Presented By
Listed By
Agency Name: Coldwell Banker Real Estate Group
Shown By
Agent Name: Julie Bletzinger, MBA
Agent Phone: (815) 540-6490
Property Description
Don't miss the opportunity to purchase this investment property downtown Leland. Current cash flow yields an incredible 12% cap rate. The property is made up of three buildings comprising 11,726 sf. Featuring 10 apartments 7 of which are leased (3 two bedroom and 4 one bedroom) as well as 3 retail spaces. Two of the apartments were just updated including flooring, kitchens/appliances and bathrooms. Two apartments have new windows as well. Past uses for first floor retail that could be revitalized include tea room with kitchen, beauty shop, dentists office and soda shop. The first floor can also be repurposed as office or a variety of other uses. There is potential for the right buyer to increase this to 17% with a fully leased building. Other recent improvements include two updated electrical panels, new porch in back and a new coin op washing machine. The electricity for the apartments is separately metered. The building is on boiler heat. One apartment has its own furnace with separately metered gas. Additional income comes from a coin operated washer and dryer. Call for a confidential rent roll.
Property Features
Feature Descriptions
100-108 Railroad Avenue, Leland, IL 60531
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100-108 Railroad Avenue, Leland, IL 60531
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100-108 Railroad Avenue | MLS# 11676534
This commercial property located at 100-108 Railroad Avenue, Leland, IL 60531 is currently listed for sale by Coldwell Banker Real Estate Group, with an asking price of $355,000. Search Leland real estate on jbletzinger.coldwellhomes.com today.