Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Premium Office Condo For Sale Title is generated by Realmo AI

    460 Briargate Drive #500, South Elgin, IL 60177

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $575,000

    Two-unit office condo in South Elgin's Thornwood Professional Center.

    Type:Commercial
    Property size:
    2,763 SF
    Price / SF:
    $208/SF
    Added:
    Jan 21, 2026
    Days on Market:
    116
    Last Refresh:
    Apr 5 at 9:13 pm

    Property Features for 460 Briargate Drive #500

    General Information

    Standard status
    Active
    Size
    2,763 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    2004

    We can help!

    Listing Contact
    MONTANA ZACCAGNINI

    Listing agent MONTANA ZACCAGNINI License #475193227

    Listing office WORTHINGTON ENTERPRISES LTD

    Listing date Jan 21, 2026

    Source Corcoran

    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 WORTHINGTON ENTERPRISES LTD

    HighLights

    • Premium Class A office condo buildout with vaulted ceilings and custom built‑ins.
    • Located in the robust retail corridor along Randall Road.
    • Owner‑user opportunity: own for less than renting.
    • Total condo size: 2,763 +/- sf (Unit 400: 1,190 sf, Unit 500: 1,573 sf).
    • Located in Thornwood Professional Center, South Elgin, IL 60177.
    • Zoned B‑2 Community Business District.

    Overview

    A two-unit office condo is available for purchase in the Thornwood Professional Center, located in South Elgin, Illinois. Built in 2004, the condo features a Class A buildout, including vaulted ceilings and custom built-ins. The property is situated in a retail corridor along Randall Road. The total condo size is approximately 2,763 square feet. Unit 400 comprises 1,190 square feet, while Unit 500 offers 1,573 square feet. The zoning is B-2 Community Business District. This property presents an owner-user opportunity.

    Financial Insights

    Value Estimation Calculated for Office B

    Conservative
    $423.3K
    NOI $38,097 @ 9.00% cap · cautious / downside scenario
    Moderate
    $544.2K
    NOI $38,097 @ 7.00% cap · market / base-case scenario
    Aggressive
    $761.9K
    NOI $38,097 @ 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 $67.6k $24.48
    − Vacancy −$16.8k −$6.10
    EGI $50.8k $18.38
    − OpEx −$12.7k −$4.60
    NOI $38.1k $13.79
    2,763 SF · lease $24.48/SF/yr · vacancy 24.90% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Office B
    $544.2K
    $476.2K – $635.0K (±1% cap)
    NOI $38,097 @ 7.0% cap · market cap 6.63%
    Second Best
    Mixed Use
    $490.2K
    $429.0K – $571.9K (±1% cap)
    NOI $34,316 @ 7.0% cap · market cap 5.97%
    Theoretical Best
    Office A
    $953.9K
    $834.7K – $1.11M (±1% cap)
    NOI $66,776 @ 7.0% cap · market cap 11.61%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report 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.

    Location Insight

    • Map
    • Local Demand
    City
    South Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3444
    Latitude
    41.9805

    Nearby Similar for Sale

    • $670,000
      8,880 SF

      Mixed-Use Strip Center Investment

      Four-unit mixed-use property with income and upside potential.
      375-395 E State Street, South Elgin, IL 60177
      View Details
    • $549,000
      15,430 SF

      Furnished Office Condo For Sale

      Class A office condominium in South Elgin, Illinois.
      460 Briargate Drive Unit 500, South Elgin, IL 60177
      View Details
    • $575,000
      2,763 SF

      Premium Office Condo For Sale

      Two-unit office condo in South Elgin's Thornwood Professional Center.
      460 Briargate Drive #500, South Elgin, IL 60177
      View Details
    • $7,539,295
      19,500 SF

      Veterinary Portfolio in Chicago Suburbs

      Three properties, 100% leased to Mission Pet Health.
      477 Briargate Dr, South Elgin, IL 60177
      View Details
    • $4,000,000
      21,734 SF

      South Elgin Retail Investment Opportunity

      New construction retail space with long-term lease in affluent area.
      436 S Randall Rd, South Elgin, IL 60177
      View Details
    • $75,000

      Profitable Gaming Property For Sale

      Recently renovated gaming property available for purchase.
      310 N LaFox Street, South Elgin, IL 60177
      View Details
    • $2,500,000
      11,569 SF

      Vacant Retail Building For Sale

      11,569 SF vacant retail building adjacent to Randall and Thornwood.
      474 Redington Dr, South Elgin, IL 60177
      View Details
    • Contact for pricing
      32,415 SF

      Class A Medical Office Building

      Class A medical office building with strong tenancy.
      2000 McDonald Rd, South Elgin, IL
      View Details

    FAQs

    What type of property is this?
    Office units - Two-unit office condo in South Elgin's Thornwood Professional Center.
    Where is this office units located?
    The property is located at 460 Briargate Drive #500 South Elgin, IL.
    What is the asking price?
    The asking price for this property is $575,000.
    What are key features of this property?
    This property features: Premium Class A office condo buildout with vaulted ceilings and custom built‑ins.; Located in the robust retail corridor along Randall Road.; Owner‑user opportunity: own for less than renting.
    (630) 240-6070
    We can help!
    Listing Contact
    MONTANA ZACCAGNINI
    Real Estate License ID: 475193227
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    460 Briargate Drive #500, South Elgin, IL 60177
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!