Rachel Anderson
- Buy
- Sell
https://www.ruhlmortgage.com/GregCotton.html
Description
The subject property is an eight-unit neighborhood retail center constructed in 1999, offering a diverse and stable tenant mix. Current tenants include China Garden restaurant, a tax service office, a staffing agency, two hair salons, and a retail shop(bakery). The property currently has one vacancy, which the owner is using for storage. All tenants are responsible for their own utilities, providing an efficient and low-maintenance expense structure for ownership. The center features a 21-space parking lot, offering convenient access for both tenants and customers. This property presents a compelling value-add opportunity, as all but one tenant is on year-by-year leases at below-market rental rates, allowing for future income growth through lease renewals and repositioning. Strategically located near the Lake County Courthouse and Sheriff's Office, and steps to Genesee Theatre and Metra. office buildings. The property benefits from strong daytime traffic and excellent accessibility, making it a highly convenient destination for both employees and residents.
Property Highlights
Property Type: Commercial - Retail
Building Description: 1.0 stories
Year Built: 1999
General Information
County: Lake
Listed By:
RE/MAX SAWA
877-312-7292
MRED MLS
MLS ID: 12692069
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316 N Geneesee Street, Unit 304-318, Waukegan, IL 60085.
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563-441-1862
toll free 866-441-1862
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $749,000 | $749,000 | $749,000 |
| Down Payment | $149,800 | $26,215 | $187,250 |
| Monthly Mortgage Amount | $3,641 | $4,469 | $4,627 |
| Taxes | $1042 | $1042 | $1042 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $329 | $0 |
| Monthly Estimated Total | $4,901 | $6,058 | $5,887 |
Rachel Anderson
REALTOR®
Cell: (309) 235-2939
Licensed in IA & IL
Davenport Office
4545 Welcome Way
Davenport, IA 52806
(563) 441-5100
Davenport, IA 52806
(563) 441-5100
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