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    Randall Rd & Harnish Dr Lake in the Hills, IL 60102

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    Randall Rd & Harnish Dr Lake in the Hills, IL 60102

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

    Current Use by Public Records

    • Land

    Property Details for 0 Randall Rd & Harnish Dr

    Lot size
    20.00 lot acres
    Property type
    Land

    Description

    This exceptional 20-acre commercial land parcel, situated at the intersection of S Randall Rd and Harnish Dr in Lake in the Hills, IL (zip code 60102), presents a remarkable investment opportunity. Already approved for the construction of 325 apartment units, this site boasts significant development potential. Conveniently located west of the Algonquin Commons Shopping Center, the property benefits from its proximity to the vibrant Randall Road Corridor, offering easy access to a wealth of retail, dining, and entertainment options. Randall Road boasts impressive traffic counts, averaging 43,700 vehicles daily, ensuring high visibility and accessibility for future residents. Infrastructure is largely in place

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Lake in the Hills
    County
    Mchenry
    State
    Illinois
    Longitude
    -88.3355
    Latitude
    42.1611

    Comparable in this City

    • Value Estimation by Request
      3.00 Acres

      1659 Algonquin Rd

      Farms • 3.00 Acres
      1659 Algonquin Rd, Algonquin, IL 60102
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    • Value Estimation by Request

      Algonquin Rd At Sq Barn Rd

      Land
      0 Algonquin Rd At Sq Barn Rd, Algonquin, IL 60102
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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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    • Value Estimation by Request
      3.03 Acres

      Swc Of Algonquin Rd & Hanson Rd

      Land • 3.03 Acres
      0 Swc Of Algonquin Rd & Hanson Rd, Lake in the Hills, IL 60102
      View Details
    • Value Estimation by Request
      4.75 Acres

      Randall Rd

      Land • 4.75 Acres
      0 Randall Rd, Algonquin, IL 60102
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    • Value Estimation by Request

      - Lots 9 & 11 Swc Of Randall & Corporate Pkwy

      Land
      - Lots 9 & 11 Swc Of Randall & Corporate Pkwy, Algonquin, IL 60102
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      3.03 Acres Vacant Land

      Vacant land available for development on 3.03 acres.
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    • Contact for pricing

      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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      20.25 Acres at Randall Road

      20.25 acres with visibility at Randall and Big Timber.
      Randall Rd, Elgin, IL 60102
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      Commercial Lot on Algonquin Road

      Zoned B-1, suitable for restaurant, office, medical, or daycare.
      900 E Algonquin Rd, Algonquin, IL 60102
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      Development Site on Randall Road

      Prime commercial land for development near Algonquin Commons.
      Randall Rd, Dundee, IL 60102
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      0.20 Acres

      Residential Lot in Fairway View

      Residential lot with walk-out basement potential in Fairway View.
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    Similar Nearby for Lease

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      Commercial Outlot Pad Opportunities

      New commercial land available for build-to-suit, lease, or sale.
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      Retail Space Inside Meijer Store

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      400 S Randall Rd, Algonquin, IL 60102
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      1,600 SF

      Retail Space on Randall Road

      Retail space with high visibility and monument signage available for lease.
      261-275 S Randall Rd, Elgin, IL 60102
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      116,222 SF

      Algonquin Warehouse Near I-90

      116,222 sqft warehouse/distribution space, 4 miles from I-90.
      3001 Broadsmore Dr, Algonquin, IL 60102
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    • Contact for pricing

      Anchor Retail Space For Lease

      Anchor retail space available for lease.
      1561 S Randall Rd, Algonquin, IL 60102
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      10,890 SF

      Algonquin Office Space Available

      Second floor office with private offices and bathroom for rent.
      329 Jefferson St, Algonquin, IL 60102
      View Details
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    Randall Rd & Harnish Dr
    Lake in the Hills, 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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