1262 Lee StDes Plaines, IL 60016

Property Details for 1262 Lee St

Year built

1971

Lot size

0.27 AC

Property size (Sq ft)

1,681 SF

Property type

Retail space

APN

09-20-301-066

APU

920301066

Description

This 1,700 sq ft free-standing restaurant building is situated on a 12,000 sq ft lot at 1262 Lee Street in Des Plaines, Illinois, 60016. The property enjoys a high-traffic location on Lee Street/Mannheim Road, between Algonquin Road and Forest Avenue, near Van Buren Street. Its strategic placement provides excellent visibility and accessibility, with double in-and-out access points. The building is surrounded by major retailers, including Aldi, banks (US Bank, Chase, and Fifth Third Bank), and popular restaurants such as KFC and Burger King, ensuring high foot traffic and brand recognition. The property includes all equipment and fixtures. Ample parking is available for customers. The building offers strong street presence and is conveniently located near Elk Grove, Mount Prospect, Rolling Meadows, Arlington Heights, and Rosemont, with easy access to O'Hare Airport and major roads and interstates. The 2023 annual real estate taxes were $24,500. The property is currently vacant and available for immediate occupancy. Note that no business financial information is available. This is a fantastic opportunity for a restaurant owner or investor seeking a well-located, established property in a thriving commercial area. The asking price is $449,000. Gross lease type.

• CAP approach

  CAP return

  Valuation

  6%

  $570,381

  6.5%

  $526,506

  7%

  $488,898

• Comparable approach

  Method

  Valuation

  Relative Method

  $481,685

  Geo Method

  $551,755

• Alternative Use

  Use

  Valuation

  Residential

  $444,127

  Hospitality

  $406,818

  Educational

  $338,468

  Medical

  $350,108

  Retail

  $526,506

Location Insight

City

Des Plaines

County

Cook

State

Illinois

Latitude

42.0303

Longitude

-87.8948

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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