Grocery Store with Long-Term
545 N Hicks Rd, Palatine, IL 60067
For Sale
Contact for pricing
A Kroger-backed tenant has operated at the Palatine site since 2012.
Property Size71,324 SF
Price / SF$495.58
Days on Market42
Property Features for 545 N Hicks Rd
General Information
Standard status
Size
Property subtype
Additional Details
Tenant in Place
Building Details
Tenancy
Listing Agency:
CBRE - Oak Brook
Listed By:
Keegan Barrett · License #475190002
(630) 368-4699
Source:
Crexi
Added: Sep 29
Changed: Nov 8
Last Checked: Nov 8 at 3:56PM
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 CBRE - Oak Brook
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
The grocery property at 545 N Hicks Rd in Palatine, Illinois, contains 71,324 square feet and is occupied by Mariano’s Fresh Market. The tenant has been at this location since 2012, and its lease now extends through 2040. The lease carries a corporate guarantee from The Kroger Company, with scheduled rent increases and option periods outlined in the agreement.
Rent is scheduled to rise 5% every five years. During the first four option periods, increases are 12.5% every five years.
Rent is scheduled to rise 5% every five years. During the first four option periods, increases are 12.5% every five years.
Key Highlights
- 71,324‑square‑foot Mariano’s Fresh Market in Palatine
- Lease term runs through 2040
- The Kroger Company provides a corporate guarantee
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,193,964
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,879,280
$23.9M
Cap Rate 7%
$17,056,629
$17.1M
Cap Rate 9%
$13,266,267
$13.3M
Market Conditions
NOI Build-Up for 71,324 SF
Gross rent
$1.71M $24.00/SF
− Vacancy
−$119.8K −$1.68/SF
EGI
$1.59M $22.32/SF
− OpEx
−$398.0K −$5.58/SF
NOI
$1.19M $16.74/SF
Area
Cook County, IL
Vacancy
7.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$23,879,280
Cap Rate 7%
$17,056,629
Cap Rate 9%
$13,266,267
Alternative Uses
Best Use
Specialty Retail
$17.06M
$14.92M – $19.90M
NOI $1,193,964 @ 7.0% cap · market cap 3.38%
Second Best
Retail
$14.33M
$12.54M – $16.72M
NOI $1,003,199 @ 7.0% cap · market cap 2.84%
Theoretical Best
Office A
$27.39M
$23.96M – $31.95M
NOI $1,917,189 @ 7.0% cap · market cap 5.42%
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
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
823
Businesses Nearby
122k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 44%
Groceries 28%
Shops & Services 21%
Home Improvements & Furnishings 7%
Mariano's
Groceries
33,540 visits/mo
0.2 miles
Wendy's
Dining
16,135 visits/mo
0.4 miles
Starbucks
Dining
15,404 visits/mo
0.5 miles
Dollar Tree
Shops & Services
13,908 visits/mo
0.3 miles
Taco Bell
Dining
13,247 visits/mo
0.4 miles
Demographics for 60067, IL
39,324
Population
16,039
Households
2.5
Avg Household Size
43
Median Age
59%
College-Educated
96%
High-School Grad
13.0 sq mi
ZIP Area
3,025
Density / Sq Mi
$121,572
Median Household Income
$64,520
Median Earnings
$1,521
Median Rent
$427,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Average Price Trend$/SF for Grocery and convenience stores in Cook County, IL
Properties on Market for Grocery and convenience stores in Cook County
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Eurofresh Market — 130 W Northwest Hwy, Palatine, IL 60067
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - A Kroger-backed tenant has operated at the Palatine site since 2012.
Where is this grocery and convenience store located?
The property is located at 545 N Hicks Rd Palatine, IL.
What is the asking price?
The asking price for this property is $35,347,000.
What are key features of this property?
This property features: 71,324‑square‑foot Mariano’s Fresh Market in Palatine; Lease term runs through 2040; The Kroger Company provides a corporate guarantee
