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    1602 River Rd Des Plaines, IL 60018

    Sponsored
    For Sale
    $1,475,000

    High-traffic location, redevelopment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Des Plaines property, located at 1602 S River Rd, 60018, offers a prime retail opportunity. Currently operating as a Mobil gas station, this site presents significant potential for redevelopment. The asking price is $1,475,000. The substantial lot size allows for a variety of uses beyond its current configuration. A detailed business pro-forma is available upon request, outlining the financial projections for various development scenarios. The property's strategic location in Des Plaines, Illinois, ensures high visibility and accessibility, making it an attractive investment for entrepreneurs and developers alike. The property's high traffic count and prominent positioning along S River Rd offer exceptional exposure to a large customer base. Consider the possibilities of converting this site into a fast-food franchise or exploring other lucrative retail ventures. This is a rare opportunity to acquire a well-situated property with significant upside potential in a thriving market. Further information regarding other similar properties in the Northwest Suburban Chicago area, ranging from $1,700,000 to $3,750,000, is available upon request.

    Property Features for 1602 River Rd

    General Information

    Property type
    Automotive properties

    HighLights

    • Prime retail opportunity in Des Plaines, IL at 1602 S River Rd, 60018.
    • Currently operating as a Mobil gas station, offering redevelopment potential.
    • Asking price: $1,475,000.
    • Large lot size allows for diverse uses.
    • High visibility and accessibility on S River Rd, ensuring high traffic counts.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobil Gas Station Cardtronics ATM Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Des Plaines
    County
    Cook
    State
    Illinois
    Longitude
    -87.8770497
    Latitude
    42.024073

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    FAQs

    What type of property is this?
    Automotive property - High-traffic location, redevelopment opportunity.
    Where is this automotive property located?
    The property is located at 1602 River Rd Des Plaines, IL.
    What is the asking price?
    The asking price for this property is $1,475,000.
    What are key features of this property?
    This property features: Prime retail opportunity in Des Plaines, IL at 1602 S River Rd, 60018.; Currently operating as a Mobil gas station, offering redevelopment potential.; Asking price: $1,475,000.
    Request Owner's contact information
    1602 River Rd Des Plaines, IL 60018
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    Des Plaines, IL 60018
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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
    1602 River Rd Des Plaines, IL 60018
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