1220 Meadow RdNorthbrook, IL 60062

For Sale
$2,950,000

Downtown Northbrook, High NOI, 8.01% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
93
This three-story, 16,659 square foot medical office building in downtown Northbrook, IL, presents a compelling investment opportunity. Boasting an 8.01% cap rate and a strong NOI of $236,309, the property is anchored by five established dental and orthodontic practices, a Huntington Bank branch, and Franz Jewelers. The building, constructed in 1979, sits on a 0.84-acre lot and offers ample parking. A 1,150 square foot move-in-ready medical suite with sinks and abundant natural light is currently available. Conveniently located near the Northbrook Metra station, Village Hall, library, and numerous restaurants and retailers, this property benefits from a prime downtown location and high visibility. The building also includes a lower-level conferencing room and basement storage. The current occupancy is 94%, with potential for 100% occupancy. This property offers a blend of stable income and significant upside potential in a highly desirable location. The asking price is $2,950,000.

Highlights

  • Strong rent roll anchored by five dental/orthodontic practices, Huntington Bank, and Franz Jewelers.
  • Prime Northbrook, IL location near Metra station, Village Hall, library, and numerous amenities.
  • 1,150 SF move-in ready medical suite with sinks and abundant natural light.
  • Financing available through Marcus & Millichap Capital Corporation.
  • Lower-level conferencing room.
  • Ample parking and basement storage.

Property Details for 1220 Meadow Rd

Property type
Other retail properties, Other office properties
Square Feet
16,659 SF
Year Built
1979
Stories
3
Lot Size (sq. ft)
36,590 SF

Location Insight

City
Northbrook
County
Cook
State
Illinois
Latitude
42.1305059
Longitude
-87.8286871
1220 Meadow Rd, Northbrook, Illinois

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1220 Meadow Rd
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message