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    3211 Us-20 Hampshire, IL 60124
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    3211 Us-20 Hampshire, IL 60124

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    • Retail properties & Spaces
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    Cap Rate Potential
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    • Retail properties & Spaces

    Property Details for 3211 Us-20

    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    Elgin Plaza, located at 3211 US-20 in Hampshire, Illinois (zip code 60124), offers exceptional retail opportunities in a rapidly developing area of Kane County. This property features multiple tenancy options, with available spaces ranging from 1,000 to 9,000 square feet. The flexible layout accommodates a variety of retail uses, including inline spaces and endcap/drive-thru possibilities, ideal for businesses seeking high visibility and convenient access. The property's strategic location ensures strong foot traffic and excellent exposure to a substantial customer base. Beyond the existing retail spaces, the site also presents an attractive opportunity for ground lease or build-to-suit (BTS) development for freestanding retailers. This makes Elgin Plaza a versatile option for businesses seeking to establish a presence in a thriving market. The property is classified as Retail, Land, and Restaurant, offering a diverse range of potential uses. Interested parties are encouraged to explore the possibilities this prime location offers. Contact us to learn more about available spaces and leasing options.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Hampshire
    County
    Kane
    State
    Illinois
    Longitude
    -88.4111
    Latitude
    42.0655

    Comparable in this City

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      104.14 Acres

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      0.07 Acres

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      COMMERCIAL (GENERAL) • 0.07 Acres
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      COMMERCIAL (GENERAL)
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    • Value Estimation by Request

      Elgin, IL 60124

      COMMERCIAL (GENERAL)
      Elgin, IL 60124
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    Similar Nearby for Sale

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      10,076 SF

      Established Restaurant and Bar Opportunity

      Turnkey restaurant and bar with seating for over 300.
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      Vacant Land For Sale

      Vacant land available for sale.
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      Pad Ready Site For Sale

      Improved site with flexible zoning near I-90 interchange.
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      Vacant Land in Business Park

      3.95 acre vacant land for sale or lease.
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    • $190,000
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      Elgin Land for Townhomes

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      1121 Iron Horse Ct, Elgin, IL 60124
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    Similar Nearby for Lease

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      1,475 SF

      Retail Space in Elgin Galleria

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      2,120 SF

      Retail Space in Elgin Galleria

      Retail space available in Elgin, Illinois, near transportation and amenities.
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      Retail Space on Route 20

      Retail space available in high-traffic Elgin center on Route 20.
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      Elgin Retail/Office Corner Unit

      High-visibility corner unit suitable for retail or office use.
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    3211 Us-20
    Hampshire, IL 60124
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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