534 Randall Rd, Unit 34 South Elgin, IL 60177-3315

Property Details for 534 Randall Rd

Year built

2006

Lot size

1.47 lot acres

Property size

5,006 SF

Property type

Commercial real estate

APN

09-05-428-008

APU

905428008

Description

This exceptional investment opportunity presents a fully leased, two-tenant retail storefront in South Elgin, Illinois. The 7,000 square foot property, built in 2006 and renovated in 2024, sits on a 1.3-acre lot at 534 S Randall Rd, 60177. Anchored by Comcast Xfinity and WellNow Urgent Care, both tenants enjoy Net Net leases with a remaining lease term of 8.3 years. The property boasts a strong 6.50% cap rate and a substantial Net Operating Income (NOI) of $289,975. Leases include 10% rent increases every five years, providing significant long-term growth potential. Located in a high-traffic area with over 32,000 vehicles per day, the property benefits from its proximity to a Target Supercenter and other major retailers in South Elgin Commons, South Elgin Crossing, and Silver Glen Crossing. The surrounding area demonstrates high average household income ($187,500+) and significant population growth (8.8% in the past year), ensuring a stable and thriving tenant base. This prime retail location offers a secure, high-yield investment with substantial upside potential. The asking price is $4,460,000, translating to a price per square foot of $637.14. Lease options are available, varying across tenants. This is a rare opportunity to acquire a high-quality, infill retail property in a desirable and affluent location.

Location Insight

City

South Elgin

County

Kane

State

Illinois

Longitude

-88.3414

Latitude

41.9758

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments