Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1628 Central Rd, Unit 100 Arlington Heights, IL 60005-2407

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1628 Central Rd, Unit 100 Arlington Heights, IL 60005-2407

    View on Map
    • Office properties & Spaces
    • 0.57 lot acres
    Off-Market
    Property ID
    US28-0920229
    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

    • Office properties & Spaces

    Property Details for 1628 Central Rd

    Year built
    2007
    Lot size
    0.57 lot acres
    Property type
    Office properties & Spaces
    APN
    03-31-302-022-1001
    APU
    3313020221001

    Description

    This exceptional 7,000-square-foot medical office building is ideally situated in Arlington Heights, Illinois, at 1628 W Central Rd, 60005, just blocks from Northwest Community Hospital. Built in 2007 and renovated in 2021, this two-story freestanding building offers a single-tenant occupancy. The property boasts a convenient elevator, ample parking for 40 vehicles, and a common area entry. The building sits on a half-acre lot (0.5 acres) and features approximately 3,500 square feet on each of the two floors, plus an additional 1,450 square feet of basement space (totaling approximately 8,455 square feet). The property's prime location in the medical district ensures high visibility, enhanced by street signage on Central Road. The interior has undergone recent updates, reflecting a commitment to modern functionality and aesthetics. Cook County APN: 03-31-302-022-1001. Currently fully occupied.

    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
    -88.0015
    Latitude
    42.0671
    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
    $21,992
    $46,365
    $37,046
    $83,411
    -
    $185,460
    $148,184
    $333,644

    Comparable in this City

    • Value Estimation by Request
      0.77 Acres

      171 Wing St Ste, Unit 202

      CONDOMINIUM OFFICES • 0.77 Acres
      171 Wing St Ste, Arlington Heights, IL 60005-5812
      View Details
    • Value Estimation by Request
      0.77 Acres

      171 Wing St Ste, Unit 210

      CONDOMINIUM OFFICES • 0.77 Acres
      171 Wing St Ste, Arlington Heights, IL 60005-5812
      View Details
    • Value Estimation by Request
      0.50 Acres

      111 Campbell St Ste, Unit 301

      CONDOMINIUM OFFICES • 0.50 Acres
      111 Campbell St Ste, Arlington Heights, IL 60005-1406
      View Details
    • Value Estimation by Request

      580 Arthur Ave

      CONDOMINIUM OFFICES
      580 Arthur Ave, Arlington Heights, IL 60005-2141
      View Details
    • Value Estimation
      $925,000
      0.50 Acres

      111 Campbell St Ste, Unit 401

      CONDOMINIUM OFFICES • 0.50 Acres
      111 Campbell St Ste, Arlington Heights, IL 60005-1406
      View Details
    • Value Estimation by Request
      36,671 SF

      3150 Salt Creek Ln

      Office properties & Spaces • 36,671 SF
      3150 Salt Creek Ln, Arlington Heights, IL 60005
      View Details

    Similar Nearby for Sale

    • $995,000

      Arlington Heights Office Building For Sale

      Well-maintained office building with income potential in high-traffic location.
      505 E Golf Rd, Arlington Heights, IL 60005
      View Details
    • $925,000
      21,780 SF

      +-21780 SF Office Building For Sale

      +-21780 SF Office Building For Sale
      204 W Wing Street, Arlington Heights, IL 60005
      View Details
    • $2,495,000

      Arlington Heights Office Building

      36,671 SF office building near Route 53 and Euclid Avenue.
      3150 W Salt Creek Ln, Arlington Heights, IL 60005
      View Details
    • $995,000
      8,000 SF

      Commercial Building in Arlington Heights

      Well-maintained commercial building with income potential in high-traffic area.
      505 E Golf Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      62,537 SF

      Arlington Heights Office Property

      Office property with easy access to I-53.
      3395 N Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • $2,495,000
      36,671 SF

      Arlington Heights Single-Story Office Building

      36,671 SF office building on 3.21 acres, built in 1980.
      3150 Salt Creek Ln, Arlington Heights, IL 60005
      View Details

    Similar Nearby for Lease

    • $14 SF/Yr
      62,537 SF

      Arlington Heights Executive Offices

      Prime Office Space, 10,360 SF Available
      3395 Arlington Hts Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Adaptable Office Space Available

      Up to 150,000 SF of adaptable office space for rent.
      155 E Algonquin Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Medical Suites in Arlington Heights

      Move-in ready medical suites available for lease near Northwest Hospital.
      2010 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Move-in Ready Clinical Space

      High-volume patient care space near hospitals and new developments.
      825 E Golf Rd, Arlington Heights, IL 60005
      View Details
    • $1.00 SF/Yr

      Arlington Heights Office and Showroom

      Professionally managed office and showroom building in downtown Arlington Heights.
      116 S Arlington Heights Rd, Arlington Heights, IL 60005
      View Details
    • Contact for pricing

      Class A Medical Office Space

      Adaptable medical office space with high visibility and convenient location.
      155 E Algonquin Rd, Arlington Heights, IL 60005
      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.
    1628 Central Rd, Unit 100
    Arlington Heights, IL 60005-2407
    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.
    Sign Up Successful!
    You now have access to more from Realmo!