Todd Graves Of Raising Cane’s Leases 8,800 Square Feet At 820 West Randolph Street In Chicago
820 West Randolph Street
Building Size
8,800 SF
Asset Type
Retail
Closing
Feb 14, 2025
AI
The transaction involves an 8,800-square-foot retail space located at 820 West Randolph Street in the Chicago market. This former Little Goat Diner location is notable for its size and is situated in the Fulton Market area, aligning with the region's evolving dining landscape.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Address: 820 West Randolph Street
- Market: Chicago
- Landlord: Rob Katz & Kevin Boehm - Boka Restaurant Group
- Tenant: Todd Graves - Raising Cane’s
- Broker: Canvas Real Estate
- Square Footage: 8,800
Rob Katz and Kevin Boehm represent Boka Restaurant Group in this lease transaction with Todd Graves, who is the founder of Raising Cane’s. This marks the fifth location for Raising Cane’s in the Chicago area, indicating the company's strategic move to capitalize on the casual dining trend in a rapidly changing neighborhood.
Players
Chicago 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