101 Virginia StCrystal Lake, IL 60014

This exceptional investment opportunity presents a 23,088 square foot, two-story Class B office building situated on Route 14 in Crystal Lake, Illinois. Located at a signalized intersection, this multi-tenant property boasts a prominent location and features a strong anchor tenant, Chicago Title and Trust. The building, constructed in 1980, underwent a roof replacement in 2017 and offers mature landscaping and ample parking for 70 vehicles. The property includes 19,360 square feet of net rentable space, currently operating at a 10% cap rate with a 17.8% vacancy factor. A pro-forma analysis, incorporating a 5% vacancy factor, projects a significantly higher 12.2% cap rate and a net operating income (NOI) of $220,139. Tenants are responsible for electric heat and outlets, while the landlord covers air conditioning costs. Auxiliary electric baseboard heaters are installed throughout the building. The property sits on a 53,840 square foot lot and is zoned for office use. This is a compelling investment opportunity with significant upside potential. Financial details are available upon request. The property's APN is 1431476035.