Flex Building With Loading
For Sale
$2,000,000
1175 Jansen Farm Court, Elgin, IL 60123
COMMERCIAL - Elgin, IL
Property Size12,400 SF
Lot Size1.12 Acres
Price / SF$161.29
Days on Market129
Property Features for 1175 Jansen Farm Court
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Route 31 West on Big Timber Rd South on Jansen Farm Dr to Jansen Farm Ct
Subdivision
Elgin
Standard status
Active
APN
0604402002
Lot size
1.12 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
37834
Utilities
Cooling system
Central Air
Building Details
Year built
1987
Floors in Building
1
Listing Agency:
Keller Williams Success Realty · Keller Williams Realty
(847) 381-9500
Listed By:
Randall Nosalik · License #475150328
(847) 381-9500
Added: Apr 9
Changed: Aug 4
Last Checked: Aug 15 at 8:06AM
MLS# 12614069
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 12,400-square-foot flex building sits on 1.12 acres and can be configured as three units measuring approximately 8,400 SF, 2,000 SF, and 2,000 SF. The property includes about 2,700 SF of office space with reception, private offices, and a lunchroom or cafeteria. Each unit has dedicated restroom facilities, while electrostatic and epoxy-coated flooring support technical and light industrial operations.
The building provides 14-foot ceiling heights, 800-amp electrical service, three drive-in doors, and an exterior dock with leveler. On-site parking accommodates 50+ vehicles. Capital improvements include a roof installed in 2021, five HVAC units added in 2023, and a new air conditioner, air handler, unit heater, upgraded ductwork, and UV sanitation lighting completed in 2024. Central air is also present, and the building was constructed in 1987.
The building provides 14-foot ceiling heights, 800-amp electrical service, three drive-in doors, and an exterior dock with leveler. On-site parking accommodates 50+ vehicles. Capital improvements include a roof installed in 2021, five HVAC units added in 2023, and a new air conditioner, air handler, unit heater, upgraded ductwork, and UV sanitation lighting completed in 2024. Central air is also present, and the building was constructed in 1987.
Key Highlights
- 12,400 SF flex building on 1.12 acres
- Three‑unit configuration: approximately 8,400 SF, 2,000 SF, and 2,000 SF
- 14' ceilings with 800 amp electrical service
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,572
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.53%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,611,440
$2.6M
Cap Rate 7%
$1,865,314
$1.9M
Cap Rate 9%
$1,450,800
$1.5M
Market Conditions
NOI Build-Up for 12,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$223.2K $18.00/SF
− Vacancy
−$22.3K −$1.80/SF
EGI
$200.9K $16.20/SF
− OpEx
−$70.3K −$5.67/SF
NOI
$130.6K $10.53/SF
Area
Cook County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,611,440
Cap Rate 7%
$1,865,314
Cap Rate 9%
$1,450,800
Alternative Uses
Best Use
Flex RnD
$1.87M
$1.63M – $2.18M
NOI $130,572 @ 7.0% cap · market cap 6.53%
Second Best
Warehouse
$925.9K
$810.2K – $1.08M
NOI $64,816 @ 7.0% cap · market cap 3.24%
Theoretical Best
Office A
$4.28M
$3.75M – $4.99M
NOI $299,681 @ 7.0% cap · market cap 14.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
14 ft
Clear height
1
Dock-high doors
3
Drive-in doors
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60123, IL
47,932
Population
18,129
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
14.0 sq mi
ZIP Area
3,424
Density / Sq Mi
$86,762
Median Household Income
$40,288
Median Earnings
$1,226
Median Rent
$242,200
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Versatile industrial building with office improvements, multiple loading points, and a layout suited to owner-users or investors.
Where is this flex space located?
The property is located at 1175 Jansen Farm Court Elgin, IL.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: 12,400 SF flex building on 1.12 acres; Three‑unit configuration: approximately 8,400 SF, 2,000 SF, and 2,000 SF; 14' ceilings with 800 amp electrical service
