Central Office Plaza
With Significant Upside
Over 36,000 Vehicles per Day Pass the Property
Value-Add With Significant Upside
Property Vacancy Well Above Both City and Submarket Vacancy
Well-Educated Work Force in Immediate Area
One-Half Mile to Mount Prospect Metra Station
500 West Central Road, Mt. Prospect, IL 60056
Cap Rate 9.16%
Rentable SF 23,679 SF
Price per SF $40.12
Year Built 1972
Lot Size 0.79 Acres
Marcus and Millichap is pleased to present 500 W Central Road in Mount Prospect, IL. The offering is a value-add, multi tenant office building conveniently located at the intersection of W Northwest Highway, Central Road and W Prospect Ave . With vacancy currently at 39.7%, a new owner has the opportunity positively increase their return to well over 10%.
When Business Week Magazine announced in 2008 that Mount Prospect was the number one place to raise kids, followed in 2010 by Money Magazines claim that the Village was one of the "Top 50 Places to Live" in the U.S., residents could not have agreed more. In 2013, Movoto Real Estate, which ranks cities and towns across America, named Mount Prospect one of the Top 10 Best Cities in Illinois." Its conveniently located to downtown Chicago, O'Hare International Airport and Chicago Executive Airport, two Interstate highways and two commuter rail systems within miles of each other.