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    1505 Arlington Hts Rd Arlington Heights, IL 60005
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    Property profile & analytics

    1505 Arlington Hts Rd, Arlington Heights, IL 60005

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    • Commercial real estate
    Off-Market
    Property ID
    US28-2719466
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1505 Arlington Hts Rd

    Property type
    Commercial real estate

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jul 2, 2025 $2,250,000 D2ps LLC 1505 Arlington Heights Corporation Special Warranty Deed —

    Description

    This exceptional 4.6-acre parcel located at 1505 S. Arlington Heights Rd, Arlington Heights, IL 60005, presents a compelling development opportunity. Situated in Cook County, this property boasts a strategic location along Arlington Heights Road, offering excellent visibility and accessibility. Currently zoned R-1, the land is surrounded by attractive residential properties, yet enjoys proximity to a thriving commercial corridor. This presents a unique chance to capitalize on the existing residential context while exploring the potential for rezoning to accommodate a commercial development. The site's 4.6 acres provide ample space for a variety of projects, making it an attractive investment for developers seeking a prime location with significant upside. The latitude and longitude coordinates are 42.056708, -87.980534 respectively. Given its location and potential for rezoning, this property offers a rare blend of residential tranquility and commercial viability. Serious inquiries are encouraged to explore the possibilities this exceptional land parcel offers. The property is classified as commercial land.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.980534
    Latitude
    42.056708

    Comparable in this City

    • $450,000
      0.49 Acres

      Residential Lot in Arlington Heights

      Buildable lot near Metra, shopping, dining, and library.
      717 S Arlington Heights Rd, Arlington Heights, IL 60005
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      Industrial land with easy access to I-90 and O'Hare.
      2531 E Oakton St, Arlington Heights, IL 60005
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      Development Site Near Arlington Racecourse

      2.55 acre development site near Arlington Racecourse.
      3025 Salt Creek Ln, Arlington Heights, IL 60005
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      Arlington Heights Land Opportunity

      Land suitable for corporate headquarters near transportation and expressways.
      3025 Salt Creek Ln, Arlington Heights, IL 60005
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      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in doors.
      501-571 W Golf Rd, Arlington Heights, IL 60005
      View Details

    Similar Nearby for Sale

    • $450,000
      0.49 Acres

      Residential Lot in Arlington Heights

      Buildable lot near Metra, shopping, dining, and library.
      717 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Industrial Land Near O'Hare Airport

      Industrial land with easy access to I-90 and O'Hare.
      2531 E Oakton St, Arlington Heights, IL 60005
      View Details
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      Development Site Near Arlington Racecourse

      2.55 acre development site near Arlington Racecourse.
      3025 Salt Creek Ln, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Arlington Heights Land Opportunity

      Land suitable for corporate headquarters near transportation and expressways.
      3025 Salt Creek Ln, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Flex Warehouse Space Available

      Flex/warehouse space for lease with loading docks and drive-in doors.
      501-571 W Golf Rd, Arlington Heights, IL 60005
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Arlington Heights Warehouse and Showroom

      Warehouse and showroom space available for rent in Arlington Heights.
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      104,394 SF

      Industrial Property Near I-90 Access

      Industrial property with immediate I-90 access and parking expansion.
      435 E Algonquin Rd, Bridgeview, IL 60005
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      17,023 SF

      Office Space with Open Layout

      Office space featuring an open layout and building amenities.
      85 W Algonquin Rd, Arlington Heights, IL 60005
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      1,506 SF

      Arlington Heights Office Space Available

      200 square feet of office space for lease.
      617 E Golf Rd, Arlington Heights, IL 60005
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    • $17 SF/Yr

      Professional Office Park For Rent

      Three-building office park with abundant parking and on-site storage.
      121 S Wilke Rd, Arlington Heights, IL 60005
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      2,797 SF

      Medical Office Space Near Hospital

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    Arlington Heights, IL 60005
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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.

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    1505 Arlington Hts Rd, Arlington Heights, IL, 60005
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