Freestanding Drive-Thru
720 E Rand Road Mount Prospect, IL 60056
New
720 E Rand Road, Mount Prospect, IL, 60056
$1,350,000
For Sale
$1,350,000
COMMERCIAL - Mount Prospect, IL
Property Size2,533 SF
Lot Size0.54 Acres
Price / SF$532.96
Days on Market2
Property Features for 720 E Rand Road
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- RTAIL
- Standard status
- Active
- APN
- 03344070140000
- Lot size
- 0.54 Acres
Taxes and HOA fees
- Tax Year
- 2023
- Tax Annual Amount
- 39702
Utilities
- Utilities
- Cable Available
- Cooling system
- Central Air
Building Details
- Year built
- 1994
- Floors in Building
- 2
- Number of units
- 1
- Flooring type
- Concrete, Varies, Tile
- Building materials
- Brick, Concrete, Block
- Roof type
- Membrane
Listing agency
RE/MAX At Home
(847) 255-1000
Listed by
Basel Tarabein · License #IL 471008459
(847) 255-1000
Added: Jul 20 Checked: Jul 21 at 9:06AM
MLS# 12705773
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.
A freestanding, masonry restaurant property with approximately 2,533 square feet on a 23,391-square-foot site. The building includes a complete commercial kitchen with black iron exhaust hoods, fire-suppression systems, a walk-in cooler, and included furniture, fixtures, and equipment, and is described as turnkey. The property also features existing drive-thru capability with a curb cut on Rand Road, approximately 25 parking spaces, and a modern facade with updated windows. Additional improvements noted include tuckpointing and upgraded rooftop heating and HVAC equipment, along with 200-amp electrical service.
The site is on the Rand Road retail and fast-food corridor, just south of the signalized intersection of Rand Road and Central Road, and directly across from Menards. Public remarks cite exposure to approximately 17,600 vehicles per day.
A second floor is included, with potential to expand upward or create an outdoor second-floor dining area, subject to municipal approval, according to the listing remarks. The property is offered as a bank pre-approved short sale, with the listing requesting that the current operator not be disturbed.
The site is on the Rand Road retail and fast-food corridor, just south of the signalized intersection of Rand Road and Central Road, and directly across from Menards. Public remarks cite exposure to approximately 17,600 vehicles per day.
A second floor is included, with potential to expand upward or create an outdoor second-floor dining area, subject to municipal approval, according to the listing remarks. The property is offered as a bank pre-approved short sale, with the listing requesting that the current operator not be disturbed.
Key Highlights
- 2,533 SF freestanding masonry restaurant on a 23,391 SF site in Mount Prospect’s Rand Road retail/fast‑food corridor
- Drive‑thru capability with a curb cut on Rand Road plus approximately 25 parking spaces
- B‑5 zoning; second floor offers potential (subject to municipal approval) to expand upward or add outdoor second‑floor dining
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $60.8k | $24.00 |
| − Vacancy | −$4.3k | −$1.68 |
| EGI | $56.5k | $22.32 |
| − OpEx | −$14.1k | −$5.58 |
| NOI | $42.4k | $16.74 |
2,533 SF · lease $24.00/SF/yr · vacancy 7.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$605.7K
$530.0K – $706.7K
NOI $42,402 @ 7.0% cap · market cap 3.14%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$874.5K
$765.2K – $1.02M
NOI $61,217 @ 7.0% cap · market cap 4.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Joe Donut
Bakery
Kronos
Employment Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Drive through restaurant - Freestanding masonry restaurant with drive-thru capability, turnkey kitchen buildout, and curb cut access from Rand Road.
Where is this drive through restaurant located?
The property is located at 720 E Rand Road Mount Prospect, IL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: 2,533 SF freestanding masonry restaurant on a 23,391 SF site in Mount Prospect’s Rand Road retail/fast‑food corridor; Drive‑thru capability with a curb cut on Rand Road plus approximately 25 parking spaces; B‑5 zoning; second floor offers potential (subject to municipal approval) to expand upward or add outdoor second‑floor dining
