1048 S Milwaukee Ave - Service Station FOR SALE


$2,906,000 USD
949-942-6585
1048 S Milwaukee Ave, Wheeling, IL for Sale
$2,906,000 USD
Service Station - FOR SALE
1/9
null | 6.25% Cap Rate

1048 S Milwaukee Ave
Wheeling, IL 60090
Des Plaines/Arlington Hts Corridor


OVERVIEW

ParaSell, Inc. is pleased to present the opportunity to acquire a newly constructed Quick Run gas station / convenience store located in Wheeling, Illinois (the “Property”). The Property comprises ±3,678 SF on a 1.63 AC lot and includes 16 fueling positions and 2 diesel pumps. Positioned on a hard corner fronting US 45 (27,600 VPD), a major north-south US highway, the site sits adjacent to Chicago Executive Airport, the 4th busiest airport in Illinois, driving consistent vehicular traffic to the location. The Property is secured by a 100% Absolute NNN lease with no landlord responsibilities, offering investors the most passive form of commercial real estate ownership. The lease has over 15 years of term remaining alongside four, 5-year renewal options, providing long-term occupancy that is supported by 1.25% annual rent escalations, delivering consistent built-in rent growth throughout the term. Additionally, the lease is personally guaranteed by both operators, whose combined net worth exceeds $35M, reinforcing the investment’s secure profile.

FOR SALE DETAILS

PRICE

$2,906,000 USD

PRICE/SF

$788 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.88 AC

LAND SF

81,934 SF

ZONING

-

APN/PARCEL ID

03-13-200-024-0000,03-13-200-025-0000

ASK ABOUT THIS PROPERTY

Scott ReidParaSell, Inc.More Info
949-942-6585

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Scott ReidParaSell, Inc.More Info
949-942-6585

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.