Mixed-Use Retail Building with
218- 220 S Lake Street Aurora, IL 60506
218- 220 S Lake Street, Aurora, IL, 60506
$340,000
For Sale
$340,000
Two-story mixed-use property with a main-level storefront, accessible walk-out basement, and a 1-bedroom apartment above.
Property Size924 SF
Price / SF$367.97
Days on Market155
Property Features for 218- 220 S Lake Street
General Information
- Standard status
- Active
- Size
- 924 SF
- Property subtype
- Mixed Use
Building Details
- Year Built
- 1900
Listing agency
Aurora
(630) 551-8130
Listed by
Keller Williams Innovate
(630) 551-8130
Source
Xome
Added: Feb 16 Updated: Jul 21 at 7:29AM Checked: Jul 21 at 7:29AM
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 Aurora
Investment Insights
Based on property information with market context.
Located at 218–220 S Lake Street in Aurora, this mixed-use, two-story commercial property includes a main-level storefront, a fully accessible walk-out basement, and a second-floor 1-bedroom apartment with a private entrance. The basement level can support flexible back-of-house uses such as storage, studio space, or a workshop setup. The second floor is described as bright and well maintained, providing separate residential access for an owner-occupant or rental use.
A major practical feature is the property’s large private parking lot, offering approximately 15 parking spaces. The listing also notes a second parcel number (15-21-476-008) that is currently being used as the parking lot for the existing commercial building, with taxes for the second parcel listed at $430.66.
A major practical feature is the property’s large private parking lot, offering approximately 15 parking spaces. The listing also notes a second parcel number (15-21-476-008) that is currently being used as the parking lot for the existing commercial building, with taxes for the second parcel listed at $430.66.
Key Highlights
- Two‑story mixed‑use building with a main‑level commercial storefront and a 1‑bedroom apartment on the second floor
- Main‑level storefront along S Lake St with steady traffic and suited for retail, office, or service use
- Walk‑out basement is fully accessible for storage, studio, or workshop space
Local Financial Insights For Office B
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 | $22.2k | $24.00 |
| − Vacancy | −$4.0k | −$4.32 |
| EGI | $18.2k | $19.68 |
| − OpEx | −$4.5k | −$4.92 |
| NOI | $13.6k | $14.76 |
924 SF · lease $24.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$194.8K
$170.5K – $227.3K
NOI $13,638 @ 7.0% cap · market cap 4.01%
Second Best
Retail
$128.2K
$112.2K – $149.6K
NOI $8,974 @ 7.0% cap · market cap 2.64%
Theoretical Best
Office A
$264.5K
$231.5K – $308.6K
NOI $18,517 @ 7.0% cap · market cap 5.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Storefront property - Two-story mixed-use property with a main-level storefront, accessible walk-out basement, and a 1-bedroom apartment above.
Where is this storefront property located?
The property is located at 218- 220 S Lake Street Aurora, IL.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: Two‑story mixed‑use building with a main‑level commercial storefront and a 1‑bedroom apartment on the second floor; Main‑level storefront along S Lake St with steady traffic and suited for retail, office, or service use; Walk‑out basement is fully accessible for storage, studio, or workshop space
