Red Robin | Schererville, IN
1410 US Highway 41, Schererville, IN, 46375, US
¥454,716,000 | 590 sm
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire a 2,818 square foot freestanding, single-tenant Raising Canes located at 2781 Mannheim Road in Des Plaines, Illinois (“Property” or “Asset”). Raising Cane’s is operating on a 15.0-year absolute NNN ground lease with 10.0% rent escalations every 5-years, five, five-year renewal options and zero landlord responsibilities.
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Attributes
Asking price
¥528,588,000
Cap rate
5.15%
NOI
¥27,225,000
WAULT
14.3 years
Year built
2024
Building area net
262 sm
Land area gross
0.44 ha
Media
Investment highlights
- Operating on an absolute NNN ground lease with ±14.3 years of primary lease term remaining
- Raising Cane's has generated 63 straight quarters of positive same-store sales, and AUV has more than doubled since 2015
- Adjacent to O'Hare International Airport wtih 74 million annual passengers
- Just off I-90, one of Chicago's most traveled roadways with accessability to 191,000 VPD
- Over 2,000 surrounding hotel rooms in the immediate area
- Highly affluent residential base earning $134,000 in average household income (3-mile radius)
- Adjacent to Allstate Arena, one of the largest indoor entertainment facilities in Chicago
Contact brokers
Raising Cane's - Des Plaines, IL (0 Properties)
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Last updated
Sep 26, 2025
