Building Details

Year Built 1972

Listing Agency: Roger H Evans, REALTOR, Inc

Listed By: Charles Evans · License #471018827 Show Phone

Source: Bktchicago

Added: Aug 12 Changed: Oct 11 Last Checked: Oct 7 at 5:11PM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Roger H Evans, REALTOR, Inc

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Investment Insights

Based on property information with market context.

This automotive wash property comprises five parcels along Dundee Road, totaling approximately 2.7 acres. The site carries COMMR zoning, and the improvements date to 1972. The property information also identifies a 2,500 property-size figure, without specifying its measurement.

The assemblage extends along Dundee Road with over 560 feet of frontage and benefits from a lighted intersection shared with Walmart. The property is located within the Rand Road TIF District and includes the address range 1098-1122 Dundee Road in Palatine, Illinois. These facts provide a clear overview of the site’s parcel count, commercial designation, roadway exposure, and surrounding retail access.

Key Highlights

• Five‑parcel property totaling +/- 2.7 acres
• Over 560 feet of frontage along Dundee Road
• COMMR commercial zoning

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$209,250

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,185,000 $4.2M

Cap Rate 7%

$2,989,286 $3.0M

Cap Rate 9%

$2,325,000 $2.3M

Is this asking price fair?

Market Conditions

NOI Build-Up for 12,500 SF

Gross rent

$300.0K $24.00/SF

− Vacancy

−$21.0K −$1.68/SF

EGI

$279.0K $22.32/SF

− OpEx

−$69.8K −$5.58/SF

NOI

$209.3K $16.74/SF

Area

Cook County, IL

Vacancy

7.00%

Lease Rate

$24.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,185,000

Cap Rate 7%

$2,989,286

Cap Rate 9%

$2,325,000

Alternative Uses

Best Use

Specialty Retail

$2.99M

$2.62M – $3.49M (±1% cap)

NOI $209,250 @ 7.0% cap · market cap 5.93%

Second Best

Retail

$2.48M

$2.17M – $2.89M (±1% cap)

NOI $173,502 @ 7.0% cap · market cap 4.92%

Theoretical Best

Office A

$4.32M

$3.78M – $5.03M (±1% cap)

NOI $302,098 @ 7.0% cap · market cap 8.56%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Retail space

Suggested Use

Top Pick Law Firm Building Supply Real Estate Agency Big Box & Wholesale Store Dental Office Restaurant

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

936

Businesses Nearby

550k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 29% Dining 28% Shops & Services 25% Home Improvements & Furnishings 8%

Walmart Superstores

82,141 visits/mo 0.1 miles

Target Superstores

76,065 visits/mo 0.4 miles

The Home Depot Home Improvements & Furnishings

42,789 visits/mo 0.2 miles

McDonald's Dining

36,188 visits/mo 0.1 miles

Aldi Groceries

22,350 visits/mo 0.3 miles

Demographics for 60074, IL

37,705

Population

14,953

Households

2.5

Avg Household Size

38

Median Age

42%

College-Educated

85%

High-School Grad

7.1 sq mi

ZIP Area

5,311

Density / Sq Mi

$81,911

Median Household Income

$45,217

Median Earnings

$1,429

Median Rent

$307,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Car wash - Commercially zoned assemblage with road frontage and a Walmart-shared lighted intersection.

Where is this car wash located?

The property is located at 1098-1122 Dundee Rd Palatine, IL.

What is the asking price?

The asking price for this property is $3,529,000.

What are key features of this property?

This property features: Five‑parcel property totaling +/- 2.7 acres; Over 560 feet of frontage along Dundee Road; COMMR commercial zoning