Flex Building With
For Sale
$2,000,000
1175 Jansen Farm Court, Elgin, IL 60123
Commercial Sale, Elgin, IL
Property Size12,400 SF
Lot Size1.12 Acres
Price / SF$161.29
Days on Market171
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) 812-2681
Added: Apr 9
Changed: Aug 19
Last Checked: Sep 26 at 3:06PM
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 1987 flex building in Elgin offers a configurable layout that can be divided into three units with limited modifications. The property includes approximately 2,700 SF of office space with reception, private offices, and a lunchroom or cafeteria, while each unit has separate restroom facilities. Two units have electrostatic flooring and the third has epoxy-coated floors. Operational features include 14-foot ceilings, 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, and unit heater completed in 2024. Upgraded ductwork and UV sanitation lighting are also in place. The property is located at 1175 Jansen Farm Court in Elgin, Illinois, within Kane County and ZIP Code 60123.
Capital improvements include a roof installed in 2021, five HVAC units added in 2023, and a new air conditioner, air handler, and unit heater completed in 2024. Upgraded ductwork and UV sanitation lighting are also in place. The property is located at 1175 Jansen Farm Court in Elgin, Illinois, within Kane County and ZIP Code 60123.
Key Highlights
- Configurable flex building that can be divided into three units
- Approximately 2,700 SF of office space with reception, private offices, and lunchroom/cafeteria
- 14' ceiling heights and 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
$81,949
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
4.10%
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%
$1,638,980
$1.6M
Cap Rate 7%
$1,170,700
$1.2M
Cap Rate 9%
$910,544
$910.5K
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
$132.4K $10.68/SF
− Vacancy
−$6.4K −$0.51/SF
EGI
$126.1K $10.17/SF
− OpEx
−$44.1K −$3.56/SF
NOI
$81.9K $6.61/SF
Area
Kane County, IL
Vacancy
4.80%
Lease Rate
$10.68 /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%
$1,638,980
Cap Rate 7%
$1,170,700
Cap Rate 9%
$910,544
Alternative Uses
Best Use
Flex RnD
$1.17M
$1.02M – $1.37M
NOI $81,949 @ 7.0% cap · market cap 4.10%
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
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Open Analytics
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Adaptable industrial building with office improvements, multiple loading points, dedicated restrooms, and on-site vehicle parking.
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: Configurable flex building that can be divided into three units; Approximately 2,700 SF of office space with reception, private offices, and lunchroom/cafeteria; 14' ceiling heights and 800 amp electrical service
