Park Ridge Suburban Office
For Sale
Contact for pricing
Pending
1420 Renaissance Dr, Park Ridge, IL 60068
Partially leased office building near I-294 and Metra.
Property Size54,570 SF
Lot Size3.03 Acres
Days on Market805
Property Features for 1420 Renaissance Dr
General Information
Standard status
Pending
Size
54,570 SF
Class
B
Lot size
3.03 Acres
Property subtype
Office
Zoning
O
Occupancy
49%
Lease Type
Modified Gross
Investment Type
Value Add
Net Operating Income
$26,299
Building Details
Year Built
1970
Year Renovated
2004
Buildings
1
Stories
4
Units
44
Tenancy
Multi
Listing Agency:
Greenstone Partners
(917) 251-9087
Listed By:
Malek Abdulsamad · License #IL 471018795
Source:
Crexi
Added: Jun 7, 2024
Changed: Aug 11
Last Checked: Aug 18 at 10:28AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Greenstone Partners
Investment Insights
Based on property information with market context.
The property at 1420 Renaissance Drive is a suburban office building located in Park Ridge, Illinois. The building has 55,595 rentable square feet across four floors and is situated on 3.03 acres of land. The office building is 49.14% leased and is home to 22 companies, including medical and healthcare users occupying 29% of the property. The property is located at the intersection of Park Ridge, Desplaines, and Niles, with direct exposure to I-294. It is also located 1 mile from the Dee Road Metra Station and 1.5 miles from the Desplaines city center and Metra station (Union Pacific Northwest Line). The surrounding area within 2 miles has an average household income of $97,109, an average home value of $268,452, and a total population of 72,000. The property is located within 2 miles of O’Hare International Airport and 12 miles of downtown Chicago. Lutheran General Hospital, the town’s largest employer, is located one mile east of the property.
Key Highlights
- Strategic location at the intersection of Park Ridge, Desplaines, and Niles, with direct exposure and a quick 2‑minute drive to I‑294.
- Proximity to transportation: 1‑mile from Dee Road Metra Station and 1.5‑miles from Desplaines city center and Metra station (Union Pacific Northwest Line).
- Located in Park Ridge, an affluent Northwest suburb of Chicago, experiencing continuous growth.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,313
Businesses Nearby
Explore this area
Business Placement
Demographics for 60068, IL
39,672
Population
15,999
Households
2.5
Avg Household Size
44
Median Age
65%
College-Educated
97%
High-School Grad
7.3 sq mi
ZIP Area
5,435
Density / Sq Mi
$138,201
Median Household Income
$78,495
Median Earnings
$1,511
Median Rent
$539,700
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Partially leased office building near I-294 and Metra.
Where is this office building located?
The property is located at 1420 Renaissance Dr Park Ridge, IL.
What is the asking price?
The asking price for this property is $2,100,000.
What are key features of this property?
This property features: Strategic location at the intersection of Park Ridge, Desplaines, and Niles, with direct exposure and a quick 2‑minute drive to I‑294.; Proximity to transportation: 1‑mile from Dee Road Metra Station and 1.5‑miles from Desplaines city center and Metra station (Union Pacific Northwest Line).; Located in Park Ridge, an affluent Northwest suburb of Chicago, experiencing continuous growth.
