Property profile

5005 Newport Dr Rolling Meadows, IL 60008

OFF-MARKET
Office buildings
Property ID
US28-5347701
1.91 ac lot Built 1970
Entity Owned 7-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 50,000-square-foot Class B office building, situated at 5005 Newport Dr in Rolling Meadows, IL, presents a significant opportunity. Built in 1976 and renovated in 2020, this six-story structure boasts a 9-foot ceiling height and ample parking with 150 spaces. The property features a single tenant occupancy, with 1,500 square feet currently vacant. Conveniently located at the I-355 and I-90 intersection, this property offers unparalleled access and visibility. The building sits on a 2-acre lot with a 0.55 FAR and is zoned C3. The property includes one building with a traditional office subtype, offering 120/240 power and elevators. Cook County taxes are $4.60 per square foot. The building's amenities include a kitchen and four private offices. A portion of the existing furniture may remain. Additional weekly cleaning and monthly WiFi are available at an extra cost. This property provides 24/7 access. The APN is 08-07-213-009-0000. The building's load factor is 10%.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING (MULTI-STORY)
Year built 1970
Lot 1.91 ac (83,200 SF)
APN 08-07-213-009
UPID US28-5347701

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Freight Service Logistics Company
  • Life Coach Branding Agency
  • (Bike/Boat/Book/etc) Store Corporate Office
  • Dental Office

Location

5005 Newport Dr Rolling Meadows, IL 60008-3832
Rolling Meadows metro Census 805105 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$450k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$450k

Owner & transaction history

since 2019
7 recorded transactions
2019
Price N/A
2019
Price N/A
2019
$1.6M
2017
$1.2M
2009
Price N/A
2007
$2.7M
2006
$2.0M

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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