Property Info:

Units – 25,000 SF Mixed Use

PRICE – $535,000

The subject property is a 25,000 SF retail/office building in the heart of downtown Elgin. The building is approximately 50% occupied with the (2) Grove Street retail spaces, garden store, 3rd floor wing, and part of the 2nd floor occupied. A new investor or owner occupant has the ability to renovate and lease the 77 Riverside address retail/office space and the majority of the 2nd floor office space. The investment allows for an investor to have stable cash flow (5.58% CAP, $96,000 gross income) and update to a strong double digit CAP Rate (14.18% excluding capital improvement, $162,000 gross income). At ~$30 per square foot is a true add value investment in a great Elgin location.