1250 Larkin Ave - Office FOR SALE


Elgin, IL 60123- Northwest Elgin
$990,000 USD
630-805-2463
1250 Larkin Ave, Elgin, IL for Sale
$990,000 USD
Office - FOR SALE
1/51
null | Request Cap Rate

NEW


1250 Larkin Ave
Elgin, IL 60123
Northwest Elgin


OVERVIEW

Owner/user office property with existing income. Current owner can remain as tenants or relocate. Small tenant in the lower level. The property is roughly 15,000 SF with 12,000 rentable SF, on two floors and a finished lower level. The lower level, first floor, and second floor are all roughly 5,000 SF. The RSF is roughly 3,300 on the lower level and 4,300 on the first and second floors. There is a tenant in the lower level on a month to month lease, paying $1350 a month plus utilities for a 1264 SF space. There is another, vacant suite in the lower level which could potentially bring in an additional $1350 a month plus utilities. The owner currently occupies the first and second floor, but they want to reduce their office footprint. The owner currently pays $12,000 a month as rent to occupy the first and second floors (base rent plus CAM). Estimated expenses for 2025 are $65,932. Upon sale, the owner can either remain as a tenant or relocate. If owner remains as a tenant, they would reduce their footprint in half, and pay roughly half the rent, negotiable. As tenants, owners would prefer a short term lease. For example, the owners could rent the second floor for $6,000 a month on a 1 year term. Property is an all brick construction, built in 1991 for the current owner, who has occupied it ever since. As an occupant, the owner has kept the property in excellent condition and there is no deferred maintenance. Features monument signage. Great location: 2 minutes north of US Grant Memorial Highway (54,819 average daily traffic count). 1 block from McLean Blvd (17,060 average daily traffic count). 5 minutes west from downtown Elgin. For more information contact Troy Golden at troy@goldengroupinc.com or 630-394-8164.

FOR SALE DETAILS

PRICE

$990,000 USD

PRICE/SF

$59 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1991

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

-

APN/PARCEL ID

06-15-402-005,06-15-402-008

ASK ABOUT THIS PROPERTY

Troy GoldenGolden Group Commercial Real EstateMore Info
630-805-2463

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Troy GoldenGolden Group Commercial Real EstateMore Info
630-805-2463

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