603 Wise RdSchaumburg, IL 60193

Property Details for 603 Wise Rd

Year built

1976

Lot size

1.06 AC

Property type

Retail space

APN

07-33-200-039

APU

733200039

Description

This exceptional multi-tenant industrial property, located at 603-617 W Wise Rd, Schaumburg, IL 60193, presents a compelling investment opportunity. The 18,011 square foot property boasts six units, currently housing five tenants, including an auto shop and storefront businesses, generating a current NOI of $132,906 and a 5.32% cap rate. A pro-forma NOI of $258,850 projects a 10.35% cap rate, indicating significant upside potential. The property is zoned M-1, allowing for a variety of light industrial uses. The asking price is $2,500,000, translating to $138.80 per square foot. Situated in the thriving Cook County suburb of Schaumburg, this property benefits from excellent visibility and convenient access to major roadways, making it an attractive location for businesses. Landlord only pays electric, minimizing operating expenses. The property's strong tenant mix and prime location in a vibrant business community, combined with the potential for increased NOI, make this a highly desirable investment. The property's APN is 07332000390000. This is a freehold ownership opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $12,255,778

  6.5%

  $11,313,026

  7%

  $10,504,952

• Comparable approach

  Method

  Valuation

  Relative Method

  $11,813,083

  Geo Method

  $15,155,692

• Alternative Use

  Use

  Valuation

  Residential

  $9,542,960

  Hospitality

  $8,741,300

  Educational

  $7,272,660

  Medical

  $7,522,777

  Retail

  $11,313,026

Location Insight

City

Schaumburg

County

Cook

State

Illinois

Latitude

42.0042

Longitude

-88.095

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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