Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Elgin Commercial Building For Sale Title is generated by Realmo AI

    530 N Mclean Boulevard, Elgin, IL 60123

    View on Map
    Claim this Listing
    For Sale
    $349,900

    COMMERCIAL - Elgin, IL

    Type:Office
    Lot size:
    0.26 Acres
    Added:
    Oct 24, 2025
    Days on Market:
    203
    Last Refresh:
    May 14 at 6:06 am

    Property Features for 530 N Mclean Boulevard

    General Information

    Property type
    Commercial Sale
    Property subtype
    Office
    Zoning
    COMMR
    Standard status
    Active
    APN
    0610378012
    Lot size
    0.26 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Annual Amount
    8062

    Utilities

    Utilities
    Water Available
    Cooling system
    Central Air

    Building Details

    Year built
    1982
    Floors in Building
    1
    Number of units
    1
    Building materials
    Brick

    We can help!

    Listing Contact
    Jacqueline Casino

    Listing agent Jacqueline Casino License #475126970

    Listing office Redfin Corporation 112 S. Sangamon St. #400, Schamburg, IL

    Listing date Oct 24, 2025

    MLS# 12503426

    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.

    HighLights

    • Prime corner lot location offering outstanding visibility and signage potential.
    • All‑brick, single‑story stand‑alone office building.
    • Blacktop parking lot accommodates 13‑18 vehicles.
    • New roof installed in 2022.
    • Versatile layout adaptable for various business types.
    • Former layout included waiting area, reception, 4‑6 offices, storage, kitchen/breakroom, and two half baths.

    Overview

    This single-story, all-brick, stand-alone office building is situated on a prime corner lot, offering outstanding visibility and excellent signage potential. The property presents a blank canvas suitable for various ventures, including a medical practice, professional service firm, or other business. The former layout featured a welcoming waiting area, reception desk, 4 to 6 private offices, a storage room, a kitchen/breakroom, and two half baths. A blacktop parking lot provides parking space for 13 to 18 vehicles. A new roof was installed in 2022. The property is located in Elgin, Illinois. The lot size is 0.26 acres. The property is zoned COMMR. It is being sold AS-IS.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Cook
    State
    Illinois
    Longitude
    -88.3122142
    Latitude
    42.0464122

    Nearby Similar for Sale

    • $2,000,000
      12,400 SF

      Versatile Commercial Building in Elgin

      12,400 SF commercial building suitable for industrial, flex, or specialty uses.
      1175 Jansen Farm Court, Elgin, IL 60123
      View Details
    • $150,000

      Elgin Commercial Office Condos

      Ground floor office condos in excellent condition with natural light.
      2000 Larkin Avenue, Elgin, IL 60123
      View Details
    • $1,450,000
      9,500 SF

      Elgin Industrial Building with Heavy Power

      Manufacturing-ready industrial building with heavy power, cranes, and recent upgrades.
      303 Elgin Avenue, Elgin, IL 60120
      View Details
    • $99,900

      Elgin Office Suite For Sale

      Ground floor office suite with natural light in Elgin.
      2000 Larkin Avenue, Elgin, IL 60123
      View Details
    • $50,000

      Elgin Commercial Office Suite

      Ground floor office suite in excellent condition with natural light.
      2000 Larkin Avenue, Elgin, IL 60123
      View Details
    • $990,000

      Elgin Mixed-Use Investment Opportunity

      Two-story building with retail and office space, potential residential conversion.
      20-24 Douglas Avenue, Elgin, IL 60120
      View Details
    • $425,000

      Prime Office Space in Elgin

      6,326 SF office space in a busy commercial area.
      85 Market Street, Elgin, IL 60123
      View Details
    • $752,000
      7,918 SF

      Multi-Tenant Office Building For Sale

      Two-story office building with multiple suites and ample parking.
      574 McLean Boulevard , Elgin, IL 60123
      View Details
    • $1,500,000
      5,043 SF

      5,043 SF Retail Building

      Retail building on Randall Road with high traffic volume.
      101 South Randall Road, Elgin, IL, 60123
      View Details
    • Contact for pricing
      442,601 SF

      Versatile Facility with Balanced Space

      Secure facility with warehouse, office space, and ample parking.
      1717 Gifford Rd, Elgin, IL 60120
      View Details
    • $18
      26,799 SF

      Class A Office Building

      Single-story office building near I-90 and Randall Road.
      1752 Capital St, Elgin, IL 60124
      View Details
    • $6,900,000
      24,973 SF

      Former Dealership on 11.16 Acres

      24,973 SF former auto dealership on 11.16 acres.
      1010 East Chicago Street, Elgin, IL, 60120
      View Details

    FAQs

    What type of property is this?
    Office building - Single-story office building on a prime corner lot in Elgin.
    Where is this office building located?
    The property is located at 530 N Mclean Boulevard Elgin, IL.
    What is the asking price?
    The asking price for this property is $349,900.
    What are key features of this property?
    This property features: Prime corner lot location offering outstanding visibility and signage potential.; All‑brick, single‑story stand‑alone office building.; Blacktop parking lot accommodates 13‑18 vehicles.
    (224) 699-5002
    We can help!
    Listing Contact
    Jacqueline Casino
    Real Estate License ID: 475126970
    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
    530 N Mclean Boulevard, Elgin, IL 60123
    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!