Chick-fil-A 5809 Franklin St

SRS National Net Lease is pleased to offer the opportunity to purchase the leased fee interest (land ownership) in an absolute NNN, drive-thru equipped, newly built, Chick-fil-A investment property located in Michigan City, IN (Chicago MSA). The tenant, Chick-fil-A, Inc., recently signed a brand new 15-year lease with 12 (5-year) option periods left to extend, demonstrating their long-term commitment to the site. The lease features 7.50% rental increases every 5 years throughout the initial term and option periods, growing NOI and hedging against inflation. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1967, Chick-fil-A is among the most popular quick service chains in the United States with over 3,000 operating locations.
Chick-fil-A is strategically located along Franklin Street with clear visibility and access to an average of 23,600 vehicles passing by daily. The property benefits from nearby access onto Interstate 94 (55,000 VPD), making it a centralized location with easy commutes. The property is ideally situated within a dense retail trade area and is near Lake Park Plaza (114K+ SF), Dunes Plaza (293K+ SF), and Marquette Place (529K+ SF), three major shopping centers. The surrounding tenants include Walmart Supercenter, Lowe’s, ALDI, Meijer, Menards, Kohl’s, TJ Maxx, and others. The strong trade area drives a loyal, local consumer base to the area, promoting crossover exposure and supporting the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Village West (108 units), Arbor Glen (253 units), Normandy Village (572 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 42,700 residents and 25,500 daytime employees, with a healthy average household income of $80,390.