305 Lincoln Hwy, Franklin Grove, IL 61031

Building Details

Year Built 2026 More

Tenancy Single More

Listing Agency: The Boulder Group

Listed By: Randy Blankstein · License IL #471005983 Show Phone

Source: Crexi

Added: Mar 2 Changed: Aug 8 Last Checked: Aug 10 at 4:30AM

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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 The Boulder Group

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Investment Insights

Based on property information with market context.

This retail property offers a capitalization rate of 6.65%. The property is a new build with a property size of 10640 square feet. The property is intended for retail use and is located in Franklin Grove, IL.

Key Highlights

• 6.65% Cap Rate
• New Build
• Year Built: 2026

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$130,578

Cap Rate

6.84%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,611,560 $2.6M

Cap Rate 7%

$1,865,400 $1.9M

Cap Rate 9%

$1,450,867 $1.5M

Is this asking price fair?

Market Conditions

NOI Build-Up for 10,640 SF

Gross rent

$191.5K $18.00/SF

− Vacancy

−$5.0K −$0.47/SF

EGI

$186.5K $17.53/SF

− OpEx

−$56.0K −$5.26/SF

NOI

$130.6K $12.27/SF

Area

Lee County, IL

Vacancy

2.60%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$2,611,560

Cap Rate 7%

$1,865,400

Cap Rate 9%

$1,450,867

Alternative Uses

Best Use

Retail

$1.87M

$1.63M – $2.18M (±1% cap)

NOI $130,578 @ 7.0% cap · market cap 6.84%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$2.90M

$2.54M – $3.38M (±1% cap)

NOI $203,011 @ 7.0% cap · market cap 10.63%

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

Open Analytics

Current Use

Retail properties & Spaces

Suggested Use

Top Pick Parking Lot & Garage Auto Repair Shop Building Supply (Bike/Boat/Book/etc) Store Grocery & Convenience Store Cafe & Coffee Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

80

Businesses Nearby

Explore this area Business Placement

Demographics for 61031, IL

1,430

Population

654

Households

2.2

Avg Household Size

46

Median Age

26%

College-Educated

94%

High-School Grad

44.9 sq mi

ZIP Area

32

Density / Sq Mi

$74,050

Median Household Income

$39,907

Median Earnings

$822

Median Rent

$148,600

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

Frequently Asked Questions

What type of property is this?

Retail property - Retail property with limited competition and new construction.

Where is this retail property located?

The property is located at 305 Lincoln Hwy Franklin Grove, IL.

What is the asking price?

The asking price for this property is $1,909,896.

What are key features of this property?

This property features: 6.65% Cap Rate; New Build; Year Built: 2026