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    2629 W Ave N Melrose Park, IL

    For Sale
    Contact for pricing

    Automotive property with long-term tenant in Melrose Park, IL.

    Property size:
    14,040 SF
    Lot size:
    1.60 Acres

    Property Features for 2629 W Ave N

    General Information

    Size
    14,040 SF
    Lot size
    1.60 Acres

    Source: SRS Real Estate Partners | Tampa Agent Patrick Luther

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

    Overview

    Melrose Park Automotive Property

    The property is tenanted by Advance Auto Parts, which has over 6 years remaining on its lease. The lease includes 3 (5-year) options to extend, indicating the tenant's commitment to the location. The lease agreement specifies rental increases of 7.5 to 10% at the beginning of each option period. The property has a size of 14,040 square feet and is located in Melrose Park, IL.
    Location Intelligence

    Current Use by Public Records

    Automotive properties

    Similar Places Nearby

    J & M Truck Wash, U-Haul Moving & Storage of Melrose Park, Penske Truck Rental, Trailer Rental at U-Haul, U-Box at U-Haul

    Map

    City
    Melrose Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.8567276
    Latitude
    41.9005865

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    FAQs

    What type of property is this?
    Automotive property - Automotive property with long-term tenant in Melrose Park, IL.
    Where is this automotive property located?
    The property is located at 2629 W Ave N Melrose Park, IL.
    What are key features of this property?
    This property features: - Tenant (Advance Auto Parts) has over 6 years remaining on the lease.; - Lease includes 3 (5-year) options to extend.; - Rental increases of 7.5 to 10% at the beginning of each option period.
    (949) 698-1115
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    2629 W Ave N Melrose Park, IL
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    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
    2629 W Ave N Melrose Park, IL
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