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    3224 Ridge Road

    Lansing, IL 60438
    • $1,600,000
    • STATUS: Active
    • ON SITE: 3 days
    • MLS #: 11046021
    New On Site 3 Days Ago
    UPDATED: 63 min ago
    $1,600,000
    • 0
      BEDS
    • 0.79
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 14,000
      SQFT
    • $114
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1986
    County:
    Area:

    School Ratings & Info

    Description

    Best armchair investment opportunity you'll see all year! 3 Year average NOI is over $127K and seller has already completed all major renovations to this property. Over $220K worth of improvements made over the last 3 years. New roof (2018); new HVAC units (2018-2021); new windows (2019-2021); new LED lighting in offices, common areas and monument sign; updates to parking lot and exterior lighting; new electronic entry/intercom FOB system and security cameras for 2nd floor offices; all newly renovated offices and hallways. Nothing to do here but collect the rent!! This 12-unit building is fully leased. Handicap accessible elevator building is in great shape. Ample parking in front of building and large parking lot behind building for customers, clients and employees.

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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 The Perotti Group. Based on information submitted to the MRED as of 2021-04-11T18:52:03.357 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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    3224 Ridge Road Lansing, IL 60438

    • Price: $1,600,000
    • Status: Active
    • Updated: 63 min ago
    • MLS #: 11046021
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.79
    Acres
    14,000
    SQFT
    $114
    $/SQFT
    1986
    Built
    Neighborhood:
    Lansing
    County:
    Cook
    Area:
    Lansing
    Property Description
    Best armchair investment opportunity you'll see all year! 3 Year average NOI is over $127K and seller has already completed all major renovations to this property. Over $220K worth of improvements made over the last 3 years. New roof (2018); new HVAC units (2018-2021); new windows (2019-2021); new LED lighting in offices, common areas and monument sign; updates to parking lot and exterior lighting; new electronic entry/intercom FOB system and security cameras for 2nd floor offices; all newly renovated offices and hallways. Nothing to do here but collect the rent!! This 12-unit building is fully leased. Handicap accessible elevator building is in great shape. Ample parking in front of building and large parking lot behind building for customers, clients and employees.
    Exterior Features

    Frontage Type City Street Location Commercial Business Park Number Of Drive In Doors 0 Number Of TLDocks 0 Parking Total 55

    Interior Features

    Cooling Central Air Electric Separate Meters101-200 Amps Fire Protection Fire Extinguisher/S Heat Ventilation Gas Leasable Area 0 Miscellaneous Inside Elevator/S PassengerHandicapped AccessMulti-TenantPrivate Restroom/S

    Property Features

    Additional Parcels YN No Cap Rate 7.4 Current Use Commercial Electric Expense 1400 Expense Year 2020 Extra Storage Spaces Available YN No Financial Amounts For Total Building Rental No Gross Income 183000 Gross Rentable Area 11723 Gross Scheduled Income 182867 Insurance Expense 3440 Investment YN Yes Known Encumbrances None Known Lot Size Dimensions 270X125 Min Avail Sq Ft Rentable 0 Net Operating Income Year 2021 Number Of Tenants 12 Operating Expense 64781 Other Expense 12362 Property Offered For Sale Only Tax Annual Amount 45573.3 Tax Year 2019 Tenant Pays Air ConditioningElectricityHeatTaxesOther Total Monthly Income 16252 Trash Expense 1306 Water Sewer Expense 1000 Zoning Commr

    Listing information © 2021 Midwest Real Estate Data LLC.
    Listing provided courtesy of Weichert, Realtors The Home Team.


    © 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 The Perotti Group. Based on information submitted to the MRED as of 2021-04-11T18:52:03.357 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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    The Perotti Group
    19 W 1st Street, Suite 2
    Hinsdale IL, 60521