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    3331 Belvidere Rd Park City, IL 60085

    Sponsored
    For Sale
    $3,065,680

    Illinois Retail Investment, 100% Occupied

    Property size:
    14,868 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 14,868-square-foot, multi-tenant retail building situated on approximately two acres in Park City, Illinois, within the Chicago MSA (but outside Cook County). The property, constructed in 1991 and renovated in 2019, boasts a strong tenant mix, including a Family Dollar, Greenlight Dispensary, and Buddy's Cafe & Smoke Shop. All three tenants operate under passive net leases, minimizing landlord responsibilities. The property enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $245,254, resulting in an attractive 8.00% cap rate. The asking price is $3,065,680, with a remaining lease term of four years. This strategically located asset sits at the southwest corner of Belvidere Road and Knight Avenue, immediately east of Skokie Highway, benefiting from high visibility and significant vehicular traffic. The property's location within a thriving retail corridor, coupled with the expanding cannabis market and limited competition in the submarket, presents a compelling investment proposition. Detailed lease information and rent bump schedules are available in the offering memorandum. The strong demographics of the area, with over 166 residents in close proximity, further enhance the property's investment appeal. This is a rare opportunity to acquire a well-performing, triple-net leased retail portfolio in a desirable location with significant upside potential.

    Property Features for 3331 Belvidere Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,868 SF

    Building Details

    Year Built/Renovated
    1991/2019

    HighLights

    • Lake County, IL (Chicago MSA) investment opportunity with strong demographics.
    • 100% occupied retail center with strong tenant performance.
    • Diverse tenant mix of local and national businesses.
    • High‑traffic retail corridor with excellent access and visibility.
    • Expanding cannabis market in a limited‑license state presents a competitive advantage.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Park City
    County
    Lake
    State
    Illinois
    Longitude
    -87.883264220789
    Latitude
    42.347616893002

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    FAQs

    What type of property is this?
    Individual retail property - Illinois Retail Investment, 100% Occupied
    Where is this individual retail property located?
    The property is located at 3331 Belvidere Rd Park City, IL.
    What is the asking price?
    The asking price for this property is $3,065,680.
    What are key features of this property?
    This property features: Lake County, IL (Chicago MSA) investment opportunity with strong demographics.; 100% occupied retail center with strong tenant performance.; Diverse tenant mix of local and national businesses.
    Request Owner's contact information
    3331 Belvidere Rd Park City, IL 60085
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    Park City, IL 60085
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3331 Belvidere Rd Park City, IL 60085
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