Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    20201 Rand Rd Palatine, IL 60074

    Sponsored
    For Sale
    $7,775,000

    High-Yield NNN Ground Lease Investment

    Property size:
    5,938 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a brand-new, 5,938 square-foot Thorntons gas station and convenience store situated on a 5.18-acre lot in Palatine, Illinois. Located at 20201 N Rand Rd (US Route 12), this property benefits from high visibility and traffic volume exceeding 49,700 vehicles per day. The property features a drive-thru and 15 fuel pumps. The absolute NNN ground lease boasts a 20-year primary term commencing June 1, 2023, and expiring May 31, 2043, with six 5-year options. Rent increases by 10% every five years, providing built-in inflation protection. The asking price is $7,775,000, representing a price per square foot of $1,309.36 and a 4.50% cap rate. The property's Net Operating Income (NOI) is $350,000, with 100% occupancy. This location is less than a mile from a major retail corridor encompassing over 1.1 million square feet of retail space, including prominent retailers such as Best Buy, Dick's Sporting Goods, and Whole Foods. The property's strategic location within the Chicago MSA (population 8.9 million) offers significant growth potential and strong demographics. This is an ideal investment for those seeking a low-maintenance, high-return asset with long-term, predictable cash flow. The property's APN is 1435302030.

    Property Features for 20201 Rand Rd

    General Information

    Property type
    Automotive properties
    Square Feet
    5,938 SF
    Lot Size
    225,641 SF

    HighLights

    • Brand new 20‑year absolute NNN ground lease with Thornton's Gas & Convenience Store.
    • High‑visibility corner lot on Rand Rd (Hwy 12), a major commercial thoroughfare.
    • Strong corporate guarantee from Thorntons LLC (backed by BP).
    • Located in an affluent Chicago suburb, 14 miles from O'Hare, with significant residential growth.
    • New 2023 prototype travel center with a large convenience store, drive‑thru, and 5.18‑acre site.
    • Excellent location near major retail centers, including Deer Park Town Center and Shops at Kildeer.
    Property Profile Location Intelligence

    Current Use by Public Records

    Grounds Group Landscaper Mitch's Green Thumb ... Landscaper Fire & Water Restoration Water Damage Restoration Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Lake
    State
    Illinois
    Longitude
    -88.04235
    Latitude
    42.1567113

    Nearby Similar for Sale

    • $85,000
      0.05 Acres

      Cosmetology School & Salon Business

      Remodeled cosmetology school and salon business for sale.
      9999 Confidential Ave, Palatine, IL 60067
      View Details
    • Contact for pricing
      0.91 Acres

      Retail Space in Palatine, IL

      Retail space available at a busy Palatine intersection.
      169 W Northwest Hwy, Palatine, IL 60067
      View Details
    • $450,000
      0.14 Acres

      Remodeled Office Building with Manufacturing Zoning

      Remodeled office building for sale with manufacturing zoning.
      707 W Colfax St, Palatine, IL 60067
      View Details
    • $350,000
      0.23 Acres

      Palatine Office Building For Sale

      Commercial building in Plum Grove Office Park, Palatine, Illinois.
      502 N Plum Grove Rd, Palatine, IL 60067
      View Details
    • $399,800
      1,782 SF

      Spacious Townhome with Finished Basement

      Updated 2-bedroom townhome with finished basement and private outdoor space.
      1535 W Ethans Glen Dr, Palatine, IL 60067
      View Details
    • $2,500,000
      21,500 SF

      Iconic Palatine Commercial Redevelopment Opportunity

      21,500 SF building with redevelopment potential in downtown Palatine.
      180 N Smith St, Palatine, IL 60067
      View Details
    • $4,300,000
      3,010 SF

      Palatine Retail Building For Sale

      3,010 SF building on 0.79 acre site for sale.
      404 E Palatine Rd, Palatine, IL 60067
      View Details
    • $173,500

      Bayside Drive Condo with Potential

      Fixer-upper condo with communal amenities and convenient location.
      3400 Bayside Dr, Palatine, IL 60074
      View Details
    • Contact for pricing
      2,300 SF

      Turn-Key Dental Office Space

      Fully equipped dental office in prime location ready for immediate occupancy.
      741 E Dundee Rd, Palatine, IL 60074
      View Details
    • $220,000
      1,200 SF

      Willow Creek First Floor Unit

      First floor unit with community pool access and indoor parking.
      245 S Park Ln, Palatine, IL 60074
      View Details
    • Contact for pricing
      1,744 SF

      Turnkey Restaurant with Drive-Thru

      1,744 SF restaurant with drive-thru on half-acre lot.
      1158 E Dundee Rd, Palatine, IL 60074
      View Details
    • $450,000
      3,000 SF

      Free-Standing Building in Palatine

      3,000 SF building in high-traffic Palatine location.
      205 Hicks Pl, Palatine, IL 60067
      View Details

    FAQs

    What type of property is this?
    Automotive property - High-Yield NNN Ground Lease Investment
    Where is this automotive property located?
    The property is located at 20201 Rand Rd Palatine, IL.
    What is the asking price?
    The asking price for this property is $7,775,000.
    What are key features of this property?
    This property features: Brand new 20-year absolute NNN ground lease with Thornton's Gas & Convenience Store.; High-visibility corner lot on Rand Rd (Hwy 12), a major commercial thoroughfare.; Strong corporate guarantee from Thorntons LLC (backed by BP).
    Request Owner's contact information
    20201 Rand Rd Palatine, IL 60074
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    20201 Rand Rd
    Palatine, IL 60074
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    20201 Rand Rd Palatine, IL 60074
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.