9870 Milwaukee Ave Glenview, IL 60025

Property Details for 9870 Milwaukee Ave

Property type

Retail space

APN

09-11-300-078

APU

911300078

Description

This exceptional investment opportunity presents a fee-simple ownership of a thriving Taco Bell restaurant located at 9870 N Milwaukee Ave, Des Plaines, IL 60016. The property boasts a 2,500 square foot building on a 1.2-acre lot, constructed in 2009. The current absolute NNN lease with a franchisee tenant, Taco Bell, has a remaining term of approximately 9.7 years, expiring August 3, 2034, with four 5-year renewal options. The lease features 10% rent increases every five years, providing a built-in hedge against inflation. The property generates a substantial net operating income (NOI) of $132,169, resulting in a compelling 5.50% cap rate. The asking price is $2,403,073, translating to $961.23 per square foot. This location benefits from high visibility on N Milwaukee Ave, a major thoroughfare with traffic exceeding 36,000 vehicles per day. The property is situated near a major $440 million redevelopment project at Golf Mill Shopping Center, further enhancing its long-term value. The surrounding area demonstrates strong demographics, with a high average household income exceeding $125,000 within a 5-mile radius and over 217,000 daytime employees. Annual food and beverage spending within this radius surpasses $1.2 billion, indicating a robust local economy. The lease is guaranteed by AG Bells II, LLC, a large regional operator with a 55-unit guarantee. This is a passive investment opportunity with a proven track record and significant upside potential in a prime location within the third-largest metropolitan area in the country.