Chick-fil-A - Buffalo Grove, IL (Lake County)
Whole Foods Anchored Center | Abs NNN Ground Lease | #1 Suburb of Chicago | Low $115K Rent
Marketing description
JLL is pleased to exclusively offer for sale the Chick-fil-A in Buffalo Grove, IL (the “Property“). Chick-fil-A (the “Tenant“) operates on a 13-year ground lease with a 10% rent bump in 2028 and twelve, 5-year extension options. The Property is positioned within The Clove, a premier $150 million mixed-use redevelopment featuring a 290-unit apartment complex, a new Whole Foods slated to open in 2027, and other nationally established retail brands. Upon stabilization, the center will deliver 78,000 square feet of retail, restaurant, and entertainment space complemented by a greenspace pavilion for community gatherings and events. Located approximately 25 miles northwest of downtown Chicago, Buffalo Grove ranks 15th on U.S. News & World Report's 2026 list of "Best Places to Live in the Nation" and claims the top spot in Illinois, anchored by Stevenson High School—recognized as the "#1 Best Public High School in America" in 2023. The city boasts a robust transportation network, offering downtown Chicago access in under 45 minutes via Metra rail or highway, while Lake County property owners benefit from lower property taxes compared to neighboring Cook County.
The offering presents investors with an attractive opportunity to acquire long-term, passive cash flow guaranteed by the #1 quick-service restaurant in the U.S. with strong future upside potential supported by strong market fundamentals, surrounding developments, and below-market rents.
Investment highlights
WITHIN MAJOR REDEVELOPMENT CENTER
- The asset is located within the Clove, a $150 million mixed-use redevelopment featuring a 290-unit apartment complex
- A new Whole Foods will open in the center in 2027
- Neighboring tenants also include a new Lucky Strike and the first Dutch Bro’s location in the Chicagoland area
- Upon completion, the center will include 78,000 square feet of retail, restaurant and entertainment space across multiple buildings as well as a greenspace for wellness classes and other community gatherings
PREMIER CHICAGOLAND SUBURB W/ NATION’S #1 SCHOOL DISTRICT
- Buffalo Grove ranks 15th on US. News & World Report’s 2026 list of “Best Places to Live in the Nation” and the #1 best place to live in Illinois
- Stevenson High School was ranked as the “#1 Best Public High School in America” by U.S. News & World Report in 2023
- A robust transportation network allows residents to reach downtown Chicago in under 45-minutes via Metra rail or highway
- Average household incomes exceed $150,000
- Located in Lake County, Buffalo Grove property owners benefit from the county’s lower taxes in comparison to the neighboring Cook County.
FAVORABLE LEASE ECONOMICS & INDUSTRY LEADING TENANCY
- Chick-fil-A has ranked as the #1 quick-service restaurant in the U.S. for 11 consecutive years
- This location operates on a ground lease with more than 13 years of guaranteed remaining term, a 10% rent bump in 2028, and twelve, 5-year option periods
- At $115,000, the Tenant’s annual rent is well-below market in comparison to other Chick-fil-A locations
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