Downtown Mixed-Use
New
For Sale
$416,000
45 - 65 Woodbury St, South Elgin, IL 60177
Updated commercial space combines adaptable work areas, private offices, and retail-office zoning in downtown South Elgin.
Property Size2,425 SF
Price / SF$171.55
Days on Market3
Property Features for 45 - 65 Woodbury St
General Information
Standard status
Active
Size
2,425 SF
Amenities
flexible open work area
multiple private offices
attractive modern finishes
two restrooms
kitchenette
dedicated storage space
landscaping
snow removal
exterior upkeep
Building Details
Year Built
2007
Construction
contemporary
Listing Agency:
Suburban Life Realty, Ltd.
Listed By:
Sapan Patel
(847) 309-6939
Source:
Grandviewrealtyservices
Added: Sep 10
Last Checked: Sep 11 at 5:15PM
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 Suburban Life Realty, Ltd.
Investment Insights
Based on property information with market context.
Constructed in 2007, this updated mixed-use property provides up to 2,425 square feet of adaptable commercial space at 45–65 Woodbury St. The interior includes an open work area, several private offices, two restrooms, a kitchenette, and dedicated storage. Modern finishes support a range of retail and office configurations, while zoning accommodates both retail and office functions.
The property is situated in downtown South Elgin near new luxury apartments, a senior living community, parks, an amphitheater, a splash pad, the Fox River, and bike and walking trails. The surrounding residential and recreational uses contribute to pedestrian activity and visibility. A property association manages landscaping, snow removal, and exterior maintenance, supporting a professionally maintained setting for occupants and owners.
The property is situated in downtown South Elgin near new luxury apartments, a senior living community, parks, an amphitheater, a splash pad, the Fox River, and bike and walking trails. The surrounding residential and recreational uses contribute to pedestrian activity and visibility. A property association manages landscaping, snow removal, and exterior maintenance, supporting a professionally maintained setting for occupants and owners.
Key Highlights
- Up to 2,425 SF of commercial space
- Retail and office zoning
- Open work area with multiple private offices
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
$30,119
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
7.24%
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%
$602,380
$602.4K
Cap Rate 7%
$430,271
$430.3K
Cap Rate 9%
$334,656
$334.7K
Market Conditions
NOI Build-Up for 2,425 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
$52.4K $21.60/SF
− Vacancy
−$4.2K −$1.73/SF
EGI
$48.2K $19.87/SF
− OpEx
−$18.1K −$7.45/SF
NOI
$30.1K $12.42/SF
Area
Kane County, IL
Vacancy
8.00%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
37.50%
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%
$602,380
Cap Rate 7%
$430,271
Cap Rate 9%
$334,656
Alternative Uses
Best Use
Mixed Use
$430.3K
$376.5K – $502.0K
NOI $30,119 @ 7.0% cap · market cap 7.24%
Second Best
Retail
$418.2K
$365.9K – $487.9K
NOI $29,272 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$837.2K
$732.6K – $976.8K
NOI $58,607 @ 7.0% cap · market cap 14.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
307
Businesses Nearby
12k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Citgo
Shops & Services
6,930 visits/mo
0.5 miles
Shell
Shops & Services
4,909 visits/mo
0.4 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Updated commercial space combines adaptable work areas, private offices, and retail-office zoning in downtown South Elgin.
Where is this mixed-use property located?
The property is located at 45 - 65 Woodbury St South Elgin, IL.
What is the asking price?
The asking price for this property is $416,000.
What are key features of this property?
This property features: Up to 2,425 SF of commercial space; Retail and office zoning; Open work area with multiple private offices
