not verify fail to pay the lease rent or property taxes, or may fail to physical condition of the improvements thereon, or the any of this information, nor has Marcus & Millichap comply with other material terms of the lease; cash flow financial condition or business prospects of any tenant, or conducted any investigation regarding these matters. may be interrupted in part or in whole due to market, any tenant’s plans or intentions to continue its occupancy Marcus & Millichap makes no guarantee, warranty or economic, environmental or other conditions. Regardless of the subject property. The information contained in this representation whatsoever about the accuracy or of tenant history and lease guarantees, Buyer is Marketing Brochure has been obtained from sources we completeness of any information provided. responsible for conducting his/her own investigation of all believe to be reliable; however, Marcus & Millichap has matters affecting the intrinsic value of the property and not verified, and will not verify, any of the information As the Buyer of a net leased property, it is the Buyer’s the value of any long-term lease, including the likelihood contained herein, nor has Marcus & Millichap conducted responsibility to independently confirm the accuracy and of locating a replacement tenant if the current tenant any investigation regarding these matters and makes no completeness of all material information before should default or abandon the property, and the lease warranty or representation whatsoever regarding the completing any purchase. This Marketing Brochure is not terms that Buyer may be able to negotiate with a accuracy or completeness of the information provided. All a substitute for your thorough due diligence investigation potential replacement tenant considering the location of potential buyers must take appropriate measures to verify of this investment opportunity. Marcus & Millichap the property, and Buyer’s legal ability to make alternate all of the information set forth herein. expressly denies any obligation to conduct a due diligence use of the property. examination of this Property for Buyer. NON-ENDORSEMENT NOTICE By accepting this Marketing Brochure you agree to Any projections, opinions, assumptions or estimates used release Marcus & Millichap Real Estate Investment Marcus & Millichap Real Estate Investment Services, Inc. in this Marketing Brochure are for example only and do Services and hold it harmless from any kind of claim, cost, (“M&M”) is not affiliated with, sponsored by, or endorsed not represent the current or future performance of this expense, or liability arising out of your investigation by any commercial tenant or lessee identified in this property. The value of a net leased property to you and/or purchase of this net leased property. marketing package. The presence of any corporation’s depends on factors that should be evaluated by you and logo or name is not intended to indicate or imply your tax, financial and legal advisors. CONFIDENTIALITY AND DISCLAIMER affiliation with, or sponsorship or endorsement by, said corporation of M&M, its affiliates or subsidiaries, or any Buyer and Buyer’s tax, financial, legal, and construction The information contained in the following Marketing agent, product, service, or commercial listing of M&M, advisors should conduct a careful, independent Brochure is proprietary and strictly confidential. It is and is solely included for the purpose of providing tenant investigation of any net leased property to determine to intended to be reviewed only by the party receiving it lessee information about this listing to prospective your satisfaction with the suitability of the property for from Marcus & Millichap and should not be made customers. your needs. available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure ALL PROPERTY SHOWINGS ARE BY APPOINTMENT Like all real estate investments, this investment carries has been prepared to provide summary, unverified ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP significant risks. Buyer and Buyer’s legal and financial information to prospective purchasers, and to establish AGENT FOR MORE DETAILS. Activity ID: Z0332192 advisors must request and carefully review all legal and only a preliminary level of interest in the subject property. financial documents related to the property and tenant. The information contained herein is not a substitute for a While the tenant’s past performance at this or other thorough due diligence investigation. Marcus & Millichap locations is an important consideration, it is not a has not made any investigation, and makes no warranty guarantee of future success. Similarly, the lease rate for or representation, with respect to the income or expenses Table of Contents Investment Highlights 4 Financial Analysis 5 Tenant Info 6 Aerial 7 Location Overview 8 Regional Map 9 Demographics / Market Overview 10 Investment Highlights PRICE: $2,427,096| CAP: 7.75% | RENT $188,100 About the Investment ✓ Corporate Guarantee American Blue Ribbon Holdings, LLC – 8TH Largest Full Service Restaurant Company in the Country, Operating O’Charley’s, Village Inn, Legendary Baking and 99 Restaurant & Pub, Over 690 Restaurants ✓ $1.3 Billion in Annual Revenue ✓ A 10 Percent Increase in 2022 ✓ Absolute NNN Lease –Zero Landlord Responsibilities ✓ Has an 18-Year Tenant History at this Location ✓ Tenant Extended Lease in 2016- 8 Years Remaining ✓ Has Three, Five Year Options About the Tenant / Brand ✓ Guarantor Has Approximately $1.3 Billion in Annual Revenue ✓ American Blue Ribbon Holdings, LLC Currently Operates More Than 690 Company and Franchise Restaurants Representative Photo ✓ There are 45 Bakers Square Restaurants Across the Midwest About the Location ✓ Major National Tenants Include: Mariano’s, Aldi, Starbucks, Chipotle, Wendy’s, Dunkin Donuts, Culver’s ✓ Strong Traffic Counts | West 111th Street and South Cicero Avenue| Average 35,235 and 53,735 Vehicles Per Day Respectively ✓ Outstanding Population Demographics | 144,784 Individuals Within a Three-Mile Radius ✓ Marist High School | Coed Catholic High School | 1,647 Students Enrolled ✓ Average Household Income Exceeds 83,200 Within a One-Mile Radius of the Subject Property Representative Photo 4 Financial Analysis PRICE: $2,427,096 | CAP: 7.75% | RENT $188,100 Property Description RENT SCHEDULE Lease Year(s) Annual Rent Monthly Rent Rent Escalation (%) Property Bakers Square Restaurant & Bakery 8/1/2016 – 1/31/2022 $188,100 $15,675 - Property Address 4839 W 111th St 2/1/2022 – 1/31/2027 $206,910 $17,242.50 10% City, State, ZIP Alsip, IL 60803 Option Periods Year Built 1977 Option 1 – 2/1/2027 – Building Size 4,176 10% 1/31/232 $227,601 $18,966.75 Type of Ownership Fee Simple Option 2 – 2/1/2032- 10% The Offering 1/31/2037 $250,361.10 $20,863.43 Option 3 – 2/1/2037 – Purchase Price $2,427,096 10% CAP Rate 7.75% 1/31/2042 $275,397.21 $22,949.77 Annual Rent $188,100 Price / SF $601 INVESTMENT SUMMARY Increases 10% Every 5 Marcus & Millichap is pleased to present the exclusive listing for Bakers Square Lease Summary Restaurant & Bakery located at 4839 W 111th St, Alsip, Illinois . The site, consists Property Type Net Leased Restaurant of 4,176 rentable square feet of building space on 1.03 acres of land. The original lease commenced in October 28, 1999, Bakers extended the lease for Tenant / Guarantor Corporate seven years in 2016 and is now set to expire in 2027. In addition, the tenant has Original Lease Term 15 Years three, five-year extension options. Bakers has enjoyed success at this location as Lease Commencement 8/1/2016 evident by the multiple extensions. The annual rent is currently $188,100, and Lease Expiration 1/31/2027 will increase by 10 percent in 2022. Lease Term Remaining 7+ Years Lease Type Triple Net (NNN) Tenant will receive $50,000 in credits against annual rent due for the months Roof/Structure Tenant Responsible listed below: 8/1/2016 $3,431 Options to Renew Three, Five-Year Options 9/1/2016 $15,675.92 10/1/2016 $892.99 8/1/2017 $15,000 8/1/2018 $10,000 8/1/2019 $5,000 5 Tenant/Guarantor Overview Bakers Square began in the early 1970’s as an independent American Blue Ribbon Holdings, a premier food service restaurant in Des Moines, Iowa, serving soups, sandwiches and–as company, operates more than 690 company and franchise it happens–some of the most incredible pies anyone in the area family and casual dining restaurants in more than 40 states had ever tasted. under the Village Inn, Bakers Square, Legendary Baking, O'Charley's, and Ninety Nine brands. Today, Bakers Square is owned and managed by American Blue Ribbon Holdings, LLC. It has grown into a network of restaurants It also owns and operates Legendary Baking, comprised of three across the upper Midwest that, in many ways, still maintains the bakery facilities that supply its restaurants and other food charm and friendly appeal of that original restaurant in Iowa. For service and retail customers with a variety of high quality baked breakfast, lunch, dinner–or just a slice of pie–our guests find goods and "The Best Pie in America"®.
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