Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    415 Main St Elburn, IL 60119-9186

    • Commercial real estate
    OFF-MARKET
    Last Sale
    Mar 21, 2025
    $555,000
    Value Estimations
    $555,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2384279
    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

    • Commercial real estate

    Property Details for 415 Main St

    Property type
    Commercial real estate
    APN
    11-05-301-001
    APU
    1105301001

    Description

    This exceptional Class A, 2,579 square-foot executive office building presents a unique owner-user opportunity in the thriving town of Elburn, Illinois. Situated on a prominent corner lot (.59 acres) at 415 S Main St (Rt 47), this freestanding masonry building boasts a dramatic 2017 renovation, showcasing high-end interior finishes. The single-story structure, built in 1995, offers a blend of private offices and conference rooms, along with ample storage space. All electrical systems and the fire suppression system have been updated. The property includes a private parking lot and benefits from a leased ATM drive-thru (5/3 Bank), offering additional income potential. Furniture and equipment are negotiable. The building's B-1 zoning allows for flexibility, and there's potential for expansion by enclosing two existing covered drive-thru lanes. The property's prime location near major roadways (IL Rt 38, Randall Rd) and local businesses (Bob Jass Chevrolet, Ream's Meat Market) ensures high visibility and accessibility. 2023 property taxes were $15,341. The property's PIN is 11-05-301-001. This is an ideal investment for a discerning business seeking a sophisticated and well-maintained office space in a strong market with a population of 176,750 within a 10-mile radius and an average household income of $170,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $390,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Elburn
    County
    Kane
    State
    Illinois
    Longitude
    -88.472
    Latitude
    41.8884
    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
    $14,526
    $49,827
    $105,351
    $155,178
    -
    $149,481
    $316,053
    $465,534

    Comparable in this City

    • Value Estimation by Request
      9.17 Acres

      Il-47

      Land • 9.17 Acres
      0 Il-47, Elburn, IL 60119
      View Details
    • Value Estimation by Request
      5.20 Acres

      Elburn, IL 60119

      COMMERCIAL (GENERAL) • 5.20 Acres
      Elburn, IL 60119
      View Details
    • Value Estimation by Request
      0.55 Acres

      Elburn, IL 60119

      COMMERCIAL (GENERAL) • 0.55 Acres
      Elburn, IL 60119
      View Details
    • Value Estimation by Request

      138 Main St

      COMMERCIAL (GENERAL)
      138 Main St, Elburn, IL 60119-9179
      View Details
    • Value Estimation by Request

      Elburn, IL 60119

      COMMERCIAL (GENERAL)
      Elburn, IL 60119
      View Details
    • Value Estimation by Request

      Railroad Ave

      COMMERCIAL (GENERAL)
      Railroad Ave, Elburn, IL 60119
      View Details

    Similar Nearby for Sale

    • $253,200
      0.75 Acres

      Elburn Retail Outlot: Build-to-Suit

      0.75-acre retail pad, prime location.
      800 Main St, Elburn, IL 60119
      View Details
    • $775,000
      9.17 Acres

      Elburn Commercial Land - 9 Acres

      Prime Elburn commercial land, highway frontage.
      0 Il-47, Elburn, IL 60119
      View Details
    • $1,650,000
      1.02 Acres

      Elburn Manufacturing Warehouse with Contracts

      Established CNC machinery shop with existing contracts and equipment.
      808 Hicks Dr, Elburn, IL 60119
      View Details
    • $105,000
      1.13 Acres

      Elburn Vacant Lot in Cul-de-Sac

      Spacious lot near golf course, train, and downtown Elburn.
      801 Carolyn Ct, Elburn, IL 60119
      View Details
    • $460,000
      2,268 SF

      Elburn Office Building - Main Street

      Spacious Office, Prime Elburn Location
      313 Main St, Elburn, IL 60119
      View Details
    • $160,000
      1.90 Acres

      Elburn Buildable Estate Lot

      1.9-acre lot near downtown Elburn, build your dream home!
      42W613 Meadowsweet Dr, Elburn, IL 60119
      View Details

    Similar Nearby for Lease

    • $18 SF/Yr
      104,735 SF

      Elburn Retail Space Available

      Last remaining suite in thriving center
      800 Main St, Elburn, IL 60119
      View Details
    • $132 SF/Yr
      11,000 SF

      Elburn Industrial Warehouse Unit C

      Prime Elburn location; 4,000 SF warehouse space.
      800 North St, Elburn, IL 60119
      View Details
    • $12 SF/Yr
      9,590 SF

      Prairie Valley Center Office Suites

      Elburn, IL Office Space For Lease
      108 Valley Dr, Elburn, IL 60119
      View Details
    • $18 SF/Yr
      3,500 SF

      Retail Space in Elburn Center

      Last available retail unit in a neighborhood shopping center.
      830 N Main St, Elburn, IL 60119
      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.
    415 Main St
    Elburn, IL 60119-9186
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.