1455 Dilleys Rd Gurnee, IL 60031-1706

Property Details for 1455 Dilleys Rd

Year built

2006

Construction

FRAME

Lot size

2.00 lot acres

Property size

11,284 SF

Property type

Turn key restaurants

APN

07-15-100-124

APU

715100124

Description

Prime Gurnee, IL location, this multi-tenant property offers a compelling value-add opportunity. The 31,770 square foot center features nine tenants, including a freestanding Golden Corral restaurant on an absolute NNN lease with a corporate guarantee. Currently boasting 85.6% occupancy, there's 3,550 square feet of contiguous space available for lease, presenting significant potential to increase the Net Operating Income (NOI) by approximately 20%. The property sits on a 2.96-acre lot with 150 parking spaces and benefits from a strong tenant mix including medical services (orthodontics, chiropractic, eye care, veterinary) and retail, creating a resilient investment profile. Built in 2007, the two single-story buildings are zoned C-2: COMMUNITY COMMERCIAL DISTRICT. The property's strategic location between Gurnee Mills Mall, Six Flags Great America, and Great Wolf Lodge ensures high traffic and visibility. Built-in rent bumps provide further income growth potential. The current NOI is $377,831, with a pro-forma NOI of $442,651. The asking price is $5,200,000, representing a 7.27% cap rate. This property presents a rare opportunity to acquire a well-positioned, multi-tenant center with significant upside potential in a high-traffic tourist destination. The Golden Corral anchor tenant, a top performer in its region, contributes 21% of the total rent and features 10% rent increases every five years, while inline tenants have 2% annual rent increases.

Location Insight

City

Gurnee

County

Lake

State

Illinois

Longitude

-87.9387

Latitude

42.3799

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments