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    1551 Busse Rd Elk Grove Village, IL 60007
    Property profile & analytics

    1551 Busse Rd Elk Grove Village, IL 60007

    View on Map
    • Neighborhood centers
    • 4,500 SF
    Off-Market
    Property ID
    US28-5904043
    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

    • Bacci Pizzeria / Restaurant
    • Potbelly / Take-out & Catering

    Property Details for 1551 Busse Rd

    Property size
    4,500 SF
    Property type
    Neighborhood centers
    Property subtype
    Community centers

    Description

    This exceptional retail opportunity is located at 1551 Busse Road in Elk Grove Village, Illinois, within a newly constructed, 4,500 square foot neighborhood center. The property boasts excellent visibility at the highly trafficked intersection of Busse Road and Greenleaf Avenue. A significant advantage is its proximity to a Starbucks, ensuring high foot traffic and brand recognition. Across the street, the presence of a Portillo's further enhances the location's appeal and draws a substantial customer base. The available space totals 2,100 square feet, perfect for a variety of retail uses. The building features multiple suites, offering flexibility for potential tenants. This prime location offers unparalleled convenience, situated less than five miles from O'Hare International Airport and just over a mile from I-390, providing easy access for both customers and employees. The property is in Cook County, Illinois, and has a zip code of 60007. This is a rare opportunity to secure a retail space in a thriving, high-visibility location with excellent access to major transportation arteries and surrounded by established businesses. The property is ready for immediate occupancy.

    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
    Elk Grove Village
    County
    Cook
    State
    Illinois
    Longitude
    -87.958942481042
    Latitude
    42.003602325826

    Comparable in this City

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      Retail Space in Business Park

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      Retail Space in Established Center

      Retail space available in highly visible, established Elk Grove Village center.
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      Elk Grove Village Retail Space

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      Retail Space Near Business Park

      Retail space near Elk Grove Village Business Park for rent.
      565 Landmeier Rd, Elk Grove Village, IL 60007
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    Similar Nearby for Lease

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      Retail Space in Elk Grove

      Recently renovated retail space with market-leading anchor tenants.
      801-901 Meacham Rd, Elk Grove Village, IL 60007
      View Details
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      Retail Space in Elk Grove

      Shopping center at signalized intersection in a densely populated area.
      2-12 E Devon Ave, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
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      Elk Grove Village Retail Space

      Versatile space with showroom in Elk Grove Village.
      Elk Grove Rd, Elk Grove Village, IL 60007
      View Details
    • $15 SF/Yr
      895 SF

      Retail Space in Established Center

      Retail space available in highly visible, established Elk Grove Village center.
      601 Meacham Rd, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
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      Retail Space in Business Park

      Retail space with high visibility in a business park.
      202-222 E Devon Ave, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
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      Retail Space Near Business Park

      Retail space near Elk Grove Village Business Park for rent.
      565 Landmeier Rd, Elk Grove Village, IL 60007
      View Details

    Property Visit Statistics

    • Visits by month
      16.6k
    • Visitors by month
      8.6k
    • Avg Time on site
      8 min
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    Elk Grove Village, IL 60007
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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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    1551 Busse Rd, Elk Grove Village, IL, 60007
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