Historic Retail Building with
For Sale
$499,900
303 N Main St, Elburn, IL 60119
B2-zoned retail property with original architectural details, supplemental buildings, landscaped grounds, and flexible reuse potential.
Property Size3,663 SF
Price / SF$136.47
Days on Market51
Property Features for 303 N Main St
General Information
Standard status
Active
Size
3,663 SF
Zoning
B2
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1880
Year Renovated
2022
Buildings
3
Stories
2
Tenancy
Single
Listing Agency:
Coldwell Banker Real Estate Group
Listed By:
Charles Kirkwood · License #475142955
(630) 715-5714
Source:
Amyboston.realtopiare
Added: Sep 9
Changed: Oct 26
Last Checked: Oct 28 at 2:28PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Real Estate Group
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Investment Insights
Based on property information with market context.
Built in 1880, this 3,663-square-foot retail property occupies a 0.56-acre lot at 303 N Main St in Elburn. The two-story building retains hardwood and parquet floors with inlays, stained glass, antique door hardware, built-ins, extensive casing and crown molding, and abundant windows. A main-floor kitchen area, walk-up attic, full basement, and 20+ parking spaces add practical utility. The property is currently used for retail and was historically operated as an office building. B2 zoning supports a variety of uses, while the existing layout and character provide a foundation for continued commercial use or conversion to residential use.
Recent work includes a new furnace and air conditioner in 2026, new roofs and gutters on all three buildings in 2022, stucco completed in 2022, a new front sidewalk, hurricane windows in the side porch, fire safety equipment, an ADS alarm system, and a new fire escape. The site also includes a 20' x 16' heated workshop and an oversized two-car garage with loft storage. Main Street is identified as Route 47 and carries almost 10,000 cars daily.
Recent work includes a new furnace and air conditioner in 2026, new roofs and gutters on all three buildings in 2022, stucco completed in 2022, a new front sidewalk, hurricane windows in the side porch, fire safety equipment, an ADS alarm system, and a new fire escape. The site also includes a 20' x 16' heated workshop and an oversized two-car garage with loft storage. Main Street is identified as Route 47 and carries almost 10,000 cars daily.
Key Highlights
- 3,663 SF retail property on a 0.56‑acre lot
- B2 zoning supports a variety of uses
- Original hardwood and parquet floors, stained glass, built‑ins, and decorative millwork
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,215
Cap Rate
8.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$884,300
$884.3K
Cap Rate 7%
$631,643
$631.6K
Cap Rate 9%
$491,278
$491.3K
Market Conditions
NOI Build-Up for 3,663 SF
Gross rent
$65.9K $18.00/SF
− Vacancy
−$2.8K −$0.76/SF
EGI
$63.2K $17.24/SF
− OpEx
−$18.9K −$5.17/SF
NOI
$44.2K $12.07/SF
Area
Kane County, IL
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$884,300
Cap Rate 7%
$631,643
Cap Rate 9%
$491,278
Alternative Uses
Best Use
Retail
$631.6K
$552.7K – $736.9K
NOI $44,215 @ 7.0% cap · market cap 8.84%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,527 @ 7.0% cap · market cap 17.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
472
Businesses Nearby
73k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 38%
Shops & Services 32%
Dining 29%
Beauty & Spa 1%
Jewel-Osco
Groceries
27,573 visits/mo
0.4 miles
McDonald's
Dining
18,586 visits/mo
0.5 miles
BP
Shops & Services
11,692 visits/mo
0.5 miles
AutoZone
Shops & Services
6,389 visits/mo
0.4 miles
Mobil
Shops & Services
4,207 visits/mo
0.4 miles
Demographics for 60119, IL
10,905
Population
4,595
Households
2.4
Avg Household Size
41
Median Age
51%
College-Educated
98%
High-School Grad
49.6 sq mi
ZIP Area
220
Density / Sq Mi
$124,058
Median Household Income
$62,747
Median Earnings
$1,620
Median Rent
$366,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Wild Orchid Custom Floral Designs — 107 Valley Dr, Elburn, IL 60119
Frequently Asked Questions
What type of property is this?
Storefront property - B2-zoned retail property with original architectural details, supplemental buildings, landscaped grounds, and flexible reuse potential.
Where is this storefront property located?
The property is located at 303 N Main St Elburn, IL.
What is the asking price?
The asking price for this property is $499,900.
What are key features of this property?
This property features: 3,663 SF retail property on a 0.56‑acre lot; B2 zoning supports a variety of uses; Original hardwood and parquet floors, stained glass, built‑ins, and decorative millwork
