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 | 9.19% Cap Rate

1250 Larkin Ave
Elgin, IL 60123
Northwest Elgin


HIGHLIGHTS

  • Actual NOI is $91,000
  • 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.? Three Options Here: 1) The property can remain occupied by the current owners and another existing tenant and a buyer can collect roughly $91K in actual Net Operating Income on Day 1 for a 9.2% cap rate.? There's also a vacant suite in the lower level which could potentially bring in an additional $1350 a month plus utilities. 2) A buyer can occupy all 15,000 SF.? 3) A buyer can occupy roughly 5,000 SF and collect enough income from existing tenants to offset property taxes and operating expenses.? Owner occupies the 1st and 2nd floor, and can remain as a tenant or relocate.? There's a small tenant on the lower level and a vacant suite on the lower level. The property is roughly 15,000 SF.? The lower level, first floor, and second floor are all roughly 5,000 SF.? 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.? 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

9.19%

% 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

29,621 SF

ZONING

-

APN/PARCEL ID

05-13-301-007,05-13-301-012,06-15-402-005

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 Notice.