1530 N Randall Rd, Elgin, IL 60123

Building Details

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Stories 2 More

Tenancy Multi More

Listing Agency: Troy Companies Show Phone

Listed By: George Iliopoulos Show Phone

Source: Moodyscre

Added: Dec 28, 2023 Changed: Oct 26 Last Checked: Nov 8 at 7:54AM

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Investment Insights

Based on property information with market context.

Two-story medical office building totaling 19,034 square feet situated on 3.77 acres. The property also includes a 74,176 out lot intended for a potential retail outlot development. Most leases are described as short term, which may support a variety of near-term operating plans.

The site is located at a stop light intersection of Randall and Holmes. Vehicle traffic along Randall is cited at 41,800 VPD, which can be beneficial for visibility and customer access.

For owners and operators evaluating redevelopment or repositioning, the combination of an in-place medical building and an additional out lot may offer flexibility in how the land is ultimately utilized.

Key Highlights

• Two‑story medical office building totaling 19,034 SF
• Situated on 3.77 acres
• Includes a 74,176 out lot for a potential retail outlot

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$264,483

Cap Rate

6.61%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,289,660 $5.3M

Cap Rate 7%

$3,778,329 $3.8M

Cap Rate 9%

$2,938,700 $2.9M

Is this asking price fair?

Market Conditions

NOI Build-Up for 19,034 SF

Gross rent

$479.7K $25.20/SF

− Vacancy

−$38.9K −$2.04/SF

EGI

$440.8K $23.16/SF

− OpEx

−$176.3K −$9.26/SF

NOI

$264.5K $13.90/SF

Area

Kane County, IL

Vacancy

8.10%

Lease Rate

$25.20 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,289,660

Cap Rate 7%

$3,778,329

Cap Rate 9%

$2,938,700

Alternative Uses

Best Use

Healthcare Medical

$3.78M

$3.31M – $4.41M (±1% cap)

NOI $264,483 @ 7.0% cap · market cap 6.61%

Second Best

Office B

$3.75M

$3.28M – $4.37M (±1% cap)

NOI $262,448 @ 7.0% cap · market cap 6.56%

Theoretical Best

Office A

$5.19M

$4.54M – $6.06M (±1% cap)

NOI $363,311 @ 7.0% cap · market cap 9.08%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Associates in Pediatrics, SC Hospital Rehan Mohammad Hussain Ophthalmologist Dang Cheri a DDS Dental Office Elgin Clinic, Ltd Medical Clinic Connect Hearing Hearing Aid Store

Suggested Use

Top Pick Hair Salon Grocery & Convenience Store Pharmacy (Bike/Boat/Book/etc) Store Gym & Fitness Center Veterinary Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

41,800 VPD

Traffic count

Multi-tenant

Tenancy

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

1,253

Businesses Nearby

Well-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

Properties on Market for Medical Office Space in Kane County

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Two-story medical office on 3.77 acres with a potential retail outlot at a signalized intersection.

Where is this medical office space located?

The property is located at 1530 N Randall Rd Elgin, IL.

What is the asking price?

The asking price for this property is $4,000,000.

What are key features of this property?

This property features: Two‑story medical office building totaling 19,034 SF; Situated on 3.77 acres; Includes a 74,176 out lot for a potential retail outlot