25 Point Blvd Elk Grove Village, IL 60007

Property Details for 25 Point Blvd

Year built

1989

Lot size

7.18 lot acres

Property size

209,895 SF

Property type

Office Properties & Spaces

Description

This exceptional Class A office building, located at 25 NW Point Blvd in Elk Grove Village, IL, presents a compelling value-add investment opportunity. The ten-story, 209,895 square foot building, constructed in 1989, boasts a desirable multi-tenant occupancy of 51.8% and sits on a 7.18-acre lot. Its prime location near the I-90 and Arlington Heights Road interchange offers convenient access to public transportation, including a PACE bus park and ride, providing easy commutes to O'Hare Airport and downtown Chicago. The building features a five-story covered parking deck, enhancing tenant convenience and appeal. Additional amenities include a fitness center, security station, and a building conference center (tenant wi-fi lounge and food service are inactive). The current tenant mix consists of small to mid-sized businesses seeking a high-quality, institutional image. The property is zoned OP and offers significant upside potential due to its strong location and existing amenity package, attracting tenants seeking a flight to quality. The asking price is $10,000,000, translating to a price per square foot of $47.64. This presents a unique chance to acquire an institutional-quality asset with substantial growth potential in a thriving suburban Chicago market. The property's proximity to numerous restaurants and shopping centers, including Woodfield Mall, further enhances its attractiveness to both tenants and investors.