Algonquin Algonquin Rd Algonquin, IL 60102
- Retail properties
- 2,473 SF
- 1.69 lot acres
Current Use by Public Records
- Retail properties
Property Details for Algonquin Algonquin Rd
- Year built
- 1976
- Lot size
- 1.69 lot acres
- Property size
- 2,473 SF
- Property type
- Retail properties
Description
This 11,000 square foot retail strip center in Algonquin, IL, presents a compelling investment opportunity. Located at 501-515 E. Algonquin Road (Route 62), this property boasts a prime location on a highly visible, lighted intersection, just three blocks east of the downtown area and Fox River. Built in 1976, the center sits on a 1.69-acre lot and offers 86 parking spaces. Currently 100% occupied with seven tenants, including a liquor store, Active Home Care, Dos Bros, a nail salon, State Farm Insurance, a laundromat, and a vape store, the property generates a strong NOI of $157,564.62. The center benefits from high traffic counts on Algonquin Road (37,000 vehicles per day) and is surrounded by affluent neighborhoods with high household incomes exceeding $100,000. The available 2,473 square foot liquor store space presents an opportunity for owner-occupancy or lease to a new tenant, further increasing value and NOI. The property is zoned B-1 and features convenient access to surrounding communities, schools, and libraries. Its proximity to O'Hare Airport (29 miles) and the Chicago Loop (40 miles) adds to its strategic appeal. The parcel numbers are 19-34-252-008 and 19-34-253-001. The sale price is subject to offer.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Algonquin
- County
- McHenry
- State
- Illinois
- Longitude
- -88.2827
- Latitude
- 42.1632
