Property profile

742 Sheridan Rd Highwood, IL 60040

FOR SALE
Retail space
Property ID
US28-1307290
7,281 SF 0.42 ac lot Built 2001
Entity Owned 8-yr Hold Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 2001
Construction BRICK
Total area 7,281 SF
Lot 0.42 ac (18,130 SF)
APN 16-10-402-038
UPID US28-1307290

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Cafe & Coffee Shop
  • Nail Salon
  • Hair Salon
  • (Bike/Boat/Book/etc) Store Hardware & Home Improvement
  • Hair Salon

Location

742 Sheridan Rd Highwood, IL 60040
Highwood metro Census 865200 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$791k
Blend (final) Blend
$370k

Owner & transaction history

since 2017
2 recorded transactions
2017
$640,000
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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