Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3401 N Kennicott Ave Arlington Heights, IL 60004

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

    Office spaces available near Dundee Road and Route 53.

    Type:Office
    Property size:
    2,261 SF
    Added:
    Mar 22, 2019
    Days on Market:
    2577
    Last Refresh:
    Mar 17 at 1:17 pm

    Property Features for 3401 N Kennicott Ave

    General Information

    Standard status
    Active
    Size
    2,261 SF
    Property subtype
    Office

    Building Details

    Year Built
    1986

    Spaces For Lease

    at 3401 N Kennicott Ave Contact us

    We can help!

    Listing Contact
    Randy Olczyk

    Listing agent Randy Olczyk License #IL 471018001

    Listing office Chicagoland Commercial Real Estate

    Listing date Mar 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 Chicagoland Commercial Real Estate

    Overview

    Office Space Near Dundee Road

    Office spaces ranging from 1,000 to 2,261 square feet are available in a single-story office building. The property is located minutes from the Dundee Road and Route 53 interchange, offering convenient access to shopping, hotels, and dining. The building features direct tenant access and 24-hour tenant access, along with tenant-controlled HVAC. Comcast high-speed internet and cable are available. The property is zoned M-1, making it suitable for office or medical users. The parking ratio is 4.14 per 1,000 square feet. A new parking lot is planned for installation in 2025. Flexible build-out options and lease terms are available.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Arlington Heights
    County
    Sangamon
    State
    Illinois
    Longitude
    -87.9793
    Latitude
    42.1121

    Nearby Similar for Lease

    • Contact for pricing

      Arlington Heights Retail/Office Opportunity

      Prime corner unit with high visibility and foot traffic.
      19 E Miner Street, Arlington Heights, IL 60004
      View Details
    • $1.00/mo

      Arlington Heights Office and Showroom

      Professionally managed office and showroom building in downtown Arlington Heights.
      116 S Arlington Heights Rd, Arlington Heights, IL, 60005-1952
      View Details
    • $13/mo

      Medical Suites in Professional Building

      Move-in ready medical suites available near Northwest Community Hospital.
      2010 S Arlington Heights Road, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Established Dental Office End Unit

      Commercial space in a shopping center with ample parking.
      1530 E HINTZ Road, Arlington Heights, IL 60004
      View Details
    • $17/mo

      Office Space with Modern Amenities

      Conveniently located office space with modern amenities and easy access.
      2340 South Arlington Heights Road, Arlington Heights, IL, 60005
      View Details
    • Contact for pricing

      Retail Shopping Center For Rent

      Remodeled retail shopping center at a high-traffic intersection.
      1013 S ARLINGTON HEIGHTS Road S, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Retail Space in Westgate Center

      Retail spaces available in established Arlington Heights shopping center.
      1531-1711 W. Campbell Street, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Adaptable medical office space with high visibility and convenient location.
      155 E. Algonquin Road, Arlington Heights, IL 60005
      View Details
    • $17/mo

      Arlington Heights Office Campus

      Two-building office campus near Dundee Road with ample parking.
      3436 N Kennicott Ave, Arlington Heights, IL 60004
      View Details
    • Contact for pricing

      Arlington Heights Commercial Space

      Commercial space available for rent in Arlington Heights, Illinois.
      500-550 W Northwest Highway unit: 544, Arlington Heights, IL 60004
      View Details
    • $14/mo

      Retail Space in Strip Mall

      Retail space available for rent in a strip mall.
      256 E Algonquin Road #256, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Retail Space on Dundee Road

      Inline retail space available with high traffic and visibility.
      1021 West Dundee Road, Arlington Heights, IL, 60004
      View Details

    FAQs

    What type of property is this?
    Office units - Office spaces available near Dundee Road and Route 53.
    Where is this office units located?
    The property is located at 3401 N Kennicott Ave Arlington Heights, IL.
    What are key features of this property?
    This property features: Flexible build‑out and terms to suit tenant needs.; Located minutes from Dundee Road / Route 53 interchange, offering convenient access.; 24‑hour tenant access and tenant‑controlled HVAC for operational flexibility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Randy Olczyk
    Real Estate License ID: IL 471018001
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!