Roger Koeppen - Intelligence
Listed by Roger Koeppen - Intelligence
$2,575,000
1002 W North St
Details
Property Type Industrial
Sub Type Distribution, Manufacturing
Square Footage 52,000
Acreage 5.200
Zoning M1/cannabis grow
Ground Lease No
Industrial | 52,000 SqFt
Marketing description
Craft grow facility for sale or lease fully entitled craft grow facility with license & state approved architectrual plans 52k ft² on 5.2 acers with expansion potential
Pontiac area: The community strongly supports the project for its jobs and tax revenue. All permits are secured, allowing immediate operations. Pontiac/Livingston county offers much lower real Estate taxes and labor costs than chicagoland. The university of Illinois and Illinois state university are located 40 and 30 minutes away. Discussions have taken place to integrate their agriculture programs and provide access to student labor at little or no cost.
Investment highlights
- Proposed buildout: The project is designed to be completed in a two-phase approach, enabling the tenant to commence production more swiftly and generate revenue from processing distillate and/or third-party flower. Plans for the phased approach are included.
- Construction Timeline: Approximately 226 days from commencement. Demolition has been finalized.
- Dec. 24’ budget: Results of a comprehensive bidding process established a budget of $6,056,000 for phase one, which encompasses all necessary equipment for the operation of the phase one plan. Connections to be made with the general contractor and all subcontractors involved in the development of this plan/budget.
- Electricity: The building is directly linked to a ComEd substation located on the property. Currently, there are 2500 amps available with existing switchgear to support phase one, and additional power can be sourced from ComEd for phase two, which includes the complete 14,000 square feet of flower.
- Purchase: Currently considering offers for the building and the Illinois craft grow license, starting at $2,575,000. The license can be Purchased separately for $265,000.
- Lease: Open to evaluating a long-term lease arrangement that includes free rent during the construction phase. Buyer would be responsible for insurance, maintenance, and real estate taxes.
- Clear height: 23'
- Columns: 25'w x 50'd
- Sprinklers
- Zoned M1/cannabis grow
- Low re taxes
Listing Contacts
Roger Koeppen - Intelligence
Listed by Roger Koeppen - Intelligence
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