Two-Story Mixed-Use
For Sale
$790,000
700 Northwest Highway, Fox River Grove, IL 60021
Commercial Sale, Fox River Grove, IL
Property Size4,428 SF
Lot Size0.50 Acres
Price / SF$178.41
Days on Market545
Property Features for 700 Northwest Highway
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
On Route 14. East of School St.
Subdivision
Fox River Grove
Standard status
Active
APN
2020130021
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
22722
Utilities
Utilities
Natural Gas Available
Cooling system
Central Air
Building Details
Year built
2000
Floors in Building
2
Number of units
5
Building materials
Block
Listing Agency:
Parkvue Realty Corporation
(312) 788-4040
Listed By:
Anthony Disano · License #471010606
(786) 206-9888
Added: Apr 9, 2025
Changed: Aug 20
Last Checked: Oct 5 at 2:06PM
MLS# 12290150
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains 4,428 sqft of commercial and residential space, with restaurant, warehouse/garage, and apartment components. The restaurant/bar area includes a commercial kitchen with a pizza oven, hood with an Ansul system, stove, fryers, walk-in cooler, and grease trap. A full basement provides additional storage. The building also includes four apartments: two two-bedroom, one-bath units and two one-bedroom, one-bath units. Block construction, central air, and natural gas availability are reported, with a 2000 construction date.
Located at 700 Northwest Highway in Fox River Grove, the property has 81' of frontage along Northwest Hwy and sits within a commercial corridor near office space, schools, recreation, and transportation. The zoning designation is COMMR.
Located at 700 Northwest Highway in Fox River Grove, the property has 81' of frontage along Northwest Hwy and sits within a commercial corridor near office space, schools, recreation, and transportation. The zoning designation is COMMR.
Key Highlights
- 4,428 sqft two‑story mixed‑use building
- Restaurant/bar area with pizza oven, Ansul system, walk‑in cooler, fryers, and grease trap
- Four apartments: two 2‑bed/1‑bath units and two 1‑bed/1‑bath units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,999
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,980
$1.0M
Cap Rate 7%
$742,843
$742.8K
Cap Rate 9%
$577,767
$577.8K
Market Conditions
NOI Build-Up for 4,428 SF
Gross rent
$74.4K $16.80/SF
− Vacancy
−$5.1K −$1.14/SF
EGI
$69.3K $15.66/SF
− OpEx
−$17.3K −$3.91/SF
NOI
$52.0K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,039,980
Cap Rate 7%
$742,843
Cap Rate 9%
$577,767
Alternative Uses
Best Use
Specialty Retail
$742.8K
$650.0K – $866.7K
NOI $51,999 @ 7.0% cap · market cap 6.58%
Second Best
Mixed Use
$654.7K
$572.9K – $763.8K
NOI $45,830 @ 7.0% cap · market cap 5.80%
Theoretical Best
Office A
$1.53M
$1.34M – $1.78M
NOI $107,015 @ 7.0% cap · market cap 13.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Yes
Commercial hood
Yes
Grease trap
Location Intelligence
Trade Area within ½ mile
215
Businesses Nearby
Explore this area
Business Placement
Demographics for 60021, IL
5,404
Population
1,968
Households
2.7
Avg Household Size
42
Median Age
42%
College-Educated
98%
High-School Grad
2.0 sq mi
ZIP Area
2,702
Density / Sq Mi
$122,005
Median Household Income
$59,030
Median Earnings
$2,134
Median Rent
$286,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Includes restaurant, warehouse/garage, and residential apartment components.
Where is this mixed-use property located?
The property is located at 700 Northwest Highway Fox River Grove, IL.
What is the asking price?
The asking price for this property is $790,000.
What are key features of this property?
This property features: 4,428 sqft two‑story mixed‑use building; Restaurant/bar area with pizza oven, Ansul system, walk‑in cooler, fryers, and grease trap; Four apartments: two 2‑bed/1‑bath units and two 1‑bed/1‑bath units
