Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Bank/Office Building on Dundee Road Title is generated by Realmo AI

    770 West Dundee Road, Arlington Heights, IL 60004

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Well-maintained bank/office building in a high-traffic retail corridor.

    Type:Office
    Property size:
    11,400 SF
    Added:
    Nov 21, 2025
    Days on Market:
    178
    Last Refresh:
    Apr 5 at 8:57 pm

    Property Features for 770 West Dundee Road

    General Information

    Standard status
    Active
    Size
    11,400 SF
    Property subtype
    Office

    Building Details

    Year Built
    1989

    We can help!

    Listing Contact
    Steve Madura

    Listing agent Steve Madura

    Listing office

    Listing date Nov 21, 2025

    Source Hilcorealestatesales

    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 Steve Madura

    HighLights

    • High‑traffic location on Dundee Road (37,185 VPD) at a lighted intersection.
    • 11,400 SF above ground space with an additional 5,700 SF basement.
    • Located adjacent to the Ridge Plaza shopping center in a strong retail corridor.
    • Zoned B‑2 (General Business) offering redevelopment potential.
    • Well‑maintained bank/office building suitable for bank or medical office use.
    • Located near numerous established businesses including Portillo's, Kohl's, and Panera Bread.

    Overview

    This well-maintained bank/office building, constructed in 1989, offers 11,400 square feet of above-ground space, complemented by a 5,700-square-foot basement. Situated on 0.9 acres (39,111 square feet), the property benefits from a location along heavily-traveled Dundee Road, which sees 37,185 vehicles per day, at a lighted intersection with Ridge Avenue. Zoned B-2 (General Business), the property is subject to a deed restriction limiting its use to bank or office purposes. This makes it an ideal redevelopment opportunity for a bank or medical office. Adjacent to the Ridge Plaza shopping center, the property is located within a strong retail corridor. Neighboring businesses include Aldi, Kohl's, Panera Bread, Portillo's, Qudoba, SuperCuts, Walker Bros. Original Pancake House, and XSport Fitness, along with numerous car dealerships, contributing to high traffic and strong consumer spending. The property's taxes in 2018 were $64,674.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Isalis (Bike/Boat/Book/etc) Store Party City Party Supply Store Skunk Funk Big Box & Wholesale Store Carl's Trading Co Hat Shop Bushka's Kitchen LLC (Bike/Boat/Book/etc) Store

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Heights
    County
    Sangamon
    State
    Illinois
    Longitude
    -87.9793
    Latitude
    42.1121

    Nearby Similar for Sale

    • $995,000
      8,000 SF

      Commercial Building in Arlington Heights

      Well-maintained commercial building with income potential in high-traffic area.
      505 E Golf Road, Arlington Heights, IL 60005
      View Details
    • $995,000
      8,000 SF

      Arlington Heights Office Building For Sale

      Well-maintained office building with income potential in high-traffic location.
      505 E Golf Road, Arlington Heights, IL 60005
      View Details
    • $2,495,000
      36,671 SF

      Arlington Heights Office Building

      36,671 SF office building near Route 53 and Euclid Avenue.
      3150 W Salt Creek Lane, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      15,000 SF

      Arlington Heights Office Building Investment

      15,000 SF office building with high occupancy near Chicago.
      5 East College Drive, Arlington Heights, IL 60004
      View Details
    • $350,000

      Arlington Heights Commercial Opportunity

      Commercial property for sale in Arlington Heights, Illinois.
      3323 N Ridge Avenue, Arlington Heights, IL 60004
      View Details
    • $19
      109,000 SF

      Arlington Heights Medical Office Space

      Medical office space available in Arlington Heights, Illinois.
      3030 Salt Creek Lane, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      4,507 SF

      Well-Maintained Building Near Hospital

      Well-maintained building near hospital, ideal for multiple future uses.
      1104 South Arlington Heights Road, Arlington Heights, IL 60005
      View Details
    • $1,550,000
      14,000 SF

      Industrial Property in Established Park

      Seven-unit industrial property with easy access to major transportation routes.
      150 Elizabeth Dr, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      113,570 SF

      Flex Warehouse Space Available

      Flex/warehouse space with loading docks and drive-in doors.
      702-778 West Algonquin Road, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      100,393 SF

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in doors.
      501-571 W Golf Road, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      26,750 SF

      Arlington Heights Warehouse For Sale

      26,750 SF building with docks, drive-in door, and parking.
      125 Weiler Rd, Arlington Heights, IL 60005
      View Details
    • $3,900,000
      170,507 SF

      Arlington Heights Office Building Opportunity

      Seven-story office building with redevelopment potential in Arlington Heights, Illinois.
      1500 W Shure Dr, Arlington Heights, IL 60004
      View Details

    FAQs

    What type of property is this?
    Office building - Well-maintained bank/office building in a high-traffic retail corridor.
    Where is this office building located?
    The property is located at 770 West Dundee Road Arlington Heights, IL.
    What are key features of this property?
    This property features: High‑traffic location on Dundee Road (37,185 VPD) at a lighted intersection.; 11,400 SF above ground space with an additional 5,700 SF basement.; Located adjacent to the Ridge Plaza shopping center in a strong retail corridor.
    (847) 504-2478
    We can help!
    Listing Contact
    Steve Madura
    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
    770 West Dundee Road, Arlington Heights, IL 60004
    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!