Versatile Retail Flex
108 Mulberry Street Chatham, IL 62629
108 Mulberry Street, Chatham, IL, 62629
$425,000
For Sale
$425,000
Property currently operates as a salon and includes substantial additional space behind for flexible reconfiguration.
Property Size3,869 SF
Price / SF$109.85
Days on Market68
Property Features for 108 Mulberry Street
General Information
- Standard status
- Active
- Size
- 3,869 SF
- Property subtype
- Commercial
Listing agency
The Real Estate Group, Inc.
(217) 691-0999
Listed by
Melissa Grady · License #475114067
(217) 691-0999
Source
Craggsrealtors
Added: May 15 Updated: Jul 21 at 6:06AM Checked: Jul 21 at 6:06AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Real Estate Group, Inc.
Investment Insights
Based on property information with market context.
This versatile commercial property is currently operating as a salon, with additional space behind the existing salon area. The building includes multiple rooms and separate entrances, supporting a range of business configurations for future tenants or redevelopment plans. Inspections are welcome, and the property is being sold as-is.
The property is located at 108 Mulberry Street in Chatham, Illinois. It also features a 24x32 garage with an 8-foot overhead door, providing added storage, workshop, or operational space to support on-site use.
The property is located at 108 Mulberry Street in Chatham, Illinois. It also features a 24x32 garage with an 8-foot overhead door, providing added storage, workshop, or operational space to support on-site use.
Key Highlights
- Commercial property currently operating as a salon in the heart of Chatham
- More than 3,000 SF of additional space behind the salon for flexible reconfiguration
- Multiple rooms with separate entrances to support different business layouts and uses
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.0k | $15.00 |
| − Vacancy | −$4.6k | −$1.20 |
| EGI | $53.4k | $13.80 |
| − OpEx | −$16.0k | −$4.14 |
| NOI | $37.4k | $9.66 |
3,869 SF · lease $15.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$533.9K
$467.2K – $622.9K
NOI $37,375 @ 7.0% cap · market cap 8.79%
Second Best
Flex RnD
$383.0K
$335.1K – $446.8K
NOI $26,807 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$854.5K
$747.7K – $996.9K
NOI $59,814 @ 7.0% cap · market cap 14.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Changing Faces
Hair Salon
Similar For Sale Nearby
FAQs
What type of property is this?
Spa & wellness property - Property currently operates as a salon and includes substantial additional space behind for flexible reconfiguration.
Where is this spa & wellness property located?
The property is located at 108 Mulberry Street Chatham, IL.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Commercial property currently operating as a salon in the heart of Chatham; More than 3,000 SF of additional space behind the salon for flexible reconfiguration; Multiple rooms with separate entrances to support different business layouts and uses
