Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1321 Tower Rd Schaumburg, IL 60173-4384

    • Retail space
    OFF-MARKET
    Last Sale
    Feb 24, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-4165163
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • balloonsinuplastychicago.com / Medical Clinic / Surgeon
    • Chicago Neo Graft / Laser Hair Removal Service
    • Chicago - Stop Snoring : Snore Cures / Medical Spa / Skin Care Clinic
    • WaterLipoChicago.com / Surgical Center
    • Chicago Liposuction / Cosmetic Surgeon

    Property Details for 1321 Tower Rd

    Property type
    Retail space
    APN
    07-12-300-040
    APU
    712300040

    Description

    This exceptional 5,890-square-foot medical office building in Schaumburg offers a unique leasing opportunity. The space, previously occupied by a liposuction clinic, boasts a complete medical build-out, including five exam rooms with plumbing, a lab area, reception area, private offices, and a kitchen. The property features many recent upgrades and is conveniently located at the southwest corner of Tower Road and Meacham Road, placing it near Woodfield Mall and major transportation arteries like Route 53 and I-90. Tenants enjoy the benefits of tenant-controlled HVAC, 24-hour access, and readily available Comcast high-speed internet and cable. Ample onsite parking is available via an access agreement. The building offers prominent monument signage and additional tenant signage opportunities. The B-2 zoning allows for a variety of uses, including medical practices, personal training studios, general office spaces, showrooms, and medical spas. The entire 5,890 square feet is currently vacant and available for lease. A significant rent reduction has been implemented, with modified gross rent now priced at $18-$20 per square foot. This presents a compelling opportunity for businesses seeking a well-appointed, high-visibility location in a thriving commercial district.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Schaumburg
    County
    Cook
    State
    Illinois
    Longitude
    -88.0464
    Latitude
    42.0562
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $66,723
    $65,505
    $180,123
    $245,628
    -
    $262,020
    $720,492
    $982,512

    Comparable in this City

    • Value Estimation
      $275,000
      4.36 Acres

      830 Golf Rd

      RETAIL STORES (PERSONAL SERVICES) • 4.36 Acres
      830 Golf Rd, Schaumburg, IL 60173-4565
      View Details
    • Value Estimation by Request

      1300 Meacham Rd

      RETAIL STORES (PERSONAL SERVICES)
      1300 Meacham Rd, Schaumburg, IL 60173-4806
      View Details
    • Value Estimation
      $295,000
      1.92 Acres

      1385 Meacham Rd

      RETAIL STORES (PERSONAL SERVICES) • 1.92 Acres
      1385 Meacham Rd, Schaumburg, IL 60173-4805
      View Details
    • Value Estimation
      $310,000
      5.84 Acres

      865 Penny Ln

      RETAIL STORES (PERSONAL SERVICES) • 5.84 Acres
      865 Penny Ln, Schaumburg, IL 60173
      View Details
    • Value Estimation
      $280,000
      4.49 Acres

      1930 Thoreau N Dr

      RETAIL STORES (PERSONAL SERVICES) • 4.49 Acres
      1930 Thoreau N Dr, Schaumburg, IL 60173-4181
      View Details
    • Value Estimation by Request

      Schaumburg, IL 60173

      RETAIL STORES (PERSONAL SERVICES)
      Schaumburg, IL 60173
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Schaumburg Retail Center Investment Opportunity

      Prime Schaumburg location, 22,668 SF, 4.28 acres.
      1301 American Ln, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      8,750 SF

      Turnkey Restaurant and Banquet Facility

      Turnkey restaurant and banquet facility near Woodfield with massive patio.
      680 Mall Dr, Schaumburg, IL 60173
      View Details
    • Contact for pricing

      Existing Restaurant Near Woodfield Mall

      22,668 SF restaurant on 4.28 acres, near Woodfield Mall.
      1301 American Ln, Schaumburg, IL 60173
      View Details
    • $14,000,000
      12.64 Acres

      Schaumburg Redevelopment Opportunity

      12.6-acre site, high potential.
      846-860 Algonquin Rd, Schaumburg, IL 60173
      View Details
    • $2,745,600
      6,103 SF

      IHOP NNN Lease Investment

      NNN leased IHOP with established sales history and rent increases.
      1700 E Higgins Rd, Schaumburg, IL 60173
      View Details
    • $275,000
      960 SF

      Schaumburg Office Condo - Great Location

      Spacious office suite, ideal for various uses.
      800 Woodfield Rd, Schaumburg, IL 60173
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,428 SF

      Dominant Retail Center Space Available

      Retail space in a dominant center with high visibility.
      1209-1253 E Golf Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      163,000 SF

      Prime Retail Space in Schaumburg

      High-traffic retail destination with affluent demographics and easy access.
      890 Perimeter Dr, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      5,000 SF

      Schaumburg Retail/Restaurant Pad Site

      Schaumburg outlot pad site with new construction retail/restaurant building.
      1870 E Golf Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      3,500 SF

      Retail Space in Schaumburg Center

      Retail space available in a dynamic suburban Chicago shopping center.
      16 E Golf Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      7,624 SF

      Retail Space Near Woodfield Mall

      Premier lifestyle center with high visibility and strong demographics.
      601 N Martingale Rd, Schaumburg, IL 60173
      View Details
    • Contact for pricing
      1,840 SF

      Retail Building Near Woodfield Mall

      Retail building with pylon signage near a major shopping center.
      780 W Golf Rd, Schaumburg, IL 60173
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1321 Tower Rd
    Schaumburg, IL 60173-4384
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.