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Property profile & analytics

474 Smt St Elgin, IL 60120

  • Office Properties & Spaces
  • 4,898 SF
  • 0.34 lot acres
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
More about this property
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