1530 N Randall Rd, Elgin, IL
Office | 19,034 SqFt
Marketing description
Wisdom Capital Group is pleased to present the exclusive offering of 1530 North Randall Road — a well-maintained, two-story Class B masonry medical office building strategically positioned along one of the Chicago metropolitan area's most active commercial corridors in Elgin, Illinois.
Constructed in 1999 and known as Randall View Center, the property totals approximately 19,034 rentable square feet and sits on a 3.76-acre parcel, offering a generous parking ratio of 7.57 spaces per 1,000 SF across 144 surface stalls. The building features modern mechanical systems, elevator service, full ADA compliance, and above-standard interior finishes purpose-built for healthcare tenancy — including exam rooms, private offices, reception areas, and patient waiting spaces.
The property is currently 75% occupied by a stable roster of six medical and professional tenants, generating approximately $261,000 in gross rental income annually at an average rent of $21.48/SF. Tenants include Midwest Dental, Associates in Pediatrics, The Heart Team, Chestnut Health of IL, a Hearing Center, and Dr. Jodi Fourt — reflecting a diverse mix of healthcare users with varying lease terms extending through 2031.
Situated directly across from Advocate Sherman Hospital and just 0.6 miles from the I-90 interchange, the property benefits from exceptional visibility, strong daily traffic counts, and proximity to one of the region's most established healthcare ecosystems. The offering also includes a nearly one-acre vacant front parcel along Randall Road, presenting a rare value-add development opportunity for pad construction, additional medical space, or complementary retail/ancillary uses. For investors seeking a well-located suburban medical office asset with stable in-place income, a growing tenant base, and meaningful upside through lease-up and future development, 1530 North Randall Road represents a compelling acquisition opportunity.
Investment highlights
- Institutional-Quality Medical Construction: Built in 1999, the two-story masonry building features durable construction, modern mechanical systems, elevator service, and full ADA accessibility — purpose-built for healthcare tenancy with exam rooms, private offices, reception areas, and patient waiting spaces.
- Diverse, Stable Medical Tenant Base: The property is 75% occupied by six healthcare and professional tenants, generating $261K in annual gross income at an average rent of $21.48/SF, with lease terms extending through 2031.
- Premier Healthcare Corridor Location: Positioned directly across from Advocate Sherman Hospital — a major regional provider — and surrounded by a dense network of outpatient facilities and medical specialists, reinforcing long-term tenant demand and site identity as a medical destination.
- High-Visibility Frontage on Randall Road: Located along one of the Chicago metro's most active commercial corridors, with approximately 42,000 vehicles per day providing consistent consumer and patient traffic exposure.
- Immediate I-90 Access: Situated just 0.6 miles from the Jane Addams Memorial Tollway interchange, offering seamless regional connectivity to Chicago and the broader northwest suburban market.
- Value-Add Development Opportunity: A nearly one-acre vacant parcel at the front of the property along Randall Road presents a rare opportunity for pad development, expanded medical space, or complementary ancillary uses — adding significant long-term upside to the acquisition.
- Strong Submarket Demographics: The surrounding 3-mile trade area supports a population of over 45,000 with a median household income of $110,443, underpinning both medical and service-oriented tenant demand.
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