Retail, Retail – Free Standing - Paris, IL
Subject property was originally constructed in 1969. For the last 45+ years, the building has been leased to the current tenant Monical’s Pizza Corporation. The new lease started in July 2015 and runs through July 2020 with 3 – 5 Year automatic options (unless 90 day notice is given) the features a 25% rental increase in the first option and CPI increases for the remaining options. The Lessor is responsible for the Roof, Structural Components, and the HVAC. Monical’s Pizza (Lessee) is an American regional pizza chain, which as of 2016, consists of over 60 locations in Illinois, Indiana, Missouri and Wisconsin. About half of the locations are franchised, while the others are owned by the corporation. The company was founded in 1959 and is based in Bradley, Illinois.
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Please call (217) 352-7712.
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