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819 Ridge Rd 2,000 SF Retail Building Wilmette, IL 60091 $850,000 ($425/SF) 6.90% Cap Rate

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INVESTMENT HIGHLIGHTS

Heavily Trafficked Ridge Road
Successful Dry Cleaner
Recent NFR letter

Double Lot In Wilmette
5 year lease with annual increases
Drive through

EXECUTIVE SUMMARY

Prime free-standing property in Wilmette IL. The current tenant is month to month but is willing to sign a 5 year lease prior to closing with a corporate guarantee from Lapels corporate. Tenant is a Lapels dry cleaner’s franchisee. The lapels brand is operated at over 500 locations globally. Excellent investment opportunity or owner user opportunity. Property also includes a very large parking lot. The owner has leased out 10 parking spaces to neighboring business.
No Landlord responsibilities!

819 Ridge.xlsx - Sheet1 (2)

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

2,000 SF

Building Class

Year Built

1941

Price

$850,000

Price Per SF

$425

Cap Rate

6.90%

NOI

$58,650

Tenancy

Single

Building Height

1 Story

Building FAR

0.19

Lot Size

0.25 AC

Zoning

NR - General business

MAJOR TENANTS

Services
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Lapels Dry Cleaning was founded in 2000 to become the 1st Environmentally Friendly Dry Cleaning franchise available. At the time being environmentally friendly was just gaining traction but Lapels saw the Future of Dry Cleaning early on and since has not only been the leader in this space as they continue to define The Future of this great industry.