Three-Unit Retail Strip
For Sale
$360,000
58 N Locust Street, Manteno, IL 60950
Three storefront suites have individual restrooms, and two are occupied by tenants.
Property Size2,400 SF
Price / SF$150
Days on Market11
Property Features for 58 N Locust Street
General Information
Standard status
Active
Size
2,400 SF
Property subtype
Commercial
Zoning
COMMR
Occupancy
100%
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,244
Building Details
Building Size
2,400 SF
Year Built
1993
Buildings
1
Stories
1
Units
3
Construction
wood-frame
Tenancy
Multi
Listing Agency:
McColly Bennett Real Estate
Listed By:
Joseph Nugent · License #471010036
(815) 929-9381
Source:
Gogginrealestate
Added: Oct 15
Changed: Oct 23
Last Checked: Oct 23 at 5:45PM
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 McColly Bennett Real Estate
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Investment Insights
Based on property information with market context.
This 2,400-square-foot, single-story retail center in Manteno is configured as three 800-square-foot suites. Each unit has 20 feet of storefront frontage and a private restroom. The 60-by-40-foot building was constructed in 1993 with wood framing and brick and vinyl exterior finishes. A concrete parking area fronts the property.
Two tenants currently occupy the center: one uses 1,600 square feet and the other occupies 800 square feet. The property is on Route 50 and is zoned COMMR.
Two tenants currently occupy the center: one uses 1,600 square feet and the other occupies 800 square feet. The property is on Route 50 and is zoned COMMR.
Key Highlights
- 2,400‑square‑foot retail center on Route 50 in Manteno
- Three 800‑square‑foot suites, each with 20 feet of storefront frontage and a private restroom
- Two tenants occupy the property: one leases 1,600 square feet and the other occupies 800 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,144
Cap Rate
5.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,880
$362.9K
Cap Rate 7%
$259,200
$259.2K
Cap Rate 9%
$201,600
$201.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$28.8K $12.00/SF
− Vacancy
−$2.9K −$1.20/SF
EGI
$25.9K $10.80/SF
− OpEx
−$7.8K −$3.24/SF
NOI
$18.1K $7.56/SF
Area
Kankakee County, IL
Vacancy
10.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$362,880
Cap Rate 7%
$259,200
Cap Rate 9%
$201,600
Alternative Uses
Best Use
Retail
$259.2K
$226.8K – $302.4K
NOI $18,144 @ 7.0% cap · market cap 5.04%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.94M
$1.69M – $2.26M
NOI $135,531 @ 7.0% cap · market cap 37.65%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
449
Businesses Nearby
Explore this area
Business Placement
Demographics for 60950, IL
11,996
Population
5,243
Households
2.3
Avg Household Size
44
Median Age
22%
College-Educated
94%
High-School Grad
76.6 sq mi
ZIP Area
157
Density / Sq Mi
$87,848
Median Household Income
$54,034
Median Earnings
$1,008
Median Rent
$244,000
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Strip mall - Three storefront suites have individual restrooms, and two are occupied by tenants.
Where is this strip mall located?
The property is located at 58 N Locust Street Manteno, IL.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: 2,400‑square‑foot retail center on Route 50 in Manteno; Three 800‑square‑foot suites, each with 20 feet of storefront frontage and a private restroom; Two tenants occupy the property: one leases 1,600 square feet and the other occupies 800 square feet
