Industrial Service and Storage
640 Varsity Dr. Elgin, IL 60120
640 Varsity Dr., Elgin, IL, 60120
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For Sale
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Industrial building with triple basin drains, 29 service doors, and outdoor storage on 2.35 acres.
Property Size12,120 SF
Lot Size2.35 Acres
Price / SF$214.52
Days on Market120
Property Features for 640 Varsity Dr.
General Information
- Standard status
- Active
- Size
- 12,120 SF
- Lot size
- 2.35 Acres
- Property subtype
- Industrial
Building Details
- Year Built
- 1973
Listing agency
Entre Commercial Realty LLC
(630) 674-6989
Listed by
Brad Bullington · License #IL 475.134976
Source
Crexi
Added: Mar 24 Updated: Jul 20 at 6:07PM Checked: Jul 20 at 6:07PM
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 Entre Commercial Realty LLC
Investment Insights
Based on property information with market context.
This industrial building totals 12,120 SF and includes outdoor storage on 2.35 acres. The facility was previously used as a repair hub for a vehicle fleet, and it features triple basin drains designed for servicing operations. The building also has 29 service doors throughout, supporting efficient access for multiple vehicles or service bays.
The property is offered for sale at 640 Varsity Dr. in Elgin, IL.
With its service-oriented improvements and substantial door count, the space is well suited for warehouse and repair-related functions that benefit from direct ground-level access and outdoor storage.
The property is offered for sale at 640 Varsity Dr. in Elgin, IL.
With its service-oriented improvements and substantial door count, the space is well suited for warehouse and repair-related functions that benefit from direct ground-level access and outdoor storage.
Key Highlights
- 12,120 SF industrial building on 2.35 acres
- Equipped with triple basin drains for vehicle/service use
- 29 service doors throughout the building
Local Financial Insights For Retail
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 | $261.8k | $21.60 |
| − Vacancy | −$21.5k | −$1.77 |
| EGI | $240.3k | $19.83 |
| − OpEx | −$72.1k | −$5.95 |
| NOI | $168.2k | $13.88 |
12,120 SF · lease $21.60/SF/yr · vacancy 8.20% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.40M
$2.10M – $2.80M
NOI $168,228 @ 7.0% cap · market cap 6.47%
Second Best
Warehouse
$905.0K
$791.9K – $1.06M
NOI $63,352 @ 7.0% cap · market cap 2.44%
Theoretical Best
Office A
$4.18M
$3.66M – $4.88M
NOI $292,914 @ 7.0% cap · market cap 11.27%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Winter Services LLC
Landscaping
Ultimate Spray - N ...
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Ppg Collision Repair Center — 1030 Bluff City Blvd, Elgin, IL 60120
- Classic Auto Care — 1020 Bluff City Blvd # D, Elgin, IL 60120
- Gto Auto & Truck Repair 2 Service — 1050 Bluff City Blvd, Elgin, IL 60120
- Gigas auto — 885 Gifford Rd, Elgin, IL 60120
- A and A mechanic shop — 1020 Bluff City Blvd, Elgin, IL 60120
FAQs
What type of property is this?
Auto shop - Industrial building with triple basin drains, 29 service doors, and outdoor storage on 2.35 acres.
Where is this auto shop located?
The property is located at 640 Varsity Dr. Elgin, IL.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 12,120 SF industrial building on 2.35 acres; Equipped with triple basin drains for vehicle/service use; 29 service doors throughout the building
