Park Ridge Office Investment Opportunity

422 N Northwest Hwy, Park Ridge, IL 60068

  • For Sale $2,595,000
  • Property Type Office - General Office
  • Property Size 24,470 SF
  • Units 24
  • Lot Size 1.21 Acre
  • Parking Spaces Avail. 89
  • Parking Ratio 3.80 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Building Class B
  • Year Built 1967
  • Year Renovated 2024
  • Date Updated Jan 23, 2025
Just a short drive from the heart of Chicago, Park Ridge offers an excellent location for office investment. The property is walking distance to Uptown: Metra station, local shopping and dining options. O'Hare International Airport terminals is within a convenient 20 minute drive. This prestigious area is home to top-rated schools and high income demographics. With its proximity to major highways and public transportation, the location provides seamless connectivity throughout the Chicagoland area and beyond.Introducing an exceptional investment opportunity in the heart of Chicagoland. Very stable returns over recent history (even through COVID-19). 5-year average cap rate of 8.61%, while the 2023 NOI yields a 9.19% cap. Buy at the floor of the office market and enjoy the rebound with a generational asset under your ownership. Professional management in-place with true armchair investment potential. 94% occupied :: increase value with full lease-up and increasing rental rates as the RTO trend takes off.
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Highlights

  • - 24,470 SF (23,745 RSF) building with 24 units
  • - Built in 1967, renovated in 2024
  • - 9.19% cap rate *based on 2023 NOI
  • - Significant capital investment: HVAC, electrical, fire alarm, elevator, windows, parking lot
  • - Professional management in place
  • - Zoned O-Office for versatile professional services
  • - Smaller footprint spaces remain in demand
  • - Impressive 94% occupancy rate
  • - Strong historical and potential rental income
  • - Proximity to major transportation hubs

Contacts

broker
James Conrad

McLennan Companies

Location

Getting Around

  • Walk Score ®

    78/100 Very Walkable

  • Transit Score ®

    41/100 Some Transit

  • Bike Score ®

    58/100 Bikeable
Powered by Walk Score ®
  • City Park Ridge, IL
  • Zip Code 60068
  • Market Chicago

Points of Interest

  • Park Ridge

    0.50 miles

  • Edison Park

    1.38 miles

  • Rosemont Blue Line Station

    2.48 miles

  • O'Hare Transfer

    2.63 miles

  • Norwood Park

    2.63 miles

  • Morton Grove

    3.00 miles

  • Des Plaines

    3.06 miles

  • Rosemont

    3.36 miles

  • Terminal 5

    3.92 miles

  • Schiller Park

    4.07 miles

  • Thorntons

    0.36 miles

  • Shell

    0.38 miles

  • BP

    0.40 miles

  • Mobil

    0.81 miles

  • Marathon

    1.41 miles

  • ChargePoint

    1.67 miles

  • Tesla Destination Charger

    2.62 miles

  • Tesla Supercharger

    2.65 miles

  • Tesla Macau

    2.85 miles

  • Uptown Parking Garage

    0.48 miles

  • Kiss and Ride

    2.24 miles

  • Cumberland Park & Ride

    2.28 miles

  • Resurrection Medical Center - Parking

    2.30 miles

  • Rosemont Park & Ride

    2.43 miles

  • East Parking Garage

    2.67 miles

  • Economy Lot F

    2.73 miles

  • Kiss n Fly

    2.77 miles

  • Hilton Garden Inn Chicago O'Hare Airport

    1.73 miles

  • Comfort Inn Convention Center-Chicago O'Hare Airport

    1.74 miles

  • Courtyard Chicago O'Hare

    1.79 miles

  • Holiday Inn Express & Suites Chicago North Shore - Niles

    1.87 miles

  • Hyatt Rosemont

    1.90 miles

  • Hampton Inn & Suites Rosemont Chicago O’Hare

    2.04 miles

  • Chicago Marriott O'Hare

    2.14 miles

  • SpringHill Suites Chicago O'Hare

    2.18 miles

  • Chicago Marriott Suites O'Hare

    2.21 miles

  • The Westin O'Hare

    2.22 miles

  • Lou Malnati's Pizzeria

    0.35 miles

  • The Sandlot

    0.37 miles

  • Burger King

    0.38 miles

  • City Barbeque

    0.41 miles

  • Blufish Sushi Bistro

    0.43 miles

  • Zaza Cucina

    0.45 miles

  • Affresco

    0.49 miles

  • Woodburning Oven

    0.50 miles

  • Thalaiva's Indian Kitchen

    0.55 miles

  • Reyes Steak House

    0.56 miles

  • Saint Andrew's Lutheran School

    0.16 miles

  • Lincoln Junior High School

    0.62 miles

  • George B. Carpenter Elementary School

    0.70 miles

  • Saint Paul of the Cross School

    0.73 miles

  • Emerson Middle School

    0.77 miles

  • Eugene Field Elementary School

    0.78 miles

  • George Washington Elementary School

    0.82 miles

  • Jefferson School

    0.84 miles

  • Jeanine Schultz Memorial School

    0.99 miles

  • Our Lady of Ransom School

    1.10 miles

  • Bright Horizons

    2.31 miles

  • Kiddie Garden Child Care Center

    2.87 miles

  • Children's Land Learning Center

    2.98 miles

  • Little Nest Care

    3.96 miles

  • Sunflower Early Learning Academy

    4.00 miles

  • KinderCare

    4.02 miles

  • Care-A-Lot Early Learning Center

    4.04 miles

  • Niles Township Community Day Care and Food Pantry

    4.21 miles

  • Domowe Przedszkole w Des Plaines

    4.51 miles

  • Pinocchio Child Care

    4.51 miles

Frequently Asked Questions

How much does Park Ridge Office Investment Opportunity cost?

The space currently listed for sale at Park Ridge Office Investment Opportunity asks for $2,595,000.

What is the total square footage of Park Ridge Office Investment Opportunity?

Park Ridge Office Investment Opportunity totals 24,470 square feet.

When was this property built?

Park Ridge Office Investment Opportunity was built in 1967.

Looking for more in-depth information on this property?

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Contact Listing Broker
broker
James Conrad

McLennan Companies

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