Multi-Parcel Automotive Wash
For Sale
$3,529,000
1098-1122 Dundee Rd, Palatine, IL 60074
Commercially zoned assemblage with road frontage and a Walmart-shared lighted intersection.
Property Size12,500 SF
Lot Size2.70 Acres
Price / SF$282.32
Days on Market20
Property Features for 1098-1122 Dundee Rd
General Information
Standard status
Active
Size
12,500 SF
Lot size
2.70 Acres
Additional Details
Road Access
Yes
Building Details
Year Built
1972
Listing Agency:
Roger H Evans, REALTOR, Inc
(847) 705-9066
Listed By:
Charles Evans · License #471018827
Source:
Bktchicago
Added: Aug 12
Changed: Aug 30
Last Checked: Aug 25 at 4:08AM
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
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.
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 = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$209,250
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,185,000
$4.2M
Cap Rate 7%
$2,989,286
$3.0M
Cap Rate 9%
$2,325,000
$2.3M
Market Conditions
NOI Build-Up for 12,500 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
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
NOI $209,250 @ 7.0% cap · market cap 5.93%
Second Best
Retail
$2.48M
$2.17M – $2.89M
NOI $173,502 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$4.32M
$3.78M – $5.03M
NOI $302,098 @ 7.0% cap · market cap 8.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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
