7600 Barrington Rd Hanover Park, IL 60133-2213
- Retail space
- 0.76 lot acres
Current Use by Public Records
- Sweet Basil Cafe of Hanover Park / Restaurant
Property Details for 7600 Barrington Rd
- Year built
- 1988
- Lot size
- 0.76 lot acres
- Property type
- Retail space
- APN
- 06-25-401-054
- APU
- 625401054
Description
This exceptional investment opportunity presents a single-tenant, net-leased Sweet Basil Café in Hanover Park, IL. Boasting an 8% cap rate and a strong NOI of $129,485, this 5,150 square-foot restaurant sits on a 0.76-acre lot within the grocery-anchored Westview Center shopping mall. The 11-year lease, commencing November 9, 2024, and expiring November 30, 2035, includes two five-year renewal options with built-in rent escalations. The property benefits from its high-traffic location on Barrington Road (31,800 vehicles per day), near major thoroughfares Irving Park Road (IL 19) and IL 390. Situated in a densely populated area with a high average household income ($118,320 within five miles), the property enjoys proximity to numerous national retailers including Tony's Fresh Market, DD's Discounts, Menards, Walmart, and more. Built in 1990, the building features a roof warranty extending to 2042, minimizing landlord responsibilities. This prime location, coupled with a long-term lease and strong tenant, makes this a compelling investment opportunity within the Chicago MSA. The property's location within a thriving retail corridor, combined with the established brand recognition of Sweet Basil Café, ensures a stable and potentially appreciating asset. The lease terms provide for predictable income growth, making this a low-risk, high-reward investment. Detailed lease terms are available upon request.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,515,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $1,290,000
- 6.5%
- $1,290,000
- 7%
- $1,240,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $1,405,000
- Geo Method
- $1,435,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $1,170,000
- Retail
- $1,285,000
- Mixed-Use
- $1,480,000
- Hospitality
- $1,570,000
- Educational
- $1,475,000
- Residential Income
- $1,480,000
- Energy
- $1,265,000
- Income-Based Land
- $1,305,000
- Food Service
- $1,425,000
Location Insight
- Map
- Local Demand
- City
- Hanover Park
- County
- Cook
- State
- Illinois
- Longitude
- -88.1452
- Latitude
- 42.0091
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
