Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1818 E Northwest Hwy Arlington Heights, IL 60004

    View on Map
    Sponsored
    For Sale
    $425,000

    COMMERCIAL - Arlington Heights, IL

    Type:Office
    Property size:
    900 SF
    Lot size:
    0.23 Acres
    Days on Market:
    1
    Last Refresh:
    Mar 5 at 11:06 pm

    Property Features for 1818 E Northwest Hwy

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Standard status
    Active
    APN
    03331180150000
    Size
    900 SF
    Lot size
    0.23 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1956
    Floors in Building
    1
    Number of units
    5
    Flooring type
    Carpet
    Building materials
    Brick, Stucco, Stone

    We can help!

    Listing Contact
    Tim Fulk

    MisterHomes Real Estate (847) 849-1797 x501

    Listing agent Tim Fulk (847) 630-3855

    Listing date Mar 5, 2026

    MLS# 12573691

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Versatile Commercial Building Near Downtown

    This classic brick and stone building, constructed in 1956, presents a versatile opportunity for business owners or investors. The property is located approximately one mile east of downtown Arlington Heights, between downtown Arlington Heights and Mount Prospect, offering proximity to two train stations, retail stores, restaurants, and other office buildings. The building features five potential rental units, including four small offices ranging from 190 to 250 square feet, and a larger front office of approximately 900 square feet that includes two smaller private offices. A full basement is available for storage. A large, recently paved parking lot provides 18 spaces, with additional parking available along Northwest Highway. The roof was replaced over 10 years ago. Two air conditioning units and furnaces are in good condition. The property is zoned B2. The lot size is 0.2271 acres.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Heights
    County
    Sangamon
    State
    Illinois
    Longitude
    -87.9793
    Latitude
    42.1121

    Nearby Similar for Sale

    • $1,399,000
      12,320 SF

      Arlington Heights Retail Opportunity

      Bow truss building with parking near Arlington Heights downtown.
      1000 W Hwy NW, Arlington Heights, IL
      View Details
    • Contact for pricing
      100,393 SF

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in doors.
      501-571 W Golf Rd, Arlington Heights, IL 60005
      View Details
    • $499,000
      2,286 SF

      Renovated Commercial Space For Sale

      Move-in ready, versatile space suitable for medical, office, or commercial use.
      3419 N Betty Dr, Arlington Heights, IL
      View Details
    • Contact for pricing

      Auto Shop on Rand Road

      Single-tenant auto shop in Prospect Heights, Arlington Heights, IL
      1205 N Rand Rd, Arlington Heights, IL
      View Details
    • Contact for pricing
      36,671 SF

      Arlington Heights Office Building For Sale

      36,671 SF office building in prime Arlington Heights location.
      3150 W Salt Crk Ln, Arlington Heights, IL
      View Details
    • Contact for pricing
      16,425 SF

      Arlington Heights Redevelopment Opportunity

      Multi-tenant medical office building for redevelopment on 1.77 acres.
      1300 E Central Rd, Arlington Heights, IL
      View Details
    • $925,000
      21,780 SF

      +-21780 SF Office Building For Sale

      +-21780 SF Office Building For Sale
      204 W Wing Street, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      99,365 SF

      Air Conditioned Warehouse/Distribution Space

      99,365 SF building with highway access in Arlington Heights, IL.
      3311-3333 N Kennicott Ave, Arlington Heights, IL
      View Details
    • $2,495,000
      36,671 SF

      Arlington Heights Office Building

      Vacant Executive Office, 36,671 SF
      3150 Salt Crk Ln, Arlington Heights, IL 60005
      View Details
    • $995,000
      8,000 SF

      Commercial Building in Arlington Heights

      Well-maintained commercial building with income potential in high-traffic area.
      505 E Golf Rd, Arlington Heights, IL 60005
      View Details
    • $140,000
      Pending

      Established Coffee Shop Business

      Profitable coffee shop with loyal customer base for sale.
      1085 E Golf Rd, Arlington Heights, IL 60005
      View Details
    • $1,200,000
      11,677 SF

      Arlington Heights Commercial Opportunity

      Versatile commercial building with owner financing and high traffic.
      2407 E Oakton St E, Arlington Heights, IL 60005
      View Details

    FAQs

    What type of property is this?
    Office building - Classic brick building with rental income potential near downtown.
    Where is this office building located?
    The property is located at 1818 E Northwest Hwy Arlington Heights, IL.
    What is the asking price?
    The asking price for this property is $425,000.
    What are key features of this property?
    This property features: - Prime location between downtown Arlington Heights and Mt. Prospect, near train stations, retail, restaurants, and offices.; - Versatile office space with five potential rental units offering income potential.; - Ample parking with 18 spaces plus additional spaces along Northwest Highway.
    (847) 255-3535
    Request Owner's contact information
    1818 E Northwest Hwy Arlington Heights, IL 60004
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1818 E Northwest Hwy
    Arlington Heights, IL 60004
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1818 E Northwest Hwy Arlington Heights, IL 60004
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Tim Fulk
    (847) 255-3535 (847) 849-1797 (847) 630-3855
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!