Long-Term, 20-Year Absolute Triple Net (NNN) Lease
Lease Commencement Upon Close of Escrow
One and Three Quarter (1.75%) Annual Rental Increases Starting in Year 6
Six (6), Five (5)-Year Tenant Renewal Options, Bringing the Potential Lease Term to 50 Years
Marcus & Millichap is pleased to present the exclusive listing for a Panera Bread located at 1575 South Lake Street in Mundelein, IL. This is a rare investment opportunity to participate in a direct sale leaseback with Hamra Enterprises. This café consists of roughly 4,156 rentable square feet of building space on an estimated 1.01-acre parcel of land.
Chicago Bread, LLC will enter into a brand new 20-year triple-net (NNN) sale leaseback with the purchaser upon close of escrow. The initial annual rent will be $200,000 and will increase by one and three-quarter percent (1.75%) annually starting in year 6 and continuing throughout the term of the lease and in each option period. There will be six (6), five (5)-year tenant renewal options, extending the total possible lease term to 50 years.