7535 Harlem Ave Niles, IL 60714-3743

Property Details for 7535 Harlem Ave

Year built

1988

Lot size

0.08 lot acres

Property type

Retail space

APN

10-30-300-013

APU

1030300013

Description

This fee-simple Taco Bell property in Niles, IL (Chicago MSA), offers a compelling investment opportunity. The 2,409 square foot restaurant sits on a 0.4-acre lot and boasts a strong 5.50% cap rate with a current NOI of $149,009. Built in 1988, the property benefits from a 10-year remaining lease term (with four, five-year options) and 10% rent bumps every five years, providing a hedge against inflation. The absolute NNN lease structure ensures a passive investment, with the tenant responsible for all taxes, insurance, CAM, and maintenance. The tenant, a franchisee of Ampler Restaurant Group (a large, experienced operator of over 475 units), is financially strong, further enhancing the investment's security. The location is exceptional, situated on N Harlem Ave with combined traffic counts exceeding 40,000 vehicles per day, offering high visibility and accessibility. The area features a high daytime employment count (over 244,000 within a 5-mile radius) and a large consumer spending base exceeding $1.6 billion annually on food and beverage. The affluent demographics (average household income over $110,000 within a 5-mile radius) and proximity to other national retailers and a significant industrial base contribute to the property's long-term value. The asking price is $2,709,255, representing a price per square foot of $1,124.64. This is a rare opportunity to acquire a high-performing, passively managed asset in a prime location within the third largest MSA in the country.

Location Insight

City

Niles

County

Cook

State

Illinois

Longitude

-87.8062

Latitude

42.0183

CBSA code

16980

CBSA name

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

Property Tax & Assessments