Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    516-20 W Wing St Arlington Hts, IL 60005

    Sponsored
    Picture of Residential land & home lots at W Wing St 516-20, Arlington Hts, IL
    For Sale
    $389,000

    LAND - Arlington Heights, IL

    Days on Market:
    10
    Last Refresh:
    Jan 25 at 11:06 am

    Property Features for 516-20 W Wing St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Zoning
    SINGL
    APN
    03304180220000

    Utilities

    Utilities
    Natural Gas Available

    We can help!

    Listing Contact
    John Calkins

    Compass Real Estate

    Listing agent John Calkins (773) 259-1598

    Listing date Jan 16, 2026

    MLS# 12547116 Listing URL

    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

    Arlington Heights Land Opportunity

    This 92 x 132 lot is located within walking distance of downtown Arlington Heights. The property is conveniently situated close to the train, restaurants, shopping, schools, and parks. This location offers an opportunity to build a home in a desirable neighborhood.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential land & home ...

    Suggested Use

    Law Firm Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Hts
    County
    Cook
    State
    Illinois
    Longitude
    -87.989876
    Latitude
    42.084057

    Nearby Similar for Sale

    • $1,200,000
      0.60 Acres

      Arlington Heights Commercial Opportunity

      Versatile commercial building with owner financing and high visibility.
      2407 E Oakton St E, Arlington Hts, IL 60005
      View Details
    • $219,999

      Well-Maintained Condo Near Lake Arlington

      Move-in ready 2-bedroom condo with recent upgrades and community amenities.
      2620 N Windsor Dr, Arlington Hts, IL 60004
      View Details
    • $277,900
      1,300 SF

      Updated First Floor Condo

      Two-bedroom condo with updated features, in-unit laundry, and garage.
      1415 W Partridge Ln, Arlington Hts, IL 60004
      View Details
    • $224,900

      Arlington Heights Condo with Pond View

      Two-bedroom, two-bathroom condo with pond view in Arlington Heights.
      2407 S Goebbert Rd, Arlington Hts, IL 60005
      View Details
    • $2,495,000
      36,671 SF

      Arlington Heights Office Building

      36,671 SF office building near Route 53 and Euclid Avenue.
      3150 W Salt Creek Ln, Arlington Hts, IL 60005
      View Details
    • $189,999

      Arlington Heights Condo with Amenities

      Well-maintained 2 bed, 2 bath condo with modern amenities.
      2622 N Windsor Dr, Arlington Hts, IL 60004
      View Details
    • Contact for pricing
      26,750 SF

      Arlington Heights Warehouse For Sale

      26,750 SF building with docks, drive-in door, and parking.
      125 Weiler Rd, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      109,000 SF

      Arlington Heights Medical Office Space

      Medical office space available in Arlington Heights, Illinois.
      3030 Salt Creek Ln, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      113,570 SF

      Flex Warehouse Space Available

      Flex/warehouse space with loading docks and drive-in doors.
      702-778 West Algonquin Rd, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      14,000 SF

      Industrial Property in Established Park

      Seven-unit industrial property with easy access to major transportation routes.
      150 Elizabeth Dr, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      27,712 SF

      Arlington Heights Retail Center For Sale

      Multi-tenant retail center with value-add opportunity in Arlington Heights, IL.
      1213-1221 E Rand Rd, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      11,400 SF

      Bank/Office Building on Dundee Road

      Well-maintained bank/office building in a high-traffic retail corridor.
      770 West Dundee Rd, Arlington Hts, IL 60004
      View Details

    FAQs

    What type of property is this?
    Residential land & home lot - Residential lot near downtown Arlington Heights, ideal for building.
    Where is this residential land & home lot located?
    The property is located at 516-20 W Wing St Arlington Hts, IL.
    What is the asking price?
    The asking price for this property is $389,000.
    What are key features of this property?
    This property features: - Large 92 X 132 Lot Size; - Walking Distance to Downtown Arlington Heights; - Close Proximity to Train
    (312) 319-3300
    Request Owner's contact information
    516-20 W Wing St Arlington Hts, IL 60005
    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.
    516-20 W Wing St
    Arlington Hts, IL 60005
    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
    516-20 W Wing St Arlington Hts, IL 60005
    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
    John Calkins
    (312) 319-3300
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.