850 Tower DrLake Villa, IL 60046

Property Details for 850 Tower Dr

Year built

2006

Construction

BRICK

Lot size

1.76 AC

Property size (Sq ft)

18,201 SF

Property type

Retail properties

Property subtype

Retail space

APN

02-28-201-180

APU

228201180

Description

This exceptional investment opportunity presents a fully occupied, 100% leased shopping center located at 850 Tower Drive, Lake Villa, Illinois, 60046. The property, built in 2006, boasts a total of 1 square foot of retail space and sits on a 1.75-acre lot zoned for commercial use. Currently operating under a triple-net (NNN) lease agreement with multiple tenants, the center generates a substantial net operating income (NOI) of $208,471, resulting in an attractive 7.06% capitalization rate. The asking price for this prime retail asset is $4,200,000. Strategically positioned on the southwest corner of Grass Lake Road and Deep Lake Road, this shopping center benefits from high visibility and convenient access for customers. The property's strong tenancy and consistent cash flow make it an ideal addition to any investment portfolio seeking stable returns in a thriving commercial market. This is a rare opportunity to acquire a well-established, high-performing retail property in a desirable location. The property's 2006 construction date suggests a relatively newer building with potential for long-term value appreciation. The 100% occupancy rate minimizes vacancy risk and ensures a steady stream of income. The property's commercial zoning allows for flexibility and potential future development opportunities.

• CAP approach

  CAP return

  Valuation

  6%

  $4,831,018

  6.5%

  $4,459,401

  7%

  $4,140,872

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,656,515

  Geo Method

  $5,974,114

• Alternative Use

  Use

  Valuation

  Residential

  $3,761,672

  Hospitality

  $3,445,671

  Educational

  $2,866,758

  Medical

  $2,965,350

  Retail

  $4,459,401

Location Insight

City

Lake Villa

County

Lake

State

Illinois

Latitude

42.4409

Longitude

-88.0644

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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