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Lazy Dog 51 McHenry Rd 8,060 SF Retail Building Buffalo Grove, IL 60089 $8,929,000 ($1,107.82/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 20-year sale-leaseback opportunity featuring 10% rental increases every 5 years
- Pad to ~300,000 SF Jewel-Osco-anchored mall – The Grove
- Zero landlord maintenance or expense obligations
- Corporate guaranty from tenant’s parent company – Lazy Dog Restaurants, LLC
- Signalized hard corner location at heavily trafficked intersection – 51,000+ VPD
- FY 2024 revenues totaled $400M and 2025 revenues are on pace to surpass 2024 (ask Agent for more details)
EXECUTIVE SUMMARY
A 20-year ground lease Lazy Dog lease featuring 10% rental increases every 5 years and four, 5-year extension options. The subject property is a hard corner outparcel to a ~300,000 SF shopping center anchored by a Jewel-Osco that ranks in the top 7% of grocery stores nationwide in terms of annual visits (per Placer.ai).
PROPERTY FACTS
Sale Type
Investment
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Property Subtype
Building Size
8,060 SF
Building Class
B
Year Built
2025
Price
$8,929,000
Price Per SF
$1,107.82
Cap Rate
7%
NOI
$625,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.22
Lot Size
0.86 AC
Zoning
B-2 - Business District, General Retail
Frontage
68’ on Illinois 83
Walk Score®
Very Walkable (78)
NEARBY MAJOR RETAILERS
Fifth Third Bank
PROPERTY TAXES
| Parcel Number | 15-33-301-175 | Improvements Assessment | $0 |
| Land Assessment | $147,057 | Total Assessment | $147,057 |
PROPERTY TAXES
Parcel Number
15-33-301-175
Land Assessment
$147,057
Improvements Assessment
$0
Total Assessment
$147,057
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CPP CRE ILLINOIS, LLC
Lazy Dog | 51 McHenry Rd
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