11
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$1,800,000
Est. payment /mo
23,088 SqFt
Active Under Contract
101 N VIRGINIA ST Crystal Lake, IL 60014
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UPDATED:
09/26/2024 02:58 PM
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 23,088 sqft
Price per Sqft $77
MLS Listing ID 10320242
Year Built 1980
Annual Tax Amount $53,921
Tax Year 2023
Lot Size 1.240 Acres
Lot Dimensions 200X280
Property Description
INVESTMENT OPPORTUNITY * 23,088 SF OFFICE BUILDING 10% CAP RATE * 12.2% PROFORMA CAP RATE Attractive multi-tenant 2-story brick corporate office building on Route 14 in Crystal Lake at signalized intersection. Anchor tenant is Chicago Title and Trust. New roof in 2017. Mature landscaping and 70 car parking. Tenants pay electric heat and outlets. Landlord pays for air conditioning. Auxiliary electric baseboard heaters throughout. 12.2 % Proforma CAP rate with 5% vacancy factor. Current 10 % CAP with 17.8% vacancy. Ask broker for confidential operating statement and rent roll.
Location
State IL
County Mchenry
Area Crystal Lake / Lakewood / Prairie Grove
Zoning OFFIC
Interior
Cooling Central Air
Flooring Carpet, Tile
Fireplace N
Exterior
Utilities Available Electric to Site, Sanitary Sewer, Water-Municipal
Roof Type Membrane
Building
Dwelling Type Office/Tech
Level or Stories 2
Structure Type Brick
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Bruce Kaplan • Premier Commercial Realty
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