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808 Illinois Highway 59

Vai's Italian Kitchen & Bar Opens New Restaurant Entourage In Naperville's Fox River Commons
LEASEDRetail

Vai's Italian Kitchen & Bar Opens New Restaurant Entourage In Naperville's Fox River Commons

808 Illinois Highway 59

Building Size

5,540 SF

Asset Type

Retail

Closing

Oct 3, 2023

AI

The owners of Vai's Italian Kitchen + Bar are set to open a new restaurant called ENTOURAGE in the Fox River Commons shopping center in Naperville, Illinois. This new establishment will be located at 808 South Route 59 and will occupy a free-standing building near IL Route 59. The retail space spans approximately 5,540 square feet, offering ample room for the restaurant to serve its customers.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: Not specified
  • Address: 808 South Route 59, Naperville, Illinois
  • Market: Naperville
  • Size: 5,540 square feet

Entourage, the new restaurant venture, is spearheaded by the owners of Vai's Italian Kitchen + Bar, Michael Vai and Scott Wegener. The restaurant aims to provide a value-driven steak program, featuring various cuts of beef, seafood, sandwiches, and more. With its prime location in the Fox River Commons shopping center, ENTOURAGE is positioned to attract both local residents and visitors passing through the area.

The deal was facilitated by brokers Kristina O'Keefe and Rachel Lee from Continental Realty Corporation, representing the interests of the parties involved in the transaction.

Players

Kristina Kassolis O'Keefe

Continental Realty Corporation

Broker

1 deal

Broker

Naperville Retail Market Snapshot

Boundary boundary · Retail · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93