Schaumburg Tech Center II is located in Schaumburg, IL which is one of the major suburban commercial hubs in the Chicagoland area. The subject property is conveniently located directly off Central Road, immediately west of the intersection of Roselle and Central Roads, and adjacent to the full interchange for I-90. I-90 connects to I-290, I-355 and IL-53 via Schaumburg which provides to quick and easy access to all areas of the Chicagoland market. O’Hare International Airport is less than 15 miles away and downtown Chicago is approximately 30 miles from the property. Schaumburg is located in Cook County and is a Northwestern suburb of Chicago. It is also known as part of the Golden Corridor, which is the area around the Jane Addams Memorial Tollway (I-90) in the Chicago metropolitan area. It is coined as such since the corridor generates a "gold" mine of economic profit for communities in the area. Several Fortune 500 company headquarters, office parks, industrial parks, exhibition and entertainment centers, medical facilities, hotels, shopping centers, and restaurants are located along the Golden Corridor. This economic center is home to more business in Illinois than any other community outside of Chicago. As of the 2010 census, the Village had a total population of 74,227. Schaumburg has a wide variety of commercial businesses including an excellent retail market and abundant office along with many industrial options. Schaumburg is home to the North American Headquarters for Zurich American Insurance. The market also enjoys one of only two IKEA stores in Illinois. Woodfield Mall, one of the largest malls in America with over 300 retailers, is also located in the heart of the retail market in Schaumburg. Schaumburg's transition from a rural community to that of a suburban metropolis began with Alfred Campanelli's first large-scale suburban style development in 1959 with the opening of Woodfield Mall on September 9, 1971. Optum RX (Catamaran), IBM, Comcast, Verizon Wireless, Motorola Solutions, Career Education Center, GE Financial Capital, Nation Pizza Products and Experian also call Schaumburg their home, totaling over 10,650 employees together. Schaumburg Tech Center II is a two-story office building with 36,814 square feet being offered for sale as an investment or owner/user investment opportunity. The property is currently 55% occupied with a total of 4 units, 2 of which are occupied. One vacant unit is 11,782 square feet and consists of the entire second floor. It is accessible through the common lobby, elevator and stairs. The suite can be demised into two office suites relatively easily. The second vacant unit is 4,924 square feet and is on the first floor. It is accessible through its own private entrance from the parking lot. Both suites are in very good condition and are move-in ready. The subject property was constructed in 1980 and sits on a 2-acre parcel of land, which is adjacent to the new full-interchange for I-90. It is surrounded by professional landscaping and ample parking, and is well located within the Schaumburg Tech Center. Immediate neighbors include IDOT and several other office/tech flex buildings. All of the first-floor suites have individual exterior entrances accessing the suites. The second-floor suite(s) is accessed from a common lobby area on the first floor with elevator access. Each unit is separately metered for all utilities. The building is concrete and steel construction, with a built-up roof and individual roof-top gas forced HVAC units. The suites consist of private offices, open space, kitchens and are of good quality finishes. Overall, the building is well maintained, professionally managed and in good condition. The roof is newer and in great condition. The parking lot was also repaved and re-striped in late 2016. The building will not require many repairs as the Owner has already provided for the majority of capital improvements. Schaumburg Tech Center II’s largest tenant is Gerber National Claim Services occupying 15,571 square feet and has been a tenant since 2011. They just renewed their lease in September of 2018 for another 8 years and 3 months. The suite was remodeled with new paint, carpet and light fixtures throughout. Gerber National Claim Services is a strong credit, nationwide automotive glass claims administrator and they have a large call center in the subject property. Chastain & Associates, the second tenant in the building, is an engineering firm and occupies 4,357 square feet. Their leases expires in early 2021 and they are considering expanding their space. Schaumburg Tech Center II offers traditional office space with excellent offices, expansive window views, and also provides exceptional location opportunities for service companies in the tech related industries, or any office user. This is an ideal opportunity for an owner to occupy a portion of the building, and collect rent from stable, good credit, long leasing tenants. This is also an opportunity for an investor looking for add-value. The large vacancy can be divided into multiple spaces for quicker lease up. Furthermore, low taxes on this property make this an excellent Schaumburg investment.
