- Investment For Sale
- 1600 North Avenue, Crystal Lake, IL 60014.
- Price: $1,599,900
- 9,977 sq. ft.
- 100% Leased
- 16-17 Units
Income-Producing Residential Units
16 Residential income producing units consisting of (5) single family homes, (4) duplexes, (1) Triplex, plus a separately leasable garage with office – used as a car dealership. Zoning is B-1. Buildings are all considered legal non-conforming, (2) wells, (6) septic tanks, (3) lift stations. Several of the units have been completely rehabbed. ($125K in capital improvements in the last 2 years)
Engineering and survey done for proposed 5-unit commercial building plus (1) apartment. Potential for additional $72,000 gross income.
7.4% CAP rate. Proforma CAP rate is 8.37% bringing rents on certain units to market. Contact broker for rent roll and operating statement.