Restaurant
New
For Sale
$2,500,000
545 Lakeview Parkway, Vernon Hills, IL 60061
Central air and an exhaust fan are installed, with COMMR zoning.
Property Size5,321 SF
Days on Market7
Property Features for 545 Lakeview Parkway
General Information
Standard status
Active
Size
5,321 SF
Property subtype
Business Opportunity
Zoning
COMMR
Taxes and HOA fees
Annual Taxes
$42,823
Amenities
Central Air, Exhaust Fan
Building Details
Building Size
5,321 SF
Stories
2
Listing Agency:
Coldwell Banker Realty
Listed By:
Nicholas Di Brizzi
(708) 846-5876
Source:
Evrealestate
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 2:25PM
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 Coldwell Banker Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This restaurant property at 545 Lakeview Parkway has central air and an exhaust fan. The property is zoned COMMR.
Access directions run from I-94 north to Townline Road, then west to Milwaukee Avenue and south to the property. It is in Lake County, Illinois.
Access directions run from I-94 north to Townline Road, then west to Milwaukee Avenue and south to the property. It is in Lake County, Illinois.
Key Highlights
- Central air conditioning
- Exhaust fan
- Zoned COMMR
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,952
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,959,040
$2.0M
Cap Rate 7%
$1,399,314
$1.4M
Cap Rate 9%
$1,088,356
$1.1M
Market Conditions
NOI Build-Up for 5,321 SF
Gross rent
$134.1K $25.20/SF
− Vacancy
−$3.5K −$0.66/SF
EGI
$130.6K $24.54/SF
− OpEx
−$32.7K −$6.14/SF
NOI
$98.0K $18.41/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,959,040
Cap Rate 7%
$1,399,314
Cap Rate 9%
$1,088,356
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,952 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,597 @ 7.0% cap · market cap 5.14%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,243
Businesses Nearby
689k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 44%
Shops & Services 19%
Superstores 12%
Home Improvements & Furnishings 12%
Walmart
Superstores
84,786 visits/mo
0.2 miles
Macy's
Apparel
70,350 visits/mo
0.5 miles
DICK'S Sporting Goods
Apparel
48,844 visits/mo
0.1 miles
T.J. Maxx
Apparel
45,126 visits/mo
0.2 miles
Nordstrom Rack
Apparel
39,179 visits/mo
0.4 miles
Demographics for 60061, IL
27,581
Population
11,649
Households
2.4
Avg Household Size
41
Median Age
66%
College-Educated
96%
High-School Grad
8.4 sq mi
ZIP Area
3,283
Density / Sq Mi
$121,588
Median Household Income
$60,647
Median Earnings
$1,862
Median Rent
$390,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Central air and an exhaust fan are installed, with COMMR zoning.
Where is this conventional restaurant located?
The property is located at 545 Lakeview Parkway Vernon Hills, IL.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: Central air conditioning; Exhaust fan; Zoned COMMR
