106 N Main St - Restaurant FOR SALE


Glenwood, IL 60425
$3,200,000 USD
312-316-8239
106 N Main St, Glenwood, IL for Sale
$3,200,000 USD
Restaurant - FOR SALE
1/1
null | 8.63% Cap Rate

106 N Main St
Glenwood, IL 60425


OVERVIEW

?? 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

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$240 USD /SF

CAP RATE

8.63%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

1.68 AC

LAND SF

73,126 SF

ZONING

B-1

APN/PARCEL ID

32-04-400-004-0000,32-04-400-013-0000,32-04-401-008-0000

ASK ABOUT THIS PROPERTY

Tayser MohammedTayser Mohammed Commercial Real EstateMore Info
312-316-8239

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Tayser MohammedTayser Mohammed Commercial Real EstateMore Info
312-316-8239

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.