Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    1040 Chicago St Elgin, IL 60120

    • Commercial real estate
    • 2.30 lot acres
    For Sale
    View listing
    Value Estimation
    Last Sale
    Apr 24, 2020
    $675,000
    Location Intelligence
    Property ID
    US28-1571989
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1040 Chicago St

    Year built
    1984
    Lot size
    2.30 lot acres
    Property type
    Commercial real estate
    APN
    06-18-400-050
    APU
    618400050

    Description

    This exceptional commercial property, located at 1040 E Chicago Street in Elgin, Illinois, presents a significant opportunity for automotive businesses. The 13,200 square foot building sits on a substantial 2.5-acre lot, offering ample space for operations and expansion. The property boasts excellent visibility and frontage on Chicago Street (Route 19), ensuring high traffic and brand recognition. Full motion access from East Chicago Street provides convenient ingress and egress. Inside, the shop area features a generous 16-foot clear height, ideal for accommodating various automotive needs. The property is zoned C1-Commercial Industrial, making it suitable for a range of automotive-related uses. The strong area demographics and substantial daytime population create a robust customer base. This location offers a unique blend of size, visibility, and accessibility, making it an attractive investment for discerning buyers. The property's address is 1040 E Chicago St, Elgin, IL 60120, situated in Cook County.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $690,000

    • CAP approach

      CAP return
      Estimation
      6%
      $620,000
      6.5%
      $640,000
      7%
      $670,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $625,000
      Geo Method
      $555,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $720,000
      Retail
      $665,000
      Mixed-Use
      $770,000
      Hospitality
      $745,000
      Educational
      $800,000
      Residential Income
      $600,000
      Energy
      $685,000
      Income-Based Land
      $610,000
      Food Service
      $585,000

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Cook
    State
    Illinois
    Longitude
    -88.2503
    Latitude
    42.0335
    CBSA code
    16980
    CBSA name
    CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $47,206
    $150,594
    $18,155
    $168,749
    -
    $602,376
    $72,620
    $674,996

    Comparable in this City

    • Value Estimation by Request

      Elgin, IL 60120

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

      370 Brk St

      COMMERCIAL (GENERAL) • 0.10 Acres
      370 Brk St, Elgin, IL 60120-4153
      View Details
    • Value Estimation by Request

      Brk St

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

      Ctr St

      COMMERCIAL (GENERAL) • 0.65 Acres
      Ctr St, Elgin, IL 60120
      View Details
    • Value Estimation by Request
      0.20 Acres

      Ctr St

      COMMERCIAL (GENERAL) • 0.20 Acres
      Ctr St, Elgin, IL 60120
      View Details
    • Value Estimation by Request

      Ctr St

      COMMERCIAL (GENERAL)
      Ctr St, Elgin, IL 60120
      View Details

    Similar Nearby for Sale

    • $2,090,880
      12.00 Acres

      Elgin Industrial Land: 12 Acres

      Prime Elgin location, 12 acres, $4/sq ft.
      1451 Dundee Ave, Elgin, IL 60120
      View Details
    • $175,000

      Elgin Commercial Land: Prime Location

      23,674 SF Commercial Land, $175,000
      799 Smt St, Elgin, IL 60120
      View Details
    • Contact for pricing
      4.46 Acres

      Prime Elgin Commercial Land

      4.46 Acres, I-90 Frontage, PORI Zoning
      0 Lot 2- Randall Pt, Elgin, IL 60120
      View Details
    • $45,000

      Land For Sale in Elgin

      Land available in Elgin, close to transportation and shopping.
      1 Congdon Ave, Elgin, IL 60120
      View Details
    • $345,900
      1,662 SF

      Spacious Townhome in Cobbler's Crossing

      3 bed, 2.5 bath townhome with updated kitchen.
      881 Dandridge Ct, Elgin, IL 60120
      View Details
    • Contact for pricing
      157 SF

      Unincorporated Cook County Land Available

      Land suitable for industrial, logistics, data centers, headquarters.
      I-90 & Barrington Rd, South Barrington, IL 60120
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Elgin Office Suite For Rent

      Professional office suite in high-traffic commercial district, ideal for various businesses.
      1 American Way, Elgin, IL 60120
      View Details
    • Contact for pricing

      Elgin Industrial Rental Unit

      1500 SF warehouse with mezzanine and designated parking.
      765 Villa St, Elgin, IL 60120
      View Details
    • $5 SF/Yr
      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

      Downtown Elgin Street-Level Office Space

      Move-in ready office space in a vibrant downtown setting.
      50 S Grv Ave, Elgin, IL 60120
      View Details
    • $1,900 /Mo
      1,029 SF

      Oakwood Hills Ranch Condo Rental

      Spacious 2 bed, 2 bath condo with modern amenities.
      408 Woodview Cir, Elgin, IL 60120
      View Details
    • $18 SF/Yr
      1,325 SF

      Retail Space in Elgin, IL

      Retail space available for lease in Elgin, Illinois.
      40 Du Page 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.
    1040 Chicago St
    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 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
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.