Current Use by Public Records
- Retail properties & Spaces
Property Details for 123 Us-12
- Year built
- 1970
- Property type
- Retail properties & Spaces
- Property subtype
- Mixed-use properties
Description
This exceptional mixed-use investment opportunity in Fox Lake, IL, presents a stabilized, fully occupied property with significant upside potential. The property consists of two buildings totaling 4,400 square feet of net rentable space, situated on a high-traffic section of Route 12, directly across from Watt's Marina on the Chain-O-Lakes. The main building is a two-story structure featuring approximately 1,560 square feet of ground-floor retail space and a spacious 1,200 square-foot, two-bedroom apartment on the upper level boasting stunning lake views. A separate building houses a smaller auto repair shop. Built in 1970 and extensively renovated in 2020 (gutted to the studs), the property boasts a strong 7.50% cap rate, generating a net operating income (NOI) of $30,000 annually. The property is currently comprised of three units, all under month-to-month leases, offering flexibility for future lease terms and rental adjustments. The property is zoned B3 and features a Lake County APN of 0509413012. This prime location, coupled with the recent renovations and strong cash flow, makes this an ideal investment for discerning buyers seeking a high-return, mixed-use asset in a desirable lakeside community. The property's address is 123 S US-12, Fox Lake, IL 60020.
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Location Insight
- Map
- Local Demand
- City
- Fox Lake
- County
- Lake
- State
- Illinois
- Longitude
- -88.1794
- Latitude
- 42.3893
