Ascot Shopping Center | Value-Add Retail | Chicago MSA

Investment Highlights: 

• Metra-Adjacent Corner at Wolf & Camp McDonald: Sits at a signalized corner seeing 15,560 VPD, steps from the Prospect Heights Metra stop.
• Value-Add Lease-Up Across Three Open Suites: 2,583 SF sits vacant across three separate suites, offering immediate lease-up upside.
• 2.55-Acre Land Basis Below Replacement Cost: 111,193 SF parcel supports lease-up, partial redevelopment, or a long-term land hold strategy.
• 18-Tenant Roster of Service-Oriented Users: Daycare, dog groomer, fitness, salon, and F&B tenants drive recurring neighborhood traffic.
• Freshly Reduced Tax Basis Post-Appeal: 2025 taxes projected at $174,126 payable 2026, reflecting a recently completed tax appeal.
• Affluent, Established Chicago MSA Suburb: Average household income reaches $133,185 within one mile of this Prospect Heights corner.

Offering Summary: 

Brokered by Baum Realty Group and powered by RealINSIGHT Marketplace, 1-55 S. Wolf Road in Prospect Heights, IL is a 27,123 SF, 18-unit value-add retail center spanning two single-story buildings on 2.55 acres (111,193 SF) at the signalized corner of S. Wolf Road and E. Camp McDonald Road, immediately adjacent to the Prospect Heights Metra station. The center is 90.5% leased to a diverse, service-oriented tenant roster including a daycare, multiple restaurants, a dog groomer, a liquor store, and a fitness studio, generating $400,331 in gross rental income against $238,358 in operating expenses for net operating income of $161,973. Three vacant or owner-occupied suites totaling 2,583 SF provide immediate lease-up upside, while several leases carry below-market in-place rents with step-ups still ahead. The offering sits at an attractive land basis well below replacement cost, giving a buyer flexibility to pursue traditional lease-up, partial redevelopment, or a long-term hold of the 2.55-acre parcel. A recently completed tax appeal has reduced the projected 2025 tax burden to $174,126, payable 2026, further supporting near-term cash flow. Positioned in the Chicago MSA, the nation's third-largest metro economy, with average household income of $133,185 within one mile, the property offers a rare mix of in-place income, redevelopment optionality, and transit-oriented visibility.

The ±33,050 SF Wolf Point Shopping Center, located directly across the intersection, is also up for auction on RI Marketplace in the August 19th Event. Contact Broker for more information. 

Location

1-55 S. Wolf Road sits at the signalized, 15,560-VPD corner of S. Wolf Road and E. Camp McDonald Road in Prospect Heights, directly across from the Prospect Heights Metra station and steps from Wolf Point Shopping Center. The site offers quick access to Route 83 and I-294, sits 5 minutes from Chicago Executive Airport, and is a 15-minute drive to O'Hare International Airport.