Luxury Office Space
460 Briargate Dr S, Elgin, IL
Class A office space in a desirable location.
Type:OFFICE
Property size:
2,805 SFLot size:
1.44 AcresPrice / SF:
$195/SF- Added:
- Feb 2, 2023
- Days on Market:
- 1200
- Last Refresh:
- Apr 5 at 9:07 pm
Property Features for 460 Briargate Dr S
General Information
- Standard status
- Active
- Size
- 2,805 SF
- Lot size
- 1.44 Acres
- Property subtype
- OFFICE
Properties For Sale
at 460 Briargate Dr S Contact usListing agent David Ellermann
Listing office Sperry Commercial | Chicago (312) 402-3283
Listing date Feb 2, 2023
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 Sperry Commercial | Chicago
HighLights
- Class "A" office space offering a prestigious and impressive image.
- Prime location off Randall Road in South Elgin with excellent access and visibility.
- Flexible space options including fully custom furnished suites and divisible units. Potential for additional income through subleasing.
- High‑quality construction with all‑brick buildings and Old World architecture.
- End‑cap unit featuring a large executive suite, multiple private offices, and open workspaces.
- On‑site owner/manager providing convenient support and management.
Overview
This property offers premier luxury office space, projecting a Class "A", first-class image suitable for professional office users. The all-brick building features Old World architecture with pitched roofs enhanced by architectural shingles, creating an established, world-class aesthetic. An end-cap unit includes 4 private offices, a large executive suite, 4 open offices, and an additional open space that can be leased. Personal office suites are available and divisible down to single office cubes, including utilities and internet, with free access to a conference room. The space could also be divided to approximately 1,000 square feet. The owner/manager is located on site. The property is situated just off Randall Road in South Elgin, past St. Charles, at a signalized intersection. It is located directly in front of the Thornwood subdivision, offering great access and visibility within a fully occupied professional-mix development. The property is suitable for businesses that require an impressive presence to appeal to clients and employees.
Financial Insights
Value Estimation Calculated for Office B
Conservative
$429.7K
NOI $38,676 @ 9.00% cap · cautious / downside scenario
Moderate
$552.5K
NOI $38,676 @ 7.00% cap · market / base-case scenario
Aggressive
$773.5K
NOI $38,676 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- 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.
Calculated for Office B
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $68.7k | $24.48 |
| − Vacancy | −$17.1k | −$6.10 |
| EGI | $51.6k | $18.38 |
| − OpEx | −$12.9k | −$4.60 |
| NOI | $38.7k | $13.79 |
2,805 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%
Alternative Use Scenarios
Best Use
Office B
$552.5K
$483.5K – $644.6K
NOI $38,676 @ 7.0% cap · market cap 7.04%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$968.4K
$847.4K – $1.13M
NOI $67,791 @ 7.0% cap · market cap 12.35%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Office Units
Map
- City
- Elgin
- County
- Cook
- State
- Illinois
- Longitude
- -88.2559
- Latitude
- 42.0353
Nearby Similar for Sale
FAQs
What type of property is this?
Office units - Class A office space in a desirable location.
Where is this office units located?
The property is located at 460 Briargate Dr S Elgin, IL.
What is the asking price?
The asking price for this property is $549,000.
What are key features of this property?
This property features: Class "A" office space offering a prestigious and impressive image.; Prime location off Randall Road in South Elgin with excellent access and visibility.; Flexible space options including fully custom furnished suites and divisible units. Potential for additional income through subleasing.
