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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    300 Hwy Fox River Grove, IL 60021

    • Mixed-use properties
    • 2.00 lot acres
    For Sale
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 300 Hwy

    Lot size
    2.00 lot acres
    Property type
    Mixed-use properties
    Property subtype
    Land

    Description

    This exceptional two-acre commercial or mixed-use development opportunity is located in Fox River Grove, Illinois, at 300 Northwest Hwy, zip code 60021. The property, encompassing APNs 20-18-483-015, 20-18-483-014, 20-18-483-022, 20-18-483-016, 20-18-483-017, 20-18-483-018, 20-18-483-019, 20-18-483-020, 20-18-483-021, and 20-17-356-007, is zoned B1 & B2, offering significant flexibility for development. Its strategic location provides convenient access to the Fox River Grove Metra Station (Union Pacific Northwest Line), situated within walking distance, and is just one mile east of Good Shepherd Hospital. The property benefits from its proximity to award-winning school districts – District 3 and District 155. Furthermore, this site is located within a Tax Increment Financing (TIF) district, with 25 years remaining after a recent extension (established in 2015), presenting a compelling financial advantage for developers. The property is offered at a price subject to negotiation. This presents a rare opportunity to capitalize on a prime location with excellent infrastructure and community amenities, just 42 miles northwest of Chicago.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Fox River Grove
    County
    McHenry
    State
    Illinois
    Longitude
    -88.2198
    Latitude
    42.1986

    Comparable in this City

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    • Value Estimation by Request
      284 SF

      912 Nwnw Hwy

      COMMERCIAL (GENERAL) • 284 SF
      912 Nwnw Hwy, Fox River Grove, IL 60021-1925
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      912 Nwnw Hwy

      COMMERCIAL (GENERAL) • 284 SF
      912 Nwnw Hwy, Fox River Grove, IL 60021-1925
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      613 Algonquin Rd

      COMMERCIAL (GENERAL)
      613 Algonquin Rd, Fox River Grove, IL 60021-1415
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      $1,855,000
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      Fox River

      COMMERCIAL (GENERAL) • 5,008 SF
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    • Value Estimation
      $885,000
      0.10 Acres

      400 Nwnw Hwy

      COMMERCIAL (GENERAL) • 0.10 Acres
      400 Nwnw Hwy, Fox River Grove, IL 60021-1112
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    Similar Nearby for Lease

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      Medical Office Suite Available

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    300 Hwy
    Fox River Grove, IL 60021
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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.

    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
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