1009 Laraway RdNew Lenox, IL 60451

Property Details for 1009 Laraway Rd

Lot size

1.89 AC

Property type

Other commercial real estate

APN

15-08-29-405-056

APU

150829405056

Description

This exceptional investment opportunity presents a 21,800-square-foot, single-story building situated on an 82,328-square-foot lot in New Lenox, Illinois (APN: 1508294050560000). Currently operating as a well-established bowling alley with a long-term lease in place, this property offers significant upside potential. Located at 1009 W Laraway Rd, 60451, the building boasts high visibility due to its proximity to a fully leased strip center and its location on Laraway Road, which is undergoing expansion to a four-lane highway. The property includes approximately 50 parking spaces. The asking price is $1,600,000, translating to $73.39 per square foot. The building is zoned C-3. Exterior maintenance is handled by the seller, while the tenant is responsible for interior upkeep and parking lot maintenance. The current lease is transferable as part of the sale. The estimated rebuilding cost is approximately $4.6 million at $200 per square foot, highlighting the significant value of this established property. This is an ideal investment for those seeking a stable, long-term tenant and a prime location with excellent growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $28,755,528

  Hospitality

  $26,339,908

  Educational

  $21,914,494

  Medical

  $22,668,168

  Retail

  $34,089,216

Location Insight

City

New Lenox

County

Will

State

Illinois

Latitude

41.4836

Longitude

-87.9856

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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