Schaumburg Retail Center For
For Sale
Contact for pricing
506-604 W Wise Rd, Schaumburg, IL
Multi-tenant retail center on 3.36 acres in Schaumburg, Illinois.
Property Size29,621 SF
Lot Size3.53 Acres
Days on Market1043
Property Features for 506-604 W Wise Rd
General Information
Standard status
Active
Size
29,621 SF
Lot size
3.53 Acres
Property subtype
RETAIL
Listing Agency:
Cawley Chicago
(630) 886-3069
Listed By:
Rawly Lantz, SIOR
(630) 886-3069
Source:
Moodyscre
Added: Sep 22, 2023
Changed: Jul 10
Last Checked: Jul 30 at 4:26AM
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 Cawley Chicago
Investment Insights
Based on property information with market context.
Cove Plaza, located at 506-604 West Wise Road in Schaumburg, Illinois, is a multi-tenant retail center available for purchase. The property features a total size of approximately 29,621 square feet, including an out-lot restaurant of approximately 3,150 square feet and an in-line strip center of approximately 26,471 square feet. The property is situated on a site area of approximately 3.36 acres. Constructed in 1988, the building features masonry construction. There are 198 surface parking spaces available, providing a parking ratio of 6.8 spaces per 1,000 square feet. The property is zoned B-2, General Business District. The location benefits from a traffic count of 17,090 vehicles per day at Wise Road and Spring Cove Drive. The current occupancy rate is 93%. The property is equipped with 21 roof-mounted HVAC units, with tenants responsible for maintenance. Signage includes a pylon sign along Wise Road.
Key Highlights
- High Occupancy Rate: 93% current occupancy indicates strong tenant demand and immediate income potential.
- Sizeable Retail Center: 29,043 rentable square feet provides substantial space.
- Favorable Parking Ratio: 198 surface spaces (6.8 : 1,000 Sq. Ft.) offers ample parking for customers.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
808
Businesses Nearby
14k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 72%
Dining 28%
7-Eleven
Shops & Services
5,957 visits/mo
0.4 miles
Checkers
Dining
3,978 visits/mo
0.1 miles
REBEL Convenience Store
Shops & Services
2,651 visits/mo
0.2 miles
Public Storage
Shops & Services
768 visits/mo
0.2 miles
Caliber Collision
Shops & Services
534 visits/mo
0.5 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Multi-tenant retail center on 3.36 acres in Schaumburg, Illinois.
Where is this strip mall located?
The property is located at 506-604 W Wise Rd Schaumburg, IL.
What are key features of this property?
This property features: High Occupancy Rate: 93% current occupancy indicates strong tenant demand and immediate income potential.; Sizeable Retail Center: 29,043 rentable square feet provides substantial space.; Favorable Parking Ratio: 198 surface spaces (6.8 : 1,000 Sq. Ft.) offers ample parking for customers.
