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1048 S Milwaukee Ave
Wheeling, IL 60090
Retail Property For Sale
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Service Station
Building Size
3,686 SF
Building Class
B
Year Built
2021
Price
$2,906,000
Price Per SF
$788.39
Cap Rate
6.25%
NOI
$181,600
Tenancy
Single
Building Height
1 Story
Building FAR
0.04
Lot Size
1.88 AC
Frontage
Amenities
- Signage
- Air Conditioning
Property Taxes
| Parcel Numbers | Improvements Assessment | $782,252 | |
| Land Assessment | $233,414 | Total Assessment | $1,015,666 |
Property Taxes
Parcel Numbers
Land Assessment
$233,414
Improvements Assessment
$782,252
Total Assessment
$1,015,666
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