5005 Newport DrRolling Meadows, IL 60008

Property Details for 5005 Newport Dr

Year built

1970

Lot size

1.91 AC

Property type

Office buildings

APN

08-07-213-009

APU

807213009

Description

This exceptional 50,000-square-foot Class B office building, situated at 5005 Newport Dr in Rolling Meadows, IL, presents a significant opportunity. Built in 1976 and renovated in 2020, this six-story structure boasts a 9-foot ceiling height and ample parking with 150 spaces. The property features a single tenant occupancy, with 1,500 square feet currently vacant. Conveniently located at the I-355 and I-90 intersection, this property offers unparalleled access and visibility. The building sits on a 2-acre lot with a 0.55 FAR and is zoned C3. The property includes one building with a traditional office subtype, offering 120/240 power and elevators. Cook County taxes are $4.60 per square foot. The building's amenities include a kitchen and four private offices. A portion of the existing furniture may remain. Additional weekly cleaning and monthly WiFi are available at an extra cost. This property provides 24/7 access. The APN is 08-07-213-009-0000. The building's load factor is 10%.

• CAP approach

  CAP return

  Valuation

  6%

  $15,022,748

  6.5%

  $13,867,152

  7%

  $12,876,641

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,446,729

  Geo Method

  $10,836,800

• Alternative Use

  Use

  Valuation

  Residential

  $17,195,268

  Hospitality

  $15,750,773

  Educational

  $13,104,458

  Medical

  $13,555,141

  Retail

  $20,384,712

Location Insight

City

Rolling Meadows

County

Cook

State

Illinois

Latitude

42.0592

Longitude

-88.0192

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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