Freestanding Retail Building with
For Sale
$585,000
1157 E Algonquin Road, Des Plaines, IL 60016
Renovated commercial building offers an open layout, four private bathrooms, kitchen area, and parking on both sides.
Property Size2,040 SF
Days on Market100
Property Features for 1157 E Algonquin Road
General Information
Standard status
Active
Size
2,040 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Taxes and HOA fees
Annual Taxes
$15,532
Amenities
open floor plan
4 private bathrooms
kitchen area
dual zone
Building Details
Building Size
2,040 SF
Year Built
1973
Buildings
1
Stories
1
Listing Agency:
Landmark Realtors
(773) 467-8500
Listed By:
Ewa Bosowski · License #475123721
(773) 467-8500
Source:
Perillorealestategroup
Added: May 4
Changed: Aug 7
Last Checked: Aug 10 at 10:49AM
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 Landmark Realtors
Investment Insights
Based on property information with market context.
This vacant freestanding commercial building contains 2,000+ square feet on a large lot with parking at the front and rear. The open interior includes four private bathrooms and a kitchen area, while dual-zone service supports the building’s existing configuration. A new roof and renovations completed a couple years ago are also noted. The layout can function as two separate facilities, and the structure may accommodate a second floor addition, subject to applicable approvals.
The property has direct street visibility and is located near I-90, I-294, and O'Hare Airport. Built in 1973, it was most recently operated as a day care and can accommodate office or retail use based on the stated property information.
The property has direct street visibility and is located near I-90, I-294, and O'Hare Airport. Built in 1973, it was most recently operated as a day care and can accommodate office or retail use based on the stated property information.
Key Highlights
- 2,000+ square feet on a large lot
- Front and rear parking areas
- Open layout with 4 private bathrooms and kitchen area
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
$28,316
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
4.84%
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%
$566,320
$566.3K
Cap Rate 7%
$404,514
$404.5K
Cap Rate 9%
$314,622
$314.6K
Market Conditions
NOI Build-Up for 2,040 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
$44.1K $21.60/SF
− Vacancy
−$3.6K −$1.77/SF
EGI
$40.5K $19.83/SF
− OpEx
−$12.1K −$5.95/SF
NOI
$28.3K $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%
$566,320
Cap Rate 7%
$404,514
Cap Rate 9%
$314,622
Alternative Uses
Best Use
Retail
$404.5K
$354.0K – $471.9K
NOI $28,316 @ 7.0% cap · market cap 4.84%
Second Best
Office B
$401.8K
$351.6K – $468.8K
NOI $28,128 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$704.3K
$616.3K – $821.7K
NOI $49,302 @ 7.0% cap · market cap 8.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
361
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60016, IL
61,888
Population
25,613
Households
2.4
Avg Household Size
42
Median Age
43%
College-Educated
89%
High-School Grad
12.1 sq mi
ZIP Area
5,115
Density / Sq Mi
$84,044
Median Household Income
$50,180
Median Earnings
$1,406
Median Rent
$300,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Renovated commercial building offers an open layout, four private bathrooms, kitchen area, and parking on both sides.
Where is this storefront property located?
The property is located at 1157 E Algonquin Road Des Plaines, IL.
What is the asking price?
The asking price for this property is $585,000.
What are key features of this property?
This property features: 2,000+ square feet on a large lot; Front and rear parking areas; Open layout with 4 private bathrooms and kitchen area
