Chicago – Burger King’s original 20-year lease expires in December 2029 and features 5 percent rental escalations every five years.
Burger King is the sole occupant of the 2,980-square-foot Chicago building, which was built in 2009.Chicago – The Boulder Group has brokered the $2.4 million sale of a single-tenant, net-leased Burger King in Chicago. Burger King is the sole occupant of the 2,980-square-foot building, which was built in 2009. The Burger King is positioned as an outparcel to a recently developed multi-tenant shopping center anchored by Advance Auto Parts and DaVita Dialysis. Burger King’s original 20-year lease expires in December 2029 and features 5 percent rental escalations every five years throughout the primary term and renewal option periods. Heartland Midwest LLC, a wholly owned subsidiary of Heartland Food Corp., guarantees the lease. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the seller, a Chicago-based private partnership. A New York-based high-net-worth individual purchased the property.
— Danielle Everson