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    80 Grove Ave Elgin, IL 60120

    Sponsored
    For Sale
    $1,900,000

    Prime Riverfront Office & Event Space

    Property size:
    27,066 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    338
    This exceptional 27,066 square foot office building enjoys a highly visible location in downtown Elgin, Illinois. Situated at 80 S Grove Avenue, the property boasts prominent frontage on both Riverside Drive, overlooking the Fox River, and Grove Avenue. Its strategic location offers easy access to ample city parking lots and the nearby Festival Park. Currently housing a diverse mix of tenants including a restaurant/bar, event space, entertainment venue, and office spaces, this building presents a unique investment opportunity. Recent significant improvements enhance its value and appeal. These upgrades include a completely renovated concrete basement floor with waterproofing, a new roof installed in 2018, completed tuckpointing on the south side of the building, and the installation of eight newer HVAC systems. The building's versatile layout and prime location offer substantial potential for increased rental income through higher occupancy. The possibilities for this property are truly limitless, making it an attractive prospect for investors seeking a high-upside return. The building's prominent location and recent renovations position it for continued success and growth within the vibrant Elgin market. This is a rare opportunity to acquire a landmark property with significant upside potential in a thriving downtown area. The property is offered at $1,900,000.

    Property Features for 80 Grove Ave

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    27,066 SF

    Building Details

    Year Built
    1920
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Properties & Spaces

    Map

    City
    Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.28304
    Latitude
    42.03539

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Riverfront Office & Event Space
    Where is this office property / space located?
    The property is located at 80 Grove Ave Elgin, IL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    (847) 931-7500
    Request Owner's contact information
    80 Grove Ave Elgin, IL 60120
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    Elgin, IL 60120
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    80 Grove Ave Elgin, IL 60120
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