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Property Description
Rare opportunity to acquire a highly visible, turnkey freestanding restaurant building with existing drive-thru along the heavily trafficked Rand Road corridor in Mount Prospect. Drive-thru properties in this submarket are extremely limited, making this an ideal opportunity for QSR, coffee, breakfast, or fast-casual operators looking for immediate market entry and long-term upside. This 2,533 SF building sits on a 23,391 SF site and features a fully built-out commercial kitchen, including black iron hoods, fire suppression system, walk-in cooler, and all FF&E included-allowing for a seamless transition and significantly reduced startup costs. The property has been well maintained with a modernized facade, updated windows, upgraded rooftop HVAC, 200-amp electrical service, and recent tuckpointing. Positioned just south of the intersection of Rand Rd & Central Rd, the site benefits from exceptional visibility, strong signage potential, and convenient access, including an existing curb cut and drive-thru infrastructure. With over 17,000 vehicles per day, this location offers consistent exposure in a very active retail corridor. Surrounded by dense residential neighborhoods and major national retailers including Menards, Walmart, Aldi, Dunkin, Buona Beef, and Texas Roadhouse, the property is ideally situated to capture steady consumer demand. The 25-car parking lot (side and rear) supports high-volume operations, while the B-5 zoning allows for a variety of retail and restaurant uses. Additional upside includes a second-floor area with potential for expansion or outdoor dining, creating added value for owner-users or investors. This is a true plug-and-play opportunity in a proven retail corridor-perfect for operators looking to scale or investors seeking a high-demand asset with strong fundamentals.
Full Property Details
Full Property Details for 720 E Rand Rd
General
- Price: $1,599,000
- Taxes: $43,811 (2024)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12607080
- Updated: 4/1/2026
- Added to Site: 1 day(s) ago
Interior
- Interior Features: Heavy Floor Load, Public Restroom(s), Storage Inside
- Flooring: Concrete, Tile, Varies
Additional Information
- Security/Safety: Alarm on Site, Ansul System, Fire Extinguisher(s), Hydrants on Site
Location
- Area: Mount Prospect
- County: Cook
- Township: Wheeling
- Driving Directions: Central and Rand Road in Mount prospect, north to address on Rand Road, east side of the street, in front of Menards.
- Location Details: Central Business District, Mixed-Use Area
Heating & Cooling
- Cooling Type: Central Air Conditioning, Chillers
- Heating Type: Ceiling Units, Central Building Heat, Forced Air
Utilities
- Sewer: Storm Sewer
- Water: Community Water, Municipal Water
- Onsite: Electricity to Site, Natural Gas Available, Sewer Connected, Water Available, Cable Available
Structural Information
- Construction: Brick, Concrete, Block
- Exterior Const.: Brick, Concrete, Block
- Foundation: Concrete Perimeter
- Roof: Membrane, Reflective Coating
- Ceiling Height: 14
- Sub-Flooring: Concrete, Tile, Varies
- Stories/Levels: 2
- Square Feet: 2,533
- Current Bldg. Use: Commercial
- Year Built: 1994
Lot Features
- Lot Size (Sq. Ft.): 23,391
- Lot Dimensions: 289.8 x 29.8 x 241.6 x 147.3
- Frontage: City Street, County Road, Public Road, State Road, Paved
- Drainage: Drainage Ways, Floor Drains, Storm Sewers
- Zoning: RTAIL
Financial Considerations
- For Sale/Rent/Lease: For Sale Only
- Security Deposit: Alarm On Site, Ansul System, Fire Extinguisher/s, Hydrants On Site
- Assessment Year: 1994
- Tax Amount: $43,811.12
- Tax Year: 2024
- Pays Sewer: Storm Sewer
Disclosures and Reports
- Documents Avail.: Floor Plan, Existing Survey, Tax Bill
- Property ID: 3344070140000
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Schools
Schools serving 720 E Rand Rd
School Districts:Mount Prospect School District 57, Township High School District 214
| Name | Grades | Distance |
|---|---|---|
Fairview Elementary School, Mount Prospect, IL 300 North Fairview Avenue, Mount Prospect, IL 60056 | 2-5 | 1 mi |
Westbrook Early Learning Center 103 Busse Road, Mount Prospect, IL 60056 | PK-1 | 1.7 mi |
Lincoln Middle School, Mount Prospect, IL 700 West Lincoln Street, Mount Prospect, IL 60056 | 6-8 | 1.4 mi |
Prospect High School 801 West Kensington Road, Mount Prospect, IL 60056 | 9-12 | 1.2 mi |
Disclaimer:
School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 720 E Rand Rd
Date
Details
Price
Change
Source
4/01/2026
Listed
$1,599,000
24.44%
MLS
4/24/2024
Sold
$1,285,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 720 E Rand Rd
Year
Property Taxes
Change
Tax Assessment
Change
2023
$39,702
2%
$142,791
-2%
2022
$39,054
79%
$146,081
108%
2021
$21,866
2%
$70,312
—
2020
$21,411
11%
$70,312
—
2019
$19,242
5%
$70,312
17%
2018
$18,372
—
$60,205
—
2017
$18,420
16%
$60,205
—
2016
$15,940
-8%
$60,205
1%
2015
$17,250
2%
$59,501
—
2014
$16,954
—
$59,501
—
2013
$16,945
14%
$59,501
3%
2012
$14,873
—
$57,837
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 720 E Rand Rd
720 E Rand Road, Mount Prospect, IL 60056 (MLS# 12607080) is a Commercial property. 720 E Rand Road is currently listed for $1,599,000 and was received on April 01, 2026. Want to learn more about 720 E Rand Road? Do you have questions about finding other Commercial real estate for sale in Mount Prospect? You can browse all Mount Prospect real estate or contact a Coldwell Banker agent to request more information.

