Property Details for 5755 Northwest Hwy

Year built

2008

Lot size

31.00 lot acres

Property size

6,250 SF

Property type

Retail properties & Spaces

Description

This exceptional retail property, located at 5755 Northwest Highway in Crystal Lake, Illinois, presents a compelling investment opportunity. The 6,250-square-foot building, constructed in 2008, sits on a substantial 31-acre lot and boasts 138 parking spaces. Currently operating under an Absolute NNN lease with a remaining term of 5.7 years, expiring August 1, 2030, the property offers significant stability and predictable income. The lease includes four 5-year renewal options, providing long-term security for the investor. The property enjoys a strong location with an average daily traffic count of 30,800 vehicles on Northwest Highway. The property's current NOI is $302,500, resulting in a 6.65% cap rate and a price per square foot of $728. The asking price is $4,550,000. Furthermore, the property benefits from its proximity to a significant mixed-use development project, currently underway directly adjacent to the site. This project, encompassing 271 residential units, an art park, a hotel, a grocery store, and additional shops, is expected to further enhance the property's value and desirability. The location is approximately 37 miles northwest of downtown Chicago, offering convenient access to a large consumer base. This is a rare opportunity to acquire a high-performing retail asset with substantial long-term growth potential.

Location Insight

City

Crystal Lake

County

McHenry

State

Illinois

Longitude

-88.3103

Latitude

42.2251