Portillo's
Fast growing QSR in midwest
Marketing description
IRAAP LLC is pleased to exclusively present the opportunity to acquire a premier
Portillo’s Ground Lease located at 1801 S. Randall Road, Algonquin, IL. Newly
constructed in 2023, this high-visibility, net-leased asset offers a long-term
corporate-guaranteed lease with Portillo’s Hot Dogs, LLC, one of the most
recognized fast-casual brands in the Midwest.
This 7,326-square-foot freestanding restaurant is situated on a 2.95-acre parcel in a
dense retail corridor with strong demographics and high traffic counts. The
property features a 10-year initial lease term with 10% rental increases every five
years, and four (5-year) renewal options, offering long-term income growth and a
stable return.
With a net operating income of $300,000 and priced at $7,000,000, the
investment offers a cap rate of 4.29%. As a true ground lease, the tenant is
responsible for all maintenance, including the structure and roof—ensuring
minimal landlord responsibilities and maximum cash flow efficiency.
Investment highlights
Complete NNN lease with zero landlord responsibility
High-performing intersection with excellent visibility.
Ample parking available with over 50 parking spaces for shoppers and employees.
The shopping center is over 70 leased out to major national tenants including Chipotle, Raising Cane's, Cooperhawk's.
Covered Sidewalk Along Entire Store Frontage.
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