44 Vail AveArlington Heights, IL 60005

Property Details for 44 Vail Ave

Year built

2000

Lot size

0.49 AC

Property type

Commercial real estate

APN

03-29-340-026

APU

329340026

Description

This fully renovated, Class A, multi-tenant office building in Arlington Heights, IL, offers 54,270 square feet across two stories. Located in a Transit-Oriented Development (TOD) area, the property boasts 100% occupancy with 13 tenants and a weighted average lease term of 4.64 years. Built in 1956 and extensively renovated in 2016 and 2022, the building features 20 units within a single building on a 0.98-acre lot. Amenities include 54 on-site parking spaces, proximity to a municipal parking garage, a shared conference room, and convenient access to the Arlington Heights Metra station and downtown amenities. The property benefits from a Class 7C tax incentive and includes 39,846 square feet on the first and second floors, plus an additional 14,424 square feet of lower-level space suitable for leasing or storage. The permitted zoning is B-5. This is a stabilized investment opportunity in a prime location.

• Alternative Use

  Use

  Valuation

  Residential

  $4,420,962

  Hospitality

  $4,049,577

  Educational

  $3,369,200

  Medical

  $3,485,072

  Retail

  $5,240,978

Location Insight

City

Arlington Heights

County

Cook

State

Illinois

Latitude

42.0833

Longitude

-87.9845

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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