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

    650 Algonquin Rd Schaumburg, IL 60173

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Schaumburg Office Space For Lease

    Lot size:
    81,522 SF

    Property Features for 650 Algonquin Rd

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    81,522 SF
    Class
    B
    Total Rate
    115489.5

    Building Details

    Year Built/Renovated
    1987/2018
    Buildings
    1
    Stories
    4

    Spaces For Lease

    at 650 Algonquin Rd, Schaumburg, IL 60173 Contact us
    Unit 206

    $17 /Mo

    Size
    1,608 SF
    Contact us
    Unit 250

    $17 /Mo

    Size
    7,039 SF
    Contact us
    Unit 350

    $17 /Mo

    Size
    6,493 SF
    Contact us
    Unit 303

    $17 /Mo

    Size
    1,290 SF
    Contact us
    Unit 404

    $17 /Mo

    Size
    4,129 SF
    Contact us
    Show more

    We can help!

    Listing Contact
    Olivia Czyzynski
    Olivia Czyzynski

    Listing Agency: Sperry Van Ness Listing Agent: Olivia Czyzynski

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

    Learn more

    Property Insight Report

    Overview

    Lakewoods Corporate Center, a stunning four-story, all-glass office building at 650 E Algonquin Rd, Schaumburg, IL 60173, offers multiple suites for lease. This Class B building, totaling 81,522 square feet, underwent renovations in 2018, boasting a newly updated two-story lobby and bathrooms. Individual suites range from 1,290 to 7,039 square feet, with a minimum divisible space of 4,129 square feet and a maximum contiguous space of 9,660 square feet. Each suite includes kitchenettes with plumbing. Spec suites feature high-end finishes, including glass wall offices and conference rooms. The building benefits from abundant natural light and includes janitorial service Monday through Friday. Located on a 5.68-acre lot (APN: 02-34-102-067-0000) in Cook County, this property enjoys a prime location across from the new 90 North entertainment district, offering easy access to restaurants, shopping, and entertainment venues. Nearby amenities include a luxury apartment complex, a daycare center, and Woodfield Mall (within 2 miles). Excellent highway access is provided by its proximity to I-90, I-290, I-355, and IL-53. O'Hare International Airport is less than 15 miles away, and downtown Chicago is approximately 30 miles distant. The building's zoning is B-3. Built in 1987, this property presents a unique opportunity in a thriving Schaumburg location.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VisionTek Factory Samsui Howard Group ... Big Box & Wholesale Store Hospitality Tech Next ... Corporate Office Strateology Business Consulting Business Management Consultant BZA Behavioral Health Psychotherapist

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.061829058092
    Latitude
    42.074697470684

    Nearby Similar for Lease

    • Contact for pricing

      Prime Schaumburg Office Space

      Professional office space with high visibility in a strong commercial corridor.
      1226 Roselle Rd N, Schaumburg, IL 60195
      View Details
    • Contact for pricing

      Schaumburg Office/Retail Space Available

      First-floor office/retail space in Schaumburg with ample parking.
      105 S Roselle Rd, Schaumburg, IL 60193
      View Details
    • Sponsored
      New
      Contact for pricing

      Woodfield Preserve

      Workspaces, services and support to help you work better in Woodfield Preserve
      10 Martingale Rd, Schaumburg, IL 60173
      View Details
    • New
      Contact for pricing

      Gateway Executive Park

      Discover many ways to work your way in Gateway Executive Park
      1821 Walden Office Sq, Schaumburg, IL 60173
      View Details
    • Contact for pricing

      IL, Schaumburg - McConnor Pkwy

      Discover many ways to work your way in Ayrsley
      1500 Mcconnor Pkwy, Schaumburg, IL 60173
      View Details
    • Contact for pricing

      Schaumburg Office Warehouse Space

      Office unit with warehouse in prime Woodfield location.
      1254 Remington Rd, Schaumburg, IL 60193
      View Details
    • $14 SF/Yr
      3,515 SF

      Furnished Office Space Sublease

      Well-maintained, furnished office space available for sublease in a business park.
      1125 Remington Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      58,423 SF

      Prime Retail Space Available

      Anchor space with high visibility near Woodfield Mall.
      830 East Golf Rd, Schaumburg, IL 60173
      View Details
    • $13 SF/Yr
      2,074 SF

      Schaumburg Office Space Available

      Renovated office space with cafeteria, lounge, and fitness center.
      200 N Martingale Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      174,397 SF

      Schaumburg Office Sublease Opportunity

      Sublease opportunity in a prime Schaumburg location.
      1701 Woodfield Rd, Schaumburg, IL 60173
      View Details
    • $16 SF/Yr
      96,529 SF

      Premier Office Center with Amenities

      Office complex with amenities, convenient access to major highways.
      10 North Martingale Rd, Schaumburg, IL 60173
      View Details
    • $13 SF/Yr
      12,500 SF

      Schaumburg Flex Space For Rent

      Flex space available near Elgin-O’Hare Expressway, suitable for automotive use.
      1025 Lunt Ave, Schaumburg, IL 60193
      View Details

    FAQs

    What type of property is this?
    Office space - Schaumburg Office Space For Lease
    Where is this office space located?
    The property is located at 650 Algonquin Rd Schaumburg, IL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Spec suites available.; High-visibility office building on Algonquin Road at the Quentin Road intersection.; Across from Schaumburg's 90 North entertainment district.
    (312) 676-1862 Call to check price and availability
    Request Owner's contact information
    650 Algonquin Rd Schaumburg, IL 60173
    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.
    650 Algonquin Rd
    Schaumburg, IL 60173
    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
    650 Algonquin Rd Schaumburg, IL 60173
    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 Olivia Czyzynski
    Olivia Czyzynski
    Real Estate License ID: 475146577
    (312) 676-1862 (312) 676-1866
    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!