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    Property profile & analytics

    1015 Smt St Elgin, IL 60120-4362

    • Retail space
    • 2.24 lot acres
    OFF-MARKET
    Value Estimation
    $980,000
    Last Sale
    Jan 15, 2021
    $1,000,000
    Location Intelligence
    Property ID
    US28-1288276
    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

    • Retail space

    Property Details for 1015 Smt St

    Year built
    1985
    Lot size
    2.24 lot acres
    Property type
    Retail space
    Property subtype
    Storefront properties
    APN
    06-07-302-064
    APU
    607302064

    Description

    This exceptional two-story office building, totaling 11,288 square feet, is ideally situated in the heart of Elgin, Illinois, at 1015 Summit St, zip code 60120. Constructed in 1985, the property offers multiple tenancy options, catering to a variety of office needs, including medical, executive, and traditional office uses. The building boasts excellent visibility thanks to its prominent location and monument signage facing Summit Street. Available suites feature convenient in-suite restrooms and the benefit of direct suite entrances. The existing layouts are particularly well-suited for medical and healthcare practices, offering a seamless transition for tenants. This property presents a unique opportunity for businesses seeking a well-maintained, strategically located office space in a thriving Illinois community. The building's central Elgin location provides easy access to surrounding areas, making it an attractive option for both employees and clients. Interested parties are encouraged to inquire about available suite sizes and lease terms. The property is ready for immediate occupancy.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $940,000

    • CAP approach

      CAP return
      Estimation
      6%
      $960,000
      6.5%
      $1,070,000
      7%
      $1,065,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $1,065,000
      Geo Method
      $1,085,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $1,060,000
      Retail
      $925,000
      Mixed-Use
      $820,000
      Hospitality
      $875,000
      Educational
      $815,000
      Residential Income
      $1,055,000
      Energy
      $890,000
      Income-Based Land
      $980,000
      Food Service
      $980,000

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Cook
    State
    Illinois
    Longitude
    -88.2536
    Latitude
    42.0457
    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
    $70,056
    $233,377
    $17,057
    $250,434
    -
    $933,508
    $68,228
    $1,001,736

    Comparable in this City

    • Value Estimation
      $725,000
      0.60 Acres

      1 American Way

      STORE, RETAIL OUTLET • 0.60 Acres
      1 American Way, Elgin, IL 60120-4340
      View Details
    • Value Estimation by Request
      0.35 Acres

      1157 Blf City Blvd

      RETAIL STORES (PERSONAL SERVICES) • 0.35 Acres
      1157 Blf City Blvd, Elgin, IL 60120-7410
      View Details
    • Value Estimation
      $620,000
      0.23 Acres

      720 Chicago St

      RETAIL STORES (PERSONAL SERVICES) • 0.23 Acres
      720 Chicago St, Elgin, IL 60120-6856
      View Details
    • Value Estimation
      $940,000
      3.66 Acres

      225 Willard Ave

      RETAIL STORES (PERSONAL SERVICES) • 3.66 Acres
      225 Willard Ave, Elgin, IL 60120-6808
      View Details
    • Value Estimation by Request
      0.46 Acres

      957 Smt St

      RETAIL STORES (PERSONAL SERVICES) • 0.46 Acres
      957 Smt St, Elgin, IL 60120-4317
      View Details
    • Value Estimation by Request
      0.26 Acres

      959 Villa St

      RETAIL STORES (PERSONAL SERVICES) • 0.26 Acres
      959 Villa St, Elgin, IL 60120-8173
      View Details

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    Similar Nearby for Lease

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      Professional office suite in high-traffic commercial district, ideal for various businesses.
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      Elgin Industrial Rental Unit

      1500 SF warehouse with mezzanine and designated parking.
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    1015 Smt St
    Elgin, IL 60120-4362
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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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