7600 Barrington RdHanover Park, IL 60133

For Sale
$1,618,563

8% Cap Rate, 11-Year Lease, Strong NOI

Overview

Added:
Dec 11, 2024
Days on market:
94
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.

Highlights

  • $1,618,563 asking price for a 5,150 SF Sweet Basil Café net-leased retail property in a high-traffic location.
  • New 11-year lease with two 5-year options and rental escalations.
  • 8.00% cap rate with a $129,485 NOI.
  • Located in a grocery-anchored outparcel in Hanover Park, IL, within the top-3 US population market of Chicago MSA.
  • High visibility on Barrington Road (31,800 VPD), near major thoroughfares and other national retailers including Tony's Fresh Market, DD's Discounts, Menards, and Walmart.
  • Strong demographics with nearly 260,000 people and a $118,320 average household income within a five-mile radius.

Property Details for 7600 Barrington Rd

Property type
Other retail properties, Restaurants
Square Feet
5,150 SF
Year Built
1990
Lot Size (sq. ft)
33,106 SF

Location Insight

City
Hanover Park
County
Cook
State
Illinois
Latitude
42.0090339
Longitude
-88.1452771
7600 Barrington Rd, Hanover Park, Illinois

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7600 Barrington Rd
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