379 River RdDes Plaines, IL 60016

Property Details for 379 River Rd

Year built

2003

Lot size

0.48 AC

Property type

Retail properties

Property subtype

Banks

APN

09-16-300-076

APU

916300076

Description

This exceptional 3,393 square foot retail property, built in 2003, is situated on a highly visible 0.39-acre lot at 379 S. River Rd in Des Plaines, Illinois (60016), Cook County. Currently vacant, this single-tenant building offers a unique investment opportunity in a prime location. The property's permitted commercial zoning allows for a variety of uses, previously operating as a bank, convenience store, and pharmacy. Its strategic location on a signalized corner boasts exceptional visibility and accessibility, with a daily traffic volume exceeding 21,140 vehicles on S. River Rd. The property benefits from its proximity to major transportation arteries, including O'Hare International Airport and I-294, ensuring convenient access for customers and employees. Furthermore, the surrounding area is anchored by established national brands such as Popeyes, McDonald's, and Dunkin' Donuts, creating a strong retail environment and high foot traffic. The asking price is $899,400, translating to $265.08 per square foot. This presents a compelling opportunity for investors seeking a well-located, versatile retail space with significant potential for growth and return. The property's history as a bank, convenience store, and pharmacy demonstrates its adaptability to various retail concepts.

• CAP approach

  CAP return

  Valuation

  6%

  $7,017,313

  6.5%

  $6,477,520

  7%

  $6,014,840

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,934,476

  Geo Method

  $6,806,834

• Alternative Use

  Use

  Valuation

  Residential

  $5,464,030

  Hospitality

  $5,005,022

  Educational

  $4,164,120

  Medical

  $4,307,330

  Retail

  $6,477,520

Location Insight

City

Des Plaines

County

Cook

State

Illinois

Latitude

42.0467

Longitude

-87.8851

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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