1301 American Ln Schaumburg, IL 60173
- Retail space
- 4.28 lot acres
Current Use by Public Records
- SREE ANANDA VILAS / Restaurant
- Schaumburg Indian Grill Bar & Banquet / Indian Restaurant / Banquet Hall
- Schaumburg Banquet / Banquet Hall
- Grillhouse by David Burke / Bar / Banquet Hall
Property Details for 1301 American Ln
- Year built
- 2004
- Lot size
- 4.28 lot acres
- Property type
- Retail space
- APN
- 07-13-101-014
- APU
- 713101014
Description
This exceptional commercial property at 1301 American Lane in Schaumburg, Illinois, presents a unique investment opportunity. The existing 22,668 square foot building currently functions as a restaurant and banquet facility, offering significant potential for redevelopment or continued operation in its current format. Situated on a substantial 4.28-acre lot, the property boasts 265 surface parking spaces, ensuring ample convenience for patrons and employees. The B-3 zoning allows for a wide range of potential uses, including entertainment venues, medical offices, hotels, veterinary clinics, schools, preschools, banquet halls, and restaurants. With over 400 feet of frontage along American Lane, the property enjoys high visibility and accessibility. Its strategic location in the heart of a super regional trade area, just steps from one of Chicago's premier shopping malls, guarantees a strong customer base and significant foot traffic. This property offers a rare combination of size, location, and zoning flexibility, making it an ideal investment for discerning buyers seeking a high-return opportunity in a thriving market. The Cook County address, zip code 60173, and precise coordinates (latitude 42.0473385552826, longitude -88.04777761867767) further define this exceptional offering.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $1,870,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,780,000
- 6.5%
- $2,775,000
- 7%
- $2,640,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,195,000
- Geo Method
- $2,685,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $2,045,000
- Retail
- $2,155,000
- Mixed-Use
- $2,640,000
- Hospitality
- $2,440,000
- Educational
- $2,020,000
- Residential Income
- $2,525,000
- Energy
- $2,735,000
- Income-Based Land
- $1,985,000
- Food Service
- $2,540,000
Location Insight
- Map
- Local Demand
- City
- Schaumburg
- County
- Cook
- State
- Illinois
- Longitude
- -88.0477
- Latitude
- 42.0468
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
