401-411 S Route 83 - Storefront Retail/Office FOR SALE


Grayslake, IL 60030
$1,450,000 USD
401-411 S Route 83, Grayslake, IL for Sale
$1,450,000 USD
Storefront Retail/Office - FOR SALE
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null | Request Cap Rate

401-411 S Route 83
Grayslake, IL 60030


HIGHLIGHTS

  • +/- 17,200 SF center on 1 Acre w/ 250’ of frontage on Rte. 83 in Grayslake
  • 5,200sf unit available for buyer to move into or investor to re-tenant
  • Property and location PRIMED for repositioning this asset
  • Priced way under replacement cost and well under average per sq. ft. retail building asking prices in comparable markets.
  • Several tenants (currently 70% leased) provide investor or owner occupant with immediate rental income

OVERVIEW

Hard to find a retail center with this low of a per sq. ft. price! The low acquisition cost leaves room for renovation costs to reposition the investment and capitalize on a location primed for success. Major road improvements right in front of center almost complete. More major road improvements in very close proximity are in the planning/study stages. Many national tenants blocks away. New Industrial campus being advertised just to the north. High occupancies in the immediate area. Current tenant base at under market rents. Location! Location! Location! Capitalize on this location surrounded by growth and excitement. Also, a great opportunity for a buyer to buy and move its business into the vacant 5,200 sq. ft. anchor space and collect rents from the rest of the fully leased center.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$85 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

GB

APN/PARCEL ID

06-35-200-036

ASK ABOUT THIS PROPERTY

Mike MarlingMarling Management, Inc.More Info

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Mike MarlingMarling Management, Inc.More Info

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