High-rise commercial buildings

Sub Markets

Property Sectors

Topics

Chicago & Midwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Chicago & Midwest  + Greater Chicagoland  + Retail  | 

Net-Leased Bakers Square Changes Hands in Niles

A single-tenant net lease Bakers Square restaurant in Niles, IL has changed hands for $1.675 million. The seller of the retail property at 8584 Dempster St. was a Northeast-based real estate investment company; the buyer was a private investor based in the Midwest.

The Boulder Group’s Randy Blankstein and Jimmy Goodman represented the seller. The tenant is a corporately guaranteed triple-net lease, featuring 3% annual rental escalations and three five-year renewal option periods.

The lease has more than two years remaining in the primary term. Bakers Square is a casual dining restaurant chain in the Upper Midwest owned by American Blue Ribbon Holdings, a majority-owned subsidiary of Fidelity National Financial.

“Restaurant properties priced below $2 million with corporate guarantees continue to garner significant interest amongst private investors,” said Blankstein.


Get Chicago News in 150 Words

For comments, questions or concerns, please contact Paul Bubny

Connect

Inside The Story

Read more at Boulder GroupConnect With Boulder Group's Blankstein

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action
New call-to-action