$4,850,000
$5,450,000
11.0%For more information regarding the value of a property, please contact us for a free consultation.
72,000 SqFt
SOLD DATE : 03/06/2024
Key Details
Sold Price $4,850,000
Property Type Commercial
Sub Type Industrial
Listing Status Sold
Purchase Type For Sale
Square Footage 72,000 sqft
Price per Sqft $67
MLS Listing ID 11877260
Sold Date 03/06/24
Year Built 1990
Annual Tax Amount $69,216
Tax Year 2022
Lot Size 3.500 Acres
Lot Dimensions 270 X 565
Property Description
High exposure, multi tenant building with retail and light industrial units on LaGrange Rd. Building consists of 6 retail units and 16 industrial units providing a very diversified tenant portfolio. This 72,000 sq ft building has 14 ft high ceilings, 17 drive in doors, 6 loading dock doors and parking for more than 100 cars. Low Will County taxes provides a wonderful opportunity to attract tenants and add profit. Current cap rate of 7.5% with below market rates provides an excellent opportunity for new owner to renew leases and/or re-tenant the building with market rates providing a 10-11% cap rate. High occupancy rates and low availability for industrial spaces along the Southwest I-80 corridor makes this building an ideal investment. Signed NDA needed to see building financials.
Location
State IL
County Will
Zoning INDUS
Interior
Cooling Central Air
Flooring Concrete
Fireplace N
Exterior
View Y/N true
Building
Foundation Concrete Perimeter
Structure Type Brick,Block
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