1506 Algonquin Rd, Palatine, IL 60067
This exceptional restaurant space, totaling 2,000 square feet, is available for lease in the thriving Schaumburg submarket of Cook County. Situated within Harper Plaza, a newer construction center boasting high traffic counts, this property offers a fully equipped commercial kitchen ideal for a variety of culinary ventures. The space is divisible, with a minimum leasable area of 1,000 square feet, providing flexibility for different business needs. The location benefits from its prime position on Algonquin Road, just a short distance from Harper College, ensuring high visibility and accessibility. With ample parking (85 spaces) available for patrons and staff, convenience is a key feature. The property sits on a 2.09-acre lot and is zoned B-2, catering to commercial uses. The surrounding area, encompassing Hoffman Estates, Palatine, and Inverness, represents a rapidly growing population base within the I-90 corridor, a region experiencing significant development and an expanding tenant mix. This presents a unique opportunity for businesses to capitalize on a vibrant and expanding market. The property's strategic location and modern amenities make it an attractive option for restaurant operators seeking a well-equipped space in a high-traffic area.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.