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    Property profile & analytics

    474 Smt St Elgin, IL 60120

    • Office Properties & Spaces
    • 4,898 SF
    • 0.34 lot acres
    For Lease
    View listing
    $8 SF/Yr
    Value Estimation
    $225,000
    Last Sale
    Dec 05, 2023
    $255,000
    Location Intelligence
    Property ID
    US28-5728325
    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

    • Office Properties & Spaces

    Property Details for 474 Smt St

    Year built
    1962
    Lot size
    0.34 lot acres
    Property size
    4,898 SF
    Property type
    Office Properties & Spaces
    APN
    06-12-454-017
    APU
    612454017

    Description

    This exceptional two-story office building, located at 474 Summit St, Elgin, IL 60120, offers 7,500 square feet of versatile space, ideal for a variety of uses. The property is zoned Commercial Service Elgin (Kane County, APN: 06-12-454-017) and sits on a 3.6-acre lot. The building features three suites, each independently rentable, with a minimum divisible space of 2,500 square feet and a maximum contiguous space of 7,500 square feet. Currently, all 7,500 square feet are vacant. The building boasts convenient features including ample parking (33 spaces), front and rear wide staircases accessing all levels, a private outside entrance and porch to the upper level, and a separate exterior access point to the fully functional and finished basement. The building is equipped with 200-amp/240-volt 3-phase power. This prime location offers excellent visibility and accessibility, making it an ideal choice for businesses seeking a prominent presence in Elgin. Rental rates are $8-12 per square foot gross, plus utilities. Contact us today to learn more about this exceptional opportunity.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $205,000

    • CAP approach

      CAP return
      Estimation
      6%
      $255,000
      6.5%
      $290,000
      7%
      $275,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $240,000
      Geo Method
      $220,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $225,000
      Retail
      $245,000
      Mixed-Use
      $265,000
      Hospitality
      $240,000
      Educational
      $285,000
      Residential Income
      $215,000
      Energy
      $250,000
      Income-Based Land
      $215,000
      Food Service
      $280,000

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.2719
    Latitude
    42.0465
    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
    $11,727
    $42,520
    $92,725
    $135,245
    -
    $127,560
    $278,175
    $405,735

    Comparable in this City

    • Value Estimation by Request
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      366 Bluff City Blvd

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      366 Bluff City Blvd, Elgin, IL 60120
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      3,227 SF

      693 Dundee Ave

      OFFICE (GENERAL) • 3,227 SF
      693 Dundee Ave, Elgin, IL 60120-3820
      View Details
    • Value Estimation
      $245,000
      780 SF

      1130 Dundee Ave

      OFFICE (GENERAL) • 780 SF
      1130 Dundee Ave, Elgin, IL 60120-2212
      View Details
    • Value Estimation
      $290,000
      10,496 SF

      1185 Dundee Ave

      OFFICE (GENERAL) • 10,496 SF
      1185 Dundee Ave, Elgin, IL 60120-2232
      View Details
    • Value Estimation
      $205,000
      2,914 SF

      820 Dundee Ave

      OFFICE (GENERAL) • 2,914 SF
      820 Dundee Ave, Elgin, IL 60120-3068
      View Details

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    474 Smt St
    Elgin, IL 60120
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    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
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