605 Algonquin RdArlington Heights, IL 60005

Property Details for 605 Algonquin Rd

Year built

1968

Lot size

1.11 AC

Property type

Office buildings

APN

08-15-310-009

APU

815310009

Description

The Premier Office Center, located on Algonquin Road in Cook County (APN: 08-15-310-009-0000), presents a unique opportunity for businesses seeking flexible office space. This four-story, multi-tenant building offers a total of 31,326 square feet, encompassing 12 suites. Space is available in various sizes, ranging from small executive offices (as small as 120 sq ft) to larger suites, with a maximum contiguous space of 6,200 square feet and a minimum divisible space of 1,000 square feet. Currently, there are several spaces available for lease, ranging from approximately 2,146 to 6,719 square feet, in addition to smaller individual offices. The building itself is also available for purchase. The property sits on a 72,400 square foot lot and provides ample parking with 98 spaces. Building signage is negotiable. The building offers convenient access to I-90 and boasts high visibility due to its Algonquin Road location. Amenities include daily cleaning service, central heating and air conditioning, and elevators. This property is ideal for medical and professional office users seeking a well-maintained, conveniently located space. The cross street is Gobbert.

• CAP approach

  CAP return

  Valuation

  6%

  $8,730,528

  6.5%

  $8,058,948

  7%

  $7,483,310

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,908,849

  Geo Method

  $6,297,848

• Alternative Use

  Use

  Valuation

  Residential

  $9,993,096

  Hospitality

  $9,153,622

  Educational

  $7,615,706

  Medical

  $7,877,622

  Retail

  $11,846,654

Location Insight

City

Arlington Heights

County

Cook

State

Illinois

Latitude

42.0407

Longitude

-87.9748

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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