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    799 Smt St Elgin, IL 60120

    Sponsored
    For Sale
    $175,000

    23,674 SF Commercial Land, $175,000

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 23,674 square foot commercial land parcel presents a remarkable investment opportunity in the thriving city of Elgin, Illinois. Located at 799 Summit Street, this property boasts a highly desirable Area Business (AB) zoning designation, opening doors to a wide array of commercial development possibilities. The strategic location on Summit Street, a high-traffic thoroughfare with an average daily volume of 13,700 vehicles, ensures exceptional visibility and accessibility for any future business. This prime location is further enhanced by its proximity to established and successful retailers, including an Aldi store, Walgreens, Marathon Gas station, and an AutoZone. The asking price for this exceptional land parcel is $175,000, representing a compelling value proposition in a rapidly growing market. The property's size and zoning provide ample flexibility for a variety of commercial ventures, making it an ideal investment for both seasoned developers and new entrepreneurs seeking a strategic foothold in a vibrant commercial corridor. The property is situated in Kane County, Illinois, and has a zip code of 60120. This is a rare opportunity to acquire a significant commercial land parcel in a prime location with excellent visibility and strong surrounding retail presence. Don't miss this chance to secure your place in Elgin's dynamic commercial landscape.

    Property Features for 799 Smt St

    General Information

    Property type
    Land

    HighLights

    • Price: $175,000
    • High‑traffic location on Summit St. (13,700 vehicles per day)
    • Strong retail co‑tenancy including Aldi, Walgreens, Marathon, and AutoZone.
    • AB (Area Business) zoning.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.2603374
    Latitude
    42.0459062

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    FAQs

    What type of property is this?
    Land - 23,674 SF Commercial Land, $175,000
    Where is this land located?
    The property is located at 799 Smt St Elgin, IL.
    What is the asking price?
    The asking price for this property is $175,000.
    What are key features of this property?
    This property features: Price: $175,000; High-traffic location on Summit St. (13,700 vehicles per day); Strong retail co-tenancy including Aldi, Walgreens, Marathon, and AutoZone.
    Request Owner's contact information
    799 Smt St Elgin, IL 60120
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    Elgin, IL 60120
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    Realmo Value Estimation

    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.

    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.

    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
    799 Smt St Elgin, IL 60120
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