Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1000 W Spring St, Unit 1F South Elgin, IL 60177

    • Office properties & Spaces
    • 6,800 SF
    • 1.18 lot acres
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2082798
    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

    • Aaroco Custom Software / (Bike/Boat/Book/etc) Store / Corporate Office
    • AE Accounting Group / Tax Preparation
    • Sanden Locksmith / Locksmith
    • Jose Chavez: Allstate Insurance / Insurance Agency
    • Reauto / Car Dealership

    Property Details for 1000 W Spring St

    Lot size
    1.18 lot acres
    Property size
    6,800 SF
    Property type
    Office properties & Spaces
    APN
    06-34-100-002
    APU
    634100002

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $695,000
      Market price range: $695k - $2.11M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    South Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3119
    Latitude
    41.9964
    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
    $13,572
    $70,524
    $87,194
    $157,718
    -
    $211,572
    $261,582
    $473,154

    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
      1,350 SF

      460 Briargate Dr Ste, Unit 200

      OFFICE (GENERAL) • 1,350 SF
      460 Briargate Dr Ste, South Elgin, IL 60177-2224
      View Details
    • Value Estimation
      $575,000
      3,050 SF

      455 Briargate Dr

      OFFICE (GENERAL) • 3,050 SF
      455 Briargate Dr, South Elgin, IL 60177-2225
      View Details
    • Value Estimation by Request
      7,930 SF

      618 Randall Rd

      Office properties & Spaces • 7,930 SF
      618 Randall Rd, South Elgin, IL 60177
      View Details
    • Value Estimation by Request
      1,844 SF

      482 Briargate Dr, Unit 102

      OFFICE (GENERAL) • 1,844 SF
      482 Briargate Dr, South Elgin, IL 60177-2225
      View Details
    • Value Estimation by Request
      13,618 SF

      456-467 Redington Dr

      Office properties & Spaces • 13,618 SF
      456-467 Redington Dr, South Elgin, IL 60177
      View Details

    Similar Nearby for Sale

    • $670,000
      8,880 SF

      Mixed-Use Strip Center Investment

      Well-maintained mixed-use strip center with income and upside potential.
      375-395 E State St, 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
    • $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
    • New
      $146,108
      1.68 Acres

      South Elgin Land For Sale

      1.68 acre commercial land available in South Elgin, Illinois.
      1088 Center Dr, South Elgin, IL 60177
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,618 SF

      Crossroads at Briargate Office Suites

      South Elgin Executive Office Space Available
      456-467 Redington Dr, South Elgin, IL 60177
      View Details
    • Contact for pricing
      43,560 SF

      South Elgin Office Space Available

      First floor office space in professional building, South Elgin.
      1000 W Spring St, South Elgin, IL 60177
      View Details
    • Contact for pricing
      743 SF

      Briargate Drive Office Space Rental

      Second floor office space in thriving retail corridor.
      456-467 Briargate Dr, 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
    • Contact for pricing

      Office Space in South Elgin

      Up to 5,190 SF available for lease on second floor.
      456-467 Redington Dr, 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.
    1000 W Spring St, Unit 1F
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!