Outback Steakhouse 2805 Mannheim Rd 5,000 SF Retail Building Des Plaines, IL 60018 $3,130,434 ($626.09/SF) 5.75% Cap Rate

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Outback Steakhouse property located in Des Plaines, Illinois (Chicago MSA). Outback Steakhouse was completed in 2024 and includes a long-term lease through July 2039. The triple net ground lease features no landlord responsibilities and provides 10% rental escalations throughout the primary term and in the four 5-year renewal options. Outback Steakhouse is a wholly owned subsidiary of Bloomin’ Brands, a publicly traded company (NASDAQ: BLMN).
The 5,000-square-foot building sits along Mannheim Road, which sees more than 29,000 vehicles per day, and is positioned just off both Interstate 90 (171,000 VPD) and Interstate 294 (173,000 VPD). The property bene?ts from its proximity to O’Hare International Airport, the fourth busiest airport in the United States, as well as nearby traffic drivers including Allstate Arena, ranked among the top 3% of stadiums and arenas nationwide for attendance per Placer.ai, Rivers Casino, Target, and numerous hotels surrounding the airport. Notably, the two hotels directly across the street (Hyatt Place and La Quinta) do not feature on-site full-service restaurants, which drives additional foot traffic and dining demand directly to the subject Outback Steakhouse. The property is also less than 10 minutes from both Maine South High School (2,500 students) and Maine West High School (1,900 students). More than 314,000 residents live within a ?ve-mile radius, and the surrounding community is affluent, with average household incomes exceeding $133,000 within three miles. Additionally, the daytime population expands to nearly 390,000 people within ?ve miles, supported by nearby office users such as Abbott, Touhy Plaza, Wintrust, the FAA Great Lakes Region, Pearson, Prologis, Feldco, and several others.
Outback Steakhouse is an American casual dining restaurant chain known for its Australian-themed atmosphere and menu featuring steaks, chicken, ribs, seafood, pasta, and signature items like the Bloomin’ Onion. Founded in March 1988 in Tampa, Florida, by industry veterans Bob Basham, Chris T. Sullivan, Tim Gannon, and Trudy Cooper, the chain adopted an Australian-inspired concept emphasizing relaxed hospitality and the motto “No Rules, Just Right.” Outback Steakhouse operates as a ?agship brand under Bloomin’ Brands, Inc., a publicly traded company (NASDAQ: BLMN) headquartered in Tampa, Florida, that also owns Carrabba’s Italian Grill, Bone?sh Grill, and Fleming’s Prime Steakhouse & Wine Bar.