2001 Rand RdPalatine, IL 60074

Property Details for 2001 Rand Rd

Year built

2000

Lot size

1.51 AC

Property type

Retail space

APN

02-02-402-008

APU

202402008

Description

This exceptional retail space, located at 2001 N Rand Road in Palatine, Illinois (zip code 60074), offers a total of 4,125 square feet, currently entirely vacant and ready for immediate occupancy. The property is ideally suited for multiple tenants, with spaces ranging from a minimum of 800 square feet to a maximum contiguous space of 3,325 square feet. Situated in Cook County, this location benefits from high visibility on Rand Road (Rt 12), just north of Dundee Road, and enjoys heavy traffic counts exceeding 30,300 vehicles daily. The property's strategic position within a thriving retail corridor provides excellent access to a substantial consumer base of over 257,000 people within a 5-mile radius. Tenants will appreciate the convenience of 24-hour access and individual HVAC control. Prominent tenant signage opportunities are available on Rand Road, along with a building monument sign. The rental rate is $19.00-$22.00 per square foot on a modified gross lease. The suites are in move-in condition. This property presents a remarkable opportunity for retail or office users seeking a high-traffic, well-located space in a vibrant community.

• CAP approach

  CAP return

  Valuation

  6%

  $14,031,700

  6.5%

  $12,952,400

  7%

  $12,027,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,034,060

  Geo Method

  $8,910,020

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $25,562,300

  Mixed-Use / Specialty

  $12,783,400

  Hospitality / Lodging

  $9,218,910

  Office

  $12,579,600

  Institutional / Educational

  $13,245,700

  Residential Income

  $15,497,500

  Multifamily

  $19,267,600

  Automotive / Energy

  $11,353,500

  Parking / Income-Based Land

  $4,039,260

  Restaurant / Food Service

  $6,386,690

  Healthcare / Senior Housing

  $13,235,100

Location Insight

City

Palatine

County

Cook

State

Illinois

Latitude

42.1458

Longitude

-88.0277

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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