2566 Skokie Vly Rd Highland Park, IL 60035-1739
- Turn key restaurants
- 3,002 SF
- 0.76 lot acres
Current Use by Public Records
- Taco Bell / Lunch Restaurant / Takeout Restaurant
Property Details for 2566 Skokie Vly Rd
- Year built
- 1979
- Construction
- BRICK
- Lot size
- 0.76 lot acres
- Property size
- 3,002 SF
- Property type
- Turn key restaurants
- APN
- 16-16-408-010
- APU
- 1616408010
Description
This fee-simple Taco Bell property in Highland Park, IL, offers a compelling net lease investment opportunity. The 3,002 square foot restaurant sits on a 0.76-acre lot and boasts a strong 5.40% cap rate with a current NOI of $97,663. The absolute NNN lease with the franchisee tenant, AG Bells II, LLC, has approximately 12.1 years remaining, including four 5-year renewal options. Rent increases by 10% every five years. The property benefits from its high-visibility location on Skokie Valley Road, a major thoroughfare with over 55,000 vehicles per day, and proximity to Half Day Road (20,000+ VPD). This prime location is part of a high-profile retail corridor with numerous national brands. The surrounding area demonstrates strong demographics, with an affluent population exceeding 105,000 residents within a 5-mile radius and an average household income over $173,000. Annual food and beverage spending within this radius surpasses $440 million. The property's location within the Chicago MSA, the third largest in the country, further enhances its investment potential. Built in 1979, this Taco Bell represents a stable, long-term investment with significant upside potential due to the brand's popularity and the favorable lease terms. The asking price is $1,808,593, translating to $602.46 per square foot.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Highland Park
- County
- Lake
- State
- Illinois
- Longitude
- -87.8328
- Latitude
- 42.199
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
