31 W North Ave - Retail FOR SALE


Melrose Park, IL 60164
$1,024,390 USD
201-919-6148
31 W North Ave, Melrose Park, IL for Sale
$1,024,390 USD
Retail - FOR SALE
1/3
null | 6.15% Cap Rate

31 W North Ave
Melrose Park, IL 60164


HIGHLIGHTS

  • Long Term,  Ground Lease with Annual Rental Increases
  • Guaranty from Experienced Multi-Unit Operator 
  • Newly Constructed Building to Latest Specifications 
  • Highly Trafficked Retail Corridor w/ Excellent Visibility
  • Excellent Local Elmhurst and Regional Access
  • Near Chicago O’Hare International Airport & Public Transportation

OVERVIEW

Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale to qualified investors, the opportunity to purchase a ground lease in the Take 5 Oil Change located in Northlake, IL (“the Property”). The Property consists of a +/- 1,541 square foot freestanding retail building. The Property is an outparcel to Sam’s Club, Walmart, Ross Dress for Less, and Home Depot, strategically positioned along North Avenue with direct access to I-290 and I-294. Constructed in 2025, the Property features brand-new building systems, modern plumbing and bathrooms, and complete site work including a newly paved parking lot. Take 5 is operating under a brand new ground lease with 15.5 years of base lease term remaining and three (3), five (5)-year extension options. Additionally, the lease features 2.00% annual rent escalations and zero landlord responsibilities, making this a highly passive net lease investment opportunity.

FOR SALE DETAILS

PRICE

$1,024,390 USD

PRICE/SF

$665 USD /SF

CAP RATE

6.15%

% LEASED

-

TENANCY

Single

STATUS

Under Construction

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY NAME

Take 5 Oil Change

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2026

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

-

APN/PARCEL ID

15-06-206-006-0000

ASK ABOUT THIS PROPERTY

Christian TremblayNorthmarqMore Info
201-919-6148

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Christian TremblayNorthmarqMore Info
201-919-6148

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