2508 Higgins RdHoffman Estates, IL 60169

Property Details for 2508 Higgins Rd

Year built

1994

Lot size

1.15 AC

Property type

Retail space

APN

07-07-100-026

APU

707100026

Description

This exceptional investment opportunity presents a single-tenant, free-standing Steak 'n Shake restaurant located at 2508 W Higgins Rd, Hoffman Estates, IL 60169, within Cook County. Built in 1997, this 3,750 square foot building sits on a 49,969 square foot lot and boasts 50 parking spaces, catering to the high volume of traffic at this prime intersection in Chicago's northwest suburbs. The property is zoned B-2 (Community Business District) and features a drive-thru. The current tenant, Steak 'n Shake, has occupied the premises since 1998, providing a strong history of consistent occupancy under a triple-net (NNN) lease. The property generates a substantial net operating income (NOI) of $125,337, making it an attractive investment with a strong return potential. The asking price is $2,100,000. This is a single-story building offering a stable, long-term investment opportunity in a high-demand location. The lease is renewable, ensuring continued income stream. This is a rare chance to acquire a well-established, profitable QSR property in a thriving suburban market.

• CAP approach

  CAP return

  Valuation

  6%

  $13,296,247

  6.5%

  $12,273,459

  7%

  $11,396,784

• Comparable approach

  Method

  Valuation

  Relative Method

  $12,815,970

  Geo Method

  $16,442,354

• Alternative Use

  Use

  Valuation

  Residential

  $10,353,122

  Hospitality

  $9,483,404

  Educational

  $7,890,081

  Medical

  $8,161,433

  Retail

  $12,273,459

Location Insight

City

Hoffman Estates

County

Cook

State

Illinois

Latitude

42.0585

Longitude

-88.1438

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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