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    819 Rdg Rd Wilmette, IL 60091

    Sponsored
    For Sale
    $895,000

    Prime Wilmette storefront, strong tenant, high NOI.

    Property size:
    1,936 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 1,936 square foot storefront at 819 Ridge Rd, Wilmette, IL 60091, presents a compelling investment or owner-user opportunity. The property, built in 1941, boasts a 100% occupancy rate with a corporate-guaranteed, month-to-month tenant (Lapels dry cleaners), willing to negotiate a long-term lease prior to closing. The current net operating income (NOI) is $57,000, yielding a 6.37% cap rate at an asking price of $895,000 ($462.29/sq ft). The property is classified as a stabilized, single-tenant, absolute NNN lease investment. A significant asset is the large parking lot, with 16 spaces currently leased to neighboring businesses. This free-standing building offers excellent visibility and is situated in a prime Wilmette location. The Lapels brand operates globally in over 500 locations, providing a strong and recognizable tenant. Consider this property for its redevelopment potential or as a stable, income-generating asset. The property is categorized as retail, with a storefront subtype.

    Property Features for 819 Rdg Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    1,936 SF

    Building Details

    Year Built
    1941
    Units
    1

    HighLights

    • 1,936 SF retail storefront at 819 Ridge Rd, Wilmette, IL, offering investment or owner‑user potential.
    • 100% occupied by Lapels Dry Cleaners (corporate‑guaranteed, month‑to‑month lease, open to long‑term).
    • $895,000 asking price, $462.29/SF, $57,000 NOI (6.37% cap rate).
    • Stabilized, single‑tenant, absolute NNN lease; 16‑space parking lot.
    • Excellent visibility in prime Wilmette location; redevelopment potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Gym & Fitness Skin Care Clinic Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Wilmette
    County
    Cook
    State
    Illinois
    Longitude
    -87.7228221
    Latitude
    42.0787122

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      901 Rdg Rd

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    FAQs

    What type of property is this?
    Individual retail property - Prime Wilmette storefront, strong tenant, high NOI.
    Where is this individual retail property located?
    The property is located at 819 Rdg Rd Wilmette, IL.
    What is the asking price?
    The asking price for this property is $895,000.
    What are key features of this property?
    This property features: 1,936 SF retail storefront at 819 Ridge Rd, Wilmette, IL, offering investment or owner-user potential.; 100% occupied by Lapels Dry Cleaners (corporate-guaranteed, month-to-month lease, open to long-term).; $895,000 asking price, $462.29/SF, $57,000 NOI (6.37% cap rate).
    Request Owner's contact information
    819 Rdg Rd Wilmette, IL 60091
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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
    819 Rdg Rd Wilmette, IL 60091
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