1 AMERICAN Way Elgin, IL $ 898,000
1 AMERICAN Way
$ 898,000
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1 AMERICAN Way

Elgin, IL, 60120
$ 898,000
Bedrooms-- Baths-- Sq 8,728
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View a Virtual Tour
Property for Rent in Elgin, IL for $898,000. This 8,728 square foot property was built in 1988 on a lot size of 0.59.

Prime Freestanding Office/Medical/Flex Building - Modernized Luxury on Route 58 1 American Way, Elgin, IL 60120 8,728 SF | Office | Medical | Finance | Flex | Owner-User or Investment Opportunity Strategically positioned with 165 feet of frontage on high-traffic Route 58 (Summit Street), this impressive solid-brick commercial building offers exceptional visibility and accessibility. Originally built in 1988 and fully renovated in 2023, the property exudes modern elegance with high-end finishes throughout - including imported Italian flooring, designer lighting, and custom wall treatments. The two-story building comprises approximately 8,728 square feet, currently configured into four individual suites: Two upper-level suites: 1,720 SF each Two lower-level suites: 2,000 SF each Each unit features separately metered utilities, providing flexibility for single or multiple tenant configurations. Interior common areas are equipped with ADA-compliant restrooms on both floors and are accessible by a passenger elevator, ensuring convenience for all users. Highlights: Fully renovated in 2023 with luxury-grade finishes Elevator access to all levels Flexible floor plans - suites may be combined Individually metered units Ample on-site parking for staff and guests Ideal for medical, financial, professional office, or owner-user setups Excellent signage and visibility on Route 58 For full property details, photos, and virtual tour, visit: oneamericanway*com

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Rental Active

Price

$ 898,000

Taxes

$ 56,349

Style

Medical/Dental

Lot Size

0.59

Year Built

1988

Town/City

Elgin

County/Region

COOK

MLS | Web ID

12097479

Features
General
Cooling Central Air
Possession Closing
Roof Composition
Zoning COMMR
Construction Materials Brick
Year Built 1988
Electric Circuit Breakers
Tenant Pays Common Area Maintenance Electricity Heat Taxes
Stories Count 2
Township Hanover
Tax Year 2023
Current Use Medical/Dental
Gross Income 168000
County Cook
Net Operating Income 106561
Operating Expense 5520
Property Type Commercial Sale Office/Tech
Possible Use Commercial Office Retail Single Room Occupancy
Status Active
Directions SUMMIT (RT. 58) EAST OF RT. 25
City Elgin
Number Of Units Total 4
MLS Area Elgin
Lot Size Square Feet 26120
Tax Annual Amount 56349
Additional Parcels Y/N N
Leasable Area 8700
Virtual Tour https://my.matterport.com/show/?m=256ibbvTMtg
Lease Type Modified Gross
Standard Status Active
Cap Rate 10.6
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Interior
Flooring Marble
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Exterior
Building Area Total 8728
Lot Dimensions 161 X 164
Lot Size Acres 0.59
Frontage Type City Street
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* Excluded Features
List By
Re/Max American Dream

Broker

luigui@teamluigui.com; luigui@luigui.com

Email

Nearby
565567 Elementary School
567955 Middle School
Unknown High School High School
Pricing History
DatePricePrice ChangeDescription
1/2/2026$898,000 -9.93% Price Down
6/2/2025$997,000 Listed Price

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1 AMERICAN Way, Elgin, IL, 60120 is a Property for Rent at $898,000 with 8,728 sqft and a lot size of 0.59. 1 AMERICAN Way was built in 1988. The property's zip code is 60120 which is in Elgin, IL