$1,650,000
$1,800,000
8.3%For more information regarding the value of a property, please contact us for a free consultation.
11,306 SqFt
SOLD DATE : 06/26/2023
Key Details
Sold Price $1,650,000
Property Type Commercial
Sub Type Retail/Stores
Listing Status Sold
Purchase Type For Sale
Square Footage 11,306 sqft
Price per Sqft $145
MLS Listing ID 11726339
Sold Date 06/26/23
Year Built 1910
Annual Tax Amount $32,680
Tax Year 2021
Lot Dimensions 138X48X138X48
Property Sub-Type Retail/Stores
Property Description
Don't miss the chance of a lifetime to own this landmark retail building in desirable downtown Geneva. With potential for two retail store fronts this is an unbeatable location in the middle of everything that downtown Geneva has to offer. The versatile D-CM zoning allows for a variety of mixed use development that can provide an exponential return on investment for the right buyer including second floor condos or apartments. Updates to the roof in 2022 qulaify for a 20 year warranty. A newer elevator serves all three levels and the building is fully sprinklered. Features include prominent display windows on State St, distinctive and historic interior finishes and original narrow plank hardwood flooring (refinished in 2020) not to mention gorgeous original tin ceilings and millwork. Currently set up for retail use there are multiple showrooms on the first and second floors, dedicated office space and kitchen facilities. The basement is clean, dry and suitable for showroom display, production and storage. Three levels comprised of 16,500 sf total lends itself to uses such as an event center, brewery, restaurant, furniture store, retail store and more. The original building is 8575 sf above grade plus a 4105 sf basement. An addition was added in 2001 consisting of 2590 sf on two levels and a 1230 sf basement. Mechanical and electrical systems have been updated. A possible leaseback by Geneva Design House/Strawflower Shop, a long standing anchor business to the downtown area provides an opportunity for immediate cash flow. Tenant can also downsize or vacate for an owner user or full building development. Owner is open to strategic partnerships and creative ideas. Plans are on file for condo development of the second floor.
Location
State IL
County Kane
Area Geneva
Zoning OTHER
Interior
Cooling Central Air
Flooring Wood
Fireplace N
Building
Level or Stories 2
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Bought with Debora McKay • Coldwell Banker Realty
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "