Commercial Land with Mixed-Use
For Sale
$2,350,000
500 S RANDALL Road, Elgin, IL 60123
LAND - Elgin, IL
Property SizeContact for details
Lot Size18.00 Acres
Days on Market3708
Property Features for 500 S RANDALL Road
General Information
Property type
Land
Property subtype
Other
Zoning
COMMR
Elementary school district
301
Middle school district
301
High school district
301
Directions
RANDALL ROAD, JUST SOUTH OF ROUTE 20 ON WEST-SIDE OF RANDALL(IMMEDIATELY SOUTH OF THE OBERWEISS ICE CREAM SHOP)
Subdivision
Elgin
Standard status
Active
APN
0621101031
Lot size
18.00 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
378
Utilities
Utilities
Natural Gas Available
Listing Agency:
RE/MAX Horizon · RE/MAX International
(847) 931-7500
Listed By:
Ben Henrikson · License #475091643
(630) 215-6600
Added: Jun 20, 2016
Changed: Jul 6
Last Checked: Aug 14 at 6:06AM
MLS# 09264702
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 offering is 18 acres of commercial land zoned COMMR, positioned for phased or multi-product development across the front and rear of the property. The city is open to retail or commercial uses along the frontage, with multi-family apartment development on the rear.
The site is located at 500 S Randall Road in Elgin and sits along Randall adjoining the Otter Creek Shopping Center on the south end. The configuration supports planning for a frontage-driven use while preserving space for residential development further back on the parcel.
For developers evaluating mixed-use product, this property presents a straightforward framework: pursue retail or commercial activity along the road frontage, while considering multi-family apartments toward the rear. It is also noted to be located in the 301 School District, which can be a relevant factor for multi-family planning and tenant demographics when designing a residential component.
The site is located at 500 S Randall Road in Elgin and sits along Randall adjoining the Otter Creek Shopping Center on the south end. The configuration supports planning for a frontage-driven use while preserving space for residential development further back on the parcel.
For developers evaluating mixed-use product, this property presents a straightforward framework: pursue retail or commercial activity along the road frontage, while considering multi-family apartments toward the rear. It is also noted to be located in the 301 School District, which can be a relevant factor for multi-family planning and tenant demographics when designing a residential component.
Key Highlights
- 18 acres of land along Randall, adjoining the Otter Creek Shopping Center on the south end
- City is open to retail/commercial on the frontage of the land
- Multi‑family apartments allowed on the rear per city openness
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
Explore this area
Business Placement
Demographics for 60123, IL
47,932
Population
18,129
Households
2.6
Avg Household Size
37
Median Age
24%
College-Educated
84%
High-School Grad
14.0 sq mi
ZIP Area
3,424
Density / Sq Mi
$86,762
Median Household Income
$40,288
Median Earnings
$1,226
Median Rent
$242,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - 18 acres along Randall next to Otter Creek Shopping Center, with frontage for retail or commercial and rear for apartments.
Where is this commercial land located?
The property is located at 500 S RANDALL Road Elgin, IL.
What is the asking price?
The asking price for this property is $2,350,000.
What are key features of this property?
This property features: 18 acres of land along Randall, adjoining the Otter Creek Shopping Center on the south end; City is open to retail/commercial on the frontage of the land; Multi‑family apartments allowed on the rear per city openness
