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    3215 Algonquin Road, Rolling Meadows, IL 60008

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    COMMERCIAL - Rolling Meadows, IL

    Type:Office
    Lot size:
    1.70 Acres
    Added:
    Nov 7, 2023
    Days on Market:
    926
    Last Refresh:
    May 21 at 10:06 pm

    Property Features for 3215 Algonquin Road

    General Information

    Property type
    Commercial Lease
    Property subtype
    Office
    Zoning
    OFFIC
    Standard status
    Active
    Lot size
    1.70 Acres

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1970
    Floors in Building
    2
    Number of units
    20
    Flooring type
    Marble, Carpet
    Building materials
    Brick
    Roof type
    Rubber

    We can help!

    Listing Contact
    Basel Tarabein
    Basel Tarabein

    Listing agent Basel Tarabein License #IL 471008459

    Listing office RE/MAX At Home 3215 Algonquin Road, ROLLING MEADOWS, IL

    Listing date Nov 7, 2023

    MLS# 11925929

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Convenient location with easy access to interstates 90, 290, and 355, Route 53, and O'Hare International Airport.
    • Full‑service lease includes all utilities, phone services, internet access, parking, and professional cleaning services.
    • Access to meeting rooms, training rooms, and two fully stocked kitchens.
    • Flexible lease terms with a minimum of six months and month‑to‑month extensions.
    • Front desk receptionist available six days a week.
    • Warehouse space up to 12,000 square feet available for lease.

    Overview

    Executive office spaces are available for lease, offering a professional working environment. The minimum lease term is six months, with the option to extend on a month-to-month basis. Full-service leases are available for offices of various sizes, starting from 12x10 and larger. The lease includes all utilities, phone services, internet access, parking, and professional cleaning services twice a week. Tenants have access to meeting rooms, training rooms, and two fully stocked kitchens with soft drinks. A front desk receptionist is available six days a week. The offices are conveniently located with easy access to interstates 90, 290, and 355, Route 53, and O'Hare International Airport. Current tenants represent diverse industries, including attorneys, mortgage companies, insurance providers, construction companies, real estate agencies, and title companies. Additionally, up to 12,000 square feet of warehouse space is available for lease at the back of the building. The property is located in Rolling Meadows, IL, in Cook County. The lot size is 1.7 acres. The zoning is OFFIC.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Curtis Wideman Real Estate Agency Brian T. Wolf Real Estate Agency Kali Triunfol, RE/MAX ... Real Estate Agency RE/MAX At Home: Angela ... Real Estate Agency RE/MAX : Vik Sagar Real Estate Agency

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rolling Meadows
    County
    Cook
    State
    Illinois
    Longitude
    -88.0171775
    Latitude
    42.0597808

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    FAQs

    What type of property is this?
    Serviced office - Executive office spaces for lease with flexible terms.
    Where is this serviced office located?
    The property is located at 3215 Algonquin Road Rolling Meadows, IL.
    What are key features of this property?
    This property features: Convenient location with easy access to interstates 90, 290, and 355, Route 53, and O'Hare International Airport.; Full‑service lease includes all utilities, phone services, internet access, parking, and professional cleaning services.; Access to meeting rooms, training rooms, and two fully stocked kitchens.
    (847) 255-1000
    We can help!
    Listing Contact
    Basel Tarabein
    Basel Tarabein
    Real Estate License ID: IL 471008459
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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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