846-860 E Algonquin Rd Schaumburg, IL 60173
12.64-acre site suitable for multifamily, retail, restaurant, or office redevelopment.
Type:Retail, Multifamily, Office
Property size:
156,963 SFLot size:
12.64 AcresPrice / SF:
$89/SF- Added:
- Feb 22, 2019
- Days on Market:
- 2617
- Last Refresh:
- Mar 17 at 1:13 pm
Property Features for 846-860 E Algonquin Rd
General Information
- Standard status
- Active
- Size
- 156,963 SF
- Lot size
- 12.64 Acres
- Property subtype
- Retail, Multifamily, Office
Listing agent Daniel Hyman License #IL 471.013658x
Listing office Millennium Properties R/E
Listing date Feb 22, 2019
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 Millennium Properties R/E
Overview
Schaumburg Redevelopment Site For Sale
A 12.64-acre redevelopment site is available for sale. This site offers potential as a multi-family complex or town home development, with zoning for up to 400 units, aligning with adjacent R-6 zoned sites. Redevelopment opportunities also include retail, restaurant, or office space. Currently, the property features four office buildings totaling 156,693 square feet. The existing property generates approximately $708,000 in gross income, with tenants on short-term leases. The buildings could be renovated and re-tenanted. The site is located in Schaumburg, near the Motorola and Zurich office campuses, with convenient access to I-90 and Meacham Rd. Schaumburg is located in the northwest suburbs of Chicago and is home to Woodfield, a shopping and entertainment district featuring brands such as Motorola, Ikea, and Whole Foods. The site's location near the new interchange at Meacham and I-90 provides convenient access for residents, businesses, and customers.
Location Intelligence
Current Use by Public Records
Commercial land
Location Insight
- Map
- Local Demand
- City
- Schaumburg
- County
- Cook
- State
- Illinois
- Longitude
- -88.0583401
- Latitude
- 42.0741586
Nearby Similar for Sale
FAQs
What type of property is this?
Commercial land - 12.64-acre site suitable for multifamily, retail, restaurant, or office redevelopment.
Where is this commercial land located?
The property is located at 846-860 E 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 zoned for 400 units, ideal for multi‑family or townhome development.; High‑potential location in Schaumburg, near Motorola and Zurich office campuses, and the Meacham/I‑90 interchange.; Flexible zoning allows for redevelopment as retail, restaurant, or office space.
