Fully Leased Shopping
For Sale
$5,500,000
2799 Algonquin Rd 2701, Algonquin, IL 60102
Established retail property with multiple occupants, on-site parking, illuminated LED signage, and several access points.
Property Size29,000 SF
Price / SF$189.66
Days on Market767
Property Features for 2799 Algonquin Rd 2701
General Information
Standard status
Active
Size
29,000 SF
Property subtype
Commercial
Occupancy
100%
Additional Details
Cap Rate
6.03%
Road Access
Yes
Amenities
Illuminated LED signage
Building Details
Year Built
2005
Tenancy
Multi
Listing Agency:
Berkshire Hathaway HomeServices Starck Real Estate
Listed By:
Richard Virgl (815) 459-5900 · License #471018796
(815) 900-9410
Source:
Searchillinoishomesforsale
Added: Sep 25, 2024
Changed: Oct 25
Last Checked: Oct 30 at 3:11PM
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 Berkshire Hathaway HomeServices Starck Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 29,000-square-foot shopping center was built in 2005 and is fully leased. Property features include illuminated LED signage, on-site parking, and multiple access points. Current occupants include Illinois Bone & Joint, Allstate Insurance, Code Ninjas, and CD Price One Cleaners, with several tenants reported to have longer-term leases.
Located at 2799 Algonquin Rd in Algonquin, Illinois, the center sits along a major shopping corridor with high traffic counts and strong visibility. A 6.03 cap rate is reported, and a rent roll is available subject to a nondisclosure agreement. The offering memorandum is included with the additional property information.
Located at 2799 Algonquin Rd in Algonquin, Illinois, the center sits along a major shopping corridor with high traffic counts and strong visibility. A 6.03 cap rate is reported, and a rent roll is available subject to a nondisclosure agreement. The offering memorandum is included with the additional property information.
Key Highlights
- 29,000‑square‑foot shopping center built in 2005
- Fully leased with a reported 6.03 cap rate
- Current occupants include Illinois Bone & Joint, Allstate Insurance, Code Ninjas, and CD Price One Cleaners
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$279,836
Cap Rate
5.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,596,720
$5.6M
Cap Rate 7%
$3,997,657
$4.0M
Cap Rate 9%
$3,109,289
$3.1M
Market Conditions
NOI Build-Up for 29,000 SF
Gross rent
$435.0K $15.00/SF
− Vacancy
−$35.2K −$1.22/SF
EGI
$399.8K $13.79/SF
− OpEx
−$119.9K −$4.14/SF
NOI
$279.8K $9.65/SF
Area
McHenry County, IL
Vacancy
8.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,596,720
Cap Rate 7%
$3,997,657
Cap Rate 9%
$3,109,289
Alternative Uses
Best Use
Retail
$4.00M
$3.50M – $4.66M
NOI $279,836 @ 7.0% cap · market cap 5.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$10.01M
$8.76M – $11.68M
NOI $700,866 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road 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 Retail in Midwest region
Similar Off Market Nearby
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- Centre at Lake in the Hills — 289 N Randall Rd, Lake in the Hills, IL 60156
Frequently Asked Questions
What type of property is this?
Shopping center - Established retail property with multiple occupants, on-site parking, illuminated LED signage, and several access points.
Where is this shopping center located?
The property is located at 2799 Algonquin Rd 2701 Algonquin, IL.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 29,000‑square‑foot shopping center built in 2005; Fully leased with a reported 6.03 cap rate; Current occupants include Illinois Bone & Joint, Allstate Insurance, Code Ninjas, and CD Price One Cleaners
