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    20227 N Rand Rd Palatine, IL 60074

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    For Sale
    $7,775,000

    Brand new gas and convenience store with a long-term lease.

    Property size:
    5,938 SF
    Lot size:
    1.48 Acres

    Property Features for 20227 N Rand Rd

    General Information

    Size
    5,938 SF
    Lot size
    1.48 Acres

    Source: Colliers | Chicago Rosemont Agent Peter Block

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

    Overview

    New Gas Station Ground Lease

    This property features a brand new 20-year absolute NNN corporate ground lease held by Thornton’s Gas & Convenience Store. The property is positioned on a high-profile signalized corner along Rand Road (Highway 12), a main commercial artery through the city. The lease is backed by a strong corporate guarantee from Thortons LLC, which operates over 200 locations and has been purchased by BP (NASDAQ: BP). The property size is 5,938 square feet.
    Location Intelligence

    Current Use by Public Records

    Gas stations

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Cook
    State
    Illinois
    Longitude
    -88.0422933
    Latitude
    42.1573071

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    FAQs

    What type of property is this?
    Gas station - Brand new gas and convenience store with a long-term lease.
    Where is this gas station located?
    The property is located at 20227 N Rand Rd Palatine, IL.
    What is the asking price?
    The asking price for this property is $7,775,000.
    What are key features of this property?
    This property features: - Brand new 20 year absolute NNN Corp. ground lease; - Strong Corp guarantee by Thortons LLC (200+ locations); - Purchased by BP (NASDAQ: BP)
    (312) 343-1800
    Request Owner's contact information
    20227 N Rand Rd Palatine, IL 60074
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    Palatine, IL 60074
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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
    20227 N Rand Rd Palatine, IL 60074
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