700 Lake St Mundelein, IL 60060

Property Details for 700 Lake St

Year built

1979

Construction

FRAME

Lot size

0.34 lot acres

Property size

18,216 SF

Property type

Office buildings

APN

10-24-405-069

APU

1024405069

Description

This exceptional mixed-use property, located at 700 N Lake Street in Mundelein, Illinois, presents a compelling investment opportunity. The two-story brick building boasts a substantial 26,595 square feet of space, strategically situated on a corner lot with convenient access to major roadways, Route 45 and Route 176, featuring curb cuts for easy ingress and egress. The first floor comprises three individual office suites, complete with shared public restrooms and a well-equipped kitchen area. The second floor mirrors this functionality, offering seven additional office suites and shared restrooms, ensuring ample space for tenants. Importantly, all units are currently leased, providing immediate and consistent rental income. Beyond the main floors, a lower level adds further versatility with a community room, two potential office suites, additional restrooms, and a dedicated storage room. Recent upgrades significantly enhance the property's value and appeal. These include a newer roof, newer windows, and brand new carpeting throughout the hallways and stairwells. The parking lot was also repaved in 2019, ensuring convenient and well-maintained parking for tenants and visitors. This fully leased, well-maintained property offers a strong return on investment with significant potential for future growth. The prime location and substantial square footage make this an attractive proposition for discerning investors seeking a stable and profitable addition to their portfolio. The asking price is $779,900.

Location Insight

City

Mundelein

County

Lake

State

Illinois

Longitude

-88.0044

Latitude

42.2741

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments