Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    618 Randall Rd South Elgin, IL 60177
    Back to Search
    Property profile & analytics

    618 Randall Rd South Elgin, IL 60177

    View on Map
    • Retail properties & Spaces
    • 7,930 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 618 Randall Rd

    Property size
    7,930 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    Silver Glen Crossing, located at 618 S Randall Rd in South Elgin, IL 60177, offers exceptional executive office space for lease. This Kane County property boasts a total of 7,930 square feet, with a significant 6,550 square feet currently vacant and ready for immediate occupancy. The building is classified as both retail and office, offering a versatile space suitable for a variety of businesses. The available space is divided into multiple suites, with two spaces currently available, ranging in size from 1,398 square feet to 6,771 square feet, providing flexibility for businesses of different scales. The property's prime location in South Elgin offers convenient access to major transportation routes, ensuring easy commutes for employees and clients. The building's classification as "Executive Office" suggests a high-quality finish and amenities, ideal for businesses seeking a professional and prestigious address. This is a fantastic opportunity for businesses seeking a well-located, spacious, and adaptable office environment in a thriving Kane County community. Interested parties are encouraged to inquire about lease terms and available suite configurations to find the perfect fit for their operational needs. The property's address is easily accessible via major roadways, making it a convenient location for employees and clients alike. The building's size and layout offer significant potential for customization and adaptation to suit a variety of business requirements.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    South Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3426
    Latitude
    41.9722

    Comparable in this City

    • Value Estimation by Request

      5612 State Rte

      Retail properties & Spaces
      5612 State Rte, South Elgin, IL 60177
      View Details
    • Value Estimation by Request
      39,393 SF

      315 Randall Rd

      Retail properties & Spaces • 39,393 SF
      315 Randall Rd, South Elgin, IL 60177
      View Details
    • Value Estimation by Request
      1,335 SF

      398 Randall Rd

      Retail properties & Spaces • 1,335 SF
      398 Randall Rd, South Elgin, IL 60177
      View Details
    • Value Estimation by Request
      1,664 SF

      696 Spg St

      OFFICE (GENERAL) • 1,664 SF
      696 Spg St, South Elgin, IL 60177-1562
      View Details
    • Value Estimation by Request

      1268 Spring St

      Individual retail properties
      1268 Spring St, South Elgin, IL 60177
      View Details
    • Value Estimation by Request
      32,154 SF

      558-586 Randall Rd

      Retail properties & Spaces • 32,154 SF
      558-586 Randall Rd, South Elgin, IL 60177
      View Details

    Similar Nearby for Sale

    • $670,000
      8,880 SF

      Mixed-Use Strip Center Investment

      Four-unit mixed-use property with income and upside potential.
      375-395 E State St, South Elgin, IL 60177
      View Details
    • Contact for pricing
      19,500 SF

      Veterinary Portfolio in Chicago Suburbs

      Three properties, 100% leased to Mission Pet Health.
      477 Briargate Dr, South Elgin, IL 60177
      View Details
    • $575,000

      Premium Office Condo For Sale

      Two-unit office condo in South Elgin's Thornwood Professional Center.
      460 Briargate Dr, South Elgin, IL 60177
      View Details
    • Contact for pricing
      1,790 SF

      Class A Medical Office Building

      Class A medical office building with strong tenancy.
      2000 Mcdonald Rd, South Elgin, IL 60177
      View Details
    • $575,000

      Premium Office Condo For Sale

      Two-unit office condo in South Elgin's Thornwood Professional Center.
      460 Briargate Dr, South Elgin, IL 60177
      View Details
    • $549,000

      Furnished Office Condo For Sale

      Class A office condominium in South Elgin, Illinois.
      460 Briargate Dr, South Elgin, IL 60177
      View Details

    Similar Nearby for Lease

    • $25 SF/Yr
      2,804 SF

      Turn-Key Restaurant Space Available

      Endcap restaurant space, newly renovated with bar and open kitchen.
      558-586 Randall Rd S, Elgin, IL 60177
      View Details
    • Contact for pricing
      4,166 SF

      Retail Space on Randall Road

      Retail property available for lease in South Elgin, Illinois.
      466-478 Randall Rd, South Elgin, IL 60177
      View Details
    • Contact for pricing
      9,000 SF

      Retail Space Available For Lease

      9,000 square feet retail property for lease.
      151 S Mclean Blvd, South Elgin, IL 60177
      View Details
    • $14 SF/Yr

      Retail/Office Unit on IL Rt 31

      Commercial property with high visibility and ample parking.
      1345 N La Fox St, South Elgin, IL 60177
      View Details
    • $20 SF/Yr

      South Elgin Retail Space Available

      Retail spaces in a busy center, ideal for diverse businesses.
      558-586 Randall Rd, South Elgin, IL 60177
      View Details
    • $13 SF/Yr

      Prime Retail/Office Space Available

      1,800 SF space in a thriving South Elgin strip center.
      212-238 Randall Rd, South Elgin, IL 60177
      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.
    618 Randall Rd
    South Elgin, IL 60177
    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
    618 Randall Rd, South Elgin, IL, 60177
    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!