For Sale
  • For Sale
  • For Lease
  • Recently Sold
  • Property Lookup
  • Brokers
Back to Search

1500 Shure Dr Arlington Heights, IL 60004

Sponsored
For Sale
$8,525,000

7-Story Office, Redevelopment Potential

Property size:
170,507 SF

Description

Added:
Dec 11, 2024
Days on Market:
394
Prime Arlington Heights location offers a 170,507 square foot, seven-story office building on 7.246 acres, currently 11.1% occupied. Built in 1986 and renovated in 2000, this Class B multi-tenant property boasts an excellent Route 53 location with high visibility and access. Zoned M-1 (Research, Development, and Light Manufacturing), it presents a compelling redevelopment opportunity for flex/industrial use, data centers, or multifamily housing. The property features 4 parking spaces per 1,000 square feet and offers contiguous space on floors three through six, totaling over 100,000 square feet. The asking price is $8,525,000 ($50/sq ft), with land valued at $27/sq ft. Its proximity to major highways (I-355, I-90, I-290), O'Hare International Airport, and the future Arlington Park entertainment venue enhances its appeal. The building also presents an opportunity for owner-occupiers to utilize the entire building or leverage existing rental income. Potential improvements include creating rent-ready suites, updating technology, and refreshing common areas. This property is ideally suited for a developer seeking a high-demand flex/industrial project or an owner-occupier looking for a substantial space with redevelopment potential in a thriving location.

Property Features for 1500 Shure Dr

General Information

Property type
Office Properties & Spaces
Square Feet
170,507 SF
Class
B
Lot Size
315,636 SF

Building Details

Year Built/Renovated
1986/2000
Buildings
1
Stories
7

HighLights

  • M‑1 zoning allows for highly sought‑after flex‑industrial redevelopment.
  • Excellent access to Route 53, I‑355, I‑90, and I‑290, plus a 20‑minute drive to O'Hare International Airport.
  • Ready for immediate repositioning to attract a wide range of tenants, offering flexible suite options and modern amenities, including over 100,000 square feet of contiguous space.
Property Profile Location Intelligence

Current Use by Public Records

American Auto Guardian ... Insurance Agency Sterling Lawyers, LLC Divorce Lawyer mass realty llc Real Estate Agency One North Arlington Health Insurance Agency Physicians Management Solutions Medical Billing Service

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
Arlington Heights
County
Cook
State
Illinois
Longitude
-88.0007608
Latitude
42.1374929

FAQs

What type of property is this?
Office Property / Space - 7-Story Office, Redevelopment Potential
Where is this office property / space located?
The property is located at 1500 Shure Dr Arlington Heights, IL.
What is the asking price?
The asking price for this property is $8,525,000.
What are key features of this property?
This property features: M-1 zoning allows for highly sought-after flex-industrial redevelopment.; Excellent access to Route 53, I-355, I-90, and I-290, plus a 20-minute drive to O'Hare International Airport.; Ready for immediate repositioning to attract a wide range of tenants, offering flexible suite options and modern amenities, including over 100,000 square feet of contiguous space.
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