1881 Larkin Ave Elgin, IL 60123-5818
- Commercial real estate
- 10,500 SF
Jun 02, 2023
Current Use by Public Records
- Nancy Navarro - State Farm Insurance Agent / Insurance Agency / Auto Insurance Agency
- UPS Access Point location / Shipping And Mailing Service / Mailing Service
- Advance Auto Parts / Tool Rental Service / Truck Accessories Store
- Fade Stars Elgin / Barber Shop
- D.No The Barber / Barber Shop
Property Details for 1881 Larkin Ave
- Year built
- 2004
- Property size
- 10,500 SF
- Property type
- Commercial real estate
- APN
- 06-16-477-033
- APU
- 616477033
Description
This exceptional 1,000-square-foot retail end cap space presents a fantastic opportunity for a business seeking high visibility and strong foot traffic. Located on Larkin Avenue, this single-tenant property benefits from its prime position within a vibrant commercial area. The space is part of a retail center anchored by Advanced Auto Parts, ensuring consistent customer flow and brand recognition. Neighboring businesses include established and reputable companies such as State Farm and Fade Cuts Barber, creating a synergistic and attractive retail environment. The location boasts an impressive 17,000 vehicles per day (VPD), guaranteeing significant exposure to potential customers. Its proximity to key community institutions, including Larkin High School, Elgin Community College, and St. Joseph Hospital, further enhances its appeal and accessibility. The property includes convenient access to 52 total parking spaces, ensuring ample parking for both customers and employees. This Kane County property is classified as a traditional office space, suitable for a variety of retail businesses. The property is currently vacant and ready for immediate occupancy. This is an ideal location for a business seeking a high-traffic, well-established retail environment with strong community ties. The space offers excellent potential for growth and success.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,215,000
- ML approach
- $2,070,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,175,000
- 6.5%
- $2,005,000
- 7%
- $1,865,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,847,000
- AI Estimate
- $1,334,000
Market price range: $869k - $4.02MMarket price range: $445k - $1.83M -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $1,485,000 Current use
- APARTMENT HOUSE (5+ UNITS)
- $1,260,000 Change: -15% Conversion: Moderate
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Elgin
- County
- Kane
- State
- Illinois
- Longitude
- -88.3236
- Latitude
- 42.0326
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA