Palatine Retail Space For
For Sale
$1,275,000
Pending
1131 East Dundee Road, Palatine, IL 60074
Retail space in Palatine, Illinois, available for purchase.
Property Size5,323 SF
Lot Size0.90 Acres
Days on Market149
Property Features for 1131 East Dundee Road
General Information
Standard status
Pending
Size
5,323 SF
Lot size
0.90 Acres
Property subtype
Retail
Listing Agency:
CBRE | Chicago
(312) 861-7851
Listed By:
Peter Graham
(312) 861-7851
Source:
Cbre
Added: Mar 25
Changed: Aug 8
Last Checked: Aug 3 at 3:30AM
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 CBRE | Chicago
Investment Insights
Based on property information with market context.
The property features a basement with approximately 1,347 square feet and a ground floor with approximately 5,323 square feet. The land size is approximately 0.9 square feet. The PIN number is 02-12-101-041. The 2024 taxes, payable in 2025, are $96,281.
Key Highlights
- +\/-5,323 SF Ground Floor with +\/-1,347 SF Basement: Large building size.
- Substantial Land Size: +\/- 0.9 SF.
- Asking Price $1,275,000: High‑value property.
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
$73,884
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
5.79%
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%
$1,477,680
$1.5M
Cap Rate 7%
$1,055,486
$1.1M
Cap Rate 9%
$820,933
$820.9K
Market Conditions
NOI Build-Up for 5,323 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
$115.0K $21.60/SF
− Vacancy
−$9.4K −$1.77/SF
EGI
$105.5K $19.83/SF
− OpEx
−$31.7K −$5.95/SF
NOI
$73.9K $13.88/SF
Area
Cook County, IL
Vacancy
8.20%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
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%
$1,477,680
Cap Rate 7%
$1,055,486
Cap Rate 9%
$820,933
Alternative Uses
Best Use
Retail
$1.06M
$923.6K – $1.23M
NOI $73,884 @ 7.0% cap · market cap 5.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.14M
NOI $128,645 @ 7.0% cap · market cap 10.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
957
Businesses Nearby
433k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 35%
Shops & Services 22%
Superstores 19%
Home Improvements & Furnishings 10%
Walmart
Superstores
82,141 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
42,789 visits/mo
0.3 miles
McDonald's
Dining
36,188 visits/mo
0.2 miles
Aldi
Groceries
22,350 visits/mo
0.4 miles
Delta Sonic Car Wash
Shops & Services
19,239 visits/mo
0.2 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
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Frequently Asked Questions
What type of property is this?
Retail space - Retail space in Palatine, Illinois, available for purchase.
Where is this retail space located?
The property is located at 1131 East Dundee Road Palatine, IL.
What is the asking price?
The asking price for this property is $1,275,000.
What are key features of this property?
This property features: +\/-5,323 SF Ground Floor with +\/-1,347 SF Basement: Large building size.; Substantial Land Size: +\/- 0.9 SF.; Asking Price $1,275,000: High‑value property.
