Savanna Station - Savanna, IL | 1230 Chicago Ave
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Savanna Station - Savanna, IL 1230 Chicago Ave
6,259 SF 100% Leased Retail Building Savanna, IL 61074 $1,934,847 CAD ($309 CAD/SF) 6.25% Cap Rate
Investment Highlights
- Long-Term NNN Master Lease to J.B. Sullivan’s Inc., d.b.a. as Savanna Station
- McDonald’s Sublease is Well Below Market at Just Over $34,000 Per Year
- New Ownership: The J.B. Sullivan’s Grocery Chain and Other Business Units were Acquired by Coborn’s Inc. ($1.4B Revenue) in June 2023
- Tenured, Low Rent C-Store and Gas Station with Partial Sublease to McDonald’s Corporation (NYSE: MCD)
- us, 1.56 Acre Site Includes a Drive-Thru for McDonald’s and Eight (8) BP Fuel Pumps
- McDonald’s has Operated on the Premises since August of 1999
Executive Summary
SHOP Companies has been exclusively retained to offer for sale Savanna Station, a fuel-stop and convenience store and McDonald’s in Savanna, IL. The property is Master Leased to J.B. Sullivan, Inc. and partially sublet to McDonald’s Corporation (NYSE: MCD). The Master Lease defines the term as equal to the longer of a) 15 years, or b) the entire duration of the McDonald’s Lease, including any exercised options (October 8, 2040, if all options are exercised). The spacious 1.56 acre property includes a drive-thru for McDonald’s and eight (8) fuel pumps. Savanna Station is one of only two gas stations in Savanna. McDonald’s competes with only two other national QSR’s in Savanna (KFC, Subway) and has operated on the premises since August 1999.
In May 2023, Coborn’s Inc. acquired the Sullivan’s Foods grocery stores and other business units in northern and central Illinois, the company’s first expansion into the state. In 2022, Coborn’s reported over $1.2 billion in total sales volume across its diverse line of 135 business units.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307
In May 2023, Coborn’s Inc. acquired the Sullivan’s Foods grocery stores and other business units in northern and central Illinois, the company’s first expansion into the state. In 2022, Coborn’s reported over $1.2 billion in total sales volume across its diverse line of 135 business units.
In Association with ParaSell, Inc. | Costa Mesa, California | A Licensed Illinois Broker #478027307
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
6,259 SF
Building Class
C
Year Built
1997
Price
$1,934,847 CAD
Price Per SF
$309 CAD
Cap Rate
6.25%
NOI
$120,896 CAD
Percent Leased
100%
Building Height
1 Story
Building FAR
0.09
Lot Size
1.56 AC
Opportunity Zone
Yes
PROPERTY TAXES
| Parcel Number | 08-07-11-100-032 | Improvements Assessment | $289,193 CAD |
| Land Assessment | $126,217 CAD | Total Assessment | $415,411 CAD |
PROPERTY TAXES
Parcel Number
08-07-11-100-032
Land Assessment
$126,217 CAD
Improvements Assessment
$289,193 CAD
Total Assessment
$415,411 CAD
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Savanna Station - Savanna, IL | 1230 Chicago Ave
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