Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Commercial Land in Schaumburg, IL Title is generated by Realmo AI

    1 E IRVING PARK Road, Schaumburg, IL 60193

    View on Map
    Claim this Listing
    For Sale
    $299,900

    LAND - Schaumburg, IL

    Lot size:
    0.99 Acres
    Added:
    Feb 23, 2026
    Days on Market:
    85
    Last Refresh:
    May 19 at 2:06 pm

    Property Features for 1 E IRVING PARK Road

    General Information

    Property type
    Land
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active
    APN
    07321050270000
    Lot size
    0.99 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    12394

    We can help!

    Listing Contact
    Jerry Hoffman
    Jerry Hoffman

    Listing agent Jerry Hoffman License #471008284

    Listing office Keller Williams Success Realty 600 Hart Rd. #105, Barrington, IL

    Listing date Feb 23, 2026

    MLS# 12575501 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.

    HighLights

    • B‑2 Commercial Zoning on approximately 1 acre
    • High traffic count area
    • Quick access to expressway and train
    • Excellent opportunity on a rarely available large commercial parcel
    • Surrounded by lots of business and residential
    • Potential for office, retail, or fast food development

    Overview

    This commercial land parcel, approximately 0.99 acres, is located in Schaumburg, IL, and is zoned B-2 Commercial. The property offers an excellent opportunity due to its size and commercial zoning. A potential concept for the site includes an office building, retail space, or fast food establishment, although this is not an approved plan. The location benefits from a high traffic count and quick access to the expressway and train. The surrounding area includes a mix of business and residential properties.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.122067
    Latitude
    41.999911

    Nearby Similar for Sale

    • $1,950,000

      Schaumburg Commercial Property For Sale

      Established car care center with investment potential in Schaumburg, IL.
      1801 W Wise Road, Schaumburg, IL 60193
      View Details
    • $679,900
      2,600 SF

      Schaumburg Office Suite For Sale

      2,600 SF office suite in Courtyards of Woodfield, Schaumburg.
      800 E Woodfield Road, Suite 115 & 116 | Schaumburg, IL 60173
      View Details
    • $300,000

      Schaumburg Commercial Land For Sale

      1.88 Acre commercial land available in Schaumburg, Illinois.
      243 W GOLF Road, Schaumburg, IL 60195
      View Details
    • $895,000
      2,915 SF

      Restaurant on Corner Lot For Sale

      Restaurant on a corner lot with high traffic and visibility.
      1820 W Irving Park Road, Schaumburg, IL 60193
      View Details
    • $375,000

      Premium Lot in Coventry Woods

      Premium lot to build your dream home in Schaumburg.
      6 Stone Bridge Court, Schaumburg, IL 60193
      View Details
    • $159,900

      Schaumburg Commercial Property For Sale

      Commercial property available for purchase in Schaumburg, Illinois.
      5 Woodfield Mall, Schaumburg, IL 60173
      View Details
    • $1,200,000

      Schaumburg Commercial Property for Sale

      Commercial property available in Schaumburg, Illinois.
      25 S Roselle Road, Schaumburg, IL 60193
      View Details
    • $4,500,000
      61,196 SF

      Schaumburg Office Complex For Sale

      Well-maintained 63,345 SF office complex in Schaumburg, Illinois.
      830-890 E Higgins Rd, Schaumburg, IL 60173
      View Details
    • $675,000
      5,995 SF

      Schaumburg Industrial/Warehouse Space For Sale

      5,995 SF industrial/warehouse space with office and executive lounge.
      935 Lunt Ave, Schaumburg, IL
      View Details
    • $22
      186,545 SF

      Class A Office Building

      Seven-story office building with heated parking and modern amenities.
      1375 East Woodfield Road, Schaumburg, IL 60173-6068
      View Details
    • $350,000
      33,841 SF

      Shovel-Ready Land Site Near Hospitals

      33,841 SF shovel-ready land site near Horizon Medical Center.
      1301A N Plum Grove Road, Schaumburg, IL 60173
      View Details
    • $45,000

      Turn-Key Boutique Studio in Schaumburg

      High-end permanent makeup and tattoo studio in Scharrington Square.
      2509 W Schaumburg Road, Schaumburg, IL 60193
      View Details

    FAQs

    What type of property is this?
    Commercial land - Approximately 1 acre commercial land with B-2 zoning.
    Where is this commercial land located?
    The property is located at 1 E IRVING PARK Road Schaumburg, IL.
    What is the asking price?
    The asking price for this property is $299,900.
    What are key features of this property?
    This property features: B‑2 Commercial Zoning on approximately 1 acre; High traffic count area; Quick access to expressway and train
    (847) 381-9500
    We can help!
    Listing Contact
    Jerry Hoffman
    Jerry Hoffman
    Real Estate License ID: 471008284
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    1 E IRVING PARK Road, Schaumburg, IL 60193
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!