864 Rand RdDes Plaines, IL 60016

Property Details for 864 Rand Rd

Year built

1935

Lot size

0.26 AC

Property type

Retail properties

Property subtype

Retail space

APN

09-08-300-003

APU

908300003

Description

This fee-simple retail storefront property, located at 864-866 Rand Road in Des Plaines, Illinois, presents a compelling redevelopment opportunity. The 1,700 square foot building sits on a 0.62-acre lot (27,057 square feet) and is currently occupied month-to-month. The property boasts excellent visibility and frontage on Rand Road (US Route 12), a major commercial corridor, at a signalized intersection with N 3rd Avenue. Its C-3 General Commercial zoning allows for diverse uses. The location offers convenient access to Golf Road (IL Route 58), E Northwest Highway (US Route 14), and the Cumberland Metra Station, all within a mile. Major highways (Interstates 294, 90, and 290) are easily accessible, as are Pace Bus routes 208, 221, and 234. The area is densely populated, with over 129,700 people within a 3-mile radius and an average household income exceeding $117,471. Within a 5-mile radius, this figure increases to over 308,900 people with an average household income of over $137,662. Nearby amenities include a mixed-use lifestyle center (Metropolitan Square), a Shop & Save grocery store, and numerous national retailers such as Walmart, Menard's, Mariano's, and more. Daily traffic on Rand Road exceeds 30,600 vehicles. This property is ideal for owner-occupancy, leasing as an investment, or significant redevelopment. The asking price is $795,000, with a land value of $29.38 per square foot. The building was constructed in 1935.

• CAP approach

  CAP return

  Valuation

  6%

  $2,981,264

  6.5%

  $2,751,936

  7%

  $2,555,369

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,873,577

  Geo Method

  $3,686,679

• Alternative Use

  Use

  Valuation

  Residential

  $2,321,361

  Hospitality

  $2,126,354

  Educational

  $1,769,102

  Medical

  $1,829,944

  Retail

  $2,751,936

Location Insight

City

Des Plaines

County

Cook

State

Illinois

Latitude

42.0573

Longitude

-87.9034

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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