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Arlington Office Park - Rolling Meadows, IL

2ND PRICE REDUCTION

Arlington Office Park - Rolling Meadows, IL

Rare Opportunity: Prime Single-Story Portfolio of Nine Office Buildings | 103,008 SF | Built 1980 / Renovated 2022

Roof Replacement for 6 of the 9 Buildings | New Landscaping | New Monument Sign
Recent Property Enhancements of Over $2,000,000


Great Location: Visibility at Cloverleaf Location at I290 Four-Way Interchange | 1 Minute to 4-Way Interchange on I-290, O'Hare International Airport & Downtown Chicago
Located at a Hard Corner-Signalized Intersection | Affluent Area: Average HHI $91,897
Solid Historical Occupancy | High Tenant Appeal with Modern Workspaces
Exceptional Investment Opportunity | Value Add Medical: 24% Vacancy


Near Future Development Site – Arlington International Racecourse - an Expansive 326-acre Parcel Located 1.5 miles from Subject Property. This site is poised to increase the location's desirability, potentially driving higher demand for office space. Proposed redevelopment plans include luxury apartments, an entertainment district, and a possible football stadium, which is an estimated $5 billion project.

1835-1951 Rohlwing Road, Rolling Meadows, IL 60008

Request Offering Memorandum

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Market Summary

Price                                    $8,900,000

Cap Rate                             9.43%

NOI                                      $838,919

Rentable SF                        103,008 SF

Price per SF                        $86.40

Year Built/Renovated         1980/2022

Lot Size                                8.9 Acres

Description

Marcus and Millichap is proud to bring to market a rare and premium investment opportunity. This distinctive property features low maintenance all brick structures, a 103,008 square foot single-story office complex, comprised of nine buildings, with a current occupancy rate of 76.30%. The individual buildings and suites cater to a wide array of business needs, offering accessible and efficient office spaces. Recent enhancements, including interior renovations to several of the suites, new landscaping, a new monument sign, and roof replacements across six of nine buildings, these improvements not only elevate the property's aesthetic appeal but also mitigate future maintenance expenses, ensuring the buildings remain in prime condition.

 

This investment opportunity stands out in the commercial real estate market for its robust blend of current performance and future potential. With 24 suites currently leased-11 of which have been recently remodeled to offer modern and efficient workspaces-this property exhibits strong performance metrics. The strategic location, recent upgrades, solid occupancy rates, and competitive leasing options position it as a prime investment choice. Additionally, the opportunity for strategic lease-ups and rent escalations presents a clear path for investors to enhance value and capitalize on the property's growth and profitability potential. These factors combined make the property a compelling option for investors looking to expand their portfolio with a stable yet growth-oriented real estate asset. The asset could be parceled off into 9 separate pins and sold individually if an investor preferred to diversify its holdings.

 

This single-story office building presents an exceptional investment opportunity due to its high desirability among tenants. Its appeal lies in being the type of office space that tenants actively seek out, making it a preferred destination for businesses. With a track record of tenants choosing to move into this building rather than vacate, it offers a stable and lucrative investment option for future investors. Furthermore, as an investor, owning a property with 103,000 square feet and 9 separate buildings is a strategic advantage. You have the flexibility to sell off select buildings, recouping your investment while retaining prized assets. Alternatively, capitalize on immediate returns by selling top-performing buildings and focusing on optimizing the rest for long-term growth. This unique opportunity empowers you to tailor your investment strategy for maximum profitability and control.

 

The property's location further amplifies its investment appeal, situated in a strategic area that boasts excellent connectivity and accessibility. Its proximity to the highway system, the airport, and downtown Chicago enhances its attractiveness to potential tenants and visitors. Furthermore, the anticipated new site for the Chicago Bears' arena nearby is poised to increase the location's desirability, potentially driving higher demand for office space, and contributing to the asset's appreciation. This combination of location attributes underscores the property's market desirability and positions it as an exceptional investment opportunity with tremendous upside potential.

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