Chick-fil-A (Ground Lease) 11301 S Corliss Ave

The Boulder Group is pleased to exclusively market for sale a single tenant ground leased Chick-fil-A property located in Chicago, Illinois. Construction is scheduled to be completed in February 2025 with a new 15-year ground lease. The lease is an absolute triple net ground lease that features no landlord responsibilities. Additionally, there are 10% rental escalations throughout the primary term and eight 5-year renewal options.
The 4,852 square-foot building is positioned just off of East 111th Street (15,300 VPD) and benefits from its immediate access to Interstate 94, which experiences over 155,000 vehicles per day. The subject property sits at the southeast corner of the newly revitalized Pullman Park. The Pullman Park development spans 180 acres and has constructed/leased nearly 800,000 square feet of industrial space since 2020 to companies Amazon, METHOD (SC Johnson), Gotham Greens, and Whole Foods (Distribution Center). These developments have collectively generated over 1,500 jobs for the area. Major retailers occupying the corridor include a Walmart Supercenter (Top 19% in IL), Ross, Planet Fitness, Culver’s, Potbelly, Wingstop, and US Bank. Chick-fil-A is also within proximity to the highly regarded Harborside International Golf Course which is the closest course to the city of Chicago. There is also a robust population of 393,000 people living within a five-mile radius that earn an average household income of $75,972. Additionally, the nearest Chick-fil-A property is found 12 miles north.
Founded in Georgia in 1946 as “Dwarf House”, Chick-fil-A is one of America’s most iconic fast food restaurant brands with a famously dedicated following. Initially only a staple in the Southeast, Chick-fil-A has grown their brand nationally, with stores reaching from California to New York City. Today the chain has nearly 3,000 locations across 48 states, Canada, and Puerto Rico. The company’s methodical, patient approach to growth and dedication to a limited, high-quality menu has cemented Chick-fil-A’s position at the top of the fast-food industry. In 2023, Chick-fil-A was once again ranked as America’s favorite restaurant by the American Customer Satisfaction Index (ACSI) for the ninth consecutive year. With an impressive score of 85, Chick-fil-A continues to lead all restaurants in customer satisfaction, thanks to its focus on food quality, service, and technological efficiency.