2-16 Tyler Creek Plaza, Elgin, IL 60123
Five-tenant strip center anchored by a remodeled grocery provides a built-in retail mix for durable day-to-day traffic.
- Added:
- Jun 28, 2026
- Days on Market:
- 5
- Last Refresh:
- Jul 1 at 4:12 am
Property Features for 2-16 Tyler Creek Plaza
General Information
- Standard status
- Active
- Size
- 10,825 SF
- Property subtype
- Shopping Strip
Building Details
- Year Built
- 1975
Listing office Marcus & Millichap | Chicago Oak Brook (630) 570-2163
Listing date Jun 28, 2026
Source Marcusmillichap
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All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap | Chicago Oak Brook
HighLights
- Five‑tenant grocery shadow anchored strip center in Elgin, IL (Kane County), built in 1975
- Shadow anchored by Frank’s Freshway Market, which recently completed a major remodel
- Tenant mix includes 3 restaurants, 1 specialty grocer/restaurant, and 1 service tenant
- Wingstop west end cap; Elgin Wingstop listed as #1 visited in Illinois (per Placer.ai)
- All tenants operate under net leases with management fee reimbursement; many leases include annual rent increases
- Patrons have full access to parking on adjacent parcels, including the Frank’s Freshway Market parcel
Overview
Patrons have full access to parking on the adjacent parcels, including the Frank’s Freshway Market parcel. The property is located 1.4 miles from Interstate 90, and one mile from the MD-W Metra station serving more than 2.7 million annual riders. The trade area is supported by dense industrial corridors, with nearly 88,000 workers within three miles described as a daytime employment base.
From an ownership standpoint, the leases are structured as net leases with management fee reimbursement, and many include annual rent increases, creating inflation-hedge characteristics. The center’s tenant lineup is designed to support both grocery-related and restaurant-oriented traffic patterns, with long-term operating continuity from established concepts including Rosati’s Pizza.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $259.8k | $24.00 |
| − Vacancy | −$18.2k | −$1.68 |
| EGI | $241.6k | $22.32 |
| − OpEx | −$60.4k | −$5.58 |
| NOI | $181.2k | $16.74 |
Alternative Uses
Current Use by Public Records
Similar Places Nearby
- Tyler Creek Plaza — 50 Tyler Creek Plaza, Elgin, IL 60123
Location Insight
- Map
- Local Demand
- City
- Elgin
- County
- Cook
- State
- Illinois
- Longitude
- -88.3129293
- Latitude
- 42.0588151
