2566 Skokie Valley RdHighland Park, IL 60035

Property Details for 2566 Skokie Valley Rd

Year built

1979

Construction

BRICK

Lot size

0.76 AC

Property size (Sq ft)

3,002 SF

Property type

Turn key restaurants

APN

16-16-408-010

APU

1616408010

Description

This fee-simple Taco Bell property in Highland Park, IL, offers a compelling net lease investment opportunity. The 3,002 square foot restaurant sits on a 0.76-acre lot and boasts a strong 5.40% cap rate with a current NOI of $97,663. The absolute NNN lease with the franchisee tenant, AG Bells II, LLC, has approximately 12.1 years remaining, including four 5-year renewal options. Rent increases by 10% every five years. The property benefits from its high-visibility location on Skokie Valley Road, a major thoroughfare with over 55,000 vehicles per day, and proximity to Half Day Road (20,000+ VPD). This prime location is part of a high-profile retail corridor with numerous national brands. The surrounding area demonstrates strong demographics, with an affluent population exceeding 105,000 residents within a 5-mile radius and an average household income over $173,000. Annual food and beverage spending within this radius surpasses $440 million. The property's location within the Chicago MSA, the third largest in the country, further enhances its investment potential. Built in 1979, this Taco Bell represents a stable, long-term investment with significant upside potential due to the brand's popularity and the favorable lease terms. The asking price is $1,808,593, translating to $602.46 per square foot.

• CAP approach

  CAP return

  Valuation

  6%

  $796,809

  6.5%

  $735,516

  7%

  $682,979

• Comparable approach

  Method

  Valuation

  Relative Method

  $768,027

  Geo Method

  $985,346

• Alternative Use

  Use

  Valuation

  Residential

  $620,435

  Hospitality

  $568,315

  Educational

  $472,832

  Medical

  $489,093

  Retail

  $735,516

Location Insight

City

Highland Park

County

Lake

State

Illinois

Latitude

42.199

Longitude

-87.8328

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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