Net Lease N Illinois

Popular Chicago pizza joint goes through sale-leaseback

Popular Chicago pizza joint goes through sale-leaseback,ph1

STREAM Capital Partners, LLC, a national net lease and sale leaseback advisory group, recently executed the sale-leaseback of Chicago’s longstanding pizza restaurant, Ranalli’s. Located in the Lincoln Park neighborhood at 1925 N. Lincoln Avenue, Ranalli’s has catered to diners for more than 45 years.

The restaurant, near DePaul University and Lincoln Park Zoo, was purchased for $2,770,000. The lease is structured as a triple net lease with annual rent increases and options for renewal. Jonathan Wolfe and Jordan Shtulman of STREAM Capital Partners represented the seller, Four Corners, one of the largest bar and restaurant ownership groups in Chicago, on the transaction.

“The buyer and seller were both pleased with the outcome. For the buyer, it represents an opportunity to own a long-term net leased property in one of the most desirable areas in Chicago with a tenant that has been very successful at this location for a long time,” said Wolfe. “For the seller, it represents an opportunity to use the capital to reinvest in their business and continue their successful track record at this location and numerous other locations.”