1455 Dilleys RdGurnee, IL 60031

Property Details for 1455 Dilleys Rd

Year built

2006

Construction

FRAME

Lot size

2.00 AC

Property size (Sq ft)

11,284 SF

Property type

Turn key restaurants

APN

07-15-100-124

APU

715100124

Description

Prime Gurnee, IL location, this multi-tenant property offers a compelling value-add opportunity. The 31,770 square foot center features nine tenants, including a freestanding Golden Corral restaurant on an absolute NNN lease with a corporate guarantee. Currently boasting 85.6% occupancy, there's 3,550 square feet of contiguous space available for lease, presenting significant potential to increase the Net Operating Income (NOI) by approximately 20%. The property sits on a 2.96-acre lot with 150 parking spaces and benefits from a strong tenant mix including medical services (orthodontics, chiropractic, eye care, veterinary) and retail, creating a resilient investment profile. Built in 2007, the two single-story buildings are zoned C-2: COMMUNITY COMMERCIAL DISTRICT. The property's strategic location between Gurnee Mills Mall, Six Flags Great America, and Great Wolf Lodge ensures high traffic and visibility. Built-in rent bumps provide further income growth potential. The current NOI is $377,831, with a pro-forma NOI of $442,651. The asking price is $5,200,000, representing a 7.27% cap rate. This property presents a rare opportunity to acquire a well-positioned, multi-tenant center with significant upside potential in a high-traffic tourist destination. The Golden Corral anchor tenant, a top performer in its region, contributes 21% of the total rent and features 10% rent increases every five years, while inline tenants have 2% annual rent increases.

• CAP approach

  CAP return

  Valuation

  6%

  $2,995,066

  6.5%

  $2,764,677

  7%

  $2,567,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,886,881

  Geo Method

  $3,703,747

• Alternative Use

  Use

  Valuation

  Residential

  $2,332,108

  Hospitality

  $2,136,198

  Educational

  $1,777,292

  Medical

  $1,838,416

  Retail

  $2,764,677

Location Insight

City

Gurnee

County

Lake

State

Illinois

Latitude

42.3799

Longitude

-87.9387

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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