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720 E Rand Road Mount Prospect, IL 60056 Commercial - Retail New

New - 23 Hours Ago
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Description

**BANK PRE-APPROVED SHORT SALE-AN OUTSTANDING OPPORTUNITY TO ACQUIRE A TURNKEY RESTAURANT PROPERTY AT AN EXCEPTIONAL VALUE!** Don't miss what may be one of the best commercial real estate opportunities of the year! This freestanding, 2,533-square-foot masonry restaurant sits on a 23,391-square-foot site in Mount Prospect's highly active Rand Road retail and fast-food corridor. The property offers existing drive-thru capability with a curb cut on Rand Road, approximately 25 parking spaces, excellent visibility, and exposure to approximately 17,600 vehicles per day. Located just south of the signalized intersection of Rand Road and Central Road-and directly across from Menards. This property is surrounded by major retailers and restaurants, including Walmart, Aldi, Subway, Bowlero, Texas Roadhouse, Buona Beef, and Dunkin'. With B-5 zoning, this is an excellent opportunity for restaurant operators, owner-users, investors, and entrepreneurs seeking a high-visibility suburban location. The building is fully built out and ready for operation, featuring a complete commercial kitchen, black iron exhaust hoods, fire-suppression systems, a walk-in cooler, and included furniture, fixtures, and equipment. Additional improvements include a modern facade, updated windows, upgraded rooftop heating and HVAC equipment, tuckpointing, and 200-amp electrical service. The property also features a second floor, offering the potential-subject to municipal approval-to expand upward or create an outdoor second-floor dining area. Convenient access to area highways and public transportation further strengthens this exceptional location. **Absolute turnkey condition** Bring your concept and take advantage of this rare short-sale opportunity! Please do not disturb the current operator. Contact the listing broker to schedule a private showing.

Property Highlights

Property Type: Commercial - Retail
Building Description: 2.0 stories
Year Built: 1994

General Information

County: Cook
Listed By:
RE/MAX At Home 847-255-1000
MRED MLS
$1,350,000
Est. $9,011/mo
New to the Market New
SQUARE FEET2,533 MLS#12705773
STATUSNew PROPERTY TYPECommercial - Retail

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720 E Rand Road , Mount Prospect, IL 60056.

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Loan Type FHA 30 Year FixedVA 30 year fixed30 yr Jumbo
Purchase Price $1,350,000$1,350,000$1,350,000
Down Payment $47,250$0$270,000
Monthly Mortgage Amount $8,162$8,491$6,738
Taxes $1879$1879$1879
Insurance $100$100$100
HOA/Dues/Fees $0$0$0
Monthly Mortage Insurance $810$0$0
Monthly Estimated Total $11,245$10,764$9,011

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