Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    701 Meacham Rd Elk Grove Village, IL 60007-3000

    • Banks
    • 1.48 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-4278385
    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

    • Penny's Bistro / Cafe & Coffee Shop

    Property Details for 701 Meacham Rd

    Year built
    2006
    Lot size
    1.48 lot acres
    Property type
    Banks
    APN
    07-36-101-118
    APU
    736101118

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Elk Grove Village
    County
    Cook
    State
    Illinois
    Longitude
    -88.0452
    Latitude
    42.0038
    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
    $78,357
    $160,685
    $116,755
    $277,440
    -
    $642,740
    $467,020
    $1,109,760

    Comparable in this City

    • Value Estimation by Request
      1.17 Acres

      75 Turner Ave

      FINANCIAL BUILDING • 1.17 Acres
      75 Turner Ave, Elk Grove Village, IL 60007-3930
      View Details
    • Value Estimation
      $2,640,000
      1.04 Acres

      1100 Devon Ave

      FINANCIAL BUILDING • 1.04 Acres
      1100 Devon Ave, Elk Grove Village, IL 60007-3214
      View Details
    • Value Estimation by Request
      1.28 Acres

      900 Higgins Rd

      FINANCIAL BUILDING • 1.28 Acres
      900 Higgins Rd, Elk Grove Vlg, IL 60007-1561
      View Details
    • Value Estimation
      $515,000
      1.11 Acres

      450 Higgins Rd

      FINANCIAL BUILDING • 1.11 Acres
      450 Higgins Rd, Elk Grove Village, IL 60007-1406
      View Details
    • Value Estimation by Request
      0.92 Acres

      70 Biesterfield Rd

      FINANCIAL BUILDING • 0.92 Acres
      70 Biesterfield Rd, Elk Grove Vlg, IL 60007-3668
      View Details
    • Value Estimation by Request
      2.43 Acres

      100 Higgins Rd

      FINANCIAL BUILDING • 2.43 Acres
      100 Higgins Rd, Elk Grove Village, IL 60007-1434
      View Details

    Similar Nearby for Sale

    • $150,000
      0.07 Acres

      Turnkey Mexican Restaurant For Sale

      Thriving Mexican restaurant in high-traffic location with loyal customer base.
      770 S Arlington Heights Rd, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      266,989 SF

      High Image Industrial Property

      Industrial property in Regent O'Hare Business Center.
      1800-1872 Brummel Dr, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      91,517 SF

      Elk Grove Warehouse with Yard

      Warehouse with fenced yard near O’Hare Airport and highways.
      3501 Touhy Ave, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      37,811 SF

      Elk Grove Village Warehouse Facility

      Well-maintained industrial warehouse in Elk Grove Village for sale.
      1901 Greenleaf Ave, Elk Grove Village, IL 60007
      View Details
    • $330,900

      Updated Condo with Accessibility Features

      Move-in ready condo featuring accessibility enhancements and updated kitchen.
      615 Perrie Dr, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      6,794 SF

      Elk Grove Village Warehouse Space

      6,794 SF warehouse with expandable parking and secured site.
      1505 Pratt Blvd, Elk Grove Village, IL 60007
      View Details

    Similar Nearby for Lease

    • $38 SF/Yr
      14,077 SF

      New Mixed-Use Development Retail Space

      Modern commercial space for lease in Elk Grove Village.
      1 E Higgins Rd, Elk Grove Village, IL 60007
      View Details
    • Contact for pricing
      1,563 SF

      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
    • Contact for pricing
      92,432 SF

      Elk Grove Village Retail Space

      Versatile space with showroom in Elk Grove Village.
      1300 Pratt Blvd, 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
    • $2,700 /Mo
      1,373 SF

      Retail Spaces on Higgins Road

      Retail units available in Elk Grove Village with high visibility.
      1000 E Higgins Rd, Elk Grove Village, IL 60007
      View Details
    • $38 SF/Yr
      2,765 SF

      Modern Commercial Space For Lease

      New mixed-use development, ideal for retail, office, medical office.
      111 E Higgins Rd, Elk Grove Village, IL 60007
      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.
    701 Meacham Rd
    Elk Grove Village, IL 60007-3000
    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.