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3 Commercial Property Portfolio Includes 2 Strip Malls and Large Multi Family Residential- GREAT OPPORTUNITY! Buy one or ALL!

ID #:525445
$4,100,000
850 Pappas Drive
DeKalb, IL 60115 
1031 Exchange

Presented By:

David Jacobson

Phone: (847) 809-2074
Alt: (847) 809-2074
Email: Djacobson122@gmail.com
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Property Details

Restrooms: 6
Year Built: 1997
Lot Size: 1.25 AC
Type: Shopping Center
Parking Spaces: 80
Ceiling Height: 16 ft
Building Sq Ft: 8,200
Total Stories: 1
Floor Location: 1
Current Occupancy: Occupied
Contact Info
County N/A
Taxes N/A
Total Rooms N/A
Sale Type:Resale
Complex/Area: One Block From NIU/Greek Row

Description:

Portfolio Includes 3 separate properties. Sale price listed is for entire portfolio! Motivated owner looking to move out of state. Will separate if necessary for the right offer. Listed at 8.5 Cap! Building 1. 850 Pappas Drive DeKalb. 4 unit Commercial Strip Center just blocks away from Northern IL University Campus in the "Greek Row" Neighborhood with one of the highest density residential tenancies in all of DeKalb. Currently Fully Leased. National Anchor. Long term tenants benefit from high traffic Annie Glidden Rd frontage. Low expenses and very well maintained. Built 1997. 8200 sq ft, 1.25 Ac, 80 Parking Spaces! Building 2. 151 East Route 38 Elburn. Commercial Strip Center in Elburn Illinois. 8 commercial rental spaces. Excellent visibility and Route 38 Frontage. Generates GREAT Cash Flow! Built 2001. Building in excellent condition with minimal vacancy. Several Long term tenants. Excellent opportunity under replacement value. Major Traffic Generators include Walgreens and Jewel anchored shopping centers across the street and a McDonalds right next store (Shared entry drive). Sprinkled Building. Perfectly situated just off the high traffic corner of routes 38/47 and on the main route to the Elburn train station! Excellent high income 1/5/10 demographics! 10,439 sq ft, 1.17 Ac, 66 Parking Spots! Building 3. 917 Greenbrier Road, DeKalb. 24 Bedroom Multi Family/Boarding House (48 Occupancy). Cinder block construction. HUGE Cash Flow. Fully remodeled, Newer Mechanicals, Long list of Upgrades and Investments! 5 year Group contract in place with existing tenant (One check per month for all 24 rooms!). In the Heart of Greek Row just blocks from the NIU Campus. .25 AC, 15 Parking Spaces, Built 1969. All properties are well maintained and just had new GACO Liquid Roofs Installed. Significant capital investment has been put into all 3 buildings over past 3-4 years. Additional information, list of upgrades, offering memos, and financials for each property/entire portfolio available upon request. All properties are well maintained and just had new GACO Liquid Roofs Installed. Significant capital investment has been put into all 3 buildings over past 3-4 years. Additional information, list of upgrades, offering memos, and financials for each property/entire portfolio available upon request. 2.5% Broker Co-Op offered on Closed Transactions!
Current Use:Retail
Building Type: Neighborhood Center
Road Frontage: High traffic State Route (Annie Glidden Road) Frontage
Expenses: 29998
Cap Rate: 8.5>
Operating Income: 118150
Annual Income: 148148 (gross)

Features

Property Features:

  • Air Conditioned
  • Cable TV
  • Display Window
  • Ground Level Door
  • Handicapped Access
  • Kitchen Facilities
  • Natural Gas
  • Outside Lighting
  • Public Sewer
  • Rear Access
  • Restrooms - Handicapped
  • Restrooms - Public
  • Smoke Alarm
  • Forced Air
  • Security System Owned
  • Individual Electric Meter
  • Individual Gas Meter
  • Individual Water Meter

Lot Features:

  • Retail Frontage
  • Corner
  • Shopping Center
  • West Side of Street
  • Street Lights
  • Open Parking
  • Public Parking
For additional information on this property click here.

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Information provided is for viewer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the viewer may be interested in. All information is deemed reliable but its accuracy is not guaranteed and the viewer should independently verify all information.