Downtown Office
For Sale
Contact for pricing
52 East Main Street, Lake Zurich, IL 60047
B2 Central Business District space with multiple offices, shared parking, and recently refreshed interior finishes.
Property Size2,443 SF
Price / SF$0.55
Days on Market1420
Property Features for 52 East Main Street
General Information
Standard status
Active
Size
2,443 SF
Total Parking Spaces
13
Zoning
OTHER
Taxes and HOA fees
Annual Taxes
$12,527
Building Details
Year Built
1940
Stories
1
Tenancy
Multi
Listing Agency:
RE/MAX Suburban
Listed By:
Cherie Smith Zurek · License #471003036
(847) 778-8618
Source:
Compass
Added: Nov 27, 2022
Changed: Oct 16
Last Checked: Oct 16 at 10:56AM
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
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Investment Insights
Based on property information with market context.
This office unit at 52 East Main Street includes a foyer, a large front office, three additional office rooms, and a utility/office area. The interior was recently painted in neutral tones, and the layout provides a combination of open reception space and private work areas. The property was built in 1940 and includes 13 shared parking places.
Located in downtown Lake Zurich, the property is in the B2 Central Business Downtown District. Restaurants, art studios, a florist shop, and a music store are nearby, with the Lake Zurich Village Hall, a park, and the lake within walking distance. The lessor pays for water, while tenants are responsible for air conditioning, electric, and gas.
Located in downtown Lake Zurich, the property is in the B2 Central Business Downtown District. Restaurants, art studios, a florist shop, and a music store are nearby, with the Lake Zurich Village Hall, a park, and the lake within walking distance. The lessor pays for water, while tenants are responsible for air conditioning, electric, and gas.
Key Highlights
- B2 Central Business Downtown District zoning
- Foyer measures 12.9X6.4
- Large front office measures 27.4 X 19.7
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,985
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,700
$499.7K
Cap Rate 7%
$356,929
$356.9K
Cap Rate 9%
$277,611
$277.6K
Market Conditions
NOI Build-Up for 2,443 SF
Gross rent
$36.6K $15.00/SF
− Vacancy
−$953 −$0.39/SF
EGI
$35.7K $14.61/SF
− OpEx
−$10.7K −$4.38/SF
NOI
$25.0K $10.23/SF
Area
Lake County, IL
Vacancy
2.60%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$499,700
Cap Rate 7%
$356,929
Cap Rate 9%
$277,611
Alternative Uses
Best Use
Office B
$481.2K
$421.1K – $561.4K
NOI $33,685 @ 7.0% cap · market cap 2,495.19%
Second Best
Retail
$356.9K
$312.3K – $416.4K
NOI $24,985 @ 7.0% cap · market cap 1,850.74%
Theoretical Best
Office A
$843.5K
$738.0K – $984.0K
NOI $59,042 @ 7.0% cap · market cap 4,373.48%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
Explore this area
Business Placement
Demographics for 60047, IL
43,944
Population
15,877
Households
2.8
Avg Household Size
43
Median Age
67%
College-Educated
97%
High-School Grad
34.9 sq mi
ZIP Area
1,259
Density / Sq Mi
$173,043
Median Household Income
$82,803
Median Earnings
$1,817
Median Rent
$510,000
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office units - B2 Central Business District space with multiple offices, shared parking, and recently refreshed interior finishes.
Where is this office units located?
The property is located at 52 East Main Street Lake Zurich, IL.
What are key features of this property?
This property features: B2 Central Business Downtown District zoning; Foyer measures 12.9X6.4; Large front office measures 27.4 X 19.7
