Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    340 Renner Dr Elgin, IL 60123

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Flex space

    Property Features for 340 Renner Dr

    General Information

    Standard status
    Active

    Building Details

    Year built
    1974

    We can help!

    Listing Contact
    Ross Lehrman
    Ross Lehrman
    Source: Crexi

    Listing Agency: Transwestern Listing Agent: Ross Lehrman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    ±5,000 - ±20,000 SF industrial space for lease at 340 Renner Drive, Elgin, IL. ~*~*~* TENANT INCENTIVE: 2 Months Free Rent as Moving Allowance on Qualified Deals *~*~*~ Major renovations and make-ready work underway. Flexible space opportunities. Ample parking available. Heavy power. Great drive-through capabilities. Easy access to I-90 via Route 31. • Building Size: ±125,151 SF • Land Area: ±6.19 AC • Available: ±5,000 - ±20,000 SF • Office Size: ±1,200 - ±2,500 SF • Ceiling Height: 14’ • Loading: 1 Dock / 4 DID • Power: 800 Amps • Sprinklers: Wet • Year Built: 1974 • Construction: Masonry • Heating: Gas • Zoning: GI (General Industrial)
    Location Intelligence

    Current Use by Public Records

    Suburban Plastics Co Factory Rainbow Colors, Inc Industrial Manufacturer Mango Transport LLC Trucking Company Paramount Colors, Inc. Industrial Manufacturer Elgin Bathroom Designs ... Renovation Specialist

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    Catering Made Simple, My Shared Kitchen, K Ties Catering, Issa's Venezuelan food Llc, Issa's Venezuelan food Llc

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Cook
    State
    Illinois
    Longitude
    -88.3252979
    Latitude
    42.024543

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Elgin Office Suites Available

      Office suites in downtown Elgin with utilities and internet included.
      77 S Riverside Dr, Elgin, IL 60120
      View Details
    • Contact for pricing

      Professional Office Space in Elgin

      Well-maintained office building with spacious, green features and ample parking.
      1750 Grandstand Pl, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Retail/Office Space Available

      High visibility office/retail space north of Rt 20 interchange.
      333 S Mclean Blvd, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Commercial Space For Rent

      Former bar space available in downtown Elgin, ready for occupancy.
      76 S Grove Ave, Elgin, IL 60120
      View Details
    • Contact for pricing

      Unique Office Space in Elgin

      Distinctive office space with lighthouse-style structure, ideal for small businesses.
      2000 Larkin Ave, Elgin, IL 60123
      View Details
    • Contact for pricing

      Downtown Elgin Office Space Available

      Office spaces for lease in downtown Elgin, Illinois.
      80 S Grove Ave, Elgin, IL 60120
      View Details
    • Sponsored
      Contact for pricing

      IL, Elgin - Point Blvd

      Workspaces, services and support to help you work better in IL, Elgin - Point Blvd
      2250 Point Blvd, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Office/Retail Space Available

      First floor office/retail space in a busy commercial area.
      85 Market St, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Warehouse on Rt. 31

      Warehouse space with high visibility on Route 31 in Elgin.
      565 N State St, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Office Space For Rent

      Office space in a busy commercial area on Elgin's west side.
      85 Market St, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Office Suite For Rent

      Professional office suite in high-traffic commercial district, ideal for various businesses.
      1 American Way, Elgin, IL 60120
      View Details
    • Contact for pricing

      Elgin Office Units For Rent

      Office units available, various sizes, good visibility, ample parking.
      217 N Mclean Blvd, Elgin, IL 60123
      View Details

    FAQs

    Where is this flex space located?
    The property is located at 340 Renner Dr Elgin, IL.
    What are key features of this property?
    This property features: - Flexible industrial space available: ±5,000 - ±20,000 SF.; - Tenant Incentive: 2 Months Free Rent as Moving Allowance on Qualified Deals.; - Easy access to I-90 via Route 31.
    Request Owner's contact information
    340 Renner Dr Elgin, IL 60123
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    340 Renner Dr
    Elgin, IL 60123
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    340 Renner Dr Elgin, IL 60123
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Ross Lehrman
    Ross Lehrman
    Real Estate License ID: 475171721
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!