Why wouldn’t he date me?

I have a close friend for 3 years now and lately, he started to call and text me more than ever. He ask me to a “hangout” and compliment me a-lot. He tells me I’m beautiful, smart and so successful. He adores me and beg to see me. He also calls me late at night. But thats it. Never a kiss and never a date. So I took courage And asked him out. He suddenly said that he did think about me that way but besides chemistry and amazing time together we haven’t got anything in common. So we shouldn’t date. How should I take it?
Why wouldn’t he date me?
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