109 Cary St Cary, IL 60013
- Commercial real estate
- 3,668 SF
- 0.13 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 109 Cary St
- Year built
- 1865
- Lot size
- 0.13 lot acres
- Property size
- 3,668 SF
- Property type
- Commercial real estate
- APN
- 19-13-279-008
Description
This stabilized multifamily investment property, located at 109 Cary St, Cary, IL 60013, presents a compelling opportunity. The 3,668 square foot, two-story building boasts seven units: two studios and five one-bedroom apartments. Currently operating at 100% occupancy (as of October 13, 2024), it generates a substantial net operating income (NOI) of $58,164, yielding a 6.65% cap rate. The asking price is $875,000, translating to $238.55 per square foot of net rentable area (3,100 sq ft). Built in 1865 and extensively renovated in 2022 (including new boiler and water heater), the property features a new roof, gutters, and resealed parking lot (all completed in 2024). Seven parking spaces are available on-site. The property sits on a 0.13-acre lot, zoned B-2, and is conveniently located just 200 feet from the Metra train station. Recent renovations include complete overhauls of several units in 2022 and 2023. An unfinished 408 sq ft basement offers potential for additional income generation. Tenants enjoy on-site laundry and select units feature balconies. Water and electricity are tenant-paid. This fee-simple ownership opportunity is ideal for a 1031 exchange.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Cary
- County
- McHenry
- State
- Illinois
- Longitude
- -88.2415634634
- Latitude
- 42.207790241995
