Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail Space in Lake Zurich Title is generated by Realmo AI

    41 S Rand Rd, Lake Zurich, IL 60047

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Retail space in Lakeview Plaza with high traffic and visibility.

    Type:Retail
    Added:
    Dec 6, 2024
    Days on Market:
    543
    Last Refresh:
    May 12 at 9:43 pm

    Property Features for 41 S Rand Rd

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1988

    Spaces For Lease

    at 41 S Rand Rd Contact us

    Unit 69 $23/Mo

    Size
    1,260 SF
    Type
    Retail
    Second Generation Take-out Restaurant | 8' Hood | Walk-in
    Contact us

    Unit 95 $20/Mo

    Size
    1,261 SF
    Type
    Retail
    Vanilla Box | In-line | Street-facing | Ideal for retail or professional uses
    Contact us

    Unit 93 $20/Mo

    Size
    1,677 SF
    Type
    Retail
    Vanilla Box | In-line | Street-facing | Ideal for retail or professional uses
    Contact us

    We can help!

    Listing Contact
    Carlo Rossi

    Listing agent Carlo Rossi License #IL 471.011314

    Listing office Rossi Real Estate

    Listing date Dec 6, 2024

    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 Rossi Real Estate

    HighLights

    • High traffic location with 35,000 vehicles per day.
    • Established retail corridor on S Rand Road.
    • Strong tenant mix: NAPA Auto Parts, Cilantro Taco Grill, Gravitea Boba, All Ways Healthy Natural Food, First American Bank, and Bellalukes.
    • Proximity to Paulus Park.
    • Quick access to surrounding neighborhoods.
    • Near major retail anchors: Jewel‑Osco, Target, and Costco.

    Overview

    Lakeview Plaza is located on S Rand Road in Lake Zurich, IL, across from Paulus Park. The plaza has an established retail corridor with traffic counts of 35,000 vehicles per day. Current tenants include NAPA Auto Parts, Cilantro Taco Grill, Gravitea Boba, and All Ways Healthy Natural Food. Outlots include First American Bank and Bellalukes. The location is near Jewel-Osco, Target, and Costco.
    Location Intelligence

    Current Use by Public Records

    Shopping centers

    Suggested Use

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

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

    Similar Places Nearby

    • Village Square — Lake Zurich, IL 60047
    • Bank One Plaza Shopping Center — Lake Zurich, IL 60047
    • Coin Time Bitcoin ATM — 592 W Main St, Lake Zurich, IL 60047
    • Coinstar — 485 Ela Rd, Lake Zurich, IL 60047
    • Salon V'co — 515 Ela Rd, Lake Zurich, IL 60047

    Location Insight

    • Map
    • Local Demand
    City
    Lake Zurich
    County
    Cook
    State
    Illinois
    Longitude
    -88.112055
    Latitude
    42.198069

    Nearby Similar for Lease

    • $19 SF/Yr
      1,250 SF

      Professional Office/Medical Suite for Lease

      Well-appointed office/medical suite in Lake Zurich's desirable corridor.
      290 N Rand Road, Lake Zurich, IL 60047
      View Details
    • $10 SF/Yr
      3,000 SF

      Industrial Flex Office/Warehouse Space

      Industrial flex space with drive-in door and loading docks.
      1050 Ensell Road #158, Lake Zurich, IL 60047
      View Details
    • Contact for pricing

      Commercial Space in Lake Zurich

      Commercial property available for rent in Lake Zurich, Illinois.
      199-201 S Rand Road, Lake Zurich, IL 60047
      View Details
    • Contact for pricing

      Office Space in Lake Zurich

      Double office space with private entrance and ample parking.
      83 W Main Street, Lake Zurich, IL 60047
      View Details
    • Contact for pricing

      Downtown Lake Zurich Office Space

      Single office space for rent in downtown Lake Zurich.
      83 W Main Street, Lake Zurich, IL 60047
      View Details
    • Contact for pricing

      Commercial Space in Lake Zurich

      Commercial space for rent in Lake Zurich, Illinois.
      207 S Rand Road, Lake Zurich, IL 60047
      View Details
    • $20 SF/Yr

      Retail Space in Lake Zurich

      Street-facing vanilla box ideal for retail or professional uses.
      93 S Rand Road, Lake Zurich, IL 60047
      View Details
    • Contact for pricing

      Commercial Space, Lake Zurich, IL

      Commercial space available for rent in Lake Zurich, Illinois.
      890 S Rand Road, Lake Zurich, IL 60047
      View Details
    • $14 SF/Yr
      1,560 SF

      Prime Retail Space on Rand

      Retail space on Rand Road with high visibility and access.
      890 S Rand Rd, Lake Zurich, IL 60047
      View Details
    • Contact for pricing
      2,500 SF

      Lake Zurich Retail Space Available

      Retail space in a major Lake Zurich retail hub.
      479 Ela Rd, Lake Zurich, IL
      View Details
    • Contact for pricing

      Lake Zurich Industrial Flex Condo

      Industrial flex condo with drive-in door and shared docks.
      1050 Ensell Road, Lake Zurich, IL 60047
      View Details
    • $7 SF/Yr

      Functional Free-Standing Food Grade Building

      Functional free-standing food grade building available for rent.
      635 Oakwood Dr, Lake Zurich, IL 60047
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail space in Lakeview Plaza with high traffic and visibility.
    Where is this shopping center located?
    The property is located at 41 S Rand Rd Lake Zurich, IL.
    What is the lease rate?
    The lease rate is $20 SF/Yr.
    What are key features of this property?
    This property features: High traffic location with 35,000 vehicles per day.; Established retail corridor on S Rand Road.; Strong tenant mix: NAPA Auto Parts, Cilantro Taco Grill, Gravitea Boba, All Ways Healthy Natural Food, First American Bank, and Bellalukes.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Carlo Rossi
    Real Estate License ID: IL 471.011314
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    41 S Rand Rd, Lake Zurich, IL 60047
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!