Mixed-Use Building in
115-117 N Main Street, Crystal Lake, IL 60014
Two-story mixed-use building with retail and meeting hall space.
Type:Commercial
Property size:
4,630 SFPrice / SF:
$122/SF- Added:
- Jan 9, 2026
- Days on Market:
- 127
- Last Refresh:
- Apr 5 at 9:11 pm
Property Features for 115-117 N Main Street
General Information
- Standard status
- Active
- Size
- 4,630 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1905
Listing agent BRUCE KAPLAN License #475075614
Listing office PREMIER COMMERCIAL REALTY (847) 854-2300
Listing date Jan 9, 2026
Source Corcoran
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 PREMIER COMMERCIAL REALTY
HighLights
- Prime downtown Crystal Lake location, close to the train station
- Mixed‑use building with two retail units and a large second‑floor space
- Value‑add opportunity with vacant retail space and a former meeting hall ready for rehab
- Existing rental income from occupied retail space ($1,700/month)
- Large basement (4,630 SF) under the entire building
- Separate utilities for each unit (electric and gas) and ample parking
Overview
This two-story masonry mixed-use building is located in downtown Crystal Lake. The property features two first-floor retail units and a second-floor former meeting hall. One retail space, currently occupied by a bicycle store, spans 2,075 square feet with an additional basement and is leased month-to-month for $1,700 per month gross. The other retail unit is vacant, offering 1,500 square feet plus a basement, ready for immediate rental. Each retail space is equipped with its own GFA furnace and A/C. A 1,000 square foot storage space with separate entrances is situated between the two retail units. The second floor comprises a 4,630 square foot former meeting hall, complete with a bar, kitchen, two small bathrooms, and two GFA furnaces with rooftop A/C units. The building has a fieldstone foundation and a 4,630 square foot basement that extends under the entire structure, along with a barrel roof. The property is suitable for a value-add rehab project and is located close to the train station. It features separate electric and gas services. Parking is available in a free City parking lot behind the building, as well as street parking and on-site spaces.
Financial Insights
Value Estimation Calculated for Mixed Use
Conservative
$532.5K
NOI $47,921 @ 9.00% cap · cautious / downside scenario
Moderate
$684.6K
NOI $47,921 @ 7.00% cap · market / base-case scenario
Aggressive
$958.4K
NOI $47,921 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Mixed Use
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $83.3k | $18.00 |
| − Vacancy | −$6.7k | −$1.44 |
| EGI | $76.7k | $16.56 |
| − OpEx | −$28.8k | −$6.21 |
| NOI | $47.9k | $10.35 |
4,630 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 37.50%
Alternative Use Scenarios
Best Use
Mixed Use
$684.6K
$599.0K – $798.7K
NOI $47,921 @ 7.0% cap · market cap 8.48%
Second Best
Retail
$638.2K
$558.5K – $744.6K
NOI $44,677 @ 7.0% cap · market cap 7.91%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,897 @ 7.0% cap · market cap 19.80%
Zoning and permitted uses should be independently verified with local authorities.
Location Intelligence
Current Use by Public Records
Retail space
Location Insight
- Map
- Local Demand
- City
- Crystal Lake
- County
- McHenry
- State
- Illinois
- Longitude
- -88.3202
- Latitude
- 42.2284
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Two-story mixed-use building with retail and meeting hall space.
Where is this mixed-use property located?
The property is located at 115-117 N Main Street Crystal Lake, IL.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Prime downtown Crystal Lake location, close to the train station; Mixed‑use building with two retail units and a large second‑floor space; Value‑add opportunity with vacant retail space and a former meeting hall ready for rehab
