Elgin's Commercial Property-40 Million Square Feet
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The Elgin Development Group follows what’s happening with 11 types of commercial property that includes office, retail, housing, flex space, industrial, health care, hospitality, and the overall real estate market in the City of Elgin. This data shows change over time and gives us information about shifts occurring within different market segments. We can identify businesses that are expanding, investing, moving into Elgin, and creating jobs and use that information to thank businesses for their investment. The numbers in the charts below are provided by CoStar, a leading real estate database:
Elgin Commercial Property Statistics 
Elgin Commercial Property Ownership
The Overall vacancy rate for 11 distinct types of commercial real estate property segments in Elgin decreased from of 6.8% is below the all-time average rate of 8.53%. The Market Asking Price and Market Sale Price shown in the first chart are at all-time historic prices. Market Asking Rents are projected to climb for the next 5 years, and overall vacancy rates are expected to fall and flatten at 6.0% for the next 5 years. Demand for all 11 distinct types of commercial property in Elgin is projected to outweigh supply over the next 5 years
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