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    OFF-MARKET
    Restaurants

    1506 Algonquin Rd, Palatine, IL 60067

    2,000 SF 2.09 ac lot
    Property ID
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Restaurants
    Total area 2,000 SF
    Lot 2.09 ac (91,040 SF)
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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