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    1200 Chicago St Elgin, IL 60120

    Sponsored
    For Sale
    Contact for pricing

    Large former bank, high visibility, 7.21 acres.

    Property size:
    27,150 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional commercial property, located at 1200 E. Chicago Street in Elgin, Illinois, presents a unique investment opportunity. The property encompasses a substantial 27,150 square feet of retail space, previously utilized as a bank. Situated on a generous 7.21-acre lot, the site boasts significant frontage and visibility on Chicago Street (Route 19), ensuring high traffic exposure. Multiple points of ingress and egress along Chicago Street provide convenient access. The property is zoned for commercial use, offering flexibility for a variety of businesses. While previously a bank, the building's history also includes use as an automobile dealership, and some furniture, fixtures, and equipment remain. The strong area demographics and daytime population create a favorable market for a wide range of commercial ventures. This prime location in Cook County, Illinois, zip code 60120, offers an unparalleled chance to establish a thriving business in a high-traffic area. The property's size and location make it ideal for redevelopment or repurposing to suit a variety of commercial needs. This is a rare opportunity to acquire a significant commercial property in a desirable location with excellent visibility and access.

    Property Features for 1200 Chicago St

    General Information

    Property type
    Individual retail properties
    Square Feet
    27,150 SF
    Lot Size
    314,068 SF

    HighLights

    • 27,150 SF retail space on a 7.21‑acre lot in Elgin, IL.
    • High visibility & traffic on Route 19 (Chicago Street) with multiple access points.
    • Commercial zoning allows for flexible use.
    • Previously a bank and auto dealership; some FF&E remain.
    • Strong demographics and high daytime population in Cook County, IL (zip code 60120).
    Property Profile Location Intelligence

    Current Use by Public Records

    Banks

    Map

    City
    Elgin
    County
    Cook
    State
    Illinois
    Longitude
    -88.243502106563
    Latitude
    42.030977548203

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    FAQs

    What type of property is this?
    Individual retail property - Large former bank, high visibility, 7.21 acres.
    Where is this individual retail property located?
    The property is located at 1200 Chicago St Elgin, IL.
    What are key features of this property?
    This property features: 27,150 SF retail space on a 7.21-acre lot in Elgin, IL.; High visibility & traffic on Route 19 (Chicago Street) with multiple access points.; Commercial zoning allows for flexible use.
    Request Owner's contact information
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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
    1200 Chicago St Elgin, IL 60120
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