1628 Central RdArlington Heights, IL 60005

Property Details for 1628 Central Rd

Year built

2007

Lot size

0.57 AC

Property type

Office properties

APN

03-31-302-022-1001

APU

3313020221001

Description

This exceptional 7,000-square-foot medical office building is ideally situated in Arlington Heights, Illinois, at 1628 W Central Rd, 60005, just blocks from Northwest Community Hospital. Built in 2007 and renovated in 2021, this two-story freestanding building offers a single-tenant occupancy. The property boasts a convenient elevator, ample parking for 40 vehicles, and a common area entry. The building sits on a half-acre lot (0.5 acres) and features approximately 3,500 square feet on each of the two floors, plus an additional 1,450 square feet of basement space (totaling approximately 8,455 square feet). The property's prime location in the medical district ensures high visibility, enhanced by street signage on Central Road. The interior has undergone recent updates, reflecting a commitment to modern functionality and aesthetics. Cook County APN: 03-31-302-022-1001. Currently fully occupied.

• CAP approach

  CAP return

  Valuation

  6%

  $4,464,934

  6.5%

  $4,121,478

  7%

  $3,827,086

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,510,465

  Geo Method

  $3,220,822

• Alternative Use

  Use

  Valuation

  Residential

  $5,110,632

  Hospitality

  $4,681,312

  Educational

  $3,894,796

  Medical

  $4,028,744

  Retail

  $6,058,572

Location Insight

City

Arlington Heights

County

Cook

State

Illinois

Latitude

42.0671

Longitude

-88.0015

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

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