318 3Rd St Geneva, IL 60134
- Commercial real estate
- 2,229 SF
- 0.18 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 318 3Rd St
- Year built
- 1918
- Lot size
- 0.18 lot acres
- Property size
- 2,229 SF
- Property type
- Commercial real estate
- APN
- 12-03-460-009
- APU
- 1203460009
Description
This exceptional 6,660-square-foot commercial property is located at 318 S 3rd Street in the heart of Geneva, Illinois, a highly desirable dining, shopping, and entertainment destination. Completely renovated and expanded in 2000 by Hogan Design & Construction, this building boasts superior quality and attention to detail. The property features a fully updated mechanical system (HVAC/AC, plumbing, electrical, and roof), all less than five years old. A rare find in downtown Geneva, a three-level elevator services all floors. Additional key features include a state-of-the-art sound system, a sprinkler system, and full ADA compliance. The building offers three private meeting rooms, an event room, and four public restrooms. Two outdoor patio spaces and professionally landscaped gardens enhance the property's appeal. A chef's dream commercial kitchen is equipped with an 18-foot industrial hood, walk-in freezer/refrigeration, and ample storage. The expansive basement includes elevator access, exterior access, a food-grade storage area, a breakroom, and a draught system. A highly sought-after second-floor event space provides additional seating capacity for parties, gatherings, or other events. This turnkey property presents a unique opportunity to establish a thriving business in Geneva, consistently ranked among the best communities in the western suburbs. All major renovations have been completed, allowing a seamless transition for the new owner.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $375,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $440,000
- 6.5%
- $475,000
- 7%
- $420,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $460,000
- Geo Method
- $475,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $460,000
- Retail
- $480,000
- Mixed-Use
- $410,000
- Hospitality
- $435,000
- Educational
- $430,000
- Residential Income
- $440,000
- Energy
- $400,000
- Income-Based Land
- $390,000
- Food Service
- $360,000
Location Insight
- Map
- Local Demand
- City
- Geneva
- County
- Kane
- State
- Illinois
- Longitude
- -88.3091
- Latitude
- 41.8842
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA