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Renovated Office | Lease-Up or Owner-User Opp 1 American Way 8,445 SF 25% Leased Office Building Online Auction Sale Elgin, IL 60120
Matterport 3D Tours
Investment Highlights
- Welcome to One American Way, a two-story professional office renovated in 2023 with luxury finishes and prestigious tenant amenities.
- Comprising two professional condo units on each floor, partial occupancy provides rental income while luxury finishes boost leasing momentum.
- One American Way has historically accommodated a variety of professionals, from standard office administration to medical, flex, and finance.
- Located off I-90, less than an hour from Downtown Chicago, Chicago O’Hare, and Chicago Midway, supporting daily commuters and business travelers.
- Over a quarter of the 5-mile radius has attained a bachelor’s degree or higher level of education, showcasing a robust professional workforce.
- Elgin, a historic and scenic suburb outside of Chicago, runs along the Fox River with numerous landmarks and museums paying homage to its roots.
Executive Summary
The One American Way building stands tall with its two floors, offering a blend of modern amenities and functional spaces. The building primarily houses various offices and workspaces, designed to cater to the needs of its diverse occupants.
This solid brick building benefits from a prime location with 165 feet of frontage on Route 58 (Summit Street), just a few miles from Interstate 90. The building features an elevator and was renovated in 2023 with luxury finishes, including imported Italian floors, modern lighting, and elegant wall treatments. The property currently consists of four separate units: two lower-level units (approximately 1,500 to 2,000 square feet each) and two upper-level units (approximately 1,720 square feet each). The condo units can be combined to meet tenants' needs, and each unit has individual utilities. Common areas include ADA-approved restrooms on each level, ensuring accessibility for all tenants and visitors. Ample surface parking is also available. The tenant lounge is set to offer a sleek, contemporary design, plush furnishings, and ambient lighting (coming soon; please see renderings in media carousel).
Elgin, Illinois, is known for its vibrant culture and arts. The city hosts a diverse array of events, festivals, and concerts, from live performances at the Hemmens Cultural Center (2 miles) to the local art galleries. Elgin's dining scene features beloved local cafes and name-brand restaurants, and its shopping districts offer an array of boutiques, national retailers, and specialty shops. Cobbler Crossing, Summit Square, and the Golf and Waverly Shopping Center are all within immediate access of One American Way for tenants' after-work convenience.
Professional and business services firms form a significant component of Chicago's office-using employment base. Recent expansions by firms such as Bain & Co., PwC, Boston Consulting Group, and Medline highlight ongoing demand among corporate users. Chicago also hosts major corporate headquarters, including United Airlines, W.W. Grainger, Baxter, AbbVie, Northern Trust, and McDonald's. Chicago's median household income is approximately $87,000, about 12% above the national average.
Investors, don't miss the opportunity to acquire the One American Way building, tap into market-rate leasing momentum, and generate strong cash flow from recent CapEx already invested into the subject.
Property tours are by appointment only. Please contact the listing broker to schedule.
This solid brick building benefits from a prime location with 165 feet of frontage on Route 58 (Summit Street), just a few miles from Interstate 90. The building features an elevator and was renovated in 2023 with luxury finishes, including imported Italian floors, modern lighting, and elegant wall treatments. The property currently consists of four separate units: two lower-level units (approximately 1,500 to 2,000 square feet each) and two upper-level units (approximately 1,720 square feet each). The condo units can be combined to meet tenants' needs, and each unit has individual utilities. Common areas include ADA-approved restrooms on each level, ensuring accessibility for all tenants and visitors. Ample surface parking is also available. The tenant lounge is set to offer a sleek, contemporary design, plush furnishings, and ambient lighting (coming soon; please see renderings in media carousel).
Elgin, Illinois, is known for its vibrant culture and arts. The city hosts a diverse array of events, festivals, and concerts, from live performances at the Hemmens Cultural Center (2 miles) to the local art galleries. Elgin's dining scene features beloved local cafes and name-brand restaurants, and its shopping districts offer an array of boutiques, national retailers, and specialty shops. Cobbler Crossing, Summit Square, and the Golf and Waverly Shopping Center are all within immediate access of One American Way for tenants' after-work convenience.
Professional and business services firms form a significant component of Chicago's office-using employment base. Recent expansions by firms such as Bain & Co., PwC, Boston Consulting Group, and Medline highlight ongoing demand among corporate users. Chicago also hosts major corporate headquarters, including United Airlines, W.W. Grainger, Baxter, AbbVie, Northern Trust, and McDonald's. Chicago's median household income is approximately $87,000, about 12% above the national average.
Investors, don't miss the opportunity to acquire the One American Way building, tap into market-rate leasing momentum, and generate strong cash flow from recent CapEx already invested into the subject.
Property tours are by appointment only. Please contact the listing broker to schedule.
Matterport 3D Tours
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Street View
Street
Map
Data Room Click Here to Access
- Purchase Agreement
Market Analytics Click Here to Access
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Property Subtype
Building Size
8,445 SF
Building Class
C
Year Built/Renovated
1988/2023
Percent Leased
25%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,223 SF
Building FAR
0.32
Lot Size
0.61 AC
Parcel Number
06-07-302-066-0000
Zoning
B, Elgin - Business
Parking
35 Spaces (4.14 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Conferencing Facility
- Signage
- Wheelchair Accessible
- Accent Lighting
- Central Heating
- DDA Compliant
- Recessed Lighting
- Drop Ceiling
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
19,462
85,560
184,797
2020 Population
19,823
85,429
183,442
2030 Population
19,471
86,087
186,189
2025-2030 Projected Population Growth
0.1%
0.6%
0.8%
Daytime Employees
2,865
26,054
90,307
Total Businesses
436
2,630
8,305
Average Household Income
$94,129
$100,954
$109,692
Median Household Income
$77,274
$82,626
$91,268
Total Consumer Spending
$193.4M
$905.2M
$2.1B
Median Age
36.5
37.6
39.3
2025 Households
6,190
28,343
63,466
Percent College Degree or Above
11%
14%
17%
Average Home Value
$258,558
$286,368
$311,541
Sale Advisor
Sale Advisor
Jorge Trujillo, Real Estate Broker
While Jorge works throughout Lake County, his areas of expertise include Libertyville, Vernon Hills, Mundelein, Gurnee, Grayslake, Waukegan, North Chicago, Park City, Beach Park, Wadsworth, Zion, Lindenhurst, Lake Villa, Antioch, Round Lake, Round Lake Beach, Round Lake Heights, Round Lake Park, Hainesville, Ingleside, Wauconda, Ivanhoe, Long Grove, Morton Grove, and Lake Forest. Jorge has an in-depth knowledge of the local real estate market and is dedicated to helping clients find their next home.
About the Auction Technology
Auctions by Ten-X are the #1 transaction technology powering commercial real estate transactions online. With over $34B in total transactions, these auctions use best-in-class technology and real-time asset intelligence to put listings in the best position to find the perfect buyer. The expedited auction timeline, comprehensive due diligence, and buyer qualification make transactions twice as fast and twice as certain for brokers, owners, and investors.
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Auction Contact
Marlo Lashley
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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Videos
Matterport 3D Exterior
Matterport 3D Tours
Photos
Street View
Street
Map
3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
Contact the Sale Advisor
Renovated Office | Lease-Up or Owner-User Opp | 1 American Way
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Renovated Office | Lease-Up or Owner-User Opp | 1 American Way
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