Olive Garden - Lombard, IL_Property for Sale
Olive Garden - Lombard, IL_Property for Sale
86 Yorktown Shopping Center, Lombard, IL, 60148, US

Olive Garden - Lombard, IL

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire an NNN-Ground leased, Olive Garden (the “Property” or “Property”) located in Lombard, IL in the western Chicago MSA. The Property is ideally positioned on a 1.70-acre parcel at the densely trafficked intersection of Butterfield Road (54,900 VPD) and S Highland Avenue (13,900 VPD) - an exit of Interstate 88 with 131,200 VPD.

With an opening date of March 1988, the Olive Garden in Downer’s Grove was the first location in Illinois. It was also one of the first 100 restaurants that Olive Garden built in the country. After a 35-year tenure in the marketplace, Olive Garden has spent significant capital to relocate from the in-line location in Downer’s Grove to the newly constructed, hard corner location at the signalized entrance of Yorktown Center. Nationally, the Olive Garden brand has exceeded the parent company Darden Restaurant’s 2022 financial projections, with over 12% same store sales growth in Q3 2022.

The Property is located in an outlot of Yorktown Center, a regional shopping center that features national strong credit tenancy. Lombard boasts a population of over 271,000 and an average household income of over $147,000 within a 5-mile radius. Additionally, there is a burgeoning of development occurring in the area with two completed residential projects bringing 500+ units onto the market and another 600-700 units at the former Carson's space at the shopping center. With population growth of over 22% within a 1-mile radius of the Property, these developments have helped satiate the demand in the area. It is the premier retail corridor bookended by two well established Chicago suburbs.



Asking Price
SGD 8,784,000
Building area Gross
726 m²
Year built
Cap Rate
SGD 440,000


Investment Highlights

  • Investment-grade tenant (Fitch: BBB)
  • 10-year, absolute NNN lease with 10.0% rent bumps every 5 years and an annual NOI of $325,000
  • Strong Same Store Sales Growth of 12.3% (Q3 2022)
  • Outlot to Yorktown Center, a 130-acre shopping center with $300M in annual retail sales and $25M in modernizations recently done
  • Proximate to a hotbed of residential redevelopment with 500 new units completed and 600-700 units in the pipeline this year
  • Located at the lighted Butterfield Road and S Highland Avenue (68,800 VPD)
  • 22.0% population growth within a 1-mile radius of the Property
Olive Garden - Lombard, IL 4_Property for Sale
Olive Garden - Lombard, IL 4_Property for Sale

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Olive Garden - Lombard, IL (0 Properties)

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Last updated
16 May 2023