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

1250 Larkin Ave
Elgin, IL 60123
Northwest Elgin


HIGHLIGHTS

  • Existing Income Offsets Property Taxes and Op Ex
  • Excellent Condition
  • 2 Minutes North of US Grant Memorial Highway
  • 5 minutes from downtown Elgin
  • Over 200,000 daytime employees located within 10 miles of the property
  • Asking price significantly lower than construction/replacement cost

OVERVIEW

Owner/user office property with existing income. A buyer can occupy roughly 5,000 SF and collect enough income to offset property taxes and operating expenses. Or a buyer can occupy all 15,000 SF. Owner can remain as a tenant or relocate. There's also another small tenant on the lower level. The property is roughly 15,000 SF with 12,000 rentable SF, on two floors and a finished lower level (see table). The lower level, first floor, and second floor are all roughly 5,000 SF each. The RSF is roughly 3,300 on the lower level and is roughly 4,300 on both the first and second floors. 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. Features monument signage. There is a vacant suite in the lower level which could potentially bring in an additional $1350 a month plus utilities. 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. Over 200,000 daytime employees located within 10 miles of the property. Local office vacancy rate is 12.2%. Asking price is significantly less than construction/replacement cost. For more information contact Troy Golden at troy@goldengroupinc.com or 630-394-8164.

FOR SALE DETAILS

PRICE

$990,000 USD

PRICE/SF

$66 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

0.68 AC

LAND SF

29,543 SF

ZONING

-

APN/PARCEL ID

06-15-402-005

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.