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

    1400 Getzelman Dr, Unit 10 Elgin, IL 60123-2052

    • Apartment buildings
    • 9,172 SF
    • 0.50 lot acres
    OFF-MARKET
    Value Estimations
    $920,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0492122
    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

    • Apartment buildings

    Property Details for 1400 Getzelman Dr

    Year built
    1971
    Lot size
    0.50 lot acres
    Property size
    9,172 SF
    Property type
    Apartment buildings
    APN
    06-10-178-010
    APU
    610178010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,143,000
      Market price range: $786k - $1.57M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,100,000
      Current use
      COMMERCIAL (GENERAL)
      $1,295,000
      Change: +18% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Elgin
    County
    Kane
    State
    Illinois
    Longitude
    -88.3123
    Latitude
    42.0545
    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
    $24,898
    $45,273
    $241,862
    $287,135
    -
    $135,819
    $725,586
    $861,405

    Comparable in this City

    • Value Estimation by Request
      0.13 Acres

      6-18 Mark Ave

      APARTMENT HOUSE (5+ UNITS) • 0.13 Acres
      6-18 Mark Ave, Elgin, IL 60123
      View Details
    • Value Estimation
      $7,295,000
      87,364 SF

      717-721 Highland Ave

      APARTMENT HOUSE (5+ UNITS) • 87,364 SF
      717-721 Highland Ave, Elgin, IL 60123
      View Details
    • Value Estimation by Request
      4,665 SF

      304 Mtn St

      APARTMENT HOUSE (5+ UNITS) • 4,665 SF
      304 Mtn St, Elgin, IL 60123-5491
      View Details
    • Value Estimation
      $1,495,000
      10,862 SF

      389 Crystal St

      APARTMENT HOUSE (5+ UNITS) • 10,862 SF
      389 Crystal St, Elgin, IL 60123-3506
      View Details
    • Value Estimation
      $720,000
      7,200 SF

      1886 Mark Ave

      APARTMENT HOUSE (5+ UNITS) • 7,200 SF
      1886 Mark Ave, Elgin, IL 60123-2913
      View Details
    • Value Estimation
      $1,160,000
      7,848 SF

      1440 Getzelman Dr, Unit 50

      APARTMENT HOUSE (5+ UNITS) • 7,848 SF
      1440 Getzelman Dr, Elgin, IL 60123-2055
      View Details

    Similar Nearby for Sale

    • $80,000
      1,008 SF

      Elgin Medical Condo - Great Location

      Turn-key medical office condo, 1008 sq ft.
      1590 Weatherstone Ln, Elgin, IL 60123
      View Details
    • $310,000

      Well-Maintained Elgin Investment Property

      Two-unit property with stable income and recent upgrades.
      462 Ashland Ave, Elgin, IL 60123
      View Details
    • $645,000
      0.26 Acres

      Elgin Four-Unit Income Property

      Spacious four-unit building with income potential in Elgin, Illinois.
      532 South St, Elgin, IL 60123
      View Details
    • $489,900

      Spacious Elgin Duplex Near Park

      Large side-by-side duplex with updated unit and rental potential.
      1583-1585 Sheffield Dr, Elgin, IL 60123
      View Details
    • Contact for pricing

      Spacious Duplex with Updated Unit

      Large side-by-side duplex with updated unit, near park.
      1583-1585 Sheffield Dr, Elgin, IL 60123
      View Details
    • $39,900

      Willow Lakes Estates Home

      Two-bedroom home in a 55+ community with amenities.
      1178 Country Clb Dr, Elgin, IL 60123
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Opportunity Inside Meijer Store

      Prime retail spaces available within high-traffic Meijer stores.
      815 S Randall Rd, Elgin, IL 60123
      View Details
    • Contact for pricing

      Elgin Commercial Property For Lease

      Commercial property available for lease in Elgin, Illinois.
      1575-1595 Highpoint Dr, Elgin, IL 60123
      View Details
    • Contact for pricing

      Class A Office Building

      Class A office building with flexible spaces for lease.
      2250 Point Blvd, Elgin, IL 60123
      View Details
    • $17 SF/Yr

      Class A Medical Office Building

      Four-story medical office building with modern finishes and abundant parking.
      1600 North Randall Rd, Elgin, IL 60123
      View Details
    • Contact for pricing
      437,930 SF

      Class A Industrial Space Available

      Class A industrial space with I-90 frontage in Elgin, IL.
      1100-1120 Tollgate Rd, Elgin, IL 60123
      View Details
    • Contact for pricing
      51,106 SF

      Medical Office Space For Lease

      Medical office space for lease, convenient location near hospital.
      1975 Lin Lor Ln, Elgin, IL 60123
      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.
    1400 Getzelman Dr, Unit 10
    Elgin, IL 60123-2052
    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!