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    1301 American Ln Schaumburg, IL 60173

    Sponsored
    For Sale
    Contact for pricing

    Prime Schaumburg location, 22,668 SF, 4.28 acres.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property at 1301 American Lane in Schaumburg, Illinois, presents a unique investment opportunity. The existing 22,668 square foot building currently functions as a restaurant and banquet facility, offering significant potential for redevelopment or continued operation in its current format. Situated on a substantial 4.28-acre lot, the property boasts 265 surface parking spaces, ensuring ample convenience for patrons and employees. The B-3 zoning allows for a wide range of potential uses, including entertainment venues, medical offices, hotels, veterinary clinics, schools, preschools, banquet halls, and restaurants. With over 400 feet of frontage along American Lane, the property enjoys high visibility and accessibility. Its strategic location in the heart of a super regional trade area, just steps from one of Chicago's premier shopping malls, guarantees a strong customer base and significant foot traffic. This property offers a rare combination of size, location, and zoning flexibility, making it an ideal investment for discerning buyers seeking a high-return opportunity in a thriving market. The Cook County address, zip code 60173, and precise coordinates (latitude 42.0473385552826, longitude -88.04777761867767) further define this exceptional offering.

    Property Features for 1301 American Ln

    General Information

    Property type
    Lifestyle centers

    HighLights

    • 22,668 SF existing restaurant/banquet facility.
    • 4.28‑acre land parcel.
    • B‑3 zoning.
    • 265 surface parking spaces.
    • Multiple potential uses including entertainment, medical office, hotel, veterinary, school, preschool, and more.
    • Over 400 feet of frontage on American Lane.
    Property Profile Location Intelligence

    Current Use by Public Records

    SREE ANANDA VILAS Restaurant Schaumburg Indian Grill ... Indian Restaurant Schaumburg Banquet Banquet Hall Grillhouse by David ... Bar

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.047777618678
    Latitude
    42.047338555283

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    FAQs

    What type of property is this?
    Lifestyle center - Prime Schaumburg location, 22,668 SF, 4.28 acres.
    Where is this lifestyle center located?
    The property is located at 1301 American Ln Schaumburg, IL.
    What are key features of this property?
    This property features: 22,668 SF existing restaurant/banquet facility.; 4.28-acre land parcel.; B-3 zoning.
    Request Owner's contact information
    1301 American Ln 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
    1301 American Ln Schaumburg, IL 60173
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