Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    17-27 Grove Ave Elgin, IL 60120
    Back to Search
    Property profile & analytics

    17-27 Grove Ave, Elgin, IL 60120

    View on Map
    • Mixed-use properties
    • 6,344 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Mixed-use properties

    Property Details for 17-27 Grove Ave

    Year built
    1880
    Property type
    Mixed-use properties

    Description

    Restaurants

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.2846
    Latitude
    42.0378

    Comparable in this City

    • Value Estimation by Request
      1,594 SF

      601 Hill Ave

      Mixed-use properties
      601 Hill Ave, Elgin, IL 60120
      View Details
    • Value Estimation by Request
      27,066 SF

      80 Grove Ave

      Office Spaces
      80 Grove Ave, Elgin, IL 60120
      View Details
    • Value Estimation by Request

      Smt St

      COMMERCIAL (GENERAL)
      Smt St, Elgin, IL 60120
      View Details
    • Value Estimation by Request
      0.39 Acres

      850 Smt St

      FINANCIAL BUILDING
      850 Smt St, Elgin, IL 60120-4316
      View Details
    • Value Estimation by Request
      0.12 Acres

      217 Symphony Way

      COMMERCIAL (GENERAL)
      217 Symphony Way, Elgin, IL 60120-5592
      View Details
    • Value Estimation by Request
      0.17 Acres

      848 Villa St

      AUTO REPAIR, GARAGE
      848 Villa St, Elgin, IL 60120-8047
      View Details

    Similar Nearby for Sale

    • $895,000
      14,000 SF

      Elgin Two-Story Commercial Building

      Two-story commercial building suitable for office, retail, or residential use.
      20-24 Douglas Ave, Elgin, IL 60120
      View Details
    • $6,900,000
      24,973 SF

      Former Dealership on 11.16 Acres

      24,973 SF former auto dealership on 11.16 acres.
      1010 East Chicago St, Elgin, IL 60120
      View Details
    • $45,000

      Residential Land in Elgin, Illinois

      Residential land for sale in a convenient Elgin location.
      1 Congdon Ave, Elgin, IL 60120
      View Details
    • Contact for pricing

      Unincorporated Cook County Land Available

      Land suitable for industrial, logistics, data centers, headquarters.
      Barrington, IL 60120
      View Details
    • $295,000
      0.50 Acres

      Elgin Land on Route 25

      Approximately 0.5 acre corner lot with access to I-90.
      1409 Dundee Ave, Elgin, IL 60120
      View Details
    • $1,450,000
      9,500 SF

      Elgin Industrial Building with Heavy Power

      Manufacturing-ready industrial building with heavy power, cranes, and recent upgrades.
      303 Elgin Ave, Elgin, IL 60120
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,180 SF

      Elgin Office Space Available

      5,180 SF office space for rent in Elgin, IL.
      30 Du Page Ct, Elgin, IL 60120
      View Details
    • Contact for pricing

      Elgin Commercial Space For Rent

      Former bar space available in downtown Elgin, ready for occupancy.
      76 S Grove Ave, Elgin, IL 60120
      View Details
    • Contact for pricing

      Elgin Industrial Site For Rent

      5.42 acre fenced site with two industrial buildings.
      301 Ramona Ave, Elgin, IL 60120
      View Details
    • Contact for pricing

      Professional Office Spaces Available

      Professional office spaces available for lease in Elgin, Illinois.
      105 S Grove Ave, Elgin, IL 60120
      View Details
    • Contact for pricing
      4,610 SF

      Elgin Retail Space Available

      Corner retail space near downtown Elgin and I-90.
      611 Dundee Ave, Elgin, IL 60120
      View Details
    • Contact for pricing
      3,792 SF

      Retail Space Available For Rent

      Retail shop space available for rent.
      1020-1050 Summit St, Elgin, IL 60120
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    17-27 Grove Ave
    Elgin, IL 60120
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    17-27 Grove Ave, Elgin, IL, 60120
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!