Gurnee, IL Chili's
6030 Grand Ave, Gurnee, IL 60031
For Sale
Contact for pricing
Single-tenant Chili's in Gurnee, Illinois near Gurnee Mills.
Property Size5,331 SF
Price / SF$572.13
Days on Market288
Property Features for 6030 Grand Ave
General Information
Standard status
Size
Property subtype
Zoning
Occupancy
Lease Type
Investment Type
Net Operating Income
Building Details
Year Built
Year Renovated
Buildings
Stories
Tenancy
Listing Agency:
Keller Williams Infinity
Listed By:
Omar Tharani · License IL #475171491
(630) 768-1626
Source:
Crexi
Added: Jan 28
Changed: Aug 8
Last Checked: Apr 12 at 7:51PM
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 Keller Williams Infinity
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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 commercial property in Gurnee, IL, presents an opportunity to purchase a single-tenant Chili's restaurant operating under an absolute NNN lease. Constructed in 1993 and renovated in 2021, the property benefits from a corporate-guaranteed lease with approximately 8 years remaining. The property is located at the main entrance to Gurnee Mills, a large outlet and retail shopping destination in Illinois attracting over 20 million annual visitors. The surrounding area has a population exceeding 120,000, with average household incomes above $130,000 within a 5-mile radius. The building has a size of 5,331 square feet.
Key Highlights
- Absolute NNN lease with corporate guarantee from Chili's, providing a passive investment.
- Approximately 8 years of remaining lease term.
- Located at the main entrance to Gurnee Mills, a major retail destination with 20 million annual visitors.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$98,136
Cap Rate
3.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,962,720
$2.0M
Cap Rate 7%
$1,401,943
$1.4M
Cap Rate 9%
$1,090,400
$1.1M
Market Conditions
NOI Build-Up for 5,331 SF
Gross rent
$134.3K $25.20/SF
− Vacancy
−$3.5K −$0.66/SF
EGI
$130.8K $24.54/SF
− OpEx
−$32.7K −$6.14/SF
NOI
$98.1K $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%
$1,962,720
Cap Rate 7%
$1,401,943
Cap Rate 9%
$1,090,400
Alternative Uses
Best Use
Specialty Retail
$1.40M
$1.23M – $1.64M
NOI $98,136 @ 7.0% cap · market cap 3.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.45M
$1.27M – $1.70M
NOI $101,755 @ 7.0% cap · market cap 3.34%
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
Location Intelligence
Trade Area within ½ mile
895
Businesses Nearby
702k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 37%
Dining 36%
Shops & Services 15%
Home Improvements & Furnishings 9%
Bass Pro Shops
Apparel
133,950 visits/mo
0.3 miles
Kohl's
Apparel
84,943 visits/mo
0.2 miles
Portillo's
Dining
69,243 visits/mo
0.5 miles
Hobby Lobby
Shops & Services
55,908 visits/mo
0.4 miles
Menards
Home Improvements & Furnishings
52,521 visits/mo
0.3 miles
Demographics for 60031, IL
37,650
Population
14,796
Households
2.5
Avg Household Size
42
Median Age
54%
College-Educated
95%
High-School Grad
19.0 sq mi
ZIP Area
1,982
Density / Sq Mi
$114,008
Median Household Income
$56,770
Median Earnings
$1,601
Median Rent
$322,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Conventional restaurants in Lake County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Conventional restaurant - Single-tenant Chili's in Gurnee, Illinois near Gurnee Mills.
Where is this conventional restaurant located?
The property is located at 6030 Grand Ave Gurnee, IL.
What is the asking price?
The asking price for this property is $3,050,000.
What are key features of this property?
This property features: Absolute NNN lease with corporate guarantee from Chili's, providing a passive investment.; Approximately 8 years of remaining lease term.; Located at the main entrance to Gurnee Mills, a major retail destination with 20 million annual visitors.
