1750 Cumberland Drive

    Algonquin, IL 60102
    • $695,000
    • STATUS: Active Under Contract
    • ON SITE: 27 days
    • MLS #: 10490228
    Under Contract
    UPDATED: 57 min ago
    $695,000
    • 0
      BEDS
    • 1.95
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 17,335
      SQFT
    • $40
      $/SQFT
    Neighborhood:
    Type:
    Commercial
    Built:
    1975
    County:
    Area:

    School Ratings & Info

    Description

    FULLY LEASED 14-UNIT 17000 SF MASONRY INDUSTRIAL BUILDING BUILT IN 2-STAGES (1975 AND 1994). 6-1000 SF UNITS WITH 14 FT CEILINGS AND 8 1400 SF UNITS WITH 15 FT CEILINGS. EACH WITH A BATHROOM AND SEPARATE GAS AND ELECTRIC METERS. UNITS 7-14 HAVE SEPARATE WATER METERS; LANDLORD PAYS WATER/SEWER FOR UNITS 1-6. NUMEROUS RECENT UPGRADES INCLUDED: 1) NEW RUBBER MEMBRANE ROOF WITH 15 YEAR WARRANTY (2013), 2) NEW PARKING LOT (2018), 3)EXTERIOR STAIN (2018) 4) TUCKPOINT TOUCHUP (2016), 5) NEW FIRE ALARM PANEL (2019) 6)NEW BACKFLOW PREVENTER (2019). 7.4% CURRENT CAP RATE WITH MUCH UPSIDE (LEASES ARE BELOW MARKET AND ALL MONTH TO MONTH). CURRENT WAITING LIST. UNITS HAVE 13 10X12 DRIVE IN DOORS SO YOU CAN DRIVE THRU. INDIVIDUAL GFA CEILINGS UNITS-A FEW HAVE CENTRAL AIR. SOME HAVE SMALL OFFICES. ADDITIONAL ADJACENT LAND AVAILABLE SEPARATELY FOR EXPANSION (2.23 ACRES FOR ONLY $126000).

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    © 2019 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 John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2019-09-16T21:50:31.643 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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    www.johnlyonsrealestate.com/homes/98105172

    1750 Cumberland Drive Algonquin, IL 60102

    • Price: $695,000
    • Status: Active Under Contract
    • Updated: 57 min ago
    • MLS #: 10490228
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.95
    Acres
    17,335
    SQFT
    $40
    $/SQFT
    1975
    Built
    Neighborhood:
    Algonquin
    County:
    McHenry
    Area:
    Algonquin
    Property Description
    FULLY LEASED 14-UNIT 17000 SF MASONRY INDUSTRIAL BUILDING BUILT IN 2-STAGES (1975 AND 1994). 6-1000 SF UNITS WITH 14 FT CEILINGS AND 8 1400 SF UNITS WITH 15 FT CEILINGS. EACH WITH A BATHROOM AND SEPARATE GAS AND ELECTRIC METERS. UNITS 7-14 HAVE SEPARATE WATER METERS; LANDLORD PAYS WATER/SEWER FOR UNITS 1-6. NUMEROUS RECENT UPGRADES INCLUDED: 1) NEW RUBBER MEMBRANE ROOF WITH 15 YEAR WARRANTY (2013), 2) NEW PARKING LOT (2018), 3)EXTERIOR STAIN (2018) 4) TUCKPOINT TOUCHUP (2016), 5) NEW FIRE ALARM PANEL (2019) 6)NEW BACKFLOW PREVENTER (2019). 7.4% CURRENT CAP RATE WITH MUCH UPSIDE (LEASES ARE BELOW MARKET AND ALL MONTH TO MONTH). CURRENT WAITING LIST. UNITS HAVE 13 10X12 DRIVE IN DOORS SO YOU CAN DRIVE THRU. INDIVIDUAL GFA CEILINGS UNITS-A FEW HAVE CENTRAL AIR. SOME HAVE SMALL OFFICES. ADDITIONAL ADJACENT LAND AVAILABLE SEPARATELY FOR EXPANSION (2.23 ACRES FOR ONLY $126000).
    Exterior Features

    Construction Brick Door Dimensions 10X12 Foundation Concrete Frontage Access City Street Location Commercial Business Park Lot Dimensions 170X774 Lot Sq Ft 84942 Number Of Parking Spaces 34 Number Of TLDocks 0 Roof Coverings Membrane Roof Structure Flat

    Interior Features

    Air Conditioning Partial Ceiling Hgt Max Ft 15 Ceiling Hgt Max In 0 Ceiling Hgt Min Ft 14 Ceiling Hgt Min In 0 Fire Protection Partially Sprinklered Floor Finish Concrete Miscellaneous Inside Overhead Door/SPrivate Restroom/S Number Of Drive In Doors 13 Number Of Stories 1 Outdoor Parking 31-50 SpacesOpenPavedPrivate Lot

    Property Features

    Age 26-35 Years Built Before1978 YN Yes Clear Span YN Yes Contingency Flag Financing Current Use Other Electrical Service Circuit BreakersSeparate Meters101-200 Amps Expense Year 2018 Exterior Building Type Brick Extra Storage Spaces Available YN No Geographic Locale Northwest Suburban Gross Rentable Area 17000 Gross Rental Income Amount 104400 Heat Ventilation Ceiling UnitsForced AirGas Investment YN Yes Known Encumbrances None Known Max Avail Sq Ft Rentable 0 Min Avail Sq Ft Rentable 0 Net Oper Income Amount 51680 Net Operating Income Year 2018 Number Of Tenants 14 Possession Negotiable Potential Use Industrial/Mfg Property Offered For Sale Only Sale Terms Conventional Tax Year 2018 Taxes 22572 Tenant Pays Air ConditioningElectricHeatScavengerWater/SewerOtherVaries By Tenant Total Annual Exp 47500 Total Annual Expense Source Combination Total Annual Income 104400 Total Monthly Income 8700 Township Algonquin Unincorporated YN No Utilities To Site Electric To SiteGas To SiteSanitary Sewer To SiteWater-Municipal Zoning Type Indus

    Listing information © 2019 Midwest Real Estate Data LLC.
    Listing provided courtesy of Premier Commercial Realty.


    © 2019 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 John Lyons Real Estate | Baird & Warner. Based on information submitted to the MRED as of 2019-09-16T21:50:31.643 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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