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400 Riv Rdg Dr Elgin, IL 60123-9370

OFF-MARKET Commercial real estate Google Maps
8,740 SF Built 1980
Individually Owned ~ Est. High Equity
Estimated value (blended)
$365k
Range $329k – $402k (±10%)
Property ID US28-0482091

Property summary

AI-generated overview

This exceptional 14,900-square-foot executive office building in Elgin, Illinois, presents a unique investment opportunity. Situated on a 0.867-acre lot at 400 River Ridge Dr, this two-story, 1978-built brick and steel structure boasts 48 parking spaces and offers unparalleled convenience with quick access to I-90 and IL-31. The main building, designed for optimal productivity, features high-end finishes including high-end cabinetry, French doors, two large conference rooms, an executive office with a fireplace and mini-refrigerator, three 50-inch mounted TVs, crown molding, an executive kitchen, and a workout room. The space includes 30 spacious offices with built-in desks, six large restrooms, two reception areas, a zoned motion-sensor security system, and a complete phone system. Three-zone heating and cooling ensures climate control. The attached 4,400-square-foot garage/warehouse space offers versatile storage options, featuring two separate entrances, three 22-foot-tall garage doors, one 10-foot garage door, and a 35-foot ceiling height. This space also includes two overhead heaters. The building is divisible into three approximately 3,300-square-foot leasable office spaces, making it ideal for investors. Currently, half the building is occupied by a paying tenant, offering immediate income potential. The property's prime location, across from the Holiday Inn Elgin, and its functional amenities make it a perfect fit for a variety of professional services businesses. The net rentable space is 3,300 square feet. The asking price is $1,795,000. A quick closing is possible.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Year built 1980
Total area 8,740 SF
APN 03-34-326-043
UPID US28-0482091

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Clothing & Fashion Store
  • Wedding Service
  • Clothing & Fashion Store
  • Construction Company General Contractor

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$867k
Blend (final) Blend
$365k

Owner & transaction history

since 2025
Last sale
$850,000
6 recorded transactions
2025
$850,000
2012
$450,000
2001
$850,000
1998
Price N/A
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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