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    850 Tower Dr Lake Villa, IL 60046

    Sponsored
    For Sale
    $4,200,000

    Fully occupied, high-yield retail center.

    Property size:
    1 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully occupied, 100% leased shopping center located at 850 Tower Drive, Lake Villa, Illinois, 60046. The property, built in 2006, boasts a total of 1 square foot of retail space and sits on a 1.75-acre lot zoned for commercial use. Currently operating under a triple-net (NNN) lease agreement with multiple tenants, the center generates a substantial net operating income (NOI) of $208,471, resulting in an attractive 7.06% capitalization rate. The asking price for this prime retail asset is $4,200,000. Strategically positioned on the southwest corner of Grass Lake Road and Deep Lake Road, this shopping center benefits from high visibility and convenient access for customers. The property's strong tenancy and consistent cash flow make it an ideal addition to any investment portfolio seeking stable returns in a thriving commercial market. This is a rare opportunity to acquire a well-established, high-performing retail property in a desirable location. The property's 2006 construction date suggests a relatively newer building with potential for long-term value appreciation. The 100% occupancy rate minimizes vacancy risk and ensures a steady stream of income. The property's commercial zoning allows for flexibility and potential future development opportunities.

    Property Features for 850 Tower Dr

    General Information

    Property type
    Lifestyle centers
    Square Feet
    1 SF
    Lot Size
    76,230 SF

    Building Details

    Year Built
    2006

    HighLights

    • Fully occupied, 100% leased shopping center.
    • Located at 850 Tower Drive, Lake Villa, IL 60046, on a 1.75‑acre lot.
    • 1 square foot of retail space, built in 2006, with a triple‑net (NNN) lease.
    • $4,200,000 asking price, generating a $208,471 NOI and a 7.06% cap rate.
    • High‑visibility corner location at Grass Lake Rd and Deep Lake Rd.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage Wholesale Shop Hair Salon Clothing Store Nail Salon Gym & Fitness Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Lake Villa
    County
    Lake
    State
    Illinois
    Longitude
    -88.0646517
    Latitude
    42.4409068

    Nearby Similar for Sale

    • $289,000
      0.39 Acres

      Lake Villa Commercial Opportunity

      Restaurant/bar with apartment and multiple income streams for sale.
      211 W Grass Lake Rd, Lake Villa, IL 60046
      View Details
    • $3,250,000
      16,299 SF

      Lake Villa Retail Opportunity

      Retail property for sale in Lake Villa, Illinois.
      855 E Grand Ave, Lake Villa, IL
      View Details
    • $1,800,000
      5,788 SF

      Lake Villa Industrial Property - $1.8M

      Flex, Manufacturing, Warehouse - 5,788 SF
      35220 Illinois 83, Lake Villa, IL 60046
      View Details
    • $779,000
      15,300 SF

      Lake Villa Office Building Investment

      Multi-tenant office building, high occupancy.
      95 Grand Ave, Lake Villa, IL 60046
      View Details

    FAQs

    What type of property is this?
    Lifestyle center - Fully occupied, high-yield retail center.
    Where is this lifestyle center located?
    The property is located at 850 Tower Dr Lake Villa, IL.
    What is the asking price?
    The asking price for this property is $4,200,000.
    What are key features of this property?
    This property features: Fully occupied, 100% leased shopping center.; Located at 850 Tower Drive, Lake Villa, IL 60046, on a 1.75-acre lot.; 1 square foot of retail space, built in 2006, with a triple-net (NNN) lease.
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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
    850 Tower Dr Lake Villa, IL 60046
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