Automotive Service
For Sale
$2,477,050
430 N McLean Boulevard, South Elgin, IL 60177
For sale automotive service property with strong regional access in the Fox Valley corridor near major arterial routes.
Property Size7,326 SF
Price / SF$338.12
Days on Market51
Property Features for 430 N McLean Boulevard
General Information
Standard status
Active
Size
7,326 SF
Property subtype
Auto Parts
Lease Type
NN
Additional Details
Cap Rate
6%
Highway Access
Yes
Amenities
Corporate Long Term Lease with 9+ Years Remaining featuring Favorable Rental Increases at Each Option.
Positioned Along Area's Retail & Traffic Corridor - Features Easy Access & Excellent Visibility with Daily Traffic Counts Exceeding 17k Vehicles.
Densely Populated and Affluent Area: Features an Average Household Income of $118k+ within a 1-Mile Radius & over 154k People Residing within a 5-Mile Radius.
Minutes from Numerous National Retailers including Walmart Supercenter, Sam's Club, Meijer, Menards, CVS, The Home Depot, Michaels, Walgreens, Kohl's, Best Buy, Staples and many more.
Near Elgin Community College (8k+ Students). It's Arts Center hosts Touring Artists & Music Productions in its two Theaters -the 662-seat Blizzard Theatre & the 168-seat SecondSpace Theatre.
The Overall Company is Ranked #249 on Fortune 500 List & Features a S&P Investment Grade Credit Rating of "BBB" with an Annual Revenue of 17.78 Billion.
Building Details
Building Size
7,326 SF
Tenancy
Single
Listing Agency:
Marcus & Millichap | San Diego
(858) 373-3184
Listed By:
Alvin Mansour · License #License(s): CA: 01391653, TX: 0606255
(858) 373-3184
Source:
Marcusmillichap
Added: Jun 28
Changed: Aug 8
Last Checked: Aug 17 at 3:48AM
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 Marcus & Millichap | San Diego
Investment Insights
Based on property information with market context.
The offering is an automotive service building/auto shop property listed for sale at 430 N McLean Boulevard in South Elgin, IL. The property is listed at $2,477,050 and has a total size of 7,326. It is presented as a commercial real estate asset within the automotive services category.
South Elgin is located in Kane County, approximately 40 miles west of downtown Chicago, positioned within the Fox Valley corridor. The village is served by major regional connectivity, including Illinois Route 31, U.S. Route 20, Randall Road, and convenient access to Interstate 90, providing direct connections to the greater Chicago metropolitan area and O’Hare International Airport. The broader area participates in the Elgin–St. Charles–Geneva trade area, supported by established suburban retail along the Randall Road corridor.
For buyers seeking an automotive-focused commercial asset in a growth-oriented suburban community, this property provides a straightforward fit within an established retail and service environment. With the area’s mix of healthcare, manufacturing, logistics, professional services, and education sectors, the property is positioned to serve ongoing local demand for service-oriented businesses within the Chicago western growth corridor.
South Elgin is located in Kane County, approximately 40 miles west of downtown Chicago, positioned within the Fox Valley corridor. The village is served by major regional connectivity, including Illinois Route 31, U.S. Route 20, Randall Road, and convenient access to Interstate 90, providing direct connections to the greater Chicago metropolitan area and O’Hare International Airport. The broader area participates in the Elgin–St. Charles–Geneva trade area, supported by established suburban retail along the Randall Road corridor.
For buyers seeking an automotive-focused commercial asset in a growth-oriented suburban community, this property provides a straightforward fit within an established retail and service environment. With the area’s mix of healthcare, manufacturing, logistics, professional services, and education sectors, the property is positioned to serve ongoing local demand for service-oriented businesses within the Chicago western growth corridor.
Key Highlights
- Automotive service property located in Kane County in the Fox Valley corridor.
- South Elgin is approx. 40 miles west of downtown Chicago.
- Regional access via Illinois Route 31, U.S. Route 20, Randall Road, and convenient access to Interstate 90.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$88,431
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,768,620
$1.8M
Cap Rate 7%
$1,263,300
$1.3M
Cap Rate 9%
$982,567
$982.6K
Market Conditions
NOI Build-Up for 7,326 SF
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.
Gross rent
$131.9K $18.00/SF
− Vacancy
−$5.5K −$0.76/SF
EGI
$126.3K $17.24/SF
− OpEx
−$37.9K −$5.17/SF
NOI
$88.4K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,768,620
Cap Rate 7%
$1,263,300
Cap Rate 9%
$982,567
Alternative Uses
Best Use
Retail
$1.26M
$1.11M – $1.47M
NOI $88,431 @ 7.0% cap · market cap 3.57%
Second Best
Industrial
$450.5K
$394.2K – $525.6K
NOI $31,536 @ 7.0% cap · market cap 1.27%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,053 @ 7.0% cap · market cap 7.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
427
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60177, IL
24,361
Population
8,700
Households
2.8
Avg Household Size
37
Median Age
38%
College-Educated
91%
High-School Grad
8.9 sq mi
ZIP Area
2,737
Density / Sq Mi
$123,700
Median Household Income
$59,266
Median Earnings
$1,612
Median Rent
$296,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Auto shop - For sale automotive service property with strong regional access in the Fox Valley corridor near major arterial routes.
Where is this auto shop located?
The property is located at 430 N McLean Boulevard South Elgin, IL.
What is the asking price?
The asking price for this property is $2,477,050.
What are key features of this property?
This property features: Automotive service property located in Kane County in the Fox Valley corridor.; South Elgin is approx. 40 miles west of downtown Chicago.; Regional access via Illinois Route 31, U.S. Route 20, Randall Road, and convenient access to Interstate 90.
