630-729-7944
860 Summit St, Elgin, IL for Sale
Medical - FOR SALE
1/39
null | Request Cap Rate


HIGHLIGHTS

  • 35 high-quality apartment units
  • Expansion potential
  • Faster, more cost-efficient path to market compared to new construction
  • Prime location near shopping, dining, schools, and employment hubs
  • Strong rental demand and connectivity to major roadways and transit

OVERVIEW

Cawley Commercial Real Estate is proud to present an exciting residential conversion opportunity in Elgin, Illinois. This former medical center offers 44,077 square feet on 3.20 acres, complete with 147 parking spaces - a rare advantage for multifamily redevelopment. The current plan calls for 35 apartment units thoughtfully designed across three sections of the building, with expansion potential in the fourth section for even greater density. Large floor plates, abundant natural light, and flexible layouts make the property well -suited for modern apartment living. Ideally located near shopping, dining, schools, and employment hubs, the site is positioned to capture strong rental demand. The generous parking ratio, existing infrastructure, and adaptable design provide a faster, more cost-efficient path to market compared to new construction. This is a unique chance to transform a well-located property into a vibrant residential community, offering investors and developers both immediate momentum and long-term upside.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Fox Valley Medical Center

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

B

YEAR BUILT

1977

SPRINKLERS

-

PARKING SPACES

160

LAND DETAILS

LAND ACRES

3.05 AC

LAND SF

132,858 SF

ZONING

PAB, Elgin

APN/PARCEL ID

06-07-302-078-0000

ASK ABOUT THIS PROPERTY

Rawly Lantz, SIORCawley Commercial Real EstateMore Info
630-729-7944

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Rawly Lantz, SIORCawley Commercial Real EstateMore Info
630-729-7944

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.