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    516 W State Street

    Geneva, IL 60134
    • $495,000
    • STATUS: Active
    • ON SITE: 168 days
    • MLS #: 10942384
    UPDATED: 51 min ago
    $495,000
    • 0
      BEDS
    • 0.15
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 3,390
      SQFT
    • $146
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1950
    County:
    Area:

    School Ratings & Info

    Description

    FOR SALE- Awesome downtown Geneva commercial building available for either an investor or owner-user. This 1950 vintage 3,390 sf single story brick and stone building contains has 3 tenant spaces, all of which are occupied. Two of the spaces face State Street while the 3rd is toward the back-parking area. The two street-side suites are leased to retail stores, each being 1,320 sf and the rear 720 sf suite is leased to a chiropractor. The tenants are fine quality and long-term. For investor buyers, the leases are short-term expiring early 2021, so adjustments could be made improving the cash flow & NOI. For owner-occupant buyers, the leases are short term. The former backyard space was combined with the 2 adjacent properties' backyards to create a shared parking area with access easements to both 5th and 6th streets. It was created when the building to the west was built around 2005. The owner of the building to the west manages the parking area and the cost of maintenance is apportioned based on area. The intent of the partnership is to provide employee vs. public parking. Maintenance includes landscaping, snow removal, repairs and refuse service. The property is also in the Geneva downtown SSA1 which is paid as part of the real estate taxes... See add'l info for tax bill and building blue prints.

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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 2021-05-16T10:52:31.67 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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    516 W State Street Geneva, IL 60134

    • Price: $495,000
    • Status: Active
    • Updated: 51 min ago
    • MLS #: 10942384
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.15
    Acres
    3,390
    SQFT
    $146
    $/SQFT
    1950
    Built
    Neighborhood:
    Geneva
    County:
    Kane
    Area:
    Geneva
    Property Description
    FOR SALE- Awesome downtown Geneva commercial building available for either an investor or owner-user. This 1950 vintage 3,390 sf single story brick and stone building contains has 3 tenant spaces, all of which are occupied. Two of the spaces face State Street while the 3rd is toward the back-parking area. The two street-side suites are leased to retail stores, each being 1,320 sf and the rear 720 sf suite is leased to a chiropractor. The tenants are fine quality and long-term. For investor buyers, the leases are short-term expiring early 2021, so adjustments could be made improving the cash flow & NOI. For owner-occupant buyers, the leases are short term. The former backyard space was combined with the 2 adjacent properties' backyards to create a shared parking area with access easements to both 5th and 6th streets. It was created when the building to the west was built around 2005. The owner of the building to the west manages the parking area and the cost of maintenance is apportioned based on area. The intent of the partnership is to provide employee vs. public parking. Maintenance includes landscaping, snow removal, repairs and refuse service. The property is also in the Geneva downtown SSA1 which is paid as part of the real estate taxes... See add'l info for tax bill and building blue prints.
    Exterior Features

    Construction Materials BrickStone Foundation Details Concrete Perimeter Frontage Type City StreetPublic RoadState Road Location Central Business District Number Of Drive In Doors 0 Number Of TLDocks 0 Parking Total 10 Roof Membrane Roof Structure Flat

    Interior Features

    Ceiling Height Ft 9 Cooling Central Air Electric Circuit Breakers Fire Protection Alarm Monitored Heat Ventilation Forced Air Leasable Area 1320

    Property Features

    Additional Parcels YN No Current Use Commercial Existing Lease Type Modified Gross Expense Year 2020 Exterior Building Type BrickStone Gross Income 46200 Gross Rentable Area 3390 Gross Scheduled Income 46200 Investment YN Yes Known Encumbrances Other Lot Size Dimensions 45 X 150 Min Avail Sq Ft Rentable 720 Net Operating Income Year 2020 Net Rentable Area 3390 Number Of Tenants 3 Operating Expense 18376 Property Offered For Sale Only Tax Annual Amount 10996 Tax Year 2019 Tenant Pays Air ConditioningElectricityHeatJanitorial Service Total Monthly Income 3850 Unincorporated YN No Zoning Commr

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Coleman Land Company.


    © 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 2021-05-16T10:52:31.67 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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