1604 Il-50 Bourbonnais, IL 60914
- Retail properties
- 8,479 SF
- 2.18 lot acres
Current Use by Public Records
- Retail properties
Property Details for 1604 Il-50
- Year built
- 1991
- Lot size
- 2.18 lot acres
- Property size
- 8,479 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional 8,479-square-foot restaurant property, located at 1604 IL-50 in Bourbonnais, Illinois (zip code 60914), presents a compelling investment opportunity. Currently occupied by a Red Lobster restaurant, the property boasts a prominent location in a high-traffic area, situated at a signalized intersection and directly in front of Northfield Square Mall. The 2.18-acre lot offers significant potential for redevelopment, accommodating one or two users. Built in 1991 and renovated in 2008, the single-story building sits on a B-3 zoned lot. The asking price is $2,850,000, translating to $336.12 per square foot. A Red Lobster lease restructure is currently underway, and a landlord termination agreement is in place, providing flexibility for future development. The property benefits from excellent retail synergy, surrounded by national retailers such as Target, Starbucks, Best Buy, and Panera Bread. This prime location along a major north/south corridor ensures high visibility and accessibility. The property is offered as a NNN lease. This is a rare chance to acquire a substantial retail property with significant upside potential in a thriving retail environment.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bourbonnais
- County
- Kankakee
- State
- Illinois
- Longitude
- -87.8512
- Latitude
- 41.1741
