Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 3701 W Algonquin Road (the “Property”), a well-positioned office investment located in Rolling Meadows, a flourishing suburb situated 27-miles northwest of downtown Chicago.

The Property is comprised of 193,094 rentable square feet and is currently 74% leased. It features a large and diverse tenant mix, with medical, financial, and law tenants making up 65% of the leased space. The remainder of the occupied suites are comprised of logistics, manufacturing, real estate, engineering, marketing, and staffing companies, among others. The rent roll features a strong weighted average tenure of 6.8 years. All tenants are under modified gross lease structures, protecting ownership from future expense increases.

A new owner is offered significant upside through modernization and lease up of the remaining 50,000 square feet. Current ownership has seen strong post-COVID leasing momentum, as they’ve completed leases for 27 suites since the beginning of 2020. Ownership has repositioned the Property by renovating the common areas, bathrooms, and much of the office space. Additionally, it is being offered at a significant discount to the replacement value which helps to reset the basis for an investor.

The area surrounding the Property offers a strong demographic profile, with a 5-mile median home value of nearly $318,000, an average household income of $115,000+, and a population that exceeds 283,000. The Northwest Suburban office sector offers tenants a host of useful amenities, including dining, retail, universities, and hotels. The convergence of highly trafficked roads and highways, such as I-90, IL-53, Algonquin Road, and Golf Road, make the location easy and convenient to commute to.