Medical Office Building with Physical Therapy
For Sale
$692,410
1140 E Algonquin Rd, Algonquin, IL 60102
Fully occupied facility with built-in annual rental increases and a long-standing operator.
Property Size4,433 SF
Price / SF$156.19
Days on Market113
Property Features for 1140 E Algonquin Rd
General Information
Standard status
Active
Size
4,433 SF
Property subtype
Commercial
Occupancy
100%
Lease Term
± 4 Years
Additional Details
Highway Access
Yes
Building Details
Building Size
4,433 SF
Tenancy
Single
Listing Agency:
Matthews Real Estate Investment Services | Chicago
Listed By:
Jacob Friedman · License #475169452 (IL)
(773) 446-7583
Source:
Matthews
Added: Jun 16
Changed: Sep 5
Last Checked: Oct 5 at 3:12PM
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 Matthews Real Estate Investment Services | Chicago
Investment Insights
Based on property information with market context.
This 4,433-square-foot medical office building is fully occupied by Diamond Physical Therapy, an established outpatient physical therapy provider. The tenancy includes built-in annual rental increases, and the practice has a long operating history serving patients in the northwest Chicago suburbs.
The property is located at 1140 East Algonquin Road in Algonquin, Illinois, along a high-traffic corridor near residential communities and retail amenities. Access to Interstate 90, Route 31, and Randall Road supports connectivity throughout the surrounding suburban area. The village is situated along the Fox River and has continued commercial development and expanding healthcare demand.
The property is located at 1140 East Algonquin Road in Algonquin, Illinois, along a high-traffic corridor near residential communities and retail amenities. Access to Interstate 90, Route 31, and Randall Road supports connectivity throughout the surrounding suburban area. The village is situated along the Fox River and has continued commercial development and expanding healthcare demand.
Key Highlights
- 4,433‑square‑foot medical office building
- Fully occupied by Diamond Physical Therapy
- Built‑in annual rental increases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$61,124
Cap Rate
8.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,222,480
$1.2M
Cap Rate 7%
$873,200
$873.2K
Cap Rate 9%
$679,156
$679.2K
Market Conditions
NOI Build-Up for 4,433 SF
Gross rent
$108.5K $24.48/SF
− Vacancy
−$27.0K −$6.10/SF
EGI
$81.5K $18.38/SF
− OpEx
−$20.4K −$4.60/SF
NOI
$61.1K $13.79/SF
Area
McHenry County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,222,480
Cap Rate 7%
$873,200
Cap Rate 9%
$679,156
Alternative Uses
Best Use
Office B
$873.2K
$764.1K – $1.02M
NOI $61,124 @ 7.0% cap · market cap 8.83%
Second Best
Healthcare Medical
$857.0K
$749.9K – $999.8K
NOI $59,989 @ 7.0% cap · market cap 8.66%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,136 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60102, IL
31,959
Population
12,076
Households
2.6
Avg Household Size
42
Median Age
43%
College-Educated
95%
High-School Grad
15.8 sq mi
ZIP Area
2,023
Density / Sq Mi
$128,070
Median Household Income
$59,484
Median Earnings
$1,826
Median Rent
$320,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully occupied facility with built-in annual rental increases and a long-standing operator.
Where is this medical office space located?
The property is located at 1140 E Algonquin Rd Algonquin, IL.
What is the asking price?
The asking price for this property is $692,410.
What are key features of this property?
This property features: 4,433‑square‑foot medical office building; Fully occupied by Diamond Physical Therapy; Built‑in annual rental increases
