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Joe Morrissey
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100-108 Railroad Avenue, Leland, IL 60531

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Presented By

Listed By

Agency Name: Coldwell Banker Real Estate Group

agent picture

Shown By

Agent Name: Joe Morrissey
Agent Phone: Cell: (630) 715-1360

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.

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 today.

Property Features

Property Type: Commercial - Retail
Cooling: Window Unit(s)
Lot Size: 0.28 Acres
Stories: 2.0
Taxes: $4,446
Year Built: 1905

Feature Descriptions

Days on Site: 124
Drains: Sun Deck
Electric: Circuit Breakers, Service - 201 to 600 Amps
Exterior: Brick, Wood Frame
Fire Protection: Other
Frontage Type: City Street
HVAC: Forced Air, Gas, Hot Water, Radiators
Lot Dimensions: 79.5X94.5X24.5X99X50X193
Miscellaneous Indoor: Basement, Laundry Room
Miscellaneous Outdoor: Sun Deck
Parcel#: 0408207003
Parking Total: 0
Parking Total: 0
Tenant Pays: Electricity
Units: 13


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