Multi-Tenant Shopping
For Sale
$3,749,000
Pending
2306 Hassell Rd, Hoffman Estates, IL 60169
B-2-zoned retail center with established daily-needs tenancy, recent capital improvements, and convenient access to the I-90 interchange.
Property Size20,400 SF
Lot Size2.70 Acres
Days on Market505
Property Features for 2306 Hassell Rd
General Information
Standard status
Pending
Size
20,400 SF
Total Parking Spaces
111
Lot size
2.70 Acres
Property subtype
Commercial
Zoning
B-2
Occupancy
94%
Site & Location
Anchor Co-Tenants
7-Eleven, State Farm
Highway Access
Yes
Additional Details
Cap Rate
7.97%
Building Details
Year Built
1978
Tenancy
Multi
Listing Agency:
Strauss Realty Ltd
(773) 736-3600
Listed By:
Craig Wolf · License #475163046
Source:
Searchillinoishomesforsale
Added: Apr 15, 2025
Changed: Aug 31
Last Checked: Aug 31 at 5:24PM
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 Strauss Realty Ltd
Investment Insights
Based on property information with market context.
Poplar Commons is a multi-tenant shopping center on 2.7 acres with 11 units and 111 parking spaces. The tenant roster includes 7-Eleven, State Farm, and a laundromat, providing a mix of convenience-oriented retail services. Current occupancy is 93.8%, with one additional unit under LOI. The property carries B-2 zoning and was built in 1978.
Recent work includes complete parking lot restoration, upgraded lighting throughout the property, and a new rooftop HVAC system installed in 2023 with a 5-year warranty. The center is positioned near the I-90 Barrington Road interchange in the Golden Corridor, across from a large townhome subdivision and near hotels, residential complexes, national retailers, and major employers. The offering reflects a 7.97% Cap Rate, with a 2026 pro forma NOI of $303,988 and an 8.11% Cap Rate.
Recent work includes complete parking lot restoration, upgraded lighting throughout the property, and a new rooftop HVAC system installed in 2023 with a 5-year warranty. The center is positioned near the I-90 Barrington Road interchange in the Golden Corridor, across from a large townhome subdivision and near hotels, residential complexes, national retailers, and major employers. The offering reflects a 7.97% Cap Rate, with a 2026 pro forma NOI of $303,988 and an 8.11% Cap Rate.
Key Highlights
- 2.7‑acre shopping center with 11 units and 111 parking spaces
- 93.8% leased; one unit is under LOI
- Anchored by 7‑Eleven and State Farm; includes a laundromat
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$283,155
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.55%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,663,100
$5.7M
Cap Rate 7%
$4,045,071
$4.0M
Cap Rate 9%
$3,146,167
$3.1M
Market Conditions
NOI Build-Up for 20,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$440.6K $21.60/SF
− Vacancy
−$36.1K −$1.77/SF
EGI
$404.5K $19.83/SF
− OpEx
−$121.4K −$5.95/SF
NOI
$283.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,663,100
Cap Rate 7%
$4,045,071
Cap Rate 9%
$3,146,167
Alternative Uses
Best Use
Retail
$4.05M
$3.54M – $4.72M
NOI $283,155 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.04M
$6.16M – $8.22M
NOI $493,023 @ 7.0% cap · market cap 13.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
93.8%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,522
Businesses Nearby
3k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 64%
Shops & Services 36%
Red Roof Inn
Hotels & Casinos
1,678 visits/mo
0.5 miles
U-Haul
Shops & Services
932 visits/mo
0.5 miles
Demographics for 60169, IL
34,248
Population
13,114
Households
2.6
Avg Household Size
38
Median Age
39%
College-Educated
89%
High-School Grad
7.7 sq mi
ZIP Area
4,448
Density / Sq Mi
$92,399
Median Household Income
$48,134
Median Earnings
$1,694
Median Rent
$292,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Barrington Square Mall Shopping Center — 2302-2356 W Higgins Rd, Hoffman Estates, IL 60169
- Poplar Commons Shopping Center — 2306-2332 Hassell Rd, Hoffman Estates, IL 60169
- Coin Cloud Bitcoin ATM — 2332 Hassell Rd, Hoffman Estates, IL 60169
Frequently Asked Questions
What type of property is this?
Shopping center - B-2-zoned retail center with established daily-needs tenancy, recent capital improvements, and convenient access to the I-90 interchange.
Where is this shopping center located?
The property is located at 2306 Hassell Rd Hoffman Estates, IL.
What is the asking price?
The asking price for this property is $3,749,000.
What are key features of this property?
This property features: 2.7‑acre shopping center with 11 units and 111 parking spaces; 93.8% leased; one unit is under LOI; Anchored by 7‑Eleven and State Farm; includes a laundromat
