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$898,000
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Property Description
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
Full Property Details
Full Property Details for 1 American Way
General
- Price: $898,000
- Taxes: $56,349 (2023)
- Status: Active
- Type: Commercial
- Source: MRED
- MLS ID: 12097479
- Updated: 1/8/2026
- Added to Site: 229 day(s) ago
Interior
- Flooring: Marble
Additional Information
- Security/Safety: Smoke or Fire Protectors
Location
- Area: Elgin
- County: Cook
- Township: Hanover
- Driving Directions: SUMMIT (RT. 58) EAST OF RT. 25
- Location Details: Northwest Suburban
Heating & Cooling
- Cooling Type: Central Air Conditioning
- Heating Type: Forced Air, Gas
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Roof: Composition
- Sub-Flooring: Marble
- Stories/Levels: 2
- Square Feet: 8,728
- Current Bldg. Use: Medical/Dental
- Year Built: 1988
Unit Information
- # Tenants: 1
Lot Features
- Lot Size (Acres): 0.59
- Lot Size (Sq. Ft.): 26,120
- Lot Dimensions: 161 x 164
- Frontage: City Street
- Potential Use: Commercial, Office, Retail, Single Room Occupancy
- Zoning: COMMR
Financial Considerations
- Lease Price: $14
- For Sale/Rent/Lease: For Sale or Rent
- Operating Expenses: $5,520
- Security Deposit: Smoke or Fire Protectors
- Assessment Year: 1988
- Tax Amount: $56,349
- Tax Year: 2023
- Tenant Pays: Common Area Maintenance, Electricity, Heat, Taxes
Disclosures and Reports
- Property ID: 6073020660000
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Schools
Schools serving 1 American Way
School District:School District U-46
| Name | Grades | Distance |
|---|---|---|
Lords Park Elementary School 323 Waverly Drive, Elgin, IL 60120 | K-6 | 0.3 mi |
Ellis Middle School 225 South Liberty Street, Elgin, IL 60120 | 7-8 | 1.1 mi |
Elgin High School 1200 Maroon Drive, Elgin, IL 60120 | 9-12 | 1.5 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 1 American Way
Date
Details
Price
Change
Source
1/02/2026
Price Reduced
$898,000
-9.93%
MLS
6/02/2025
Listed
$997,000
47.05%
MLS
9/20/2021
Sold
$678,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 1 American Way
Year
Property Taxes
Change
Tax Assessment
Change
2023
$56,349
1572%
$195,762
1525%
2022
$3,370
-25%
$12,048
-7%
2021
$4,480
1%
$13,000
—
2020
$4,451
—
$13,000
-10%
2019
$4,446
23%
$14,505
37%
2018
$3,608
—
$10,619
—
2017
$3,597
6%
$10,619
—
2016
$3,384
-2%
$10,619
8%
2015
$3,464
3%
$9,860
—
2014
$3,355
3%
$9,860
—
2013
$3,245
67%
$9,860
52%
2012
$1,940
—
$6,473
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 1 American Way
1 American Way, Elgin, IL 60120 (MLS# 12097479) is a Commercial property. 1 American Way is currently listed for $898,000 and was received on June 02, 2025. Want to learn more about 1 American Way? Do you have questions about finding other Commercial real estate for sale in Elgin? You can browse all Elgin real estate or contact a Coldwell Banker agent to request more information.

