Drive-Through Restaurant
For Sale
Under Contract
$449,900
1703 IL ROUTE 176, Crystal Lake, IL 60014
COMMERCIAL - Crystal Lake, IL
Property Size1,260 SF
Lot Size0.31 Acres
Price / SF$357.06
Days on Market849
Property Features for 1703 IL ROUTE 176
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
Route 176 corner of Nish Rd
Subdivision
Crystal Lake / Lakewood / Prairie Grove
Standard status
Active Under Contract
APN
1519330001
Lot size
0.31 Acres
Taxes and HOA fees
Tax Year
2022
Tax Annual Amount
6467
Utilities
Cooling system
Central Air
Building Details
Year built
1995
Floors in Building
1
Number of units
1
Flooring type
Concrete, Carpet
Building materials
Block
Listing Agency:
Ryan and Company REALTORS, Inc
(847) 526-0300
Listed By:
Sean Ryan · License #471000955
(847) 526-0300
Added: Apr 16, 2024
Changed: Aug 4
Last Checked: Aug 12 at 10:06AM
MLS# 12009610
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This commercial property is configured for a drive-through restaurant concept and is positioned on a full-access corner site. The building is approximately 1,260 square feet, and the roof is estimated to be about five years old, supporting continued use and operating plans.
The property is located on IL Route 176 in Crystal Lake, IL, on a busy traffic corridor. Public remarks also note multiple parcel PINs (15-19-330-001 through 15-19-330-019, plus 15-19-332-003) tied to differing zoning classifications, including B-1 and R-1.
Zoning and parcel details should be confirmed for final use, but the existing drive-through fit and straightforward site access make this property a practical option for restaurant operators seeking a Route 176 location in Crystal Lake.
The property is located on IL Route 176 in Crystal Lake, IL, on a busy traffic corridor. Public remarks also note multiple parcel PINs (15-19-330-001 through 15-19-330-019, plus 15-19-332-003) tied to differing zoning classifications, including B-1 and R-1.
Zoning and parcel details should be confirmed for final use, but the existing drive-through fit and straightforward site access make this property a practical option for restaurant operators seeking a Route 176 location in Crystal Lake.
Key Highlights
- 1260 SF building on a full‑access corner lot on busy Route 176
- Zoned B‑1 and R‑1 across multiple parcels: 15‑19‑330‑001 and 15‑19‑330‑019 (plus 15‑19‑332‑003)
- Good fit for a drive‑thru restaurant based on the stated zoning and layout intent
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,796
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,920
$295.9K
Cap Rate 7%
$211,371
$211.4K
Cap Rate 9%
$164,400
$164.4K
Market Conditions
NOI Build-Up for 1,260 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$21.2K $16.80/SF
− Vacancy
−$1.4K −$1.14/SF
EGI
$19.7K $15.66/SF
− OpEx
−$4.9K −$3.91/SF
NOI
$14.8K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,920
Cap Rate 7%
$211,371
Cap Rate 9%
$164,400
Alternative Uses
Best Use
Specialty Retail
$211.4K
$185.0K – $246.6K
NOI $14,796 @ 7.0% cap · market cap 3.29%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$435.0K
$380.6K – $507.5K
NOI $30,451 @ 7.0% cap · market cap 6.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
453k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 28%
Apparel 26%
Groceries 25%
Electronics 9%
Jewel-Osco
Groceries
56,908 visits/mo
0.1 miles
T.J. Maxx
Apparel
49,316 visits/mo
0.4 miles
Burlington
Apparel
44,868 visits/mo
0.4 miles
Mariano's
Groceries
40,088 visits/mo
0.4 miles
Best Buy
Electronics
39,522 visits/mo
0.2 miles
Demographics for 60014, IL
48,275
Population
18,135
Households
2.7
Avg Household Size
40
Median Age
42%
College-Educated
94%
High-School Grad
25.1 sq mi
ZIP Area
1,923
Density / Sq Mi
$104,657
Median Household Income
$50,805
Median Earnings
$1,429
Median Rent
$296,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Drive through restaurant - Full-access corner restaurant site on a busy Route 176 with a roof estimated at about five years old.
Where is this drive through restaurant located?
The property is located at 1703 IL ROUTE 176 Crystal Lake, IL.
What is the asking price?
The asking price for this property is $449,900.
What are key features of this property?
This property features: 1260 SF building on a full‑access corner lot on busy Route 176; Zoned B‑1 and R‑1 across multiple parcels: 15‑19‑330‑001 and 15‑19‑330‑019 (plus 15‑19‑332‑003); Good fit for a drive‑thru restaurant based on the stated zoning and layout intent
