Listed by Millennium Properties R/E
$1,250,000
164 Division St., Elgin, IL
Details
Property Type Office
Sub Type Traditional Office
Square Footage 51,230
NOI $79,197
Occupancy 82.9%
Tenancy Multi
Pro-Forma NOI $110,848
Stories 8
Lot Size (SqFt) 8,712
Zoning CC1, Central Area TIF
Investment Type Stabilized
Office | 51,230 SqFt
Marketing description
A historic 51,230 square foot multi-tenant office building in Elgin is available for sale. The eight story building is divided into offices suites ranging from 150 SF to 4,500 SF. The building is located in the heart of Elgin's historic downtown; the landmark building features a gothic facade and grand main lobby. The office is leased to a mix of law firms, doctors, design firms and more. This building is a great opportunity for a user or investor to add value.
The eighth-largest city in Illinois, Elgin is located approximately 35 miles northwest of Chicago. The city is a mix of urban and suburban living, with its revitalizing downtown and new developments and historic architecture.
Investment highlights
- 51,230 SF multi-tenant office
- Eight story historic building
- Suites range from 150 to 4,500 SF
- Located in historic downtown Elgin
- Historic landmark building known as the Elgin Professional Building
- Potential to add value thru leasing
- Current Occupancy: 82.9%
- Estimated 2017 NOI: $79,197
- Pro Forma 2018 NOI: $110,848
- Tenants are a mix of law firms, doctors, design firms & architects
- Land Area: 8,712 SF
- Taxes (2016): $24,172
Listing Contacts
Listed by Millennium Properties R/E
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$79,197.00
$6,599.75/mo
Valuation Metrics
0
DSCR
6.34%
Cap Rate
6.34%
ROI
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