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Marcus & Millichap Sells 22,910-Square-Foot Retail Center In Mount Prospect For $2.975M
SOLD
$2,975,000
+ 1
Illinois
See Similar DealsRetail22,910 SF
Sold 02/11/2026
SOLD
Marcus & Millichap Sells 22,910-Square-Foot Retail Center In Mount Prospect For $2.975M
1776 West Algonquin Road
See Similar DealsRetail22,910 SF
Sold 02/11/2026
+ 1
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$129
Total Square Footage:22,910 SF
Transaction Type:Sale
A 22,910-square-foot retail strip center located at 1776 Algonquin Road in Mount Prospect, Illinois, was sold for $2,975,000. This asset, constructed in 1964, features 13 suites and is situated on 1.81 acres, strategically placed between three signalized intersections.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $2,975,000
- Square Footage: 22,910
- Sale Price per Square Foot: $130
- Address: 1776 Algonquin Road
- Market: Mount Prospect
- Acres: 1.81
Marcus & Millichap represented the seller and procured a local investor as the buyer. The brokers involved in the transaction include Mitchell Kiven, Coult Greenwell, Eric Abbott, and Zachary Taylor, who played significant roles in facilitating this deal.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$158,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$10,569.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$14,103.02
Annual Debt Service$169,236.21
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