?? HOT INVESTMENT OPPORTUNITY – GLENWOOD, IL ??
?? 106 N Main St, Glenwood, IL
zoned mix used 3 bedroom apartment on top banquet hall on the bottom
Total 6 acres
?? 20-Year Triple Net (NNN) Lease
• Rent: $23,000/month ($276,000/year)
• 2% annual increases
• $100K security deposit + personal guarantee (tenant worth $5M)
• Purchase Price: $3,200,000
• Cap Rate: 8.63%
?? Property Highlights
? 18,050+ sq. ft. building on 85,764+ sq. ft. lot
? 90+ parking spaces + overflow lot
? $2.3M renovations since 2019
? 2022 Taxes: $31,507
? 2022 Appraised Value: $3.9M (+ ~$1M in equipment)
?? Why This Deal Works:
? Long-term guaranteed income
? Above-market cap rate
? Security: $100K deposit + personal guarantee
? Built-in equity with strong appraisal spread
?
?? For details & full appraisal:
Tayser Mohammed – 312.316.8239