518 W Main St - Freestanding FOR SALE


Kirkland, IL 60146
$268,000 USD
815-978-6489
518 W Main St, Kirkland, IL for Sale
$268,000 USD
Freestanding - FOR SALE
1/27
null | 9.22% Cap Rate

Oct '26


518 W Main St
Kirkland, IL 60146


OVERVIEW

Fully renovated mixed-use commercial property in the heart of downtown Kirkland, Illinois, offering a rare combination of multiple income streams, flexible commercial space, and value-add outdoor potential. The ground floor features two separate commercial units, connected by a common door for flexibility while maintaining separate utilities for independent operation. The rear unit is currently operating as a laundromat, providing a stable, necessity-based business that supports consistent traffic and long-term reliability. The front unit offers prime street-facing exposure and is well suited for retail, office, café, restaurant, bar, gaming, salon, or professional services, subject to local approvals. Above, the property includes two fully occupied residential apartments, delivering immediate and consistent rental income. The property is currently generating approximately $3,300 per month in income, with substantial upside. The front commercial unit presents an estimated rental opportunity of $1,000 per month, bringing the projected total income to approximately $4,300 per month. In addition, the property includes two fenced-in lots, creating a unique opportunity to expand or enhance the commercial use of the front unit. These outdoor spaces could complement a variety of business concepts, including a beer garden, daycare outdoor area, event or party rental venue, patio expansion, or additional service-based uses, subject to local approvals. The property also benefits from on-site parking accessible via the rear alley, along with full handicap accessibility, providing convenience for customers and tenants while supporting a wide range of commercial uses. Located in a community of approximately 2,000 residents, this property benefits from a central downtown position with steady daily traffic and strong visibility. With renovations complete, diversified income streams, and additional land for future use, this is a turnkey investment with both immediate cash flow and long-term upside potential.

FOR SALE DETAILS

PRICE

$268,000 USD

PRICE/SF

$89 USD /SF

CAP RATE

9.22%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Bar, Storefront, Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1900

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,150 SF

ZONING

B-1

APN/PARCEL ID

01-26-209-007,01-26-209-008,01-26-209-023

ASK ABOUT THIS PROPERTY

Jayson ShullGambino Realtors Inc.More Info
815-978-6489

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Jayson ShullGambino Realtors Inc.More Info
815-978-6489

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