Add Listing
    For Sale
    • 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

    20140-20152 Rand Rd Rt 12 Palatine, IL 60074

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    2.98 Acres, Prime Rand Rd Location

    Property Features for 20140-20152 Rand Rd Rt 12

    General Information

    Property type
    Land
    Lot Size
    129,809 SF

    We can help!

    Listing Contact
    Randy Olczyk

    Listing Agency: Chicagoland Commercial Real Estate Listing Agent: Randy Olczyk

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This exceptional 2.98-acre commercial land parcel presents a remarkable development opportunity in Deer Park, Illinois. Strategically located on Rand Road (US Route 12), just north of Lake Cook Road, this property boasts 176 feet of frontage on a major thoroughfare experiencing high traffic volume—44,940 vehicles daily. The site is zoned P - Planned Development, allowing for uses compatible with a general business district (specific permitted uses are detailed in the zoning documents). Two parcels comprise the total acreage: 20140 N. Rand Rd (69,202 sq ft, PIN 14-35-300-031) and 20152 N. Rand Rd (60,118 sq ft, PIN 14-35-300-030). The land value is $14.63 per square foot. The asking price is $1,900,000. 2021 property taxes totaled $20,930.90. This prime location offers unparalleled visibility and accessibility, making it ideal for a variety of commercial ventures. Detailed zoning information is available upon request. Don't miss this chance to acquire a highly desirable commercial property in a thriving area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Palatine
    County
    Lake
    State
    Illinois
    Longitude
    -88.0419348
    Latitude
    42.1554459

    Nearby Similar for Sale

    • New
      $549,900
      3,500 SF

      Versatile Commercial Warehouse in Palatine

      3,500 SF commercial warehouse on a high-traffic corner location.
      640 E Northwest Hwy, Palatine, IL 60074
      View Details
    • $350,000
      0.23 Acres

      Palatine Office Building For Sale

      Commercial building in Plum Grove Office Park, Palatine, Illinois.
      502 N Plum Grove Rd, Palatine, IL 60067
      View Details
    • $700,000
      6,549 SF

      Free-Standing Office Building For Sale

      Single-story office building near downtown Palatine, divisible for multiple tenants.
      501 W Colfax St, Palatine, IL 60067
      View Details
    • Contact for pricing
      3,000 SF

      Free-Standing Industrial Building with Yard

      Industrial building with fenced yard, paved lot, and easy access.
      240 E Helen Rd, Palatine, IL 60067
      View Details
    • $2,500,000
      21,500 SF

      Iconic Palatine Commercial Redevelopment Opportunity

      21,500 SF building with redevelopment potential in downtown Palatine.
      180 N Smith St, Palatine, IL 60067
      View Details
    • $350,000

      204 N Hicks Pl. , Palatine, IL 60067

      Storefront properties
      204 N Hicks Pl, Palatine, IL 60067
      View Details
    • Contact for pricing
      27,000 SF

      Palatine Industrial Property For Sale

      27,000 SF industrial property with heavy parking.
      1200 Rohlwing Rd, Palatine, IL 60074
      View Details
    • Contact for pricing
      17,175 SF

      Palatine Warehouse with Excess Land

      17,175 SF warehouse with extra land for parking/storage.
      433 S Vermont St, Palatine, IL 60067
      View Details
    • Contact for pricing
      2,460 SF

      Office Space Near Rand Road

      Office space available immediately near a busy intersection.
      1597 N Rand Rd, Palatine, IL 60074
      View Details
    • $450,000
      3,000 SF

      Free-Standing Building in Palatine

      3,000 SF building in high-traffic Palatine location.
      205 Hicks Pl, Palatine, IL 60067
      View Details
    • Contact for pricing
      5,938 SF

      New Gas Station Ground Lease

      Brand new gas and convenience store with a long-term lease.
      20227 N Rand Rd, Palatine, IL 60074
      View Details
    • Contact for pricing
      2,300 SF

      Turn-Key Dental Office Space

      Fully equipped dental office in prime location ready for immediate occupancy.
      741 E Dundee Rd, Palatine, IL 60074
      View Details

    FAQs

    What type of property is this?
    Land - 2.98 Acres, Prime Rand Rd Location
    Where is this land located?
    The property is located at 20140-20152 Rand Rd Rt 12 Palatine, IL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: 176 feet of US Route 12 frontage.; 44,940 VPD on US Route 12 (Rand Rd).; North Lake Cook Road location.
    (847) 338-2022 Call to check price and availability
    Request Owner's contact information
    20140-20152 Rand Rd Rt 12 Palatine, IL 60074
    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.
    20140-20152 Rand Rd Rt 12
    Palatine, IL 60074
    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
    20140-20152 Rand Rd Rt 12 Palatine, IL 60074
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Randy Olczyk
    Real Estate License ID: 471018001
    (847) 338-2022 (847) 438-4300 (847) 246-9611
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!