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Property 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.
Full Property Details
Full Property Details for 720 E Rand Rd
General
- Price: $1,350,000
- Taxes: $39,701 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12705773
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
Unit Information
- # Tenants: 1
Lot Features
- Lot Size (Acres): 0.537
- 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: $39,701.93
- Tax Year: 2023
- Tenant Pays: Air Conditioning, Common Area Maintenance, Electricity, Heat, Janitorial Service, Taxes, Insurance, Scavenger, Sewer
- Pays Sewer: Storm Sewer
Disclosures and Reports
- Documents Avail.: Floor Plan, Existing Survey, Tax Bill, Traffic Counts
- 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.
Tax History
Tax History for 720 E Rand Rd
Year
Property Taxes
Change
Tax Assessment
Change
2023
$39,702
—
$165,000
16%
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# 12705773) is a Commercial property. 720 E Rand Road is currently listed for $1,350,000 and was received on July 20, 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.

