Market Summary

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Price                                    $1,330,000

Cap Rate                             8.56%

NOI                                      $113,864

Rentable SF                        11,665 SF

Price per SF                        $114.02

Year Built                            1991

Lot Size                               0.47 Acres

Description

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Marcus & Millichap is pleased to present 1250 Larkin Avenue in Elgin, IL. The property is an all brick veneer and dryvit construction, 100 percent occupied multi-tenant office building. Built-in 1991, the building has a long history of stable occupancy and excellent tenants. The buyer for this property will be looking for stability and quality of the asset. All brick construction and a pitched shingled roof are two areas that will reduce maintenance costs over time.

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The two-story property is an excellent choice for employers looking for social distancing. Employees can walk directly in from the parking lot to the first-floor suite and either take the stairs or elevator to the second floor or lower level. The building has wide hallways to keep people away from each other as well.

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Elgin offers exceptional opportunities that include cultural arts, entertainment, and recreation that are unmatched by surrounding suburbs. Located 38 miles northwest of Chicago and is approximately 20 minutes from O'Hare International Airport, as well as home to over 112,000 people. Elgin is proud of its diversity and culture. The growing City enjoys ready access to public transportation, diverse housing stock, and a mix of commercial establishments. Residents and visitors enjoy a thriving cultural arts community, world-class parks, golf courses and historical museums.