846-860 Algonquin RdSchaumburg, IL 60173

Property Details for 846-860 Algonquin Rd

Lot size

12.64 AC

Property size (Sq ft)

156,963 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This exceptional 12.64-acre redevelopment site in Schaumburg, Illinois, presents a compelling investment opportunity. Located at 846-860 E Algonquin Rd, 60173, this B-3 zoned property boasts 156,963 square feet of existing improvements, encompassing four office buildings currently generating approximately $708,000 in gross annual income from short-term leases. The property's strategic location near the Motorola and Zurich campuses, I-90, and Meacham Road offers unparalleled access to a thriving business community and robust consumer base. The site's zoning allows for diverse redevelopment options, including multifamily (potential for 400 units), townhomes, retail, restaurant, or office space. Adjacent properties zoned R-6 further enhance the development potential. The existing buildings could be rehabilitated and re-tenanted, providing immediate income while long-term redevelopment plans are implemented. This prime location within the Woodfield Regional Center, subject to its design review, ensures visibility and accessibility to a wide range of businesses and residents. The asking price for this significant redevelopment opportunity is $14,000,000.

Location Insight

City

Schaumburg

County

Cook

State

Illinois

Latitude

42.0743

Longitude

-88.0582

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