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    1500 Mcconnor Pkwy Schaumburg, IL 60173

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    For Lease
    Contact for pricing

    Class A Office, Flexible Suites, Prime Location

    Lot size:
    196,401 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    399
    This Class A, seven-story office building in Schaumburg, IL, offers 196,401 square feet of flexible space, perfect for various business needs. The property, built in 1999 and renovated in 2018, features 8 suites ranging from 250 to 141,463 contiguous square feet, with 98,378 square feet currently vacant. Amenities include 907 parking spaces, high-speed internet access (4000 amp and 2000 amp power), elevators, and a 9-foot ceiling height. Located at 1500 McConnor Pkwy, Schaumburg, IL 60173 (APN: 07-12-400-053-0000), this property boasts convenient access to I-90/I-290 and is near numerous retail and restaurant options. The building offers a variety of spaces, including traditional offices, executive suites, coworking areas, and medical offices, catering to diverse business types. On-site amenities include a private gym with locker rooms and showers, lounge areas, a cafe, a courtyard, presentation rooms, training rooms with A/V equipment, and multiple conference rooms. The building's location in the thriving Schaumburg submarket, close to O'Hare International Airport and the Chicago Loop, provides excellent accessibility and visibility. This property is ideal for businesses seeking a modern, well-equipped, and conveniently located office space in a dynamic business environment.

    Property Features for 1500 Mcconnor Pkwy

    General Information

    Property type
    Office space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    196,401 SF
    Class
    A

    Building Details

    Year Built/Renovated
    1999/2018
    Buildings
    1
    Stories
    7

    Unit(s) available at that property

    Space
    Suite 110
    Size
    4,458 SF
    Space
    Suite 550
    Size
    12,136 SF
    Space
    Suite 600
    Size
    29,614 SF
    Space
    Suite 700
    Size
    4,183 SF
    Space
    Suite 710
    Size
    4,788 SF
    Space
    Suite 750
    Size
    14,225 SF
    Space
    Suite 100
    Size
    12,490 SF

    HighLights

    • 24/7 Access
    • Public Transportation Access via Bus Line
    • On‑site Conference Room
    • Corner Lot with Courtyard
    • High Freeway Visibility
    • On‑site Property Management
    Property Profile Location Intelligence

    Current Use by Public Records

    DQS Inc. Business Management Consultant BRAVEHEART by IndusPAD Business Center Notable Events Deli wedoIT Managed IT ... Computer Support And Services Windy Point Property Management Company

    Suggested Use

    Realty agency Restaurant Building Supply Spa & Massage Dental Office Law Firm Auto Repair Shop Hair Salon Wholesale Shop 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
    -88.0425365
    Latitude
    42.057719

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    FAQs

    What type of property is this?
    Office space - Class A Office, Flexible Suites, Prime Location
    Where is this office space located?
    The property is located at 1500 Mcconnor Pkwy Schaumburg, IL.
    What are key features of this property?
    This property features: 24/7 Access; Public Transportation Access via Bus Line; On-site Conference Room
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    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.

    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
    1500 Mcconnor Pkwy Schaumburg, IL 60173
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