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

    2340 S Arlington Hts Rd Arlington Heights, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for rent with modern amenities and convenient location.

    Property size:
    583 SF
    Lot size:
    3.39 Acres

    Property Features for 2340 S Arlington Hts Rd

    General Information

    Size
    583 SF
    Lot size
    3.39 Acres

    We can help!

    Listing Contact
    Michael Graham
    Michael Graham
    Source: Moodyscre

    Listing Agency: CBRE | Chicago Listing Agent: Michael Graham

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

    Learn more

    Overview

    Arlington Heights Office Space Available

    This office space, encompassing 583 square feet, is available for rent. The property features 24-hour access and controlled access for enhanced security. An air conditioning system ensures a comfortable environment. A property manager is available on-site. The building includes an atrium and signage opportunities. A conferencing facility is available. The building is equipped with a state-of-the-art sprinkler system and a surveillance system. Recent renovations include the lobby, sidewalks, and elevators. On-site FedEx and UPS stations provide shipping convenience. The building also has an on-site management office. A kitchen/break room with vending machines is available for tenants. An outside eating area is provided.
    Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Building Supply 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
    Arlington Heights
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.650338
    Latitude
    39.800566

    Nearby Similar for Lease

    • Contact for pricing
      22,499 SF

      Retail Shopping Center For Rent

      Remodeled retail shopping center at a high-traffic intersection.
      1013 S Arlington Heights Rd S, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Arlington Heights Retail Space Available

      Retail space near downtown Arlington Heights train station.
      500-550 W Northwest Hwy, Arlington Heights, IL 60004
      View Details
    • Contact for pricing
      179,999 SF

      Established Dental Office End Unit

      Commercial space in a shopping center with ample parking.
      1530 E Hintz Rd, Arlington Heights, IL 60004
      View Details
    • Contact for pricing

      Retail Space Near Train Station

      Remodeled retail space near downtown Arlington Heights train station.
      500-550 W Northwest Hwy, Arlington Heights, IL 60004
      View Details
    • Sponsored
      New
      Contact for pricing

      IL, Arlington Heights - W Stonegate Blvd

      Find fully flexible work and meeting space in AZ, Goodyear - W Park Place
      3400 Stonegate Blvd, Arlington Heights, IL 60005
      View Details
    • $17 SF/Yr

      Office Space with Modern Amenities

      Conveniently located office space with modern amenities and easy access.
      2340 South Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • $1.00 SF/Yr

      Arlington Heights Office and Showroom

      Professionally managed office and showroom building in downtown Arlington Heights.
      116 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • $13 SF/Yr
      38,534 SF

      Medical Suites in Professional Building

      Move-in ready medical suites available near Northwest Community Hospital.
      2010 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Retail Space in Westgate Center

      Retail spaces available in established Arlington Heights shopping center.
      1531-1711 W Campbell St, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      1,500 SF

      Retail Space on Rand Road

      Retail space with high visibility and multiple access points.
      1300-1310 East Rand Rd, Arlington Heights, IL 60004
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Adaptable medical office space with high visibility and convenient location.
      155 E Algonquin Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      1,325 SF

      Retail Space on Dundee Road

      Inline retail space available with high traffic and visibility.
      1021 West Dundee Rd, Arlington Heights, IL 60004
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for rent with modern amenities and convenient location.
    Where is this office units located?
    The property is located at 2340 S Arlington Hts Rd Arlington Heights, IL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: - Secure building with surveillance system and controlled access; - **Newly remodeled lobby, sidewalks, and elevators**; - On-site property manager and building management office
    (847) 706-4033 Call to check price and availability
    Request Owner's contact information
    2340 S Arlington Hts Rd Arlington Heights, IL
    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.
    2340 S Arlington Hts Rd
    Arlington Heights, IL
    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
    2340 S Arlington Hts Rd Arlington Heights, IL
    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!
    Contact for Pricing
    Please call us for current price
    and status of this listing Michael Graham
    Michael Graham
    (847) 706-4033 (312) 935-1400
    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!