845 Madison St
Oak Park, IL 60302
Retail Property For Sale
![845 Madison St, Oak Park, IL for sale - Building Photo - Image 1 of 4](https://images1.loopnet.com/i2/m9MyTpX5_43a8xVkG0XJKRR5aXdZiBP4-6AQDgpXXO4/110/845-Madison-St-Oak-Park-IL-Building-Photo-1-Large.png)
![845 Madison St, Oak Park, IL for sale - Building Photo - Image 2 of 4](https://images1.loopnet.com/i2/GUMeJXlS9OJdm2oK-Fv5XRoqX7_NjFec9FkDkACVb3k/110/845-Madison-St-Oak-Park-IL-Building-Photo-2-Large.jpg)
INVESTMENT HIGHLIGHTS
- Located in main retail corridor with numerous national brands
- Property is proximate to national tenants Jewel, Walgreens, Wendy’s, Rosati’s and more
- Well know national brand
- Populated residential area with 294,600+ within 3 mile radius
- Brand new lease term
- Absolute NNN lease
EXECUTIVE SUMMARY
Colliers Net Lease Investment Group is pleased to present to qualified investors the opportunity to acquire a 100% fee interest in a remodeled Meinke location in the Chicago MSA. This is a chance to acquire a recession proof single- tenant net lease with a good operating history and a growing franchisee. Meineke is one of the leading brands in auto-maintenance and repair and is now under the Driven Brands umbrella.
This 10,432-square-foot property is located on Madison St. just North of I-290 expressway. The property sits on a commercial retail corridor surrounded by industrial parks and residential.
Madison Street brings 18,890+ people by the property daily. There are over 40,000+ people within 1 mile and 294,600+ people within 3 miles of the store.
The single-tenant building is leased for a 15 year term and is offered at $1,813,333 corresponding to a 7.50% cap rate.
This 10,432-square-foot property is located on Madison St. just North of I-290 expressway. The property sits on a commercial retail corridor surrounded by industrial parks and residential.
Madison Street brings 18,890+ people by the property daily. There are over 40,000+ people within 1 mile and 294,600+ people within 3 miles of the store.
The single-tenant building is leased for a 15 year term and is offered at $1,813,333 corresponding to a 7.50% cap rate.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Auto Repair
Building Size
10,432 SF
Building Class
B
Year Built
1927
Price
$1,813,333
Price Per SF
$174
Cap Rate
7.50%
NOI
$136,000
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
1.00
Lot Size
0.24 AC
Zoning
MS - Madison Street
Frontage
63 FT on W Madison St
AMENITIES
- Bus Line
- Corner Lot
- Mezzanine
PROPERTY TAXES
Parcel Number | 16-18-106-012-0000 | Improvements Assessment | $28,000 |
Land Assessment | $83,456 | Total Assessment | $111,456 |