325 E Lake Cook Rd
Palatine, IL 60074
Retail Property For Sale

Marcus & Millichap is pleased to present the new Starbucks development located in Palatine, Illinois. The property is comprised of 998 square feet of gross leasable area with a total lot size of 0.31 acres. Starbucks is strategically located along Lake Cook Road just off the southeast corner of Rand Road (IL-12) and Lake Cook Road, a major intersection with extremely high traffic counts that exceed 88,000 vehicles per day. In addition to its high level of exposure, the property also benefits from great access, as it is sits on the morning side of traffic with entrances from both Lake Cook and Rand Road. Starbucks Palatine is a single-tenant development with construction still underway. The store will be operating under a brand new 10-year net lease with the tenant reimbursing for common area maintenance, real estate taxes, insurance, and a portion of management/administrative fees. The lease includes four, five-year renewal options and strong 10 percent rent escalations occurring every five years. Starbucks Palatine is located on the popular Lake Cook Road retail corridor, with an abundance of highly complementary retail space. Within a half mile north of the property on Rand Road is a Whole Foods, and just a half mile further north are the two major power centers of the area, Shops at Kildeer and Deer Park Town Center. Shops at Kildeer consists of 171,339 square feet of gross leasable area with major national retailers and big-box stores that include Bed Bath & Beyond, Michaels, Old Navy, The Children’s Place, Famous Footwear, LOFT, Mattress Firm, Ulta Beauty, Chipotle, Potbelly and more. However, just across the street from Shops at Kildeer lies the massive 386,000-square foot Deer Park Town Center, housing a tenant-mix that includes high-profile nationals such as Apple, Cinemark Theatres, Barnes & Noble, Avalon Salon & Day Spa, Clarks, Vera Bradley, J. Crew, Crate and Barrel, Pottery Barn, Victoria’s Secret, Banana Republic, and over a dozen national restaurants. A stretch of additional retail, grocery and restaurant space, as well as a cluster of successful car dealerships is one-mile south of the subject property. Palatine is a northwest suburb of Chicago that sits just 30 miles northwest of the Chicago Loop and 14 miles from O’Hare International Airport. Palatine is the seventh largest community in Cook County, and the 18th largest in the state of Illinois. Quick access to the area’s main thoroughfares, including Interstate 90, Illinois Route 53, and U.S. Highways 12 and 14, allows convenient access to Palatine’s affluent neighbors such as Arlington Heights, Rolling Meadows, Wheeling, Buffalo Grove, Inverness, and Barrington. The subject property sits in a highly dense and affluent infill area of Palatine, with a population of 218,020 within a five-mile radius, generating an average household income of $127,846.