209 Lincolnway North Aurora, IL 60542
- Retail properties
- 39,500 SF
- 3.74 lot acres
Current Use by Public Records
- Retail properties
Property Details for 209 Lincolnway
- Year built
- 1961
- Lot size
- 3.74 lot acres
- Property size
- 39,500 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
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.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- North Aurora
- County
- Kane
- State
- Illinois
- Longitude
- -88.3244
- Latitude
- 41.7978
