385 Airport Road

For SaleSubject To Offer

385 Airport Road, Elgin, IL 60123

  • Office

385 Airport Road, Elgin, IL 60123 - Office Space

385 Airport Road is located at 385 Airport Road in the Willow Lakes Estates neighborhood, IL, Elgin, 60123. The Office building features a total of 31,320 Sqft.

There are 6 office spaces for lease in the Willow Lakes Estates neighborhood, totaling 25,014 Sqft of available office space. The office space availability for the 60123 zip code is 557,498 Sqft, in 72 office spaces. The average asking office rent per sq. ft. in Willow Lakes Estates is $15.5/sqft/year. For Class C office buildings the average office rate is $15.5/sqft/year.

In Willow Lakes Estates, there is 1 class C office building. At zip code level, there are 86 commercial properties, of which 14 are office buildings over 50,000 square feet.

Nearby Listings

Nearby Properties

Details

  • Sale Price Subject To Offer
  • City Elgin
  • Neighborhood Willow Lakes Estates
  • Zip Code 60123
  • Market Brooklyn
  • Property Type Office
  • Property Size 31,320 Sqft
  • Property Tenancy Multi-Tenant
  • Date Updated 01 Apr, 2019

Description

The Podolsky Circle Middle Market Investment Advisory Team is pleased to present 385 Airport Road, Elgin, Illinois. The Property consists of a single-story, multi-tenant office building totaling 31,320 square feet fronting on I-90 in Elgin, Illinois. At 28% leased, 385 Airport Road offers investors the opportunity to purchase an asset well below replacement cost, collect cash flow from existing tenants, and create value through future leasing. Alternatively, the property could be redeveloped due to its prominent location, visibility and access off the four-way interchange at the northeast corner of Route 31 and I-90. Located at the full interchange at I-90 (Jane Addams Memorial Tollway) and Route 31, 385 Airport Road provides tenants with ease of access. The Elgin area has a dense population and a strong back office workforce that benefits tenants and attracts employers to the area. The Property is located in the 155-acre Fox River Business Center just minutes north of the downtown business district and the Grand Victoria Casino. Fox Business Center is a mixed use business park with office, retail, hotel, self-storage and industrial uses. Judson University, Providence Baptist College and J Renee College are within a 5-minute drive and the Property could provide an excellent option should they expand.

FREQUENTLY ASKED QUESTIONS

What is the lease rate for 385 Airport Road?

Rental asking rate at 385 Airport Road is Subject To Offer per square foot.

What is the total square footage of 385 Airport Road?

385 Airport Road totals 31,320 square feet.

Willow Lakes Estates Demographics

The average household income in zip code 60123 is $80,081, from a total of 16,665 households. In terms of employment, there are 70.71 % white-collar and 29.29 % blue-collar jobs in zip code 60123.

Population

  • Total Population48,952
  • Male Population(50.5 %) 24,727
  • Female Population(49.5 %) 24,225
  • Median Age35.60

Income/Financial

  • Average Household Income$80,081
  • Median Household Income$61,680
  • Median Income Under 25$63,520
  • Median Income 25-44$58,036
  • Median Income 45-64$78,184
  • Median Income Over 65$40,082

Attachments

Commercial Brokers Register now to add listings

John Homsher

Podolsky Circle CORFAC International

Principal

(847) 444-5715

Alissa Adler

Podolsky Circle CORFAC International

Managing Principal/Managing Broker

(847) 444-5770

Paul Tesdal

Podolsky Circle CORFAC International

Senior Vice President

(847) 444-5757