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    1901 McConnor Parkway Schaumburg, IL 60173

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    For Lease
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    Future restaurant space with patio and highway visibility available for rent.

    Type:Retail
    Property size:
    12,000 SF
    Added:
    Nov 22, 2025
    Days on Market:
    166
    Last Refresh:
    Apr 5 at 9:20 pm

    Property Features for 1901 McConnor Parkway

    General Information

    Standard status
    Active
    Size
    12,000 SF
    Property subtype
    Retail

    We can help!

    Listing Contact
    Mario Melone
    Mario Melone

    Listing agent Mario Melone License #475150504

    Listing office CBRE | Chicago

    Listing date Nov 22, 2025

    Source Cbre

    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

    HighLights

    • Excellent highway visibility with +/-188,700 VPD
    • +/- 12,000 SF of Future Restaurant Space Available
    • Opportunity includes +/- 1,400 SF of exterior patio space
    • Strong demographics and daytime population in the immediate market
    • Co‑tenancy with Blue Martini (soon to be under construction)
    • Building will undergo a significant exterior renovation

    Overview

    Future Restaurant Space with Patio

    Approximately 12,000 square feet of future restaurant space is available for rent, including an estimated 1,400 square feet of exterior patio space. The location offers co-tenancy with Blue Martini, which is soon to be under construction. The building is planned to undergo a significant exterior renovation. The property benefits from strong demographics and a substantial daytime population in the immediate market. It features excellent highway visibility, with approximately 188,700 vehicles per day passing by the location. The surrounding area has a strong retail, office, and hotel presence and is located in close proximity to national brand restaurants, including Capital Grille, Wildfire, and Perry’s, in the Schaumburg/Woodfield Mall area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Restaurants

    Suggested Use

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

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

    Similar Places Nearby

    • Kona-Ice of Arlington Heights — 1834 Walden Office Square Suite 500, Schaumburg, IL 60173
    • Ché's Full of Flavor — 1900 E Golf Rd, Schaumburg, IL 60173

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.0309
    Latitude
    42.0539

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    FAQs

    What type of property is this?
    Restaurant - Future restaurant space with patio and highway visibility available for rent.
    Where is this restaurant located?
    The property is located at 1901 McConnor Parkway Schaumburg, IL.
    What are key features of this property?
    This property features: Excellent highway visibility with +/-188,700 VPD; +/- 12,000 SF of Future Restaurant Space Available; Opportunity includes +/- 1,400 SF of exterior patio space
    (630) 573-7112
    We can help!
    Listing Contact
    Mario Melone
    Mario Melone
    Real Estate License ID: 475150504
    Learn More
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    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.

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    1901 McConnor Parkway, Schaumburg, IL, 60173
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