Net Leased Restaurant & Development Land

Listing was updated at: 05/24/2020
Property Overview
Price/Rent PSF $ 1,250,000.00
Asset Type Retail
Trade Type Sale
SQ. FT. Available 4,656
Date Available 05/21/2020
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Parking 120
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The property is located on Lake St (Route 31) just south of Indian Trail Rd in a vibrant commercial district adjacent to the Fox River in Aurora, Illinois' second largest city. The property is adjacent to McDonalds, and close to Northgate Shopping Center, Cermak Produce, Carson Pirie Scott, TJ Maxx, Ross, Long John Silvers, Taco Bell, White Castle, Walgreens and many other regional and national retailers.

The subject property is a freestanding 4,656 SF restaurant building on 1.72 acres leased to Nikarry's Restaurant plus 4.91 acres of development land. Nikarry's is a staple of the community which has occupied the present location for nearly 20 years, and reaffirmed its commitment to the location by recently executing a new 7 year lease.

The 4.91 Acre wooded development lot with river views is currently zoned M1, which allows for a variety of uses including self storage, veterinary services, animal hospitals and kennels. Potential for multi-family or senior housing with rezoning.