Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search

    1821 Irving Park Rd Schaumburg, IL 60193

    Sponsored
    For Sale
    Contact for pricing

    40,000 SF prime commercial land

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 40,000 square foot commercial land parcel presents a unique investment opportunity in the thriving Schaumburg, Illinois market. Strategically located at a highly visible, lighted intersection on Irving Park Road (Route 19), this property boasts 200 feet of frontage, ensuring maximum exposure to a high volume of traffic. The site offers multiple convenient entry and egress points, enhancing accessibility for both customers and employees. Its proximity to the Illinois Route 390 on/off ramp (within 1/3 of a mile) provides easy access to major transportation arteries, further boosting its appeal. Schaumburg's robust economy, recognized as the second-largest economic development city in Illinois outside of Chicago, makes this location particularly attractive. The surrounding area features a high density of residential properties, creating a strong potential customer base. This versatile site is ideally suited for a variety of commercial developments, including a multi-tenant strip mall or a freestanding quick-service restaurant with drive-thru capabilities. The significant lot size and prime location offer exceptional potential for substantial returns. Don't miss this chance to acquire a premier commercial property in one of Illinois's most dynamic and prosperous communities. This is a rare opportunity to capitalize on a highly desirable location with excellent visibility and accessibility.

    Property Features for 1821 Irving Park Rd

    General Information

    Property type
    Land

    We can help!

    Listing Contact
    Matt Smetana

    Learn more

    Property Insight Report

    HighLights

    • 40,000 SF commercial land parcel in Schaumburg, IL.
    • Located at a signalized intersection with multiple access points.
    • 200 feet of frontage on Irving Park Road (Route 19).
    • Less than 1/3 mile from IL‑390 on/off ramp.
    • Surrounded by high‑density residential.
    • Suitable for a multi‑tenant retail building or freestanding restaurant with drive‑thru.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.124587700255
    Latitude
    42.001209200244

    Nearby Similar for Sale

    • $1,290,000
      Pending

      Schaumburg Industrial Building with Parking

      Versatile industrial building with warehouse, office, and parking.
      515 Lunt Ave, Schaumburg, IL 60193
      View Details
    • $1,999,000
      69,277.00 Acres

      Schaumburg Commercial Property For Sale

      Established car care center with retail potential in Schaumburg, IL.
      1801 W Wise Rd, Schaumburg, IL 60193
      View Details
    • $1,200,000
      0.34 Acres

      Schaumburg Commercial Property for Sale

      Commercial property available in Schaumburg, Illinois.
      25 S Roselle Rd, Schaumburg, IL 60193
      View Details
    • $180,000
      2.96 Acres

      Profitable Nail Salon in Schaumburg

      Established nail salon with high income and absentee owner potential.
      9999 Confidential, Schaumburg, IL 60194
      View Details
    • $375,000
      1,550 SF

      Updated Townhome with Modern Finishes

      Move-in ready, updated 2-bedroom townhome with modern kitchen and private balcony.
      802 Stonewall Ct, Schaumburg, IL 60173
      View Details
    • $489,900

      Updated Townhouse with Golf Views

      Spacious 3-bedroom townhouse with golf course views and updates.
      147 Fulbright Ln, Schaumburg, IL 60194
      View Details
    • $548,084

      New Townhomes in Schaumburg

      New 3-story townhomes near shopping, dining, and recreation.
      232 Warren Ln, Schaumburg, IL 60193
      View Details
    • $200,000

      Updated Office Condo For Sale

      Updated office condo with tenant or vacant options available.
      1025 W Wise Rd, Schaumburg, IL 60193
      View Details
    • $180,000

      Updated Condo in Town Square

      Move-in ready, 1 bed, 1 bath condo in prime location.
      220 S Roselle Rd, Schaumburg, IL 60193
      View Details
    • Contact for pricing
      29,621 SF

      Schaumburg Retail Center For Sale

      Multi-tenant retail center on 3.36 acres in Schaumburg, Illinois.
      506-604 W Wise Rd, Schaumburg, IL 60193
      View Details
    • $2,745,600
      6,103 SF

      IHOP NNN Lease Investment

      NNN leased IHOP with established sales history and rent increases.
      1700 E Higgins Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      8,750 SF

      Turnkey Restaurant and Banquet Facility

      Turnkey restaurant and banquet facility near Woodfield with massive patio.
      680 Mall Dr, Schaumburg, IL 60173
      View Details

    FAQs

    What type of property is this?
    Land - 40,000 SF prime commercial land
    Where is this land located?
    The property is located at 1821 Irving Park Rd Schaumburg, IL.
    What are key features of this property?
    This property features: 40,000 SF commercial land parcel in Schaumburg, IL.; Located at a signalized intersection with multiple access points.; 200 feet of frontage on Irving Park Road (Route 19).
    Request Owner's contact information
    1821 Irving Park Rd Schaumburg, IL 60193
    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.
    1821 Irving Park Rd
    Schaumburg, IL 60193
    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
    1821 Irving Park Rd Schaumburg, IL 60193
    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!
    Listing Contact
    Matt Smetana
    Real Estate License ID: IL 471006682
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.