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640-48 S Main (Route 31) Street

Algonquin, IL 60102
  • $1,220,800
  • STATUS: Active
  • ON SITE: 50 Days
  • MLS #: 11241544
UPDATED: 50 min ago
$1,220,800
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1967
County:
Area:

School Ratings & Info

Description

17 Unit Mixed Use Commercial and Apartment building. 12 Apartments & 5 Retail/office units (7 apartments and 4 store need renovations). Blocks to completely renovated downtown Algonquin. Good traffic and visibility for retail/stores. Secondary rear entrance and parking lot for apartment units--accessed of Huntington Dr. Building has all Newer windows & separate HVAC in stores. 18 electric and 6 gas meters, stores have GFA heat and central air: apartments have boiler heat and 12 wall a/c units. Nice user/investor property or value add opportunity. Current owner would like to 1031 into a farm. 4 vacant stores are available to lease at $10-12 psf gross. Owner will consider period of free rent to offset renovation costs. Pre-qualified buyers only. No owner financing. 3 grease traps, 3 triple basin sinks, 2 exhaust hoods, 5 hand sinks and 2 mop sinks belong to the building. Land size is subject to new survey.

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© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Littlefield Group | Keller Williams Realty. Based on information submitted to the MRED as of 2021-11-28T22:58:41.92 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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640-48 S Main (Route 31) Street Algonquin, IL 60102

  • Price: $1,220,800
  • Status: Active
  • On Site: 50 Days
  • Updated: 50 min ago
  • MLS #: 11241544
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1967
Built
Neighborhood:
Algonquin
County:
McHenry
Area:
Algonquin
Property Description
17 Unit Mixed Use Commercial and Apartment building. 12 Apartments & 5 Retail/office units (7 apartments and 4 store need renovations). Blocks to completely renovated downtown Algonquin. Good traffic and visibility for retail/stores. Secondary rear entrance and parking lot for apartment units--accessed of Huntington Dr. Building has all Newer windows & separate HVAC in stores. 18 electric and 6 gas meters, stores have GFA heat and central air: apartments have boiler heat and 12 wall a/c units. Nice user/investor property or value add opportunity. Current owner would like to 1031 into a farm. 4 vacant stores are available to lease at $10-12 psf gross. Owner will consider period of free rent to offset renovation costs. Pre-qualified buyers only. No owner financing. 3 grease traps, 3 triple basin sinks, 2 exhaust hoods, 5 hand sinks and 2 mop sinks belong to the building. Land size is subject to new survey.
Exterior Features

Exterior Building Type Brick Foundation Details Concrete Perimeter Frontage Type City StreetState Road Outdoor Parking 31-50 SpacesOpenPavedPrivate Lot Parking Total 47 Roof Reflective Coating Roof Structure Flat

Interior Features

Cooling Central IndividualWall Sleeve Heat Ventilation Central Bldg HeatCentral Heat/Indiv ControlsForced AirGasHot WaterRadiatorsWall Unit Number Of Dryers 2 Number Of Ranges 12 Number Of Washers 2

Property Features

Additional Parcels YN No Approximate Age Older Building Area Total 15260 Built Before1978 YN Yes Current Use Commercial Electric Separate Meters Fire Protection Fire Extinguisher/S Geographic Locale Northwest Suburban Gross Income 55800 Gross Scheduled Income 55800 Insurance Expense 6714 Location Mixed Use Area Number Of Tenants 6 Operating Expense 54674 Ownership Types Limited Liability Corp Possible Use CommercialMulti-Family Property Sub Type Mixed Use Rental Price 10 Seller Needs New Opportunity Tax Annual Amount 27577 Tax Year 2020 Tenant Pays ElectricityOtherVaries By Tenant Total Monthly Income 4650 Township Algonquin Type Mixed Use Utilities Electric To SiteGas To SiteSanitary SewerWater-Municipal Zoning Rtail

Listing information © 2021 Midwest Real Estate Data LLC.
Listing provided courtesy of Premier Commercial Realty.


© 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Littlefield Group | Keller Williams Realty. Based on information submitted to the MRED as of 2021-11-28T22:58:41.92 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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