Long John Silver's and A&W

As the largest city in central Illinois, with a population of 117,000, Springfield is best known for being the home of our 16th President Abraham Lincoln and the place where President Barack Obama spent his early career in politics. Springfield is truly rich with history while maintaining a progressive and strong business environment. Conveniently located on Interstate Highways 55 and 72, Springfield is in close proximity to St. Louis to the south; Chicago to the north and Indianapolis to the east. This central location gives Springfield a reach of over 536,000 people within a 40 mile radius. In addition to Interstate access, five class I railroads and two short line railroads serve the city and Sangamon County, providing direct shipment to major markets throughout the United States. Springfield's Abraham Lincoln Capital Airport is three miles northwest of the City's downtown and is a full service provider that accommodates both passenger as well as freight services.The Kase Group is pleased to present the opportunity to acquire a Long John Silver's and A&W in Springfield, Illinois, on an absolute NNN lease. The lease is set to expire in February 2025 and offers four 5-year renewal options. The tenant has exercised the first option, split into two parts: 2A (2 years) and 2B (3 years). This is followed by three additional 5-year options, each with a 10% rent escalation. The property is strategically located on a hard corner with excellent visibility, benefiting from exposure to 4,000 vehicles per day (VPD) along Clock Tower Drive and 16,200 VPD along Monroe Street. Additionally, the site enjoys proximity to Veterans Parkway (Route 4), which carries over 24,000 VPD, and is just a 10-minute drive from Downtown Springfield. Nearby amenities include the Illini Country Club, a premier private club featuring an 18-hole championship golf course, and Owen Marsh Elementary School, which serves 302 students.