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Key Details
Sold Price $450,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 5,120 sqft
Price per Sqft $87
MLS Listing ID 12071909
Sold Date 08/13/24
Year Built 1993
Annual Tax Amount $7,551
Tax Year 2022
Lot Dimensions 115X298X164X299
Property Description
Located just a few miles from Lake Holiday! 100% Occupied! Unique Mixed-Use Property with additional income potential in Somonauk, IL. Discover an exceptional opportunity to own this two-story building as a versatile investment that includes three apartments, three office storefronts, and eight garage storage units. The apartments, each featuring 1 bedroom, 1 bathroom, laundry facilities, and an open-concept living room and kitchen, are designed for comfortable living. They offer both a main entrance with stairs or chair lift access and individual entrances from the upper deck. Notably, all apartments and offices are equipped with a 2-hour fire rating, ensuring safety and security. The retail/office spaces come with dedicated bathrooms and have been tailored to the unique needs of their current occupants, making this property suitable for various business ventures. Ample parking space for up to 26 cars is provided in the expansive concrete parking lot. All apartments, offices, and garages are fully occupied, having maintained a continuous rental history. Current rental rates are below the market average, offering a compelling opportunity for increased income and return on investment. Enjoy this low maintenance investment w newer improvements included-new roof, siding, deck (2023) and 3 newer patio sliding doors, 3 furnaces, 4 hot water heaters replaced in approx (2021). This is an excellent addition to your investment portfolio, offering both immediate rental income and potential for future growth.
Location
State IL
County Lasalle
Zoning COMMR
Interior
Cooling Central Air
Flooring Carpet, Concrete, Vinyl
Fireplace N
Exterior
Utilities Available Electric to Site, Gas to Site, Septic-Private, Well Private
View Y/N true
Roof Type Composition
Building
Foundation Concrete Perimeter
Structure Type Wood Frame
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