Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Development-Ready Land in Algonquin, IL Title is generated by Realmo AI

    2220 Wendt St, Algonquin, IL

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    29.07 acre site ideal for development in Algonquin.

    Type:LAND
    Lot size:
    2.89 Acres
    Added:
    May 28, 2024
    Days on Market:
    739
    Last Refresh:
    May 19 at 10:13 pm

    Property Features for 2220 Wendt St

    General Information

    Standard status
    Active
    Lot size
    2.89 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Jim Pietrarosso
    Jim Pietrarosso

    Listing agent Jim Pietrarosso

    Listing office Brown Commercial Group

    Listing date May 28, 2024

    Source Moodyscre

    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 Brown Commercial Group

    HighLights

    • Fully improved and development‑ready site.
    • Divisible site suitable for users from 10,000 SF up to 150,000 SF.
    • Potential to build up to 425,000 SF over 4 buildings.
    • Ideal location for servicing businesses in North Point and Elgin's Northwest Corporate Park.
    • Zoned PUD (BP‑Business Park, ORD‑Office/Research and Development, Industrial).
    • BTS (Build to Suit) or bring your own builder options.

    Overview

    This 29.07-acre site is fully improved and development-ready, divisible for various uses. It is suitable for spec developers with sites that accommodate users from 10,000 to 150,000 square feet. The location is ideal for companies servicing businesses in North Point and Elgin's Northwest Corporate Park. It is possible to construct up to 425,000 square feet across four buildings. The zoning is PUD (Planned Unit Development) which includes BP (Business Park), ORD (Office/Research and Development), and Industrial uses. The City of Algonquin is business-friendly. Build-to-suit options are available, or bring your own builder. An additional 17.99 acre site is also available and divisible.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial land

    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
    -88.3288
    Latitude
    42.1896

    Nearby Similar for Sale

    • $425,000

      Fully Leased Office Condo

      Office condo in Randall Road corridor, fully leased and remodeled.
      265 Stonegate Road, Algonquin, IL 60102
      View Details
    • $750,000

      Vintage Algonquin Commercial Space

      Historic 1893 building with versatile commercial space in Algonquin.
      302 S Main Street, Algonquin, IL 60102
      View Details
    • $120,000

      Algonquin Lot with Mature Trees

      Private 0.89-acre lot with utilities in a secluded setting.
      108 Arrowhead Drive, Algonquin, IL 60102
      View Details
    • $5,916,250
      6,150 SF

      New Retail Property in Algonquin

      New two-tenant retail property with long-term leases.
      1721 S Randall Rd, Algonquin, IL 60102
      View Details
    • $160,000

      Algonquin Office Condo For Sale

      Professional office condo in Algonquin, currently leased through 3/31/2026.
      280 Stonegate Road, Algonquin, IL 60102
      View Details
    • $250,000

      Turn-Key Pizzeria in Algonquin, IL

      Fully operational Neapolitan pizzeria for sale in downtown Algonquin.
      123 S Main Street, Algonquin, IL 60102
      View Details
    • $3,000

      Downtown Algonquin Commercial Space Available

      Commercial space in downtown Algonquin's historic district, suitable for retail.
      302 S Main Street, Algonquin, IL 60102
      View Details
    • Contact for pricing
      7,554 SF

      Restaurant in Algonquin Commons

      Family-owned breakfast and lunch restaurant in Algonquin, Illinois.
      2561 County Line Rd, Algonquin, IL 60102
      View Details
    • Contact for pricing
      55,161 SF

      Algonquin Net Leased Property

      Long-term net leased property 100% leased to Hobby Lobby.
      2360 S. Randall Road, Algonquin, IL 60102
      View Details
    • $258,500
      1,860 SF

      Medical Condos For Sale

      High-end, income-producing medical condos with 10.25 cap rate.
      1447 Merchant Drive, Algonquin, IL 60102
      View Details
    • $2,350,000
      10,500 SF

      Former Restaurant in Prime Location

      Versatile space suitable for restaurant, retail, or healthcare.
      1591 Randall Rd., Algonquin, IL
      View Details
    • $173,900
      1,339 SF

      Medical Testing Center for Sale

      Turn-key medical testing center in Algonquin, Illinois.
      1449 Merchant Drive, Algonquin, IL 60102
      View Details

    FAQs

    What type of property is this?
    Commercial land - 29.07 acre site ideal for development in Algonquin.
    Where is this commercial land located?
    The property is located at 2220 Wendt St Algonquin, IL.
    What are key features of this property?
    This property features: Fully improved and development‑ready site.; Divisible site suitable for users from 10,000 SF up to 150,000 SF.; Potential to build up to 425,000 SF over 4 buildings.
    (847) 758-9200 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jim Pietrarosso
    Jim Pietrarosso
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    2220 Wendt St, Algonquin, IL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!