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Absolute Auction, Chicago Msa Land

Elgin, IL 60123

Kane County, Illinois

1.70 Acres
Land Auction
November 12, 2020 12:00 PM
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Land Description

1.7 Acres Chicago MSA - 70K VPD | $99K HH Income

Investment Highlights

High traffic counts at arterial signalized corner with ±52,574 VPD on US 20 and ±17,938 VPD on McClean Blvd

2020 population of ±166,919 individuals with an average HH income of ±$99,201 within 5-mile radius

Zoned Neighborhood Business - allows for flexible retail, service-oriented and office uses

30 miles to O'Hare International Airport and 40 miles to Chicago Cbd

Absolute $1 Auction - NO Reserve.

Offering Details

CBRE and RealINSIGHT Marketplace are pleased to present a ±1.7 AC land parcel (the “Property”) in Elgin, an active suburban community ±40 miles west of Chicago. This Property offers an exceptional investment opportunity via development and first bid meets reserve.

The Property consists of 1.7 acres at the busy signalized intersection of McLean Blvd and US 20 with combined traffic counts of 70,512 vehicles per day. All public utilities are available on the site and Elgin has relatively low impact and connection fees. Preliminary development work has been completed including a site plan consisting of a 13,000 SF building plaza and 84 parking spaces. The property is zoned NB - Neighborhood Business which allows for very flexible commercial uses including retail, service-oriented and professional office uses.

The Property is positioned in the direction of growth and adjacent to an existing Wendy's and Jiffy Lube. Just north of the Property is Elgin Community College which sits on over 100 acres and has an enrollment of approximately 10,000 students. Nearby traffic generators for the Property include Elgin Shopping Mall, residential communities, as well as an industrial area to the west.

The Property is located in Kane County, with the city of Elgin being located along the Fox River in the northern part of Illinois. Elgin is a suburb of Chicago approximately 40 miles due west with direct access to the CBD via I-90, I-290 and US Hwy 20. Elgin is an affluent, family-oriented city with a country flavor. Residents are partial to the area's newer housing away from the bustle of Chicago but close enough to commute. Known as ‘The City in the Suburbs', Elgin has a quality of life and accessibility that are unusual for a city, including cultural, entertainment, and recreation opportunities not available in other Chicago suburbs.

Scott Bowers

c/o Fisher Auction Company Inc.

License:

More Land Details

AUCTIONFLIP ID
255900
Posted on AUCTIONFLIP
23 Days Ago
Last Updated
23 Days Ago
Views
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