Matthew Nadler, Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of Arby’s in Chicago Heights, Illinois. John Przybyla of Horvath & Tremblay was the acting broker of record. Horvath & Tremblay exclusively represented the seller and procured the buyer in the transaction that closed at a sale price of $1,464,000, a 5 percent cap rate.
Arby’s fully occupies a free-standing 2,464-square-foot building located along Halstead Street within a densely populated residential area. The property benefits from its positioning directly across the street from Prairie State College. Arby’s operates under a new, 20-year, triple net lease with two, 10-year option periods with 10 percent rental escalations scheduled every five years throughout the lease term and options periods.
