Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1 N Main St Algonquin, IL 60102

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $18 SF/Yr ($15,331 /Mo)

    New construction retail space in high-traffic Algonquin location.

    Property size:
    10,221 SF
    Lot size:
    10,221 SF

    Property Features for 1 N Main St

    General Information

    Size
    10,221 SF

    We can help!

    Listing Contact
    Lina Adamis
    Lina Adamis
    Source: Svnchicago

    Listing Agent: Lina Adamis

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Prime Retail Space in Algonquin

    This new construction mixed-use retail space is located in the heart of Algonquin, in the downtown district at the intersection of IL Route 31 (Main Street) and IL Route 62 (Algonquin Road). The property is strategically placed along the Fox River, providing easy access and landmark visibility. The building includes 63 apartments, with over 97% occupancy. Approximately 2,943 square feet of retail space is available and can be subdivided into various sizes ranging from 1,129 SF to 2,943 SF. A parking lot with 20 parking spots is available adjacent to the property, designated specifically for these retail units, with additional free street parking also available. The location is ideal for boutique businesses including local restaurants, brewery, winery/shop, salon/spa, specialty shops, dry cleaning, or entertainment venues. Outdoor patio space is available, and the property is located immediately on the Fox River Riverwalk. The area experiences heavy pedestrian traffic in the summer due to Algonquin festivals and summer activities. The property benefits from built-in clientele with the apartments above. TI packages are available, and units are currently in cold shell condition. The property is located in a higher income area and adjacent neighborhoods. The location is suitable for a restaurant, boutique retailer, office user, or cafe. 60% of the ground floor retail is currently occupied by Melt Yoga and Prima Med Spa, and Root Dental.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Algonquin
    County
    McHenry
    State
    Illinois
    Longitude
    -88.3219
    Latitude
    42.1714

    Nearby Similar for Lease

    • New
      Contact for pricing

      Historic Boutique Space on Main

      Prime commercial space in revitalized downtown Algonquin near Fox River.
      115 S Main St, Algonquin, IL 60102
      View Details
    • Contact for pricing

      Furnished Office Space in Algonquin

      Furnished office space with utilities included in Algonquin, Illinois.
      2390 Esplanade Dr, Algonquin, IL 60102
      View Details
    • Contact for pricing
      10,890 SF

      Algonquin Office Space Available

      Second floor office with private offices and bathroom for rent.
      329 Jefferson St, Algonquin, IL 60102
      View Details
    • $22 SF/Yr
      1,200 SF

      Retail Space in High-Traffic Area

      Former hair salon in a busy retail corridor.
      244-272 S Randall Rd, Algonquin, IL
      View Details
    • $15 SF/Yr
      6,581 SF

      Medical Office Condo Available

      Pristine medical office condo in Algonquin, available Q3 2024.
      1474-1494 Merchant Dr, Algonquin, IL
      View Details
    • $18 SF/Yr
      1,814 SF

      Retail Space with Built-in Clientele

      Retail suites available with high-end apartments above and parking.
      1 N Main St, Algonquin, IL
      View Details
    • Contact for pricing
      1,507 SF

      Retail Space on Algonquin Road

      Retail building with two available units in Algonquin, Illinois.
      501-515 E Algonquin Rd, Algonquin, IL
      View Details
    • Contact for pricing
      2,042 SF

      Premier Lifestyle Destination in Algonquin

      Shopping, dining, and entertainment destination in Chicago's northwestern suburbs.
      1704-1748 S Randall Rd, Algonquin, IL
      View Details
    • Contact for pricing
      3,658 SF

      Algonquin Commons Retail Opportunity

      Premier shopping, dining, and entertainment destination in Algonquin, Illinois.
      1604-1628 S Randall Rd, Algonquin, IL
      View Details
    • Contact for pricing
      4,487 SF

      Premier Lifestyle Destination in Algonquin

      Shopping, dining, and entertainment destination in Chicago's northwestern suburbs.
      1816-2120 S Randall Rd, Algonquin, IL
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space in Regional Corridor

      Retail space with high visibility in a shopping corridor.
      2531 W Algonquin Rd, Algonquin, IL
      View Details
    • Contact for pricing

      Algonquin Retail Space Available

      Retail space for rent, located near downtown Algonquin.
      501-515 E Algonquin Rd, Algonquin, IL 60102
      View Details

    FAQs

    What type of property is this?
    Retail space - New construction retail space in high-traffic Algonquin location.
    Where is this retail space located?
    The property is located at 1 N Main St Algonquin, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: - Built-in Clientele: Over 60 high-end apartments above the retail space provide a consistent customer base.; - Prime Location: High visibility and easy access at the intersection of IL Route 31 and IL Route 62 in downtown Algonquin.; - Designated Parking: A private lot with 20 spaces for retail tenants, plus free street parking.
    (224) 723-2528
    Request Owner's contact information
    1 N Main St Algonquin, IL 60102
    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.
    1 N Main St
    Algonquin, IL 60102
    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
    1 N Main St Algonquin, IL 60102
    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

    We can help!
    Listing Contact
    Lina Adamis
    Lina Adamis
    (224) 723-2528 (312) 676-1866
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!