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17436869
17436783

215 N Waukegan Rd, Lake Bluff, IL 60044 For Sale

JJ
IL 475.169297, WI 82004-94 (+1)
Coldwell Banker Commercial Lake Forest
Listed by Coldwell Banker Commercial Lake Forest
$995,000
1511 days on market
Updated 8 days ago

215 N Waukegan Road

Details
APN 12-18-324-001
Property Type Mixed Use, Multifamily (+2)
Sub Type Apartment Building, Storefront (+1)
Square Footage 4,500
Net Rentable (SqFt) 4,500
Units 4
Cap Rate 7.45%
NOI $74,088
Occupancy 75%
Tenancy Multi
Lease Type Modified
Lease Expiration 01/14/2026
Rent Bumps Yes
Lease Options 5
Pro-Forma Cap Rate 7.45%
Pro-Forma NOI $74,088
Price per SqFt $221
Broker Co-Op Yes
Class B
Year Built 1966
Year Renovated 2022
Buildings 2
Stories 2
Lot Size (SqFt) 12,500
Zoning GC
Parking Spaces 16 spaces
Parking per 1,000 SqFt 3.56
Investment Type Stabilized
Lease Commencement 01/15/2022
Occupancy Date 05/01/2024
Ground Lease No
Sale Condition For sale by owner

North Shore Mixed Use Apartment & Commercial Investment For Sale in Lake Bluff

Marketing description

BUILDING NOW UNDER NEW OWNERSHIP AND MANAGEMENT! COMPLETE REHAB OF BUILDING HAS BEEN COMPLETED INCLUDING NEW PARKING LOT, SIDEWALK, LANDSCAPING, SIGNAGE, BOTH SECOND FLOOR APARTMENTS HAVE BEEN COMPLETED REHABBED WITH UPDATED KITCHENS, BATHROOMS AND APPLIANCES PLUS EXTERIOR UPDATES. 100% OCCUPIED! First floor store front space of 1,125 sq ft has a brand new ADA restroom & HVAC in space. Vanilla box space ready for your buildout. Great for an owner occupied tenant. Buy this building and have rent free space for your business. Space also includes a full 1,125 sq ft basement which can be used for storage or extra private work area. General commercial zoning includes retail space, office, convenience store, beauty & nail salon, medical office space; the possibilities are endless! Additional parking on side and rear of building. Full unfinished basement is great space for storage or finish it to create additional space! Only one space available for lease. This Property is Broker Owned & Managed.

Investment highlights

Great for an owner occupied tenant. Buy this building and have rent free space for your business. Limited commercial space available in Lake Bluff & Lake Forest market. High end opportunity to purchase as an investment or owner occupied. Four unit building with two second floor 2-bedroom / one bath apartments. Apartments include new appliances and each unit has individual washer/dryers. Apartments in this building attend Lake Bluff Elementary and Middle Schools and Lake Forest High School. Easy to rent out with very limited rentals in Lake Bluff and Lake Forest! First floor commercial space is leased to Posh Paws of Lake Bluff.

Listing Contacts

JJ
IL 475.169297, WI 82004-94 (+1)
Coldwell Banker Commercial Lake Forest
Listed by Coldwell Banker Commercial Lake Forest

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$74,088.00
$6,174.00/mo

Valuation Metrics

0
DSCR
7.45%
Cap Rate
7.45%
ROI

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