7.11 Acre Chicago MSA Development Site | 150 Residential Units & 17,000 SF Retail Previously Approved | 18K VPD

Highlights:

• ±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 Bell, and Fifth Third Bank.
• Main east-side Elgin commercial corridor location with full ingress/egress from Summit Street and Waverly Drive with traffic counts exceeding 18,000 vehicles per day.
• Public utilities available including sanitary sewer, storm sewer, and gas, offering a head start for future development planning.
• Strong infill demand with low apartment vacancy rate representing an extremely tight rental market (1.8% as of February 2026).
• Attractive demographics with 181,580 residents within 5 miles, $111,408 average household income, and 166,917 daytime population.
• PAB – Planned Area Business zoning supports a planned commercial / mixed-use development concept with flexibility for deviations from standard Area Business zoning.

Description:

Marcus & Millichap presents Bella Casa Development, a rare opportunity to acquire a ±7.11-acre development site along Summit Street in Elgin, Illinois (the “Property”). The Property consists of four parcels and is zoned PAB – Planned Area Business, a zoning designation intended to support planned commercial development serving neighborhood, community, and regional demand. Prior plans contemplated approximately 150 residential units, ±17,000 square feet of retail space, and 312 parking spaces, creating a compelling path for a buyer to revisit a mixed-use development strategy, subject to updated approvals and buyer due diligence.

Positioned along Summit Street, one of Elgin’s key commercial corridors, the site benefits from strong frontage, full ingress/egress, available utilities, and proximity to established retail, restaurant, medical, service, and daily-needs users. The surrounding trade area provides meaningful residential density and income demographics, with approximately 181,580 residents and $111,408 average household income within 5 miles. Located approximately 35 miles northwest of Chicago with access to I-90 and the broader Fox Valley employment base, the Property is well suited for a developer seeking an infill mixed-use, multifamily, retail, or service-commercial redevelopment opportunity in the Chicago MSA.


For more information:
https://rimarketplace.com/auction/3343/land/elgin/il?utm_source=brevitas&utm_medium=listing_paid&utm_campaign=september24_2026&utm_content=land_3343

Bidding Opens
Sep 23, 2026 12:00 AM
Bidding Ends
Sep 25, 2026 12:00 AM