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Investment/Owner-User Opportunity 1910-1918 N Rand Rd 5,600 SF 100% Leased Retail Building Palatine, IL 60074 $1,149,000 ($205.18/SF)
Investment Highlights
- Upcoming energetic area
- Highly trafficked Rand Road
- Income producing property
- Excellent visibility
Executive Summary
Exceptional investment and owner-user opportunity featuring a fully renovated three-unit retail/restaurant building in one of the area's most vibrant and rapidly evolving commercial districts. The property is home to established tenants Kolatek Baking Company, Ami Manera Mexican Cuisine, and Slaw Burger, while also benefiting from additional income generated by an on-site billboard lease.
Kolatek Baking Company has announced plans to vacate, creating an opportunity for an owner-user to occupy approximately 3,400 SF of turnkey restaurant space. The existing restaurant infrastructure offers a seamless transition for a new operator, with equipment available separately. Alternatively, the seller is open to discussing a short-term leaseback arrangement, providing flexibility for investors seeking continued occupancy and cash flow.
Over the past five years, the entire property has undergone extensive renovations and improvements, including upgrades to all three tenant spaces,
roof improvements, new outdoor seating areas, decorative lighting, planters, updated HVAC systems, water heaters, security cameras, and alarm systems. The result is a modern, energetic destination that has become known locally as "The Place to Be."
Positioned along highly trafficked Rand Road, the property benefits from excellent visibility and exposure. The surrounding area continues to experience significant public and private investment, with the Village actively revitalizing the district through an approved TIF Grant Program that provides funding assistance for interior and façade improvements. The building's eastern-facing orientation offers pleasant morning sunlight and comfortable afternoon shade for outdoor dining and customer enjoyment.
Kolatek Baking Company has announced plans to vacate, creating an opportunity for an owner-user to occupy approximately 3,400 SF of turnkey restaurant space. The existing restaurant infrastructure offers a seamless transition for a new operator, with equipment available separately. Alternatively, the seller is open to discussing a short-term leaseback arrangement, providing flexibility for investors seeking continued occupancy and cash flow.
Over the past five years, the entire property has undergone extensive renovations and improvements, including upgrades to all three tenant spaces,
roof improvements, new outdoor seating areas, decorative lighting, planters, updated HVAC systems, water heaters, security cameras, and alarm systems. The result is a modern, energetic destination that has become known locally as "The Place to Be."
Positioned along highly trafficked Rand Road, the property benefits from excellent visibility and exposure. The surrounding area continues to experience significant public and private investment, with the Village actively revitalizing the district through an approved TIF Grant Program that provides funding assistance for interior and façade improvements. The building's eastern-facing orientation offers pleasant morning sunlight and comfortable afternoon shade for outdoor dining and customer enjoyment.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,600 SF
Building Class
C
Year Built
1950
Price
$1,149,000
Price Per SF
$205.18
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.27
Lot Size
0.47 AC
Zoning
B-2 - General Business District
Parking
12 Spaces (2.14 Spaces per 1,000 SF Leased)
Frontage
88’ on Rand Rd
Amenities
- Signage
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
- Ami Manera Mexican Cuisine
- Accommodation and Food Services
- 1,100 SF
- -
- -
- Kolatek's Bakery
- Accommodation and Food Services
- 3,400 SF
- -
- -
- Outfront Media Billboard
- Rental and Leasing Services
- -
- -
- -
- Slaw Burger
- Accommodation and Food Services
- 1,100 SF
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
| Ami Manera Mexican Cuisine | Accommodation and Food Services | 1,100 SF | - | - | ||
| Kolatek's Bakery | Accommodation and Food Services | 3,400 SF | - | - | ||
| Outfront Media Billboard | Rental and Leasing Services | - | - | - | ||
| Slaw Burger | Accommodation and Food Services | 1,100 SF | - | - |
Fairly walkable
50/100
Exceptionally drivable
100/100
Minimal public transit
10/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 02-02-407-009-0000 | Improvements Assessment | $129,250 |
| Land Assessment | $65,000 | Total Assessment | $194,250 |
Property Taxes
Parcel Number
02-02-407-009-0000
Land Assessment
$65,000
Improvements Assessment
$129,250
Total Assessment
$194,250
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Investment/Owner-User Opportunity | 1910-1918 N Rand Rd