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31 W North Ave
Northlake, IL 60164
Take 5 Oil Change · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Long Term, Ground Lease with Annual Rental Increases
- Newly Constructed Building to Latest Specifications
- Excellent Local Elmhurst and Regional Access
- Guaranty from Experienced Multi-Unit Operator
- Highly Trafficked Retail Corridor w/ Excellent Visibility
- Near Chicago O’Hare International Airport & Public Transportation
EXECUTIVE SUMMARY
Northmarq, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale to qualified investors, the opportunity to purchase a ground lease in the Take 5 Oil Change located in Northlake, IL (“the Property”). The Property consists of a +/- 1,541 square foot freestanding retail building. The Property is an outparcel to Sam’s Club, Walmart, Ross Dress for Less, and Home Depot, strategically positioned along North Avenue with direct access to I-290 and I-294. Constructed in 2025, the Property features brand-new building systems, modern plumbing and bathrooms, and complete site work including a newly paved parking lot. Take 5 is operating under a brand new ground lease with 15.5 years of base lease term remaining and three (3), five (5)-year extension options. Additionally, the lease features 2.00% annual rent escalations and zero landlord responsibilities, making this a highly passive net lease investment opportunity.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
1,541 SF
Building Class
B
Year Built
1977
Price
$1,465,716 CAD
Price Per SF
$951.15 CAD
Cap Rate
6%
NOI
$87,943 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.15
Lot Size
0.24 AC
Frontage
56’ on W North Ave
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,235 CAD | |
| Land Assessment | $35,555 CAD | Total Assessment | $37,790 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$35,555 CAD
Improvements Assessment
$2,235 CAD
Total Assessment
$37,790 CAD
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