Dunkin Donuts and Primo Pizza Strip

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5600 & 5602 N Clark St | Chicago, IL 60660 Dunkin Donuts & Primo Pizza Strip

Net Operating Income

$102,000

Year Built

1958

Lot Size

0.13 Acres

Building Size

2,406 SQ FT

Lease Structure

NNN

Ownership Type

Fee Simple

Unlevered Cap Rate Return– Expected Nearly 8% Unlevered Cap Rate return average over a 10 Year Horizon assuming Dunkin option renewal.
Landlord Friendly Clauses- Extremely Limited Management with only two tenants both on NNN Leases with very landlord friendly clauses
Excellent Long Term Residual Value– Priced Below Replacement Cost for the land and building
100% Occupied– Two Tenant Retail Asset
Primo Pizza– $3,500/Mo in Rent with annual uncapped CPI increases.
Long Term Historical Occupancy with Primo Pizza boasting over a decade of occupancy since 2012 Recent Renewal Momentum- Primo Pizza recently renewed their lease for a new 10 Year initial term & Dunkin recently renewed their lease by taking their first option in 2021
Landlord Termination Option- (exclusive to Landlord if desire to redevelop) triggered March 1, 2026 is when the Dunkin expires. If Dunkin decides not to renew owner can facilitate an early termination, if desired exclusively at discretion of landlord, in order to effecutate a redevelopment strategy

Exceptional Real Estate- Located in Chicago’s prosperous Andersonville neighborhood on the hard corner of W Brynn Mawr Ave & N Ashland Ave
Strategic Positioning & Strong Location Fundamentals– Located roughly half a mile from major highways US Routes 14 & 41 as well as Bryn Mawr L Station
Large Daytime Population– ±100,860 Employees within 3 miles. The Largest employment sectors in the submarket are Retail,Healthcare and Engineering
Excellent Retail Synergy- located in a premiere trade area that additional businesses and retailers alike bring consumers to the immediate surrounding areas. There are many national retailers such as Jewel Osco, McDonald’s, Walgreens, CVS, Starbucks, Whole Foods & more..
Prime Urban Location & Close Proximity To Popular Chicagoland Destinations- Enviable urban location featuring a walk score of 98/100, a transit score of 70/100, and a bike score of 77/10. It is Surrounded by 34 Acres of Parkland featuring 13 parks and three multi-use recreational paths
Retail Submarket- contains over 64 Million Sq. Ft. of Inventory with a Large Daytime Population with ±100,860 Employees within 3 miles

Renovation- Major +/- $400,000 Renovation funded by Dunkin Franchisee to modernize the consumer foot traffic experience
Parcel- Versitle 2,400SF Building on an oversized 5,580SF lot. Under Developed for highest and best use
Zoning- B3-2 Zoning should allow for wide variety of uses, zero setbacks and possibly expanding the building area to the edge of the parcel
Landlord Termination Option- (exclusive to Landlord if desire to redevelop) triggered March 1, 2026 is when the Dunkin expires. If Dunkin decides not to renew owner can facilitate an early termination, if desired exclusively at discretion of landlord, in order to effecutate a redevelopment strategy
Building FAR Coverage- With a Maximum Building FAR Coverage of 2.2x potentially allowing for up to 3-4 story building and +/- 12,000SF (Check with city or zoning attorney for confirmation of assessment.)
Location-Highly desirable, highly versitle location with fluid ingress, egress AND AMPLE PARKING
Premium location highlighted by the fact that this parcel out positions McDonalds, (who historically has sought the most premium locations for their real estate focused operation.)