Major Price Reduction | Bella Casa Mix-Use Development
Major Price Reduction | New Mix-Use Development Opportunity | Favorable Zoning
Marketing 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
- $6.13 Per Sqaure Foot
- Favorable Zoning (PAB)
- 7.11 Acres
- Full Ingress and Egress off Summit Street
- $267,229 Per Acres
- Situated on the Main Retail Corridor
- Boasting Over 17,000 Vehicles Per Day
- Low Apartment Vacancy (1.8%) Rate in Elgin, IL
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
