1450 Park AveHighland Park, IL 60035

Property Details for 1450 Park Ave

Year built

1990

Construction

BRICK

Lot size

0.31 AC

Property size (Sq ft)

4,239 SF

Property type

Retail properties

Property subtype

Retail space

APN

16-22-311-001

APU

1622311001

Description

This exceptional 750-square-foot carryout restaurant is located in a bustling Highland Park, Illinois strip center at 1450 Park Ave W, zip code 60035. Situated on a prominent corner lot at the intersection of Park Avenue and Route 41, this property benefits from high visibility and significant foot and vehicular traffic. The building enjoys a B-3 commercial highway zoning designation, providing flexibility for a variety of uses. The location is further enhanced by its proximity to established national brands, including Dunkin' Donuts, CVS, Chase Bank, and Starbucks, ensuring a steady stream of potential customers. The property is fully occupied, representing a stable investment opportunity. The entire building encompasses 7,500 square feet, with this particular unit offering a single-tenant occupancy. Detailed demographic information for the area is readily available and showcases a strong consumer base. This prime location in Lake County, Illinois, presents a rare chance to acquire a thriving restaurant business in a high-traffic area with excellent visibility and established neighboring businesses. The property's strategic placement and strong surrounding commercial presence make it an attractive investment for both established and emerging food service businesses. This is a turnkey opportunity for immediate income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,125,141

  6.5%

  $1,038,591

  7%

  $964,406

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,084,499

  Geo Method

  $1,391,367

• Alternative Use

  Use

  Valuation

  Residential

  $876,091

  Hospitality

  $802,494

  Educational

  $667,666

  Medical

  $690,628

  Retail

  $1,038,591

Location Insight

City

Highland Park

County

Lake

State

Illinois

Latitude

42.1886

Longitude

-87.8263

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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