Listing Agency: Chicagoland Commercial Real Estate

Listed By: Randy Olczyk · License #IL 471018001 Show Phone

Source: Crexi

Added: Sep 11 Changed: Nov 1 Last Checked: Nov 1 at 4:10AM

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Investment Insights

Based on property information with market context.

Automotive business opportunity offered for sale at 2161 N Rand Rd in Palatine, Illinois. The property information identifies a 1,500-square-foot facility associated with the business.

Key Highlights

• Automotive business offered for sale
• 1,500‑square‑foot facility
• Located at 2161 N Rand Rd, Palatine, IL 60074

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,820

Cap Rate

3.50%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$416,400 $416.4K

Cap Rate 7%

$297,429 $297.4K

Cap Rate 9%

$231,333 $231.3K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,500 SF

Gross rent

$32.4K $21.60/SF

− Vacancy

−$2.7K −$1.77/SF

EGI

$29.7K $19.83/SF

− OpEx

−$8.9K −$5.95/SF

NOI

$20.8K $13.88/SF

Area

Cook County, IL

Vacancy

8.20%

Lease Rate

$21.60 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$416,400

Cap Rate 7%

$297,429

Cap Rate 9%

$231,333

Alternative Uses

Best Use

Retail

$297.4K

$260.3K – $347.0K (±1% cap)

NOI $20,820 @ 7.0% cap · market cap 3.50%

Second Best

Industrial

$92.2K

$80.7K – $107.6K (±1% cap)

NOI $6,457 @ 7.0% cap · market cap 1.09%

Theoretical Best

Office A

$517.9K

$453.2K – $604.2K (±1% cap)

NOI $36,252 @ 7.0% cap · market cap 6.09%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Sawan Auto Sales ... Car Dealership Ivan'sAutoDetailing Car Wash

Suggested Use

Top Pick Law Firm Dental Office Accounting Firm (Bike/Boat/Book/etc) Store Hair Salon Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Turnkey business

Opportunity

Location Intelligence

Trade Area within ½ mile

365

Businesses Nearby

66k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 50% Groceries 32% Dining 18%

Butera Market Groceries

20,765 visits/mo 0.3 miles

Shell Shops & Services

18,084 visits/mo 0.4 miles

Starbucks Dining

11,796 visits/mo 0.2 miles

Arlington Toyota Shops & Services

8,925 visits/mo 0.2 miles

Enterprise Rent-A-Car Shops & Services

1,889 visits/mo 0.2 miles

Demographics for 60074, IL

37,705

Population

14,953

Households

2.5

Avg Household Size

38

Median Age

42%

College-Educated

85%

High-School Grad

7.1 sq mi

ZIP Area

5,311

Density / Sq Mi

$81,911

Median Household Income

$45,217

Median Earnings

$1,429

Median Rent

$307,800

Median Home Value

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Chicago Illinois — 751 E Rand Grove Ln, Palatine, IL 60074
• Mid-States Truck Leasing Co — 2120 N Rand Rd, Palatine, IL 60074
• U-Haul Neighborhood Dealer — 2088 N Rand Rd, Palatine, IL 60074
• Enterprise Rent-A-Car — 2234 N Rand Rd, Palatine, IL 60074
• Enterprise Truck Rental — 2234 N Rand Rd, Palatine, IL 60074

Frequently Asked Questions

What type of property is this?

Automotive property - Automotive business offered for sale with a dedicated commercial facility.

Where is this automotive property located?

The property is located at 2161 N Rand Rd Palatine, IL.

What is the asking price?

The asking price for this property is $595,000.

What are key features of this property?

This property features: Automotive business offered for sale; 1,500‑square‑foot facility; Located at 2161 N Rand Rd, Palatine, IL 60074