Rand Road Retail Redevelopment
For Lease
Contact for pricing
SEC Rand Road & Palatine Road, Springfield, IL
Retail spaces and outlots available in Arlington Heights, Illinois.
Property Size4,800 SF
Lot Size2.15 Acres
Days on Market567
Property Features for SEC Rand Road & Palatine Road
General Information
Standard status
Active
Size
4,800 SF
Lot size
2.15 Acres
Property subtype
RETAIL
Listing Agency:
Mid-America Real Estate Group | Chicago
(630) 954-7512
Listed By:
Brian Adams
Source:
Moodyscre
Added: Jan 9, 2025
Changed: Jul 10
Last Checked: Jul 21 at 8:26AM
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 Mid-America Real Estate Group | Chicago
Investment Insights
Based on property information with market context.
This property presents a redevelopment opportunity situated in the heart of the Rand Road corridor, located at the intersection of three major six-lane roads. A comprehensive update is planned, including a new parking lot, lighting, landscaping, facades, and awnings. The location benefits from proximity to a major intersection with combined traffic counts exceeding 190,000 vehicles per day. Available spaces include a 2,169 square foot outlot with a drive-thru, and 11,841 divisible square feet in the North Shops. South Shops outlots offer pad opportunities on approximately 2.21 acres. A new multi-tenant building on Palatine Road with a drive-thru is slated for delivery in Spring 2023. Chipotle is relocating to a freestanding location with a Chipotlane, with an opening planned for Spring 2023. At Home furniture is expected to open in February 2023. The South Shop area is available for sale or lease redevelopment, with outlots up to 40,000 square feet or build-to-suit options on approximately 2.21 acres. Redevelopment of common areas is scheduled to begin in Summer 2023. The property offers flexible square footage and the opportunity to join new tenants such as AT&T, Consumers Credit Union, and future Bibibop. Plans include a facade uplift to the South Shops, along with shopping center enhancements including a new parking lot, landscaping, and lighting.
Key Highlights
- High‑traffic location: Over 190,000 vehicles per day pass by at the major intersection.
- Redevelopment Opportunity: For Sale or Lease redevelopment of South Shop area. Outlots up to 40k SF or BTS on ~2.21 acres.
- New Multi‑Tenant Building: Available on Palatine Rd with drive‑thru (Delivery Spring 2023).
Property Analytics
Property Profile
Current Use
Lease Details
NNN (Triple Net)
Lease Type
Location Intelligence
Trade Area within ½ mile
3,767
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Old Town Mall — 3 W Old State Capitol Plaza, Springfield, IL 62701
Frequently Asked Questions
What type of property is this?
Shopping center - Retail spaces and outlots available in Arlington Heights, Illinois.
Where is this shopping center located?
The property is located at SEC Rand Road & Palatine Road Springfield, IL.
What are key features of this property?
This property features: High‑traffic location: Over 190,000 vehicles per day pass by at the major intersection.; Redevelopment Opportunity: For Sale or Lease redevelopment of South Shop area. Outlots up to 40k SF or BTS on ~2.21 acres.; New Multi‑Tenant Building: Available on Palatine Rd with drive‑thru (Delivery Spring 2023).
