640 S Main St - Multi-Family FOR SALE


Algonquin, IL 60102 | 
$1,850,000 USD
630-570-2200
640 S Main St, Algonquin, IL for Sale
$1,850,000 USD
Multi-Family - FOR SALE
1/9
null | Request Cap Rate

640 S Main St
Algonquin, IL 60102


HIGHLIGHTS

  • Superior Location
  • Value-Add Potential
  • Construction & Amenities
  • Strong Demographics

OVERVIEW

Horvath & Tremblay is pleased to present the exclusive opportunity to purchase the mixed-use investment property located at 640-648 S Main Street in Algonquin, Illinois (the “Property”). The Property is improved by a three-story mixed-use building and contains a total of sixteen (16) units comprised of twelve (12), 1-Bedroom/1-Bathroom residential units and four (4) commercial units with 13,500 square feet of living area in 14,100 square feet of gross area on a 1.17-acre parcel. The Property also features an on-site laundry facility and forty-one (41) on-site parking spaces. 640–648 S Main Street occupies a highly strategic position along Illinois Route 31/Main Street within Algonquin’s established Old Town District. The property benefits from direct exposure to a primary north-south roadway while being situated within a walkable downtown environment characterized by restaurants, local retailers, professional services and access to the Fox River. The combination of existing residential neighborhoods and nearby commercial activity creates a strong setting for a mixed-use property offering both retail and apartments. The property also benefits from excellent regional accessibility. Route 31 connects directly with surrounding Fox River Valley communities and provides access to Interstate 90 approximately 5.5 miles south, while Algonquin Road/IL Route 62 and Randall Road provide additional east-west and north-south connectivity. Randall Road is the area’s premier shopping corridor, with major destinations including Algonquin Commons, Algonquin Galleria, Woods Creek Commons and Oakridge Court, creating a substantial consumer draw within a short drive. The location is further supported by Algonquin’s established educational and employment base, including Community Unit School District 300, Jacobs High School and numerous nearby schools, as well as employment centers spanning healthcare, manufacturing, professional services, transportation and retail. Nearby parks, the Fox River, Prairie Trail and downtown riverfront amenities add recreational appeal, while the broader Fox Valley provides access to hospitals, colleges, shopping and entertainment. Algonquin is an established and growing suburban community located along the Fox River in northwest suburban Chicago, approximately 40 miles northwest of Downtown Chicago and within both McHenry and Kane Counties.

FOR SALE DETAILS

PRICE

$1,850,000 USD

PRICE/SF

$131 USD /SF

# OF UNITS

16

PRICE/UNIT

$115,625

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1970

PARKING SPACES

41

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

-

APN/PARCEL ID

19-34-152-004

ASK ABOUT THIS PROPERTY

Sebastian RennellHorvath & TremblayMore Info
630-570-2200

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Sebastian RennellHorvath & TremblayMore Info
630-570-2200

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