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Property profile & analytics
OFF-MARKET
Office Spaces

1623 Colonial Pkwy 7 Inverness, IL 60067-1222

9.19 ac lot Built 1989
Entity Owned ~ Est. High Equity
Property ID
US28-1385696
Property summary
AI-generated overview

This exceptional two-story retail building, located at 1623 Colonial Parkway in Inverness, Illinois, presents a compelling investment opportunity. Boasting 5,330 square feet, the property is situated on a highly visible lot across from Harper College and features ample parking (3 spaces per 1,000 sq ft). The building, constructed in 1983, is zoned B-1/Business B2 and offers a versatile layout. The first floor encompasses 2,085 square feet, currently owner-occupied, while the second floor (1,160 sq ft) is leased. An additional 2,085 square feet of leased space is available in the fully finished lower level. Interior features include several private offices, a large executive conference room, four washrooms, and a kitchenette. The asking price is $425,000, translating to $80 per square foot. Currently, the occupancy rate is 25%, with a modified lease in place for two years. The property benefits from a convenient location, less than two miles from the I-90/Roselle Road interchange and less than five miles from Woodfield Mall. Additional features include a natural gas generator and a picturesque pond view. This property offers significant potential for growth and return on investment. The building is serviced by ComEd (200-amp service).

Property profile
Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 1989
Lot 9.19 ac (400,316 SF)
APN 02-28-301-068-1005
UPID US28-1385696
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
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by Request
Owner & transaction history
Atlas Real Estate Group LLC
Atlas Real Estate Group LLC
since 2025
Last sale
$485,000
3 recorded transactions
2025
$485,000
2006
Price N/A
1999
$400,001
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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