80 Grove Ave Elgin, IL 60120
- Office Properties & Spaces
- 27,066 SF
Current Use by Public Records
- Office Properties & Spaces
Property Details for 80 Grove Ave
- Year built
- 1920
- Property size
- 27,066 SF
- Property type
- Office Properties & Spaces
Description
This exceptional 27,066 square foot office building enjoys a highly visible location in downtown Elgin, Illinois. Situated at 80 S Grove Avenue, the property boasts prominent frontage on both Riverside Drive, overlooking the Fox River, and Grove Avenue. Its strategic location offers easy access to ample city parking lots and the nearby Festival Park. Currently housing a diverse mix of tenants including a restaurant/bar, event space, entertainment venue, and office spaces, this building presents a unique investment opportunity. Recent significant improvements enhance its value and appeal. These upgrades include a completely renovated concrete basement floor with waterproofing, a new roof installed in 2018, completed tuckpointing on the south side of the building, and the installation of eight newer HVAC systems. The building's versatile layout and prime location offer substantial potential for increased rental income through higher occupancy. The possibilities for this property are truly limitless, making it an attractive prospect for investors seeking a high-upside return. The building's prominent location and recent renovations position it for continued success and growth within the vibrant Elgin market. This is a rare opportunity to acquire a landmark property with significant upside potential in a thriving downtown area. The property is offered at $1,900,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Elgin
- County
- Kane
- State
- Illinois
- Longitude
- -88.283
- Latitude
- 42.0354
