Mixed-Use Building with
For Sale
$725,000
205 S Main St, Algonquin, IL 60102
1902 building with restaurant infrastructure, dining space, gaming room, basement area, and two upper-level apartments.
Property Size4,400 SF
Price / SF$164.77
Days on Market51
Property Features for 205 S Main St
General Information
Standard status
Active
Size
4,400 SF
Additional Details
Furnished
No
Equipment Included
No
Multifamily Units
2
Amenities
video gaming room
Building Details
Year Built
1902
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Suburban
Listed By:
Mary Opfer · License #750112389
(847) 308-3724
Source:
Stollrealestate
Added: Aug 24
Changed: Oct 6
Last Checked: Oct 7 at 1:12PM
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 RE/MAX Suburban
Investment Insights
Based on property information with market context.
Built in 1902, this 4,400-square-foot mixed-use property combines an established restaurant and bar layout with residential space. The main level includes booth and table seating for more than 90 guests, a dedicated video gaming room, and supporting basement space. Two apartments occupy the second floor, creating a residential component within the building.
The property is positioned in Historic Downtown Algonquin along the Fox River, an area described as having undergone substantial revitalization. Its setting supports consideration of restaurant, retail, office, entertainment, or other commercial concepts, subject to applicable requirements. A roof replacement completed in 2019 adds a documented recent improvement to the building.
The property is positioned in Historic Downtown Algonquin along the Fox River, an area described as having undergone substantial revitalization. Its setting supports consideration of restaurant, retail, office, entertainment, or other commercial concepts, subject to applicable requirements. A roof replacement completed in 2019 adds a documented recent improvement to the building.
Key Highlights
- 4,400‑square‑foot mixed‑use building constructed in 1902
- Restaurant and bar configuration with seating for 90+ guests
- Dedicated video gaming room and basement space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,670
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,400
$1.0M
Cap Rate 7%
$738,143
$738.1K
Cap Rate 9%
$574,111
$574.1K
Market Conditions
NOI Build-Up for 4,400 SF
Gross rent
$73.9K $16.80/SF
− Vacancy
−$5.0K −$1.14/SF
EGI
$68.9K $15.66/SF
− OpEx
−$17.2K −$3.91/SF
NOI
$51.7K $11.74/SF
Area
McHenry County, IL
Vacancy
6.80%
Lease Rate
$16.80 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,033,400
Cap Rate 7%
$738,143
Cap Rate 9%
$574,111
Alternative Uses
Best Use
Specialty Retail
$738.1K
$645.9K – $861.2K
NOI $51,670 @ 7.0% cap · market cap 7.13%
Second Best
Mixed Use
$650.6K
$569.3K – $759.0K
NOI $45,540 @ 7.0% cap · market cap 6.28%
Theoretical Best
Office A
$1.52M
$1.33M – $1.77M
NOI $106,338 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
498
Businesses Nearby
Explore this area
Business Placement
Demographics for 60102, IL
31,959
Population
12,076
Households
2.6
Avg Household Size
42
Median Age
43%
College-Educated
95%
High-School Grad
15.8 sq mi
ZIP Area
2,023
Density / Sq Mi
$128,070
Median Household Income
$59,484
Median Earnings
$1,826
Median Rent
$320,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 1902 building with restaurant infrastructure, dining space, gaming room, basement area, and two upper-level apartments.
Where is this mixed-use property located?
The property is located at 205 S Main St Algonquin, IL.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 4,400‑square‑foot mixed‑use building constructed in 1902; Restaurant and bar configuration with seating for 90+ guests; Dedicated video gaming room and basement space
