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    Property profile & analytics
    FOR SALE
    Retail space

    742 Sheridan Rd, Highwood, IL 60040

    7,281 SF 0.42 ac lot Built 2001
    Entity Owned 8-yr Hold Free & Clear
    Property ID
    US28-1307290
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Mocha Cafe Cafe & Coffee Shop
    • Max Studio Nails Nail Salon
    • North Shore Salon Suites Hair Salon
    • Lake Forest Lamp & Shade Co (Bike/Boat/Book/etc) Store Hardware & Home Improvement
    • Baroque Salon Hair Salon
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    $791k
    Blend (final) Blend
    $730k
    Owner & transaction history
    Midwest Capital Investors LLC · 8 yrs held
    Midwest Capital Investors LLC
    since 2017
    2 recorded transactions
    2017
    $640,000
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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