385 North Ave Northlake, IL 60164

This exceptional investment opportunity presents the fee simple ownership of a 4,862 square foot Meineke Car Care center in Northlake, Illinois, a suburb within the Chicago MSA. The property boasts a brand-new 15-year absolute NNN lease with a franchisee tenant, ensuring minimal landlord responsibilities. The lease includes five 5-year renewal options and features 10% rent increases every five years, providing built-in inflation protection and significant NOI growth. Built in 1968 and renovated in 2022, the property sits on a 0.46-acre lot with six parking spaces and is zoned B-2 for retail and service businesses. Its prime location along West North Avenue offers high visibility and accessibility, benefiting from proximity to major commuter routes (State Highway 45, I-290, I-294) and the Bellwood Metra station. The property enjoys strong tenant synergy within a dense retail corridor, including nearby national retailers like Walmart, Sam's Club, and The Home Depot at the Northlake Commons (293,523 sq ft). A substantial residential population within a 5-mile radius, boasting an average household income of $99,687, provides a robust customer base. The property's current NOI is $121,500, resulting in a 7.25% cap rate, and the asking price is $1,676,000 ($344.71/sq ft). This is a truly passive, management-free investment opportunity with exceptional long-term growth potential.