$1,050,000
$1,300,000
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35,992 SqFt
SOLD DATE : 01/14/2022
Key Details
Sold Price $1,050,000
Property Type Commercial
Sub Type Mixed Use
Listing Status Sold
Purchase Type For Sale
Square Footage 35,992 sqft
Price per Sqft $29
MLS Listing ID 11146605
Sold Date 01/14/22
Year Built 1970
Annual Tax Amount $28,951
Tax Year 2020
Lot Dimensions 243.4 X 101.3 X 221.8 X 100.5
Property Sub-Type Mixed Use
Property Description
Overall building size is 35,992. First floor contains two industrial type units with warehouse space and loading docks. Smaller unit is 8,224 square feet and larger unit (occupied) being 18,067. The second floor is accessible via two stairways and a passenger elevator. The second floor contains seven residential apartments, 5-1 bedroom, 1 bath units; 1-2 bedroom, 2 bathroom units and 1-3 bedroom, 2.5 bathroom unit. The apartments are and have always been 100% occupied. The building was constructed in 1970 and is situated on a 1.33 acre site. The majority of the building is industrial space (77.2%) versus residential space (22.8%). All aspects of the building are desirable especially based on the location along the main arterial (I90 and Route 25.) Effective Gross Income (doesn't include vacant commercial space) $204,557. Mixed use zoning makes this building desirable for multiple business types. If need be, the listing agent will advise on how to apply for special use with the City of Elgin. Appraisal on file.
Location
State IL
County Kane
Area Elgin
Zoning INDUS
Interior
Cooling Wall Sleeve, Window Unit(s)
Flooring Other
Fireplace N
Building
Level or Stories 2
Structure Type Brick
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Bought with Mary Hager-Swanson • Swanson Real Estate
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