11 Harlem Ave Oak Park, IL 60302
- Retail properties
- 3,500 SF
- 0.88 lot acres
Current Use by Public Records
- Wendy's / Hamburger Restaurant / Restaurant
Property Details for 11 Harlem Ave
- Year built
- 1985
- Lot size
- 0.88 lot acres
- Property size
- 3,500 SF
- Property type
- Retail properties
Description
This exceptional investment opportunity presents a 3,500 square foot Wendy's restaurant on a 0.88-acre lot in Oak Park, Illinois. Located at the highly visible corner of Harlem Avenue and Madison Street, this property boasts a strong location with 34,800 vehicles per day on Harlem Avenue and 13,500 vehicles per day on Madison Street. The property benefits from a net lease with a corporate guarantee from Wendy's, minimizing landlord responsibilities. The lease, in place since 1985, has a remaining term of 6.1 years, expiring December 31, 2030, with two five-year renewal options extending to 2040. The building, constructed in 1985, sits within the MS zoning district, offering significant redevelopment potential. The property includes 46 parking spaces and enjoys 100% occupancy. The asking price is $3,450,000, translating to $985.71 per square foot. This is a rare opportunity to acquire a stable, long-term investment with a nationally recognized tenant and significant upside potential. The ground lease structure eliminates landlord responsibilities, making this an attractive, low-maintenance investment. The property's prime location and high traffic counts ensure continued strong performance.
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
- Oak Park
- County
- Cook
- State
- Illinois
- Longitude
- -87.8043
- Latitude
- 41.88
