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    209 Lincolnway North Aurora, IL 60542

    Sponsored
    For Sale
    $2,420,000

    Mixed-use investment opportunity

    Property size:
    39,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional mixed-use investment property, located at 209-223 S Lincolnway in North Aurora, IL 60542, presents a compelling opportunity for investors seeking a diversified portfolio. The property encompasses 39,500 square feet across seven buildings situated on a 3.74-acre lot, just one block north of the I-88/Route 31 interchange. The property features a mix of commercial spaces and two residential apartment units within one building, along with a separate warehouse. The six commercial buildings are currently occupied by a number of stable tenants. This Class B property boasts a strong NOI of $169,257, resulting in a 7.00% cap rate, and is offered at $2,420,000 ($61.27/sq ft). Built in 1961, the property is zoned B-3, Central Business District, and benefits from excellent demographics, with nearly 30,000 households within a three-mile radius. The strategic location provides easy access to major transportation routes and is surrounded by numerous national restaurants and a large hospital campus. Additional buildable lots are available for purchase separately or as a package, offering significant potential for future development and expansion, with views of the Fox River. This multi-building complex presents a rare opportunity to acquire a well-established, income-producing asset with significant upside potential. The property includes nine units in total.

    Property Features for 209 Lincolnway

    General Information

    Property type
    Multifamily properties
    Square Feet
    39,500 SF
    Class
    B
    Lot Size
    162,914 SF

    Building Details

    Year Built
    1961
    Units
    9

    HighLights

    • Multiple stable tenants generating strong cash flow.
    • Adjacent buildable lots available for purchase separately or as a package.
    • Seven‑building complex: six commercial buildings, one with two residential units, and a separate warehouse; totaling 39,500 square feet on a 3.74‑acre lot.
    • Additional lots offer potential for commercial or multifamily development with Fox River views.
    • Excellent location near I‑88/Route 31 interchange, numerous national restaurants, and a major hospital.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    North Aurora
    County
    Kane
    State
    Illinois
    Longitude
    -88.3244162
    Latitude
    41.797777

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    FAQs

    What type of property is this?
    Multifamily property - Mixed-use investment opportunity
    Where is this multifamily property located?
    The property is located at 209 Lincolnway North Aurora, IL.
    What is the asking price?
    The asking price for this property is $2,420,000.
    What are key features of this property?
    This property features: Multiple stable tenants generating strong cash flow.; Adjacent buildable lots available for purchase separately or as a package.; Seven-building complex: six commercial buildings, one with two residential units, and a separate warehouse; totaling 39,500 square feet on a 3.74-acre lot.
    Request Owner's contact information
    209 Lincolnway North Aurora, IL 60542
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    North Aurora, IL 60542
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    209 Lincolnway North Aurora, IL 60542
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