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    846-860 Algonquin Rd Schaumburg, IL 60173

    Sponsored
    For Sale
    $14,000,000

    12.6-acre site, high potential.

    Property size:
    156,963 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 12.64-acre redevelopment site in Schaumburg, Illinois, presents a compelling investment opportunity. Located at 846-860 E Algonquin Rd, 60173, this B-3 zoned property boasts 156,963 square feet of existing improvements, encompassing four office buildings currently generating approximately $708,000 in gross annual income from short-term leases. The property's strategic location near the Motorola and Zurich campuses, I-90, and Meacham Road offers unparalleled access to a thriving business community and robust consumer base. The site's zoning allows for diverse redevelopment options, including multifamily (potential for 400 units), townhomes, retail, restaurant, or office space. Adjacent properties zoned R-6 further enhance the development potential. The existing buildings could be rehabilitated and re-tenanted, providing immediate income while long-term redevelopment plans are implemented. This prime location within the Woodfield Regional Center, subject to its design review, ensures visibility and accessibility to a wide range of businesses and residents. The asking price for this significant redevelopment opportunity is $14,000,000.

    Property Features for 846-860 Algonquin Rd

    General Information

    Property type
    Restaurants
    Square Feet
    156,963 SF
    Lot Size
    550,598 SF

    Building Details

    Buildings
    4

    HighLights

    • 12.64‑acre redevelopment site.
    • Multifamily or townhome development potential.
    • Adjacent R‑6 zoned properties.
    • Retail, restaurant, or office redevelopment potential.
    • Four existing office buildings totaling 156,963 square feet.
    • Current annual gross income: $708,693.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.058236
    Latitude
    42.074253

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    FAQs

    What type of property is this?
    Restaurant - 12.6-acre site, high potential.
    Where is this restaurant located?
    The property is located at 846-860 Algonquin Rd Schaumburg, IL.
    What is the asking price?
    The asking price for this property is $14,000,000.
    What are key features of this property?
    This property features: 12.64-acre redevelopment site.; Multifamily or townhome development potential.; Adjacent R-6 zoned properties.
    Request Owner's contact information
    846-860 Algonquin Rd Schaumburg, IL 60173
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    Realmo Value Estimation

    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.

    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.

    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
    846-860 Algonquin Rd Schaumburg, IL 60173
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