Auto Shop with Overhead
824 E Chicago Street, Elgin, IL 60120
For Sale
$479,000
An existing automotive facility offers service-oriented features, customer space, and storage across two levels.
Property Size7,940 SF
Price / SF$60.33
Days on Market53
Property Features for 824 E Chicago Street
General Information
Standard status
Size
Property subtype
Additional Details
Real Estate Included
Taxes and HOA fees
Annual Taxes
Amenities
low-maintenance exterior
high ceiling clearance
floor drains
front and rear overhead doors
mezzanine
sealed epoxy floors
dedicated office
customer space
two ADA accessible restrooms
on-site parking
waste-oil reclamation heating system
Building Details
Building Size
Year Built
Buildings
Listing Agency:
Berkshire Hathaway HomeServices Starck Real Estate
(847) 310-1886
Listed By:
Jon Johnson
(847) 271-7123
Source:
Premier-relocation
Added: Sep 18
Changed: Nov 8
Last Checked: Nov 8 at 7:39PM
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 Berkshire Hathaway HomeServices Starck Real Estate
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Investment Insights
Based on property information with market context.
This 7,940-square-foot auto shop, built in 1972, includes floor drains, sealed epoxy flooring, and overhead doors at both the front and rear. Additional features include high ceilings, second-floor storage with a mezzanine, customer space, and two ADA-accessible restrooms. A waste-oil reclamation system provides building heat. Vehicle lifts, tools, and shop equipment are excluded from the sale.
The property is at 824 E Chicago Street in Elgin, along a corridor with reported daily traffic of more than 7,500 vehicles. Nearby businesses named in the property information include Pizza Hut, Dunkin’, 7-Eleven, and Enterprise.
The property is at 824 E Chicago Street in Elgin, along a corridor with reported daily traffic of more than 7,500 vehicles. Nearby businesses named in the property information include Pizza Hut, Dunkin’, 7-Eleven, and Enterprise.
Key Highlights
- 7,940‑square‑foot automotive facility built in 1972
- Front and rear overhead doors, with floor drains and sealed epoxy flooring
- Second‑floor storage areas and mezzanine
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,179
Cap Rate
7.14%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,580
$683.6K
Cap Rate 7%
$488,271
$488.3K
Cap Rate 9%
$379,767
$379.8K
Market Conditions
NOI Build-Up for 7,940 SF
Gross rent
$51.5K $6.48/SF
− Vacancy
−$2.6K −$0.33/SF
EGI
$48.8K $6.15/SF
− OpEx
−$14.6K −$1.84/SF
NOI
$34.2K $4.30/SF
Area
Cook County, IL
Vacancy
5.10%
Lease Rate
$6.48 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$683,580
Cap Rate 7%
$488,271
Cap Rate 9%
$379,767
Alternative Uses
Best Use
Retail
$1.60M
$1.40M – $1.86M
NOI $111,679 @ 7.0% cap · market cap 23.32%
Second Best
Industrial
$488.3K
$427.2K – $569.7K
NOI $34,179 @ 7.0% cap · market cap 7.14%
Theoretical Best
Office A
$3.05M
$2.67M – $3.56M
NOI $213,427 @ 7.0% cap · market cap 44.56%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
387
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 60120, IL
50,799
Population
17,112
Households
3
Avg Household Size
35
Median Age
19%
College-Educated
74%
High-School Grad
17.4 sq mi
ZIP Area
2,919
Density / Sq Mi
$80,305
Median Household Income
$37,495
Median Earnings
$1,250
Median Rent
$227,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Auto shops in Cook County, IL
Properties on Market for Auto shops in Cook County
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- All American Auto Body — 953 Villa St, Elgin, IL 60120
- All in One Automotive — 966 Villa St, Elgin, IL 60120
- Forrest Auto Body — 950 Villa St, Elgin, IL 60120
- El Mofles Auto Service — 952 Villa St, Elgin, IL 60120
- Sergio's Auto Repair — 600 Varsity Dr., Elgin, IL 60120
Frequently Asked Questions
What type of property is this?
Auto shop - An existing automotive facility offers service-oriented features, customer space, and storage across two levels.
Where is this auto shop located?
The property is located at 824 E Chicago Street Elgin, IL.
What is the asking price?
The asking price for this property is $479,000.
What are key features of this property?
This property features: 7,940‑square‑foot automotive facility built in 1972; Front and rear overhead doors, with floor drains and sealed epoxy flooring; Second‑floor storage areas and mezzanine
