116 Arlington Heights Rd Arlington Heights, IL 60005

This three-story, 9,837 square foot office building at 116 S Arlington Heights Rd, Arlington Heights, IL 60005, presents a compelling value-add investment opportunity. Currently vacant, this Class C property offers immediate potential for redevelopment or lease-up. Situated on a sizable 18,790 square foot lot, zoned B-2, the building boasts significant upside. Built in 1978, the property features a single building with ample space for various business needs. The asking price is $699,000, translating to $71.06 per square foot. The property is currently vacant with an occupancy date of January 1, 2024. Its prime location near downtown Arlington Heights ensures high visibility and accessibility. The property's two parcel identification numbers (PINs) are 03-32-103-018/019. The ownership structure is an LLC, and the sale is considered distressed. The 2022 real estate taxes totaled $50,474. The seller will not consider offers contingent upon zoning changes. This is a rare chance to acquire a substantial office property in a desirable location with significant potential for return on investment.