Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1515 Randall Rd Algonquin, IL 60102
    Back to Search
    Property profile & analytics

    1515 Randall Rd, Algonquin, IL 60102

    View on Map
    • Retail properties & Spaces
    • 67,468 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 1515 Randall Rd

    Year built
    2008
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    This exceptional 1,700 square foot retail storefront is located within the Algonquin Galleria, a 67,468 square foot retail center built in 2008. Situated at 1515 S Randall Rd, Algonquin, IL 60102, this space offers a fantastic opportunity for businesses seeking high visibility and convenient access. The property boasts ample parking, ensuring ease of access for customers. The space is currently vacant and ready for immediate occupancy. The zoning is B2 PUD, allowing for a variety of retail uses. The building's electrical service is 100 Amp. This location is in Kane County, Illinois, and benefits from the high traffic volume associated with its prime Randall Road location. The space is part of a multi-tenant building, providing a vibrant and bustling atmosphere. This is an ideal opportunity for a retailer looking to establish or expand their presence in a thriving community. The space's size and location make it suitable for a wide range of retail businesses. Contact us today to learn more about this exceptional retail opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Algonquin
    County
    Kane
    State
    Illinois
    Longitude
    -88.335
    Latitude
    42.1529

    Comparable in this City

    • Value Estimation by Request
      10,440 SF

      252 Randall Rd

      Individual retail properties
      252 Randall Rd, Algonquin, IL 60102
      View Details
    • Value Estimation by Request
      20,400 SF

      175215 Randall Rd

      Power centers
      175215 Randall Rd, Algonquin, IL 60102
      View Details
    • Value Estimation by Request
      16,500 SF

      1201-1231 Main St

      Retail properties & Spaces
      1201-1231 Main St, Algonquin, IL 60102
      View Details
    • Value Estimation by Request
      4.75 Acres

      Sec Randall Rd And Longmeadow Pkwy

      Lifestyle centers
      0 Sec Randall Rd And Longmeadow Pkwy, Algonquin, IL 60102
      View Details
    • Value Estimation by Request
      10,440 SF

      252 Randall Rd

      Retail properties & Spaces
      252 Randall Rd, Algonquin, IL 60102
      View Details
    • Value Estimation by Request

      702 Randall Rd

      Retail properties & Spaces
      702 Randall Rd, Algonquin, IL 60102
      View Details

    Similar Nearby for Sale

    • $750,000
      0.20 Acres

      Vintage Algonquin Commercial Space

      Historic 1893 building with versatile commercial space in Algonquin.
      302 S Main St, Algonquin, IL 60102
      View Details
    • Contact for pricing
      0.20 Acres

      Downtown Algonquin Commercial Space Available

      Commercial space in downtown Algonquin's historic district, suitable for retail.
      302 S Main St, Algonquin, IL 60102
      View Details
    • Contact for pricing
      2,566 SF

      Retail Unit with Ample Parking

      2,566 SF retail unit suitable for various businesses.
      2302-2320 Esplanade Dr, Algonquin, IL 60102
      View Details
    • Contact for pricing
      6,970 SF

      Freestanding Red Robin Investment Property

      NNN leased Red Robin with rental increases in Algonquin, Illinois.
      441 S Randall Rd, Algonquin, IL 60102
      View Details
    • $250,000
      0.18 Acres

      Turn-Key Pizzeria in Algonquin, IL

      Fully operational Neapolitan pizzeria for sale in downtown Algonquin.
      123 S Main St, Algonquin, IL 60102
      View Details
    • $1,100,000

      Established Restaurant with Outdoor Dining

      Well-established 6,000 sq ft restaurant with liquor license.
      999 Confidential, Algonquin, IL 60102
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,920 SF

      Algonquin Retail Space For Rent

      Retail storefronts available in high-visibility Algonquin strip center.
      1107-1125 S Main St, Algonquin, IL 60102
      View Details
    • Contact for pricing
      6,500 SF

      Algonquin Road Retail/Office Space

      6,500 SF space suitable for retail or office use.
      2025-2035 E Algonquin Rd, Algonquin, IL 60102
      View Details
    • Contact for pricing
      1,300 SF

      Retail Space in Regional Corridor

      Retail space with high visibility in a shopping corridor.
      2531 W Algonquin Rd, Algonquin, IL 60102
      View Details
    • New
      Contact for pricing

      Historic Building with Full Basement

      Built in 1893 with Main Street frontage and a full basement, offering flexible space for retail, restaurant, or office use.
      115 S Main St, Algonquin, IL 60102
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space on Main Street

      Retail space with high visibility and ample parking available.
      1201-1231 S Main St, Algonquin, IL 60102
      View Details
    • Contact for pricing
      1,507 SF

      Retail Space on Algonquin Road

      Retail building with two available units in Algonquin, Illinois.
      501-515 E Algonquin Rd, Algonquin, IL 60102
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1515 Randall Rd
    Algonquin, IL 60102
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1515 Randall Rd, Algonquin, IL, 60102
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!