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700 Lake St Mundelein, IL 60060

Sponsored
For Sale
$779,900

High-Yield Investment Opportunity: Fully Leased

Property size:
26,595 SF

Description

Added:
Feb 3, 2025
Days on Market:
339
This exceptional mixed-use property, located at 700 N Lake Street in Mundelein, Illinois, presents a compelling investment opportunity. The two-story brick building boasts a substantial 26,595 square feet of space, strategically situated on a corner lot with convenient access to major roadways, Route 45 and Route 176, featuring curb cuts for easy ingress and egress. The first floor comprises three individual office suites, complete with shared public restrooms and a well-equipped kitchen area. The second floor mirrors this functionality, offering seven additional office suites and shared restrooms, ensuring ample space for tenants. Importantly, all units are currently leased, providing immediate and consistent rental income. Beyond the main floors, a lower level adds further versatility with a community room, two potential office suites, additional restrooms, and a dedicated storage room. Recent upgrades significantly enhance the property's value and appeal. These include a newer roof, newer windows, and brand new carpeting throughout the hallways and stairwells. The parking lot was also repaved in 2019, ensuring convenient and well-maintained parking for tenants and visitors. This fully leased, well-maintained property offers a strong return on investment with significant potential for future growth. The prime location and substantial square footage make this an attractive proposition for discerning investors seeking a stable and profitable addition to their portfolio. The asking price is $779,900.

Property Features for 700 Lake St

General Information

Property type
Mixed-use properties
Square Feet
26,595 SF

Building Details

Year Built
1979

Property Profile Location Intelligence

Current Use by Public Records

Mixed-use properties

Suggested Use

Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Dental Office Auto Repair Shop Hair Salon Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Mundelein
County
Lake
State
Illinois
Longitude
-88.00431
Latitude
42.27411

FAQs

What type of property is this?
Mixed-use property - High-Yield Investment Opportunity: Fully Leased
Where is this mixed-use property located?
The property is located at 700 Lake St Mundelein, IL.
What is the asking price?
The asking price for this property is $779,900.
More about this property
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