846-860 Algonquin Rd Schaumburg, IL 60173
- Retail properties
- 156,963 SF
- 12.64 lot acres
Current Use by Public Records
- Retail properties
Property Details for 846-860 Algonquin Rd
- Lot size
- 12.64 lot acres
- Property size
- 156,963 SF
- Property type
- Retail properties
- Property subtype
- Restaurants
Description
This exceptional 12.64-acre redevelopment site in Schaumburg, Illinois, presents a compelling investment opportunity. Located at 846-860 E Algonquin Rd, 60173, this B-3 zoned property boasts 156,963 square feet of existing improvements, encompassing four office buildings currently generating approximately $708,000 in gross annual income from short-term leases. The property's strategic location near the Motorola and Zurich campuses, I-90, and Meacham Road offers unparalleled access to a thriving business community and robust consumer base. The site's zoning allows for diverse redevelopment options, including multifamily (potential for 400 units), townhomes, retail, restaurant, or office space. Adjacent properties zoned R-6 further enhance the development potential. The existing buildings could be rehabilitated and re-tenanted, providing immediate income while long-term redevelopment plans are implemented. This prime location within the Woodfield Regional Center, subject to its design review, ensures visibility and accessibility to a wide range of businesses and residents. The asking price for this significant redevelopment opportunity is $14,000,000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Schaumburg
- County
- Cook
- State
- Illinois
- Longitude
- -88.0582
- Latitude
- 42.0743
