819 Ridge Rd Wilmette, IL 60091
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Prime Wilmette storefront, strong tenant, high NOI.
Property size:
1,936 SFProperty Features for 819 Ridge Rd
General Information
- Property type
- Individual retail properties
- Square Feet
- 1,936 SF
Building Details
- Year Built
- 1941
- Units
- 1
Listing Agency: Berkshire Hathaway HomeServices KoenigRubloff Realty Group Glenview Listing Agent: Ioannis Ress
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Wilmette
- County
- Cook
- State
- Illinois
- Longitude
- -87.7228221
- Latitude
- 42.0787122
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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 Ridge 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).