Downtown Mixed-Use
New
For Sale
$416,000
45 - 65 Woodbury Street, South Elgin, IL 60177
Commercial Sale, South Elgin, IL
Property Size2,425 SF
Price / SF$171.55
Days on Market5
Property Features for 45 - 65 Woodbury Street
General Information
Property type
Commercial Sale
Property subtype
Retail
Directions
East State Street to Woodbury Then North To Address
Subdivision
South Elgin
Standard status
Active
APN
0635258059
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4669
Utilities
Cooling system
Central Air
Amenities
flexible open work area
private offices
restrooms
kitchenette
dedicated storage space
professional association maintenance
Building Details
Year built
2007
Floors in Building
1
Number of units
2
Building materials
Brick
Listing Agency:
Suburban Life Realty, Ltd.
(847) 363-0990
Listed By:
Sapan Patel
(847) 309-6939
Added: Sep 8
Last Checked: Sep 12 at 12:06AM
MLS# 12753244
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This updated mixed-use property combines retail and office functionality within a professionally maintained brick building constructed in 2007. Available configurations range from 1,127 to 2,425 square feet and include an adaptable open work area, several private offices, two restrooms, a kitchenette, and dedicated storage. Central air supports the interior environment, while the property is zoned for both retail and office uses.
The property is located at 45 - 65 Woodbury Street in downtown South Elgin. Nearby surroundings include luxury apartments, a senior living community, parks, an amphitheater, a splash pad, the Fox River, and bike and walking trails. An association manages landscaping, snow removal, and exterior upkeep, providing ongoing maintenance of the common exterior areas.
The property is located at 45 - 65 Woodbury Street in downtown South Elgin. Nearby surroundings include luxury apartments, a senior living community, parks, an amphitheater, a splash pad, the Fox River, and bike and walking trails. An association manages landscaping, snow removal, and exterior upkeep, providing ongoing maintenance of the common exterior areas.
Key Highlights
- 1,127 to 2,425 square feet of available retail and office space
- Zoned for both retail and office use
- 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
$33,437
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
8.04%
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%
$668,740
$668.7K
Cap Rate 7%
$477,671
$477.7K
Cap Rate 9%
$371,522
$371.5K
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
$59.4K $24.48/SF
− Vacancy
−$14.8K −$6.10/SF
EGI
$44.6K $18.38/SF
− OpEx
−$11.1K −$4.60/SF
NOI
$33.4K $13.79/SF
Area
Kane County, IL
Vacancy
24.90%
Lease Rate
$24.48 /SF/Yr
Expense Ratio
25.00%
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%
$668,740
Cap Rate 7%
$477,671
Cap Rate 9%
$371,522
Alternative Uses
Best Use
Office B
$477.7K
$418.0K – $557.3K
NOI $33,437 @ 7.0% cap · market cap 8.04%
Second Best
Mixed Use
$430.3K
$376.5K – $502.0K
NOI $30,119 @ 7.0% cap · market cap 7.24%
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
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
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Market
Vacancy Rate% for Office 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 support amenities for retail or office occupancy.
Where is this mixed-use property located?
The property is located at 45 - 65 Woodbury Street 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: 1,127 to 2,425 square feet of available retail and office space; Zoned for both retail and office use; Open work area with multiple private offices
