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    501 W North Ave Melrose Park, IL 60160

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    For Sale
    $3,500,000

    High-visibility corner lot with drive-thru potential near major amenities.

    Property size:
    47,975 SF
    Lot size:
    2.45 Acres

    Property Features for 501 W North Ave

    General Information

    Size
    47,975 SF
    Lot size
    2.45 Acres

    Source: JBS Commercial Real Estate Agent Jason Shibata

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

    Overview

    Prime Corner Lot with Visibility

    This property benefits from close proximity to numerous area restaurants, hotels, and shopping amenities. A drive-thru is available. The location features a signalized corner with high visibility and a traffic count of approximately 57,000 vehicles per day. New immediate area amenities include Costco, Amazon, Target, Jewel Osco, Meyer, Triton College, and Gottlieb Memorial Hospital (Loyola Medicine). The property size is 47,975 square feet.
    Location Intelligence

    Current Use by Public Records

    First Midwest Corporation ... Loan Agency Beth Black - State ... Insurance Agency Julie A Moore, MD Dermatologist Moore Dermatology Associates Dermatologist Melanie Adamsky, MD Urologist

    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
    Melrose Park
    County
    Cook
    State
    Illinois
    Longitude
    -87.840648
    Latitude
    41.909249

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    FAQs

    What type of property is this?
    Drive through restaurant - High-visibility corner lot with drive-thru potential near major amenities.
    Where is this drive through restaurant located?
    The property is located at 501 W North Ave Melrose Park, IL.
    What is the asking price?
    The asking price for this property is $3,500,000.
    What are key features of this property?
    This property features: - High Traffic Count: Approximately 57,000 Vehicles Per Day; - Signalized Corner with High Visibility; - Drive-Thru Available
    (312) 462-1020
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    501 W North Ave Melrose Park, IL 60160
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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
    501 W North Ave Melrose Park, IL 60160
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