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Land For Sale • 7.11 AC
The City of Elgin previously approved approximately 150± residential units, approximately 17,000 square feet of retail space, 312 parking spaces, and four seperate pin#'s for a total of 7.11 acres. 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).
| STARTING BID $200,000 | 7.11 Acre Development Site | 150 Residential Units & 17,000 SF Retail Previously Approved | 18K VPD | AUCTION SEPTEMBER 22-24 |
| ±7.11-acre development site in Elgin, Illinois, approximately 35 miles northwest of Chicago. |
| Previously approved mixed-use development plan for approximately 150 residential units, ±17,000 SF of retail space, and 312 parking spaces. |
| Surrounded by established retail including Jewel-Osco, Aldi, Walgreens, O’Reilly Auto Parts, Dunkin’, 7-Eleven, Chase, Anytime Fitness, Subway, Taco B |
| Main east-side Elgin commercial corridor location with full ingress/egress from Summit Street and Waverly Drive with traffic counts exceeding 18,000 v |
| Public utilities available including sanitary sewer, storm sewer, and gas, offering a head start for future development planning. |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Elgin (Milwaukee West - Metra) | 5 min | - | 2.2 mi |
| National St (Milwaukee West - Metra) | 7 min | - | 2.7 mi |
| Airport | Drive | Walk | Distance |
| Chicago O'Hare International | 34 min | - | 25.4 mi |
Brian Parmacek
Marcus & Millichap
Brian Parmacek
Marcus & Millichap
