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    1305-75 Remington Road

    Schaumburg, IL 60173
    • $6,714,000
    • STATUS: Active
    • ON SITE: 106 days
    • MLS #: 10677645
    $6,714,000
    • 0
      BEDS
    • 4
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 83,370
      SQFT
    • $81
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1979
    County:
    Area:

    School Ratings & Info

    Description

    Remington Office Court is an 83,370 square foot office complex comprised of four buildings, all single-story, and sits on 4 acres of land. The property is well located in the heart of Schaumburg's business district. All buildings have separate entrances with direct access to each suite from the parking lot. There is no shared interior common area. The property is currently stabilized at 92% occupancy with a total of 63 suites; 58 leased, 4 vacant and 1 for property storage. The property has enjoyed very strong leasing activity over the last two years with over 15 new leases, and the complex has been over 80% occupied for the past five years. Suite sizes range from 630 - 4,000 square feet, offering a variety of office suite sizes and providing a wide range of fully built-out spaces that are very appealing to local businesses in the area. All suites have one or more dedicated restrooms. The majority of the vacant spaces have been updated with fresh paint, carpet, finishes, and lighting (most LED) over the last two years, presenting very attractive and immediately available office spaces for potential tenants. This property has a true gross rent structure and tenants pay their electric, with all of the suites separately metered. The current NOI is very healthy at $594,204. The asking price of $6,714,000 is based on an 8.85% cap. The property has been well kept by the existing owner, and there is limited deferred maintenance. This type of property is rarely available and an excellent opportunity for an investment buyer to obtain a stabilized, very well-maintained, multi-tenant office investment.

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    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Keller Williams Success Realty. Based on information submitted to the MRED as of 2020-07-10T23:51:53.373 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    1305-75 Remington Road Schaumburg, IL 60173

    • Price: $6,714,000
    • Status: Active
    • MLS #: 10677645
    0
    Beds
    0
    Baths
    0
    ½ Baths
    4
    Acres
    83,370
    SQFT
    $81
    $/SQFT
    1979
    Built
    Neighborhood:
    Schaumburg
    County:
    Cook
    Area:
    Schaumburg
    Property Description
    Remington Office Court is an 83,370 square foot office complex comprised of four buildings, all single-story, and sits on 4 acres of land. The property is well located in the heart of Schaumburg's business district. All buildings have separate entrances with direct access to each suite from the parking lot. There is no shared interior common area. The property is currently stabilized at 92% occupancy with a total of 63 suites; 58 leased, 4 vacant and 1 for property storage. The property has enjoyed very strong leasing activity over the last two years with over 15 new leases, and the complex has been over 80% occupied for the past five years. Suite sizes range from 630 - 4,000 square feet, offering a variety of office suite sizes and providing a wide range of fully built-out spaces that are very appealing to local businesses in the area. All suites have one or more dedicated restrooms. The majority of the vacant spaces have been updated with fresh paint, carpet, finishes, and lighting (most LED) over the last two years, presenting very attractive and immediately available office spaces for potential tenants. This property has a true gross rent structure and tenants pay their electric, with all of the suites separately metered. The current NOI is very healthy at $594,204. The asking price of $6,714,000 is based on an 8.85% cap. The property has been well kept by the existing owner, and there is limited deferred maintenance. This type of property is rarely available and an excellent opportunity for an investment buyer to obtain a stabilized, very well-maintained, multi-tenant office investment.
    Exterior Features

    Lot Dimensions 0000 Lot Sq Ft 174240 Number Of TLDocks 0

    Interior Features

    Air Conditioning Central Individual Fire Protection Hydrants On Site Number Of Drive In Doors 0 Number Of Stories 1

    Property Features

    Age 36-50 Years Built Before1978 YN No Electrical Service Separate Meters Estimated Cam SF 0 Expense Year 2019 Geographic Locale Northwest Suburban Gross Rental Income Amount 1240152 Heat Ventilation Central Heat/Indiv Controls Max Avail Sq Ft Rentable 83370 Min Avail Sq Ft Rentable 83370 Net Oper Income Amount 594204 Net Operating Income Year 2020 Number Of Tenants 58 Property Offered For Sale Only Tax Year 2018 Taxes 318434 Tenant Pays JanitorialOperating StopsTax StopsOther Total Annual Exp 320221 Total Annual Income 124119 Township Schaumburg Unincorporated YN No Zoning Type Offic

    Listing information © 2020 Midwest Real Estate Data LLC.
    Listing provided courtesy of Sperry Van Ness.


    © 2020 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Keller Williams Success Realty. Based on information submitted to the MRED as of 2020-07-10T23:51:53.373 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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