Remarks

Reduced Price: For Sale 100% Occupied (two apartments and one retail space (retail space under a 5yr lease expiring in 2029 w/ one 3 yr option. Tenant funded build out underway with lease payments starting June 2024)... new pricing brings Cap Rate to 9.46%! Unheard of for this beautifully mix use three story property in the heart of Historic Downtown Aurora IL which is entering into an exciting Growth Phase and transforming into become a desirable and affordable Urban Lifestyle Destination. With multiple City and Development projects completed and currently underway. Aurora is surrounded by, Multi-Cultural Diversity, Arts, Entertainment, Dining and Proud Vibrant and Supportive Community with wonderful and popular civic events such as First Fridays, Farmers Markets and various family events, parades and other festivities throughout the year. This property has great visibility from West bound New York Street and South and North bound North Broadway. City parking lot in very close proximity. Located within walking distance to Metro Train Station and nearby entertainment which includes but not limited to Paramount Theater, RiverEdge Park, The Venue, French 75 and a variety of Restaurants, Pubs, Coffee Houses, Art Galleries and Artisans' Shops and a Music Scene that is in its infancy.... Aurora has blossomed and continues to do so since this properties transformation in 2018... with two beautifully updated 2 bedroom / 2 bath and fully rented residential units equipped with updated kitchen appliances, washer/dryer. The 1,500 sq/ft retail space, ideal for professional services, office, retail, etc..... This property is perfect for Owner Occupant and/or Investor. Financial qualifications required prior to scheduling showings. Contact the Listing Agent for more details.

Details

MLS#: 11842214
Price: $585,000

Style: Mixed Use
Sq Ft: 4500
Year Built: 1900

County: Kane
Lot Size: 168' X 21'
Tax Fee: 3607