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    2350 W Higgins Rd Hoffman Estates, IL 60169

    For Sale
    $3,800,000

    7.24-acre land parcel ready for development in Hoffman Estates, IL.

    Property size:
    7 SF
    Lot size:
    7.24 Acres

    Property Features for 2350 W Higgins Rd

    General Information

    Size
    7 SF
    Lot size
    7.24 Acres

    Building Details

    Year built
    2016

    Source: Wayne Caplan Agent Wayne Caplan

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

    Overview

    Development Land in Hoffman Estates

    This 7.24-acre land parcel is located in Hoffman Estates, Illinois, approximately 25 miles northwest of Downtown Chicago and 12 miles from O'Hare International Airport. The site is zoned B2-Commercial, allowing for many possible uses, including multi-family development. The village of Hoffman Estates has targeted this property for a 300-unit multi-family development as part of the village's 2022 Master Plan. The property is adjacent to Barrington Square Town Center, a fully stabilized shopping center of approximately 100,000 square feet, and several large office parks. It benefits from co-tenancy including a new prototype McDonald's, 7-11 & Buona Beef and Popeye's out lots, as well as Poplar Creek Bowl, Advance Pre School, America's Bar, Gigi's Playhouse and Garibaldi's Restaurant. The site is directly across the street from the Amita Health St. Alexius Medical Center campus, which has over 300 beds and approximately 2,700 employees. The site has a fully paved, landscaped, and constructed parking lot with approximately 275 spaces and is serviced by both underground and pond detention. A pad-ready out lot of 52,905 SF is also available. The property has frontage on Higgins Road with over 30,000 daily vehicle count.
    Location Intelligence

    Current Use by Public Records

    Hugs Mugs Gift ... Cafe GiGi's PlayHouse Hoffman ... Non-Profit Organization GiGi's Playhouse Down ... Non-Profit Organization

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Hoffman Estates
    County
    Cook
    State
    Illinois
    Longitude
    -88.1377067
    Latitude
    42.0592309

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    FAQs

    What type of property is this?
    Land - 7.24-acre land parcel ready for development in Hoffman Estates, IL.
    Where is this land located?
    The property is located at 2350 W Higgins Rd Hoffman Estates, IL.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: - Targeted for 300-unit multi-family development in the village's 2022 Master Plan.; - Zoned B2-Commercial, allowing for many possible uses.; - Pad-ready with all utilities to site and existing parking for approximately 275 spaces.
    (312) 529-5791
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    2350 W Higgins Rd Hoffman Estates, IL 60169
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    Realmo Value Estimation

    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.

    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.

    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
    2350 W Higgins Rd Hoffman Estates, IL 60169
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