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    506-604 W Wise Rd Schaumburg, IL 60193

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    For Sale
    Contact for pricing

    Multi-tenant retail center on 3.36 acres in Schaumburg, Illinois.

    Property size:
    29,621 SF
    Lot size:
    3.53 Acres

    Property Features for 506-604 W Wise Rd

    General Information

    Size
    29,621 SF
    Lot size
    3.53 Acres

    Source: Cawley Chicago Agent Rawly Lantz, SIOR

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

    Overview

    Schaumburg Retail Center For Sale

    Cove Plaza, located at 506-604 West Wise Road in Schaumburg, Illinois, is a multi-tenant retail center available for purchase. The property features a total size of approximately 29,621 square feet, including an out-lot restaurant of approximately 3,150 square feet and an in-line strip center of approximately 26,471 square feet. The property is situated on a site area of approximately 3.36 acres. Constructed in 1988, the building features masonry construction. There are 198 surface parking spaces available, providing a parking ratio of 6.8 spaces per 1,000 square feet. The property is zoned B-2, General Business District. The location benefits from a traffic count of 17,090 vehicles per day at Wise Road and Spring Cove Drive. The current occupancy rate is 93%. The property is equipped with 21 roof-mounted HVAC units, with tenants responsible for maintenance. Signage includes a pylon sign along Wise Road.
    Location Intelligence

    Current Use by Public Records

    Cove Shopping Plaza Business Center

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.0936893
    Latitude
    42.005109

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    FAQs

    What type of property is this?
    Strip mall - Multi-tenant retail center on 3.36 acres in Schaumburg, Illinois.
    Where is this strip mall located?
    The property is located at 506-604 W Wise Rd Schaumburg, IL.
    What are key features of this property?
    This property features: - High Occupancy Rate: 93% current occupancy indicates strong tenant demand and immediate income potential.; - Sizeable Retail Center: 29,043 rentable square feet provides substantial space.; - Favorable Parking Ratio: 198 surface spaces (6.8 : 1,000 Sq. Ft.) offers ample parking for customers.
    (630) 886-3069
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    506-604 W Wise Rd Schaumburg, IL 60193
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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
    506-604 W Wise Rd Schaumburg, IL 60193
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