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    Rolling Meadows Office and Medical Title is generated by Realmo AI

    3701 W Algonquin Rd, Rolling Meadows, IL 60008

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    Modern office facility accommodating business and medical practices.

    Type:Office
    Added:
    Sep 2, 2021
    Days on Market:
    1738
    Last Refresh:
    May 12 at 9:05 pm

    Property Features for 3701 W Algonquin Rd

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    1980

    Spaces For Lease

    at 3701 W Algonquin Rd Contact us

    Suite 200 $18/Mo

    Size
    3,067 SF
    Type
    Office
    Corner suite featuring a large conference room, one interior office, an IT/storage...
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    Contact us

    Suite 240 $18/Mo

    Size
    1,484 SF
    Type
    Office
    Contact us

    Suite 250 $18/Mo

    Size
    1,794 SF
    Type
    Office
    Suite features three offices, a conference room, storage area, and a coat closet.
    Contact us

    Suite 270 $18/Mo

    Size
    7,952 SF
    Type
    Office
    Suite includes six offices, one conference room, a training room, storage and IT...
    show more
    Contact us

    Suite 320 $18/Mo

    Size
    2,789 SF
    Type
    Office
    Remodeled suite featuring four offices, a conference room, an open kitchen concept,...
    show more
    Contact us

    Suite 400 $18/Mo

    Size
    13,349 SF
    Type
    Office
    The suite features Elevator ID, a reception/waiting area, three conference rooms,...
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    Contact us

    Suite 470 $18/Mo

    Size
    3,343 SF
    Type
    Office
    The suite includes two offices, a conference room with glass walls, a kitchen, a...
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    Contact us

    Suite 570 $18/Mo

    Size
    2,848 SF
    Type
    Office
    The suite consists of a spacious open work area, five offices, and a kitchen.
    Contact us

    Suite 600 $18/Mo

    Size
    2,759 SF
    Type
    Office
    Suite includes three offices, one larger office, a conference room, a kitchen, a...
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    Contact us

    Suite 870 $18/Mo

    Size
    3,530 SF
    Type
    Office
    Suite features four offices with windows, one interior office or storage/IT room,...
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    Contact us
    Show more

    We can help!

    Listing Contact
    Solomon Weiner

    Listing agent Solomon Weiner License #Cook

    Listing office Marc Realty

    Listing date Sep 2, 2021

    Source Crexi

    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 Marc Realty

    HighLights

    • Modern office facility accommodating both traditional business offices and fully equipped medical practices.
    • Convenient location with easy access to Algonquin Road and the I‑90/Illinois Route 53 interchange.
    • Proximity to major attractions including the Schaumburg Convention Center, Topgolf, and Woodfield Mall.
    • State‑of‑the‑art conference and training room available for tenant use.
    • Wi‑Fi‑enabled tenant lounge for relaxation and informal meetings.
    • Ample parking available for tenants and visitors.

    Overview

    The 3701 Algonquin Building is a modern office facility located in Rolling Meadows, a northwest suburb of Chicago, Illinois. It accommodates both traditional business offices and fully equipped healthcare suites. The property features a conference and training room, a Wi-Fi-enabled tenant lounge, grab-and-go vending machines, and ample parking. The building is easily accessible from Algonquin Road and the I-90/Illinois Route 53 interchange. It is also located minutes away from the Schaumburg Convention Center, Topgolf, Woodfield Mall, and various shopping, restaurant, and hospitality destinations.
    Property Profile Location Intelligence

    Current Use by Public Records

    PEI-Genesis, Inc. - Illinois ... Industrial Manufacturer StoneRiver, Inc (Bike/Boat/Book/etc) Store Vital Systems Corporate Office Angelika Siatka NMLS ... Loan Service Gary Gordon MD Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

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    Location Insight

    • Map
    • Local Demand
    City
    Rolling Meadows
    County
    Cook
    State
    Illinois
    Longitude
    -88.0258656
    Latitude
    42.0615234

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    FAQs

    What type of property is this?
    Medical Office Space - Modern office facility accommodating business and medical practices.
    Where is this medical office space located?
    The property is located at 3701 W Algonquin Rd Rolling Meadows, IL.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: Modern office facility accommodating both traditional business offices and fully equipped medical practices.; Convenient location with easy access to Algonquin Road and the I‑90/Illinois Route 53 interchange.; Proximity to major attractions including the Schaumburg Convention Center, Topgolf, and Woodfield Mall.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Solomon Weiner
    Real Estate License ID: Cook
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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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