1320 Waukegan RdGlenview, IL 60025

Property Details for 1320 Waukegan Rd

Year built

1949

Lot size

0.11 AC

Property type

Retail space

APN

04-35-200-029

APU

435200029

Description

This 1,653 sq ft freestanding restaurant in Glenview, IL, is ideally situated on Waukegan Road, a high-traffic area boasting 23,000 vehicles per day, with an additional 31,000 VPD on nearby Lake Street. Offered at $599,000 or available for a net-net-net (NNN) lease, this property benefits from 24 free adjacent public parking spaces and the possibility of adding a drive-through. The space is fully equipped for restaurant operation, featuring five wok stations, a walk-in cooler, a sushi display case, and a comprehensive exhaust hood system. The property is located in a high-income neighborhood, surrounded by established national retailers and restaurants, ensuring a strong customer base. The Village of Glenview offers a compelling incentive program for tenant improvements and/or facade enhancements, potentially reimbursing up to 50% of eligible costs, subject to various maximums based on private investment and cost eligibility. Property taxes are $14,894.32 annually. This presents a unique opportunity for a restaurant owner seeking a turnkey operation in a prime location with significant growth potential. The high visibility and established infrastructure make this an exceptional investment or lease opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $2,106,273

  6.5%

  $1,944,252

  7%

  $1,805,377

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,562,375

  Geo Method

  $1,562,375

• Alternative Use

  Use

  Valuation

  Residential

  $1,640,049

  Hospitality

  $1,502,276

  Educational

  $1,249,876

  Medical

  $1,292,861

  Retail

  $1,944,252

Location Insight

City

Glenview

County

Cook

State

Illinois

Latitude

42.0787

Longitude

-87.799

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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