Two-Unit Strip Retail
106 W Rollins Rd, Round Lake Beach, IL 60073
For Sale
$1,292,000
The laundromat and bakery leases are fully NNN and include scheduled annual rent increases.
Property Size6,000 SF
Lot Size0.72 Acres
Price / SF$215.33
Days on Market19
Property Features for 106 W Rollins Rd
General Information
Standard status
Size
Lot size
Property subtype
Additional Details
Cap Rate
Tenant in Place
Amenities
Well-Located Two-Unit Retail Center Shadow Anchored by a High-Traffic ALDI (Top 15 Percent Nationally by Annual Visits)
Five Years of Weighted Average Lease Term
Both Leases Feature 3 Percent Annual Increases and Operate on Uncommonly Landlord Favorable NNN Leases – Limiting Landlord Responsibilities
Longterm Tenant Tenure – the Laundromat has Operated out of this Space Since 2008, while the Bakery has been a Tenant Since 2012
Visible to Over 30,000 Vehicles Per Day
Average Household Incomes Exceed $115,000 Annually
The In-Place Cap Rate should Grow by 25 Basis Points Per Year as a Result of the Leases Rental Increase Structure
Average Rents are Below Market and Replaceable at $17.50 Per Square Foot
Building Details
Building Size
Year Built
Tenancy
Listing Agency:
Marcus & Millichap - Chicago Downtown
Listed By:
Mitchell Kiven · License #License(s): IL: 475.164486
(312) 624-7006
Source:
Marcusmillichap
Added: Oct 19
Changed: Nov 6
Last Checked: Nov 6 at 3:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Chicago Downtown
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Investment Insights
Based on property information with market context.
This 6,000-square-foot, two-unit retail center was built in 2008 and sits on a 0.72-acre parcel. Its tenants are a laundromat and a bakery; both leases were extended for five years and include 3% annual rent increases. The agreements are fully NNN. The bakery operator also holds the right to run a food truck in the parking lot.
At 106 W Rollins Rd in Round Lake Beach, Illinois, the property occupies an outparcel next to an ALDI grocery store. The site is reported to have visibility to over 30,000 vehicles per day.
At 106 W Rollins Rd in Round Lake Beach, Illinois, the property occupies an outparcel next to an ALDI grocery store. The site is reported to have visibility to over 30,000 vehicles per day.
Key Highlights
- 6,000‑square‑foot center with two retail units
- Laundromat and bakery leases extended for five years
- Fully NNN leases include 3% annual rent increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,362
Cap Rate
4.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,227,240
$1.2M
Cap Rate 7%
$876,600
$876.6K
Cap Rate 9%
$681,800
$681.8K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$90.0K $15.00/SF
− Vacancy
−$2.3K −$0.39/SF
EGI
$87.7K $14.61/SF
− OpEx
−$26.3K −$4.38/SF
NOI
$61.4K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,227,240
Cap Rate 7%
$876,600
Cap Rate 9%
$681,800
Alternative Uses
Best Use
Retail
$876.6K
$767.0K – $1.02M
NOI $61,362 @ 7.0% cap · market cap 4.75%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.07M
$1.81M – $2.42M
NOI $145,007 @ 7.0% cap · market cap 11.22%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
53
Businesses Nearby
Explore this area
Business Placement
Demographics for 60073, IL
61,721
Population
20,864
Households
3
Avg Household Size
34
Median Age
27%
College-Educated
81%
High-School Grad
18.5 sq mi
ZIP Area
3,336
Density / Sq Mi
$95,457
Median Household Income
$43,228
Median Earnings
$1,461
Median Rent
$215,200
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - The laundromat and bakery leases are fully NNN and include scheduled annual rent increases.
Where is this strip mall located?
The property is located at 106 W Rollins Rd Round Lake Beach, IL.
What is the asking price?
The asking price for this property is $1,292,000.
What are key features of this property?
This property features: 6,000‑square‑foot center with two retail units; Laundromat and bakery leases extended for five years; Fully NNN leases include 3% annual rent increases
