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    Stabilized Shopping Center For Sale Title is generated by Realmo AI

    2300-56 West Higgins Road, Hoffman Estates, IL 60169

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    For Sale
    $9,375,000

    Well-maintained shopping center with long-term tenants and recent improvements.

    Type:Retail
    Property size:
    101,769 SF
    Lot size:
    11.01 Acres
    Price / SF:
    $92/SF
    Added:
    Feb 23, 2026
    Days on Market:
    103
    Last Refresh:
    Feb 23 at 9:00 pm

    Property Features for 2300-56 West Higgins Road

    General Information

    Standard status
    Active
    Size
    101,769 SF
    Lot size
    11.01 Acres
    Property subtype
    Retail

    Building Details

    Year Built
    1975

    We can help!

    Listing Contact
    Wayne Caplan
    Wayne Caplan

    Listing agent Wayne Caplan License #475132248

    Listing office SVN | Chicago - Corporate

    Listing date Feb 23, 2026

    Source Svnchicago

    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 SVN | Chicago - Corporate

    HighLights

    • Stabilized 101,769 SF neighborhood shopping center with a history of strong occupancy and internet‑proof businesses.
    • Weighted Average Lease Term (WALT) of 10.82 years indicates long‑term tenant commitment.
    • Over $7 million in recent infrastructure improvements, including new facade, landscaping, HVAC, LED lights, and roof.
    • Strategic location on high‑traffic Higgins Road (over 30,000 vehicles daily) and near I‑90, office parks, and a medical center.
    • Strong tenant mix with long‑term tenants and recent additions, including Poplar Creek Bowl's $2 million expansion and new restaurants.
    • Upside potential through two vacant spaces (5,022 SF) and below‑market rents on existing tenants.

    Overview

    Barrington Square Town Center is a 101,769 square foot neighborhood shopping center located in Hoffman Estates, Illinois, situated on an 11.01-acre site. The property features a mix of long-term tenants, including Advance Pre-School, Garibaldi’s Restaurant, Gigi’s Playhouse, and Poplar Creek Bowl, which recently expanded and invested over $2 million in improvements, including a large catering facility. Newer tenants include Kritunga Indian Restaurant and the 9,000 square foot Playroom Cafe Social. The center benefits from internet-proof businesses and NNN leases. Infrastructure improvements include a new facade, landscaping, curbing, detention, new HVAC, LED lights, and a new roof. There is upside potential through two vacant spaces totaling 5,022 square feet and below-market rents on several existing tenants. The property features highly visible pylon signage and is adjacent to office parks, retailers, and the Ascension Amita Health Medical Center campus. Outlot co-tenants include a newly developed McDonald’s, 7-Eleven, Popeyes, and Buona Beef prototypes. Located on Higgins Road with a daily vehicle count over 30,000, the property is a quarter mile from the I-90 interchange at Barrington Road and adjacent to the planned Grand Reserve of Hoffman Estates, a 330-unit luxury apartment development, and across from the 300-unit Seasons of Hoffman Estates apartments. A 52,905 square foot outlot is also available.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    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.

    Similar Places Nearby

    • Poplar Commons Shopping Center — 2306-2332 Hassell Rd, Hoffman Estates, IL 60169
    • Barrington Square Mall Shopping Center — 2302-2356 W Higgins Rd, Hoffman Estates, IL 60169
    • Coin Cloud Bitcoin ATM — 2332 Hassell Rd, Hoffman Estates, IL 60169

    Location Insight

    • Map
    • Local Demand
    City
    Hoffman Estates
    County
    Cook
    State
    Illinois
    Longitude
    -88.1357898
    Latitude
    42.0590987

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    FAQs

    What type of property is this?
    Shopping center - Well-maintained shopping center with long-term tenants and recent improvements.
    Where is this shopping center located?
    The property is located at 2300-56 West Higgins Road Hoffman Estates, IL.
    What is the asking price?
    The asking price for this property is $9,375,000.
    What are key features of this property?
    This property features: Stabilized 101,769 SF neighborhood shopping center with a history of strong occupancy and internet‑proof businesses.; Weighted Average Lease Term (WALT) of 10.82 years indicates long‑term tenant commitment.; Over $7 million in recent infrastructure improvements, including new facade, landscaping, HVAC, LED lights, and roof.
    (312) 676-1866
    We can help!
    Listing Contact
    Wayne Caplan
    Wayne Caplan
    Real Estate License ID: 475132248
    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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    2300-56 West Higgins Road | Hoffman Estates, IL 60169
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