Two-Unit Live-Work Condo with Vaulted
For Sale
$597,000
460 Briargate Drive #500, South Elgin, IL 60177
Two-unit live-work office condo with vaulted ceilings, custom built-ins, and B-2 zoning in Thornwood Professional Center.
Property Size2,763 SF
Price / SF$216.07
Days on Market191
Property Features for 460 Briargate Drive #500
General Information
Standard status
Active
Size
2,763 SF
Property subtype
Commercial
Zoning
B-2
Additional Details
Asking Price
$575,000
Office Units
2
Building Details
Building Size
2,763 SF
Year Built
2004
Listing Agency:
Worthington Enterprises LTD
(630) 240-6070
Listed By:
Montana Zaccagnini · License #475193227
(630) 240-6070
Source:
Perillorealestategroup
Added: Jan 21
Changed: Jul 30
Last Checked: Jul 30 at 4:30AM
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
Investment Insights
Based on property information with market context.
Own your office where you live with this premium two-unit live-work office condo in Thornwood Professional Center. The space features vaulted ceilings and custom built-ins, with separate unit areas configured for office use.
The property totals 2,763 +/- SF and includes Unit 400 at 1,190 SF and Unit 500 at 1,573 SF. Built in 2004, it is zoned B-2 Community Business District, positioned among the retail corridor along Randall Road in South Elgin.
This setup supports an owner-user approach where one unit can serve office needs while the second unit provides flexible use within the same condo configuration.
The property totals 2,763 +/- SF and includes Unit 400 at 1,190 SF and Unit 500 at 1,573 SF. Built in 2004, it is zoned B-2 Community Business District, positioned among the retail corridor along Randall Road in South Elgin.
This setup supports an owner-user approach where one unit can serve office needs while the second unit provides flexible use within the same condo configuration.
Key Highlights
- Two‑unit live‑work office condo in Thornwood Professional Center
- Vaulted ceilings with custom built‑ins
- Total size 2,763 +/- SF
Financial Insights For Office B
Simulate Cap Rate and NOI
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.
| 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 Uses
Best Use
Office B
$544.2K
$476.2K – $635.0K
NOI $38,097 @ 7.0% cap · market cap 6.38%
Second Best
Mixed Use
$490.2K
$429.0K – $571.9K
NOI $34,316 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$953.9K
$834.7K – $1.11M
NOI $66,776 @ 7.0% cap · market cap 11.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Office units
Location Intelligence
Trade Area within ½ mile
643
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Live-work space - Two-unit live-work office condo with vaulted ceilings, custom built-ins, and B-2 zoning in Thornwood Professional Center.
Where is this live-work space 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 $597,000.
What are key features of this property?
This property features: Two‑unit live‑work office condo in Thornwood Professional Center; Vaulted ceilings with custom built‑ins; Total size 2,763 +/- SF
