742 Sheridan RdHighwood, IL 60040

Property Details for 742 Sheridan Rd

Year built

2001

Construction

BRICK

Lot size

0.42 AC

Property size (Sq ft)

7,281 SF

Property type

Retail properties

Property subtype

Retail space

APN

16-10-402-038

APU

1610402038

Description

This exceptional 6,400 square foot free-standing retail property presents a compelling investment opportunity in the thriving Highwood, Illinois market. Located at 742 Sheridan Road, this property boasts excellent visibility and frontage on a major thoroughfare. Its strategic location across from the Fort Sheridan Development Project ensures continued growth and high traffic volume. The building comprises five individual retail storefronts, each currently occupied by long-term tenants, providing immediate and consistent cash flow. Ample on-site parking caters to both tenants and customers, enhancing the property's appeal. The property's proximity to the MetraRail train station further enhances its accessibility and desirability. Highwood itself is a dynamic and growing community in Lake County, situated in the northern suburbs of Chicago. The area is known for its robust business community, a lively restaurant and bar scene, and a calendar filled with community festivals and events. This combination of factors – prime location, strong tenant occupancy, convenient amenities, and a thriving community – makes this a truly exceptional investment opportunity in a rapidly developing area. The property offers significant potential for long-term appreciation and stable income generation.

• CAP approach

  CAP return

  Valuation

  6%

  $1,932,566

  6.5%

  $1,783,907

  7%

  $1,656,485

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,862,760

  Geo Method

  $2,389,843

• Alternative Use

  Use

  Valuation

  Residential

  $1,504,793

  Hospitality

  $1,378,382

  Educational

  $1,146,798

  Medical

  $1,186,238

  Retail

  $1,783,907

Location Insight

City

Highwood

County

Lake

State

Illinois

Latitude

42.2118

Longitude

-87.8166

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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