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    1118 Morse Avenue

    Schaumburg, IL 60193
    • $1,445,000
    • STATUS: Active
    • ON SITE: 88 days
    • MLS #: 10993758
    $1,445,000
    • 0
      BEDS
    • 1.08
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 20,620
      SQFT
    • $70
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1988
    County:
    Area:

    School Ratings & Info

    Description

    The subject property is a two-tenant, 20,620 square foot industrial property, located in Spectrum Industrial Park on the south side of Schaumburg, along the Elgin O'Hare Expressway (IL-390). The building has a total of three drive-in doors and two interior loading docks and has the ability to be subdivided into three separate units. The ceiling height is 14' clear. A portion of the roof was re-done several years ago with a remaining 8 year warranty which can be transferred to a new owner. The property is situated on 1.08 acres with the parking lot in the back of the building, and overall the property is in good condition. The building is located in the County of Cook, with relatively low real estate taxes for the area. Currently, the building has one 10,000 square foot vacancy and one occupied 10,620 SF space. The tenant is Mercury Products who has been in the building for the past 3 years. Mercury Products has a one-year lease expiring at the end of February, 2022. They have been renewing annually for the past 3 years. Mercury Products pays a monthly gross rent of $8,100. The short term lease allows a new owner to either expand into the occupied unit, or increase the rent at the next renewal. The property offers an ideal opportunity for an owner/user investor to utilize the income while occupying half of the building, or allows an investor to increase value by leasing to a new tenant. The estimated increase in value is $98,000 after expenses based on a rent of $9.50/SF.

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    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2021-05-11T23:52:03.69 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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    1118 Morse Avenue Schaumburg, IL 60193

    • Price: $1,445,000
    • Status: Active
    • MLS #: 10993758
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.08
    Acres
    20,620
    SQFT
    $70
    $/SQFT
    1988
    Built
    Neighborhood:
    Schaumburg
    County:
    Cook
    Area:
    Schaumburg
    Property Description
    The subject property is a two-tenant, 20,620 square foot industrial property, located in Spectrum Industrial Park on the south side of Schaumburg, along the Elgin O'Hare Expressway (IL-390). The building has a total of three drive-in doors and two interior loading docks and has the ability to be subdivided into three separate units. The ceiling height is 14' clear. A portion of the roof was re-done several years ago with a remaining 8 year warranty which can be transferred to a new owner. The property is situated on 1.08 acres with the parking lot in the back of the building, and overall the property is in good condition. The building is located in the County of Cook, with relatively low real estate taxes for the area. Currently, the building has one 10,000 square foot vacancy and one occupied 10,620 SF space. The tenant is Mercury Products who has been in the building for the past 3 years. Mercury Products has a one-year lease expiring at the end of February, 2022. They have been renewing annually for the past 3 years. Mercury Products pays a monthly gross rent of $8,100. The short term lease allows a new owner to either expand into the occupied unit, or increase the rent at the next renewal. The property offers an ideal opportunity for an owner/user investor to utilize the income while occupying half of the building, or allows an investor to increase value by leasing to a new tenant. The estimated increase in value is $98,000 after expenses based on a rent of $9.50/SF.
    Exterior Features

    Docks Interior

    Interior Features

    Cooling Central Air Heat Ventilation Other

    Property Features

    Additional Parcels YN Yes Built Before1978 YN No Existing Lease Type N/A Expense Year 2020 Geographic Locale Northwest Suburban Gross Scheduled Income 97200 Lot Size Dimensions 1.08 Net Operating Income Year 2020 Operating Expense 12294 Property Offered For Sale Only Tax Annual Amount 82086 Tax Year 2019 Tenant Pays Other Zoning Indus

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Sperry Van Ness.


    © 2021 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or Ani Real Estate. Based on information submitted to the MRED as of 2021-05-11T23:52:03.69 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

    Digital Millennium Copyright Act
     
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