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    Property profile & analytics

    2010 Arlington Hts Rd Arlington Heights, IL 60005

    • Retail space
    • 2.39 lot acres
    For Lease
    View listing
    $13 SF/Yr
    Last Sale
    Dec 27, 2021
    $3,000,000
    Value Estimations
    $3,425,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2799390
    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

    • 55 Gallon Drums Arlington Heights / Barrel Supplier
    • Shim Edward H DDS / Dentist
    • Judith M. Knipple, M.D. / Internist
    • Advanced Sleep Therapy / Medical Supply Store
    • Dr. James C. Chow, MD / Family Practice Physician

    Property Details for 2010 Arlington Hts Rd

    Year built
    1965
    Lot size
    2.39 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    08-16-200-071
    APU
    816200071

    Description

    This exceptional two-story, 38,534 square foot Class B medical office building at 2010 S Arlington Heights Rd, Arlington Heights, IL 60005, offers multiple suites for lease. The building features move-in ready, fully built-out suites ranging from 1,235 to 4,144 square feet, including options such as therapy, pediatric, and physician suites. Convenient amenities include an elevator, stairway, and an ADA-compliant ramp. The building enjoys a highly visible location on Arlington Heights Road, minutes from Northwest Community Hospital and less than half a mile from I-90 Expressway. This prime location offers excellent access and visibility within Arlington Heights, a thriving suburb of Chicago with a population of 82,400 (2010 Census). The building is already home to established medical tenants, including Nihon Medical Clinic, McNelis Family Eye Care, and Advanced Gyne-OB Associates, creating a strong medical community. The property's proximity to Golf Road and its easy access to I-90 provide unparalleled convenience for both patients and staff. This is an exceptional opportunity to establish or expand your medical practice in a vibrant and accessible location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,425,000
      ML approach
      $3,405,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Arlington Heights
    County
    Cook
    State
    Illinois
    Longitude
    -87.9834
    Latitude
    42.0484
    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
    $174,613
    $389,891
    $317,565
    $707,456
    -
    $1,559,564
    $1,270,260
    $2,829,824

    Comparable in this City

    • Value Estimation
      $405,000
      0.17 Acres

      1235 Davis St

      STORE, RETAIL OUTLET • 0.17 Acres
      1235 Davis St, Arlington Heights, IL 60005-2145
      View Details
    • Value Estimation
      $385,000
      0.11 Acres

      10 Dunton Ave

      STORE, RETAIL OUTLET • 0.11 Acres
      10 Dunton Ave, Arlington Heights, IL 60005-1426
      View Details
    • Value Estimation
      $440,000
      6.56 Acres

      3030 Salt Crk Ln

      STORE, RETAIL OUTLET • 6.56 Acres
      3030 Salt Crk Ln, Arlington Heights, IL 60005-5001
      View Details
    • Value Estimation
      $1,565,000
      2.75 Acres

      330 Algonquin Rd

      STORE, RETAIL OUTLET • 2.75 Acres
      330 Algonquin Rd, Arlington Heights, IL 60005-5320
      View Details
    • Value Estimation
      $685,000
      0.07 Acres

      10 Campbell St

      STORE, RETAIL OUTLET • 0.07 Acres
      10 Campbell St, Arlington Heights, IL 60005-1494
      View Details
    • Value Estimation
      $315,000
      0.22 Acres

      1300 Central Rd

      STORE, RETAIL OUTLET • 0.22 Acres
      1300 Central Rd, Arlington Heights, IL 60005-2857
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      27,712 SF

      Arlington Heights Retail Center For Sale

      Multi-tenant retail center with value-add opportunity in Arlington Heights, IL.
      1213-1221 E Rand Rd, Arlington Hts, IL 60005
      View Details
    • $1,200,000
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      Arlington Heights Commercial Opportunity

      Versatile commercial building with owner financing and high visibility.
      2407 E Oakton St E, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      2.55 Acres

      Arlington Heights Development Site

      Prime 2.55-acre commercial land, B-3 zoning.
      3025 Salt Crk Ln, Arlington Heights, IL 60005
      View Details
    • Contact for pricing
      14,000 SF

      Industrial Property in Established Park

      Seven-unit industrial property with easy access to major transportation routes.
      150 Elizabeth Dr, Arlington Hts, IL 60005
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    • $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
      36,671 SF

      Arlington Heights Office Building

      36,671 SF office building near Route 53 and Euclid Avenue.
      3150 W Salt Creek Ln, Arlington Hts, IL 60005
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,750 SF

      Arlington Heights Freestanding Retail Building

      Freestanding building in a high-traffic Arlington Heights location.
      1900 S Arlington Heights Rd, Arlington Hts, IL 60005
      View Details
    • $342 /Mo
      2,500 SF

      Arlington Heights Retail Space

      Prime Retail Space, Newly Renovated, High Visibility
      1050 Arlington Hts Rd, Arlington Heights, IL 60005
      View Details
    • $14 SF/Yr

      Retail Space in Strip Mall

      Retail space available for rent in a strip mall.
      256 E Algonquin Rd, Arlington Hts, IL 60005
      View Details
    • $17 SF/Yr

      Arlington Heights Office/Retail Space

      Office and retail spaces available for lease in Arlington Heights.
      115 S Wilke Rd, Arlington Hts, IL 60005
      View Details
    • Contact for pricing
      22,651 SF

      Retail Shopping Center For Rent

      Remodeled retail space with full finished basement in Arlington Heights.
      1013 S Arlington Heights Rd S, Arlington Hts, IL 60005
      View Details
    • Contact for pricing

      Arlington Heights Warehouse/Showroom Space

      Warehouse and showroom space available in Arlington Heights, Illinois.
      567 S Arthur Ave, Arlington Hts, IL 60005
      View Details
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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.

    More about this property
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