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    Medical Office Condo Suite Title is generated by Realmo AI

    460 Briargate Dr Ste 150, South Elgin, IL 60177

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    For Sale
    $405,000

    Well-appointed suite with exam rooms, waiting area, and built-in reception for medical or professional office use.

    Type:Office
    Added:
    Jun 2, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 3 at 3:34 am

    Property Features for 460 Briargate Dr Ste 150

    General Information

    Standard status
    Active
    Property subtype
    Office

    Building Details

    Year Built
    2003

    We can help!

    Listing Contact
    Heather Schweitzer
    Heather Schweitzer

    Listing agent Heather Schweitzer License #471019756

    Listing office PREMIER COMMERCIAL REALTY

    Listing date Jun 2, 2026

    Source Premiercommercialrealty

    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 PREMIER COMMERCIAL REALTY

    HighLights

    • Medical office condo suite built in 2003
    • Suite features a large reception desk and ample waiting area
    • 4 exam rooms, each with its own sink
    • Includes 1 private office plus a built‑in work station
    • Kitchenette/breakroom and 2 bathrooms
    • Sinks can be removed for non‑medical uses

    Overview

    Suite 150 presents a turnkey medical office condo configured for patient flow and day-to-day clinical or professional use. The space includes a large reception area with a built-in reception desk, ample waiting area, and four exam rooms, each equipped with its own sink. In addition, there is a private office, a kitchenette/breakroom, and a built-in work station. The suite also features two bathrooms, supporting a comfortable experience for staff and visitors.

    The suite is positioned within a commercial building at 460 Briargate Dr, providing a dedicated office environment designed for services that require privacy and organized room layout. The interior improvements and finishes support immediate occupancy rather than start-from-scratch buildout.

    This suite is a strong fit for healthcare professionals seeking an exam-room ready layout, while also offering flexibility for professional offices. The sinks in the exam rooms can be removed for non-medical uses, allowing the space to convert to general office functions without changing the core room structure. For buyers, it offers a specialized configuration that can serve as either a dedicated medical practice location or a well-designed office suite for other professional tenants.
    Location Intelligence

    Current Use by Public Records

    Karen D Casciaro ... Physician Becker Dental and Associates Dental Office Worthington Enterprises Construction Company Empire Accounting and Tax ... Accounting Firm Dr. Steven Johnson Dental Office

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • South Town Animal Hospital — 1944 Gyorr Ave, South Elgin, IL 60177
    • Banfield Pet Hospital — 428 S Randall Rd, South Elgin, IL 60177
    • ACC of Randall Pointe — 477 Briargate Dr, South Elgin, IL 60177
    • Anderson Humane Veterinary Clinic — 309 S Randall Rd, South Elgin, IL 60177
    • Petco Vaccination Clinic — 364 S Randall Rd, South Elgin, IL 60177

    Location Insight

    • Map
    • Local Demand
    City
    South Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3444288
    Latitude
    41.980453

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    FAQs

    What type of property is this?
    Medical Office Space - Well-appointed suite with exam rooms, waiting area, and built-in reception for medical or professional office use.
    Where is this medical office space located?
    The property is located at 460 Briargate Dr Ste 150 South Elgin, IL.
    What is the asking price?
    The asking price for this property is $405,000.
    What are key features of this property?
    This property features: Medical office condo suite built in 2003; Suite features a large reception desk and ample waiting area; 4 exam rooms, each with its own sink
    (815) 236-9816
    We can help!
    Listing Contact
    Heather Schweitzer
    Heather Schweitzer
    Real Estate License ID: 471019756
    Learn More
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    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.

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