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

    420 Randall Rd South Elgin, IL

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

    Outlot retail space in a high-traffic shopping center.

    Type:RETAIL
    Property size:
    1,335 SF
    Lot size:
    3.69 Acres
    Added:
    Nov 24, 2025
    Days on Market:
    128
    Last Refresh:
    Mar 29 at 9:52 pm

    Property Features for 420 Randall Rd

    General Information

    Standard status
    Active
    Size
    1,335 SF
    Lot size
    3.69 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 420 Randall Rd Contact us

    We can help!

    Listing Contact
    Doug Renner
    Doug Renner

    Listing agent Doug Renner

    Listing office Baum Realty

    Listing date Nov 24, 2025

    Source Moodyscre

    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 Baum Realty

    Overview

    Retail Space on Randall Road

    Outlot space is available in a dynamic regional retail corridor. The location benefits from high visibility on Randall Road, which sees 32,100 vehicles per day. The shopping center is the most visited in South Elgin, with 1.43 million annual visits. The surrounding area has a dense population of 130,060 people within a 5-mile radius and high average household incomes of $149,888. The property offers 1,335 square feet of retail space and is situated within a retail area encompassing over 2.6 million square feet.
    Location Intelligence

    Current Use by Public Records

    Red Robin Gourmet ... Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

    Similar Places Nearby

    • Coinme at Coinstar - Bitcoin Kiosk — caputo's fresh market, 622 s randall rd, south elgin, il 60177
    • South Elgin Commons — 530-488 S Randall Rd, South Elgin, IL 60177
    • South Elgin Crossing — 382-440 S Randall Rd, South Elgin, IL 60177
    • Coinstar Kiosk | Bitcoin ATM — NAI, 375 Randall Rd, South Elgin, IL 60177
    • Coinstar Kiosk | Bitcoin ATM — 622 N Randall Rd, South Elgin, IL 60177

    Location Insight

    • Map
    • Local Demand
    City
    South Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3417
    Latitude
    41.983

    Nearby Similar for Lease

    • $27/mo

      Prime Retail Space on Randall Road

      High-traffic retail space with national co-tenants and excellent signage.
      310 Randall Road, South Elgin, IL 60177
      View Details
    • $20/mo

      South Elgin Retail Space Available

      Retail spaces in a busy center, ideal for diverse businesses.
      558-586 Randall Rd, South Elgin, IL 60177
      View Details
    • Contact for pricing

      Office Space in South Elgin

      Up to 5,190 SF available for lease on second floor.
      456-467 Redington Dr, South Elgin, IL 60177
      View Details
    • Contact for pricing

      Retail/Office Strip Center Unit

      Commercial space for lease on IL Rt 31 (LaFox St)
      1365 N La Fox Street, South Elgin, IL 60177
      View Details
    • $27/mo

      Retail Space on Randall Road

      Retail space with high visibility and national co-tenants.
      310-312 Randall Rd, South Elgin, IL
      View Details
    • $13/mo

      Prime Retail/Office Space Available

      1,800 SF space in a thriving South Elgin strip center.
      212-238 RANDALL Road, South Elgin, IL 60177
      View Details
    • $25/mo

      Retail Space Available For Lease

      9,000 square feet retail property for lease.
      151 S Mclean Blvd, South Elgin, IL
      View Details
    • $18/mo

      Retail Space on Randall Road

      Retail space available for lease in South Elgin, Illinois.
      622 Randall Rd, South Elgin, IL
      View Details
    • Contact for pricing

      Briargate Drive Office Space Rental

      Second floor office space in thriving retail corridor.
      456-467 Briargate Dr, South Elgin, IL
      View Details
    • Contact for pricing

      South Elgin Industrial Space

      15,000 SF industrial space available for lease.
      325 Industrial Dr, South Elgin, IL
      View Details
    • Contact for pricing

      Retail Space on Spring Street

      Retail space in high-traffic area near major retailers.
      1268-1276 W Spring St, South Elgin, IL
      View Details
    • Contact for pricing

      Retail Space on Spring Street

      1,300 SF retail space in South Elgin available for rent.
      1275-1287 W Spring St, South Elgin, IL
      View Details

    FAQs

    What type of property is this?
    Shopping center - Outlot retail space in a high-traffic shopping center.
    Where is this shopping center located?
    The property is located at 420 Randall Rd South Elgin, IL.
    What are key features of this property?
    This property features: #1 most visited shopping center in South Elgin with 1.43M annual visits.; High incomes: $149,888 average HH incomes within 5 miles.; Heavy traffic: **32,100 VPD on Randall Rd.**
    (312) 666-3000
    We can help!
    Listing Contact
    Doug Renner
    Doug Renner
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!