Property profile

1506 Algonquin Rd Palatine, IL 60067

OFF-MARKET
Restaurants
2,000 SF 2.09 ac lot
Saved · see the list in your Dashboard

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

Location

1506 Algonquin Rd Palatine, IL 60067
Palatine metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
by Request

Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1506 Algonquin Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
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