Mixed-Use Property with Auto
28 N Hainesville Road, Hainesville, IL 60030
For Sale
$925,000
Five residential units accompany commercial space used for automotive repair and frame work.
Property Size5,100 SF
Price / SF$181.37
Days on Market30
Property Features for 28 N Hainesville Road
General Information
Standard status
Size
Property subtype
Occupancy
Tenancy & Operations
Currently Operating
Tenant in Place
Real Estate Included
Additional Details
Road Access
Automotive Uses
Multifamily Units
Building Details
Year Built
Tenancy
Listing Agency:
RE/MAX SAWA
(877) 312-7292
Listed By:
Jesse Singh · License #475117365
(847) 606-3664
Source:
Helenoliveri
Added: Oct 9
Changed: Nov 6
Last Checked: Nov 6 at 1:53PM
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 SAWA
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Investment Insights
Based on property information with market context.
This mixed-use property combines five residential units with commercial space currently used for automotive repair and frame work. Two apartments are on the second floor, while three are on the first. The property was built in 1950 and is reported fully leased.
The corner parcel has frontage on Hainesville Road and West North Street in Hainesville, Illinois. A storage shed is also included.
The corner parcel has frontage on Hainesville Road and West North Street in Hainesville, Illinois. A storage shed is also included.
Key Highlights
- Five residential units across the first and second floors
- Commercial area currently used for automotive repair and frame work
- Corner location with frontage on Hainesville Road and West North Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,944
Cap Rate
6.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,880
$1.3M
Cap Rate 7%
$899,200
$899.2K
Cap Rate 9%
$699,378
$699.4K
Market Conditions
NOI Build-Up for 5,100 SF
Gross rent
$122.4K $24.00/SF
− Vacancy
−$8.0K −$1.56/SF
EGI
$114.4K $22.44/SF
− OpEx
−$51.5K −$10.10/SF
NOI
$62.9K $12.34/SF
Area
Lake County, IL
Vacancy
6.50%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,258,880
Cap Rate 7%
$899,200
Cap Rate 9%
$699,378
Alternative Uses
Best Use
Apartment 5plus
$899.2K
$786.8K – $1.05M
NOI $62,944 @ 7.0% cap · market cap 6.80%
Second Best
Mixed Use
$754.1K
$659.8K – $879.8K
NOI $52,785 @ 7.0% cap · market cap 5.71%
Theoretical Best
Office A
$1.76M
$1.54M – $2.05M
NOI $123,256 @ 7.0% cap · market cap 13.32%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 60030, IL
36,346
Population
15,006
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
26.8 sq mi
ZIP Area
1,356
Density / Sq Mi
$104,920
Median Household Income
$55,766
Median Earnings
$1,526
Median Rent
$276,800
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Mixed-use properties in Lake County, IL
Properties on Market for Mixed-use properties in Lake County
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Five residential units accompany commercial space used for automotive repair and frame work.
Where is this mixed-use property located?
The property is located at 28 N Hainesville Road Hainesville, IL.
What is the asking price?
The asking price for this property is $925,000.
What are key features of this property?
This property features: Five residential units across the first and second floors; Commercial area currently used for automotive repair and frame work; Corner location with frontage on Hainesville Road and West North Street
