Business for Sale in Elgin, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Elgin, IL 60120

Description

The City of Elgin previously approved approximately 150± residential units, approximately 17,000 square feet of retail space, and 312 parking spaces. The original plan called for five buildings—two along Summit Street (each with a retail component) and three interior buildings. The zoning is PAB (Planned Area Business), a specialized district in Elgin, IL, for commercial developments of at least two acres. It allows deviations from standard AB (Area Business) zoning regulations, such as parking, landscaping, or building height requirements. These districts are often used for planned shopping centers. As of February 2026, the apartment vacancy rate in Elgin, Illinois, is approximately 1.8%, representing an extremely tight rental market (Apartments.com). Investment Highlights: • Favorable Zoning (PAB) • Full Ingress and Egress off Summit Street • Situated on the Main Retail Corridor • Boasting Over 17,000 Vehicles Per Day • Low Apartment Vacancy (1.8%) Rate in Elgin, IL

Market Context

This mixed use in Elgin, IL is listed for sale. It has been on the market for 68 days. Compare it against other mixed use listings for sale in Elgin, IL — <a href="/search/sale/mixed-use/illinois/elgin">view the full market</a>.

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