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    Property profile & analytics

    2360 Higgins Rd Hoffman Estates, IL 60169

    • Land
    • 1.12 lot acres
    For Sale
    View listing
    $1,200,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • McFarland Garage Door Repair / Hardware & Home Improvement / Production Facility

    Property Details for 2360 Higgins Rd

    Lot size
    1.12 lot acres
    Property type
    Land
    Property subtype
    Retail space

    Description

    This exceptional 1.12-acre (52,905 sq ft) development site is the last available outlot at Barrington Square Town Center in Hoffman Estates, Illinois. Located at 2360 W Higgins Rd, this B2-zoned property offers unparalleled visibility and access, boasting over 30,000 vehicles daily. The site is part of a thriving 100,000 sq ft shopping center with strong co-tenancy including McDonald's, 7-Eleven, Popeyes, Buona Beef, and other established businesses. A new 7-Eleven with a gas station is under construction. Its prime location directly across from Amita Health St. Alexius Medical Center (318 beds, 2700 employees) and proximity to major office parks ensures high traffic and diverse customer base. Excellent access to major roadways, including I-90, and public transportation options further enhance its appeal. The asking price is $1,200,000. This presents a unique opportunity for developers seeking a high-impact location in a rapidly growing area, just 25 miles northwest of downtown Chicago and 12 miles from O'Hare International Airport. The property is also available for ground lease at $2.50/sq ft.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hoffman Estates
    County
    Cook
    State
    Illinois
    Longitude
    -88.1383
    Latitude
    42.0581

    Comparable in this City

    • Value Estimation by Request
      52,905 SF

      2360 Higgins Rd

      Individual retail properties • 52,905 SF
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    • Value Estimation by Request
      6.51 Acres

      2775 Bode Rd

      STORE, RETAIL OUTLET • 6.51 Acres
      2775 Bode Rd, Hoffman Estates, IL 60169-1164
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    • Value Estimation
      $2,915,000
      1.46 Acres

      1000 Grand Cyn Pkwy

      STORE, RETAIL OUTLET • 1.46 Acres
      1000 Grand Cyn Pkwy, Hoffman Estates, IL 60169-1705
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    • Value Estimation
      $695,000
      0.83 Acres

      1305 Barrington Rd

      RETAIL STORES (PERSONAL SERVICES) • 0.83 Acres
      1305 Barrington Rd, Hoffman Estates, IL 60169-1014
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    • Value Estimation by Request
      2.30 Acres

      2155 Stonington Ave

      STORE, RETAIL OUTLET • 2.30 Acres
      2155 Stonington Ave, Hoffman Estates, IL 60169-2039
      View Details
    • Value Estimation by Request
      1.34 Acres

      1000 Roselle Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.34 Acres
      1000 Roselle Rd, Hoffman Estates, IL 60169-4919
      View Details

    Similar Nearby for Sale

    • $1,200,000
      1.12 Acres

      Hoffman Estates Development Site

      High-visibility, pad-ready outlot.
      2360 Higgins Rd, Hoffman Estates, IL 60169
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    • Contact for pricing
      5.08 Acres

      Prime 5.08-Acre Commercial Land

      Hoffman Estates, IL commercial lot
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      4.89 Acres

      Prime Hoffman Estates Commercial Land

      4.89 Acres, Cook County, IL
      0 4.89 By Itself, Hoffman Estates, IL 60169
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      4.16 Acres

      Hoffman Estates Commercial Land Parcel

      Prime Cook County commercial land for sale.
      0 9.03 – 4.16 Together, Hoffman Estates, IL 60169
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    • $3,800,000

      7.24 Acre Development Land

      7.24 acre commercial land ready for development.
      2300 W Higgins Rd, Hoffman Estates, IL 60169
      View Details
    • $3,800,000
      7 SF

      Development Land in Hoffman Estates

      7.24-acre land parcel ready for development in Hoffman Estates, IL.
      2350 W Higgins Rd, Hoffman Estates, IL 60169
      View Details

    Similar Nearby for Lease

    • $2 SF/Yr
      52,905 SF

      High Visibility Hoffman Estates Pads

      Prime Retail Pad, 52,905 SF, Cook County
      2360 Higgins Rd, Hoffman Estates, IL 60169
      View Details
    • Contact for pricing

      Retail Space in Busy Center

      3300 SqFt retail space in a busy Hoffman Estates center.
      1015 W Golf Rd, Hoffman Estates, IL 60169
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    • Contact for pricing
      1,357 SF

      South Barrington Retail Space Available

      Open-air lifestyle center with shopping, dining, and entertainment options.
      100 W Higgins Rd, South Barrington, IL 60169
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    • Contact for pricing
      10,150 SF

      Retail Space in Hoffman Estates

      Retail space for lease anchored by Mariano's Fresh Market.
      2503-2577 W Golf Rd, Hoffman Estates, IL 60169
      View Details
    • Contact for pricing
      2,985 SF

      Versatile Space in Hoffman Estates

      Adaptable space suitable for various business types in a prime location.
      2304-2350 W Higgins Rd, Hoffman Estates, IL 60169
      View Details
    • Contact for pricing

      Retail Space in Busy Center

      3300 SqFt retail space in a busy Hoffman Estates center.
      1013 W Golf Rd, Hoffman Estates, IL 60169
      View Details
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    Hoffman Estates, IL 60169
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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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