880 Summit St - Commercial LAND FOR SALE


Elgin, IL 60120- Northeast Elgin-Cook309,712 SF
$200,000 USD
224-619-6808
880 Summit St, Elgin, IL for Sale
$200,000 USD
Commercial LAND - FOR SALE
1/8
309,712 SF


HIGHLIGHTS

  • STARTING BID $200,000 | 7.11 Acre Development Site | 150 Residential Units & 17,000 SF Retail Previously Approved | 18K VPD | AUCTION SEPTEMBER 22-24
  • ±7.11-acre development site in Elgin, Illinois, approximately 35 miles northwest of Chicago.
  • Previously approved mixed-use development plan for approximately 150 residential units, ±17,000 SF of retail space, and 312 parking spaces.
  • Surrounded by established retail including Jewel-Osco, Aldi, Walgreens, O’Reilly Auto Parts, Dunkin’, 7-Eleven, Chase, Anytime Fitness, Subway, Taco B
  • Main east-side Elgin commercial corridor location with full ingress/egress from Summit Street and Waverly Drive with traffic counts exceeding 18,000 v
  • Public utilities available including sanitary sewer, storm sewer, and gas, offering a head start for future development planning.

OVERVIEW

Marcus & Millichap presents Bella Casa Development, a rare opportunity to acquire a ±7.11-acre development site along Summit Street in Elgin, Illinois (the “Property”). The Property consists of four parcels and is zoned PAB – Planned Area Business, a zoning designation intended to support planned commercial development serving neighborhood, community, and regional demand. Prior plans contemplated approximately 150 residential units, ±17,000 square feet of retail space, and 312 parking spaces, creating a compelling path for a buyer to revisit a mixed-use development strategy, subject to updated approvals and buyer due diligence. Positioned along Summit Street, one of Elgin’s key commercial corridors, the site benefits from strong frontage, full ingress/egress, available utilities, and proximity to established retail, restaurant, medical, service, and daily-needs users. The surrounding trade area provides meaningful residential density and income demographics, with approximately 181,580 residents and $111,408 average household income within 5 miles. Located approximately 35 miles northwest of Chicago with access to I-90 and the broader Fox Valley employment base, the Property is well suited for a developer seeking an infill mixed-use, multifamily, retail, or service-commercial redevelopment opportunity in the Chicago MSA.

FOR SALE DETAILS

PRICE

$200,000 USD

PRICE/ACRE

$28,129/AC

PRICE/SF

$0.65 USD /SF

# OF LOTS

-

LAND DETAILS

PROPERTY NAME

AUCTION - 7 AC CHICAGO MSA DEVELOPMENT SITE

PROPERTY TYPE

Land

PROPERTY SUBTYPE

Commercial

LAND PROPOSED USE

Commercial, Retail, Mixed Use, Apartment Units

LAND ACRES

7.11 AC

LAND SF

309,712 SF

OFFSITE IMPROVEMENTS

Sewer, Water, Electricity, Gas

ZONING

PAB

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Brian ParmacekMarcus & MillichapMore Info
224-619-6808

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Brian ParmacekMarcus & MillichapMore Info
224-619-6808

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