Elgin, IL
Commercial Real Estate Market Trends & Data

$193 per SF Avg asking sale price
$16 per SF Avg asking lease rate
20,001 SF Avg unit lease size
36,956 SF Avg building size for sale
8.00% Average cap rate

Elgin's Demographic Profile

Elgin has 38,821 households and a median income of $86,005, providing context for rent absorption and tenant demand across retail and multifamily assets. A -1% five-year population trend is a key signal for evaluating long-term demand in this market.

Key Demographic Metric Value
Population 114,676
# Households 38,821
Median age 38
Median household income $86,005
Avg household size 3.0
Renter-occupied housing units 12,339
5-year population change -1%

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↻ Updated Monthly

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Nearby Office Markets Avg Cost/SF Typical Size Cap Max
Elgin $198 15,017 SF 10.00%
South Elgin $296 17,589 SF 10.00%
Nearby Retail Markets Avg Cost/SF Typical Size
Elgin $187 14,592 SF
South Elgin $216 2,763 SF
West Dundee $238 11,710 SF
Dundee $238 11,710 SF
East Dundee $238 3,801 SF

Commercial Properties For Sale in Elgin

The listings below reflect how current market pricing and building scale translate into active opportunities available today.
For Sale

UNIT 2418

Elgin, IL 60124

  • 43,800 SF Industrial Building
  • $450,000
For Sale

1120 W. Spring Street

South Elgin, IL 60177

  • 2.76 AC Lot
  • 1 Commercial Lot
  • $650,000
For Sale

303 Elgin Ave

Elgin, IL 60120

  • 15,585 SF Industrial Building
  • $1,375,000
For Sale

1670 Capital St

Elgin, IL 60124

  • 19,046 SF Office Building
  • $595,500
For Sale

2401 Weld Rd

Elgin, IL 60124

  • 3.60 AC Lot
  • 1 Commercial Lot
  • $1,100,000
For Sale

640 Varsity Dr

Elgin, IL 60120

  • 12,120 SF Industrial Building
  • $2,600,000

Average Price For Sale

↻ Updated Monthly

Average Size For Lease

↻ Updated Monthly

Number of Listings

↻ Updated Monthly

Cap Rate

↻ Updated Monthly

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Nearby Commercial Markets

Comparing nearby markets helps investors see whether Elgin pricing and building scale sit above, below, or in line with surrounding areas.

Commercial Markets Avg Cost/SF Average Size
Elgin $193 36,956 SF
South Elgin $183 18,017 SF
Sleepy Hollow $373 7,460 SF
West Dundee $404 46,255 SF
Dundee $306 45,209 SF

Regional Demographic Comparison

This comparison places Elgin alongside nearby cities to show how population size, household counts, and income levels differ across the region. Viewing these markets side by side helps investors understand whether local demand and income characteristics are concentrated in Elgin or distributed across surrounding areas.

City Population # Households Age Median Household Income Avg Household Size Renter Occupied Housing Units Five Yr Pop Growth %
Elgin 114,676 38,821 38 $86,005 3 12,339 -1%
South Elgin 25,304 8,580 39 $114,292 3 1,601 1%

Disclaimer: The figures on this page reflect LoopNet's active commercial listings in Elgin, IL and update as inventory changes. Averages can shift between periods or vary across property types depending on the mix of listings available at a given time, so individual metrics may not reflect broader market trends. These figures are best used as directional benchmarks for early market evaluation. For comprehensive commercial real estate data and analytics, subscribe to CoStar.

FAQs About Commercial Investing in Elgin

View All Commercial Real Estate For Sale in Elgin
Is Elgin a good market for a first-time commercial real estate investor?

Elgin offers commercial properties across a wide range of sizes and price points. By reviewing the market data and benchmarks on this page, first-time investors can better understand what a typical commercial property looks like before committing capital and narrowing in on specific listings.

How can this market data help me decide whether to buy commercial property for my business in Elgin?

The pricing and size metrics on this page help business owners compare the cost of ownership against leasing in Elgin. Typical building sizes and asking prices provide a starting point for evaluating space needs, budget fit, and long term occupancy costs before engaging lenders or brokers.

What should conservative investors focus on when evaluating commercial properties in Elgin?

Conservative investors often prioritize manageable deal sizes, stable pricing ranges, and cap rate benchmarks shown for Elgin. These metrics help assess whether current market conditions support steady income potential without relying on aggressive assumptions.

How does Elgin compare to nearby commercial real estate markets?

Nearby market comparisons highlight differences in pricing, building scale, and cap rate ranges relative to Elgin. Reviewing these side by side helps experienced investors identify relative value, pricing premiums, or alternative markets that may better align with return targets.

How can this page support early-stage deal screening for Elgin acquisitions?

This page provides high-level benchmarks for pricing, deal size, and observed cap rates in Elgin, which are useful for initial market filtering. Institutional and data-driven investors often use these signals to prioritize listings that meet size, pricing, and return thresholds before deeper underwriting.

Nearby Market Trends