1301 American LnSchaumburg, IL 60173

Property Details for 1301 American Ln

Year built

2004

Lot size

4.28 AC

Property type

Retail space

APN

07-13-101-014

APU

713101014

Description

This exceptional commercial property at 1301 American Lane in Schaumburg, Illinois, presents a unique investment opportunity. The existing 22,668 square foot building currently functions as a restaurant and banquet facility, offering significant potential for redevelopment or continued operation in its current format. Situated on a substantial 4.28-acre lot, the property boasts 265 surface parking spaces, ensuring ample convenience for patrons and employees. The B-3 zoning allows for a wide range of potential uses, including entertainment venues, medical offices, hotels, veterinary clinics, schools, preschools, banquet halls, and restaurants. With over 400 feet of frontage along American Lane, the property enjoys high visibility and accessibility. Its strategic location in the heart of a super regional trade area, just steps from one of Chicago's premier shopping malls, guarantees a strong customer base and significant foot traffic. This property offers a rare combination of size, location, and zoning flexibility, making it an ideal investment for discerning buyers seeking a high-return opportunity in a thriving market. The Cook County address, zip code 60173, and precise coordinates (latitude 42.0473385552826, longitude -88.04777761867767) further define this exceptional offering.

• CAP approach

  CAP return

  Valuation

  6%

  $49,485,216

  6.5%

  $45,678,664

  7%

  $42,415,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $47,697,748

  Geo Method

  $61,194,216

• Alternative Use

  Use

  Valuation

  Residential

  $38,531,660

  Hospitality

  $35,294,796

  Educational

  $29,364,854

  Medical

  $30,374,756

  Retail

  $45,678,664

Location Insight

City

Schaumburg

County

Cook

State

Illinois

Latitude

42.0468

Longitude

-88.0477

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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