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    1659 Algonquin Rd Algonquin, IL 60102
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    1659 Algonquin Rd Algonquin, IL 60102

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    • Land
    • 3.00 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1659 Algonquin Rd

    Lot size
    3.00 lot acres
    Property type
    Land
    Property subtype
    Farms

    Description

    This exceptional property, encompassing 3 to 49 acres, presents a remarkable opportunity for diverse development projects. Located at 1659 E Algonquin Rd, Algonquin, IL 60102, in McHenry County, this infill site offers unparalleled potential. Its zoning allows for a wide range of uses, including townhomes, duplexes, single-family homes, multi-family residential buildings, apartments, senior housing (independent living, assisted living, memory care, and nursing homes), and various commercial ventures. The property's versatility makes it an attractive investment for developers seeking to capitalize on the growing demand for housing and commercial space in the area. The site's proximity to key transportation arteries further enhances its appeal. Approximately one mile south on Sandbloom Road, the Longmeadow Parkway (currently under construction) will provide convenient access to Randall Road (west) and Route 62 (east), significantly improving connectivity and accessibility. The seller is open to considering the sale of a portion of the property, offering flexibility for developers with varying project scopes. This development-ready land is poised for immediate action, presenting a unique chance to create a thriving community or commercial hub. The property is ready for development and offers significant potential for substantial returns.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Algonquin
    County
    McHenry
    State
    Illinois
    Longitude
    -88.274
    Latitude
    42.1578

    Comparable in this City

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      Algonquin Rd At Sq Barn Rd

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      3.03 Acres

      Swc Of Algonquin Rd & Hanson Rd

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      0 Swc Of Algonquin Rd & Hanson Rd, Lake in the Hills, IL 60102
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      Randall Rd & Harnish Dr

      Land • 45.40 Acres
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      0.24 Acres

      19 Birch St

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      0.50 Acres

      108 Arrowhead Dr

      Land • 0.50 Acres
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      7,200 SF

      15 Hanson Rd

      Distribution properties • 7,200 SF
      15 Hanson Rd, Algonquin, IL 60102
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    Similar Nearby for Sale

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      Land for Development

      Land suitable for single-family, multi-family, senior housing, commercial uses.
      1659 E Algonquin Rd, Algonquin, IL 60102
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      3.03 Acres Vacant Land

      Vacant land available for development on 3.03 acres.
      Swc Of Algonquin Rd & Hanson Rd, Algonquin, IL 60102
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    • $280,000
      0.16 Acres

      Historic Algonquin Office Building For Sale

      Two-unit commercial office building in Algonquin's historic district.
      329 Jefferson St, Algonquin, IL 60102
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      Development Site on Randall Road

      Last 5-acre site near Algonquin Commons.
      Sec Randall Rd And Longmeadow Pkwy, Algonquin, IL 60102
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      Commercial Corner Lot For Sale

      2.2 acre commercial corner lot with high traffic volume.
      600 E Algonquin Rd, Algonquin, IL 60102
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    Similar Nearby for Lease

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      Algonquin Land Ready For Development

      1.01 acre lot ideal for restaurant, retail, or medical.
      2310 S Randall Rd, Algonquin, IL 60102
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      Commercial Outlot Pad Opportunities

      New commercial land available for build-to-suit, lease, or sale.
      2400 Millbrook Dr, Algonquin, IL 60102
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      Medical Office Condo Available

      Medical office condo in Algonquin, available 3rd Quarter 2024.
      1474 Merchant Dr, Algonquin, IL 60102
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      Retail Spaces in Fox River

      Established shopping center with spaces for lease in Algonquin, IL.
      1201-1231 S Main St, Algonquin, IL 60102
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      Retail Space in Power Center

      Retail space available in a busy power center.
      702 S Randall Rd, Algonquin, IL 60102
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    1659 Algonquin Rd
    Algonquin, IL 60102
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    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
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    1659 Algonquin Rd, Algonquin, IL, 60102
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