2780 Belvidere Rd Waukegan, IL 60085-6008
Property profile & analytics
2780 Belvidere Rd Waukegan, IL 60085-6008
- Turn key restaurants
- 2,642 SF
- 0.70 lot acres
Property ID
US28-1064566
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Taco Bell / Restaurant / Take-out & Catering
Property Details for 2780 Belvidere Rd
- Year built
- 2001
- Construction
- FRAME
- Lot size
- 0.70 lot acres
- Property size
- 2,642 SF
- Property type
- Turn key restaurants
- APN
- 08-30-200-026
- APU
- 830200026
Description
This exceptional investment opportunity presents a fee-simple Taco Bell property in Waukegan, IL (Chicago MSA), boasting a 2,600 square foot building on a 0.7-acre lot. The property, built in 2000 and renovated in 2018, features a single-tenant, absolute NNN lease with Taco Bell, a subsidiary of Flynn Restaurant Group, the nation's largest franchisee operator. The 20-year lease, commencing March 30, 2016, and expiring March 29, 2036, has approximately 11.4 years remaining, with four, five-year renewal options. The lease includes annual rent increases of 1.25 times the CPI increase (capped at 1.50%), offering inflation protection. The current annual net operating income (NOI) is $131,240, resulting in a 5.84% cap rate and a 6.4% rent-to-sales ratio. The property benefits from a high-traffic location on Belvidere Road, exceeding 25,000 vehicles per day, and is surrounded by various major retailers. The strong local economy, with a 5-mile radius population exceeding 153,000 residents and an average household income over $89,310, contributes to consistent sales growth. This is a passive investment opportunity with significant upside potential in a prime Chicago MSA location. The asking price is $2,248,000.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Waukegan
- County
- Lake
- State
- Illinois
- Longitude
- -87.8705
- Latitude
- 42.3499
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$23,476
$101,467
$147,807
$249,274
-
$304,431
$443,465
$747,896
