Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1116 Diamond Lk Rd Mundelein, IL

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $1,450,000

    Fully equipped restaurant, convenience store, and residential units for sale.

    Property size:
    12,875 SF
    Lot size:
    0.38 Acres

    Property Features for 1116 Diamond Lk Rd

    General Information

    Size
    12,875 SF
    Lot size
    0.38 Acres

    Source: Caton Commercial Agent Beth Petri

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Mundelein Mixed-Use Investment Opportunity

    This property features a fully equipped, currently active restaurant suitable for an owner/user. The sale includes a transferrable gaming and liquor license, subject to background check and no name change. In addition to the restaurant, the property includes a fully leased convenience store and two residential units. The restaurant, family-owned with over 40 years of history in the Mundelein area, offers upside potential for increased sales through extended hours and participation in village events. Furniture, fixtures, and equipment (FF&E) are included in the sale. The property also features off-street parking and a storage shed. The property size is 12875 square feet.
    Location Intelligence

    Current Use by Public Records

    Conventional restaurants

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mundelein
    County
    Lake
    State
    Illinois
    Longitude
    -88.0039653
    Latitude
    42.263079

    Nearby Similar for Sale

    • $700,000

      Auto Repair Shop For Sale

      Auto repair shop with bays and ample parking.
      825 E Us Hwy, Mundelein, IL 60060
      View Details
    • New
      $350,000
      Pending

      Mundelein Commercial Building For Sale

      3250 sq ft building in Mundelein, currently leased to restaurant.
      510 E Hawley St, Mundelein, IL 60060
      View Details
    • $1,645,000
      1,794 SF

      Automotive Repair Shop For Sale

      Net-leased automotive repair shop with long-term lease in Mundelein, IL.
      1079 W Maple Ave, Mundelein, IL
      View Details
    • Contact for pricing
      4,976 SF

      Bank Ground Lease Opportunity

      Long-term ground lease with rent escalations in Mundelein, Illinois.
      3196 W Il Rte, Mundelein, IL
      View Details
    • $280,000
      6,010 SF

      Downtown Mundelein Commercial Property For Sale

      Commercial property in downtown Mundelein, walking distance to amenities.
      516 N Seymour Ave, Mundelein, IL 60060
      View Details
    • $14,974,000
      89,357 SF

      Mundelein Retail Investment Opportunity

      Retail property in thriving economy with national tenants.
      1501-1575 S Lake St, Mundelein, IL 60060
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Fully equipped restaurant, convenience store, and residential units for sale.
    Where is this conventional restaurant located?
    The property is located at 1116 Diamond Lk Rd Mundelein, IL.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: - Fully Equipped Restaurant with Transferrable Gaming and Liquor License; - Includes Leased Convenience Store and 2 Residential Units for Income; - FF&E Included in Sale
    (815) 436-5700
    Request Owner's contact information
    1116 Diamond Lk Rd Mundelein, IL
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1116 Diamond Lk Rd
    Mundelein, IL
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1116 Diamond Lk Rd Mundelein, IL
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.