1127 Dearborn Ave Aurora, IL 60505
- Commercial real estate
- 5,600 SF
- 0.15 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1127 Dearborn Ave
- Year built
- 1956
- Construction
- CONCRETE BLOCKS
- Lot size
- 0.15 lot acres
- Property size
- 5,600 SF
- Property type
- Commercial real estate
- APN
- 15-23-203-006
- APU
- 1523203006
Description
This exceptional 21,200 square foot building, located at 1127 Dearborn Avenue in Aurora, Illinois, presents a unique investment opportunity. Situated on the east side of Aurora, near Farnsworth Avenue and with convenient access to I-88, this three-unit structure boasts a rich history as a multi-tenant auto repair facility for many years. Each unit is well-suited for auto repair, body work, or similar automotive services. A paint booth is included within the building, adding significant value for potential automotive businesses. However, the versatility of this property extends beyond automotive uses. The spacious layout and ample square footage make it equally suitable for various industrial or warehouse operations. While the building would benefit from some cosmetic improvements and general maintenance ("TLC"), the substantial rental income potential is a key selling point. Projections indicate an annual rental income of approximately $150,000, representing a strong return on investment. This property is a rare find in a desirable location, offering significant upside for the right buyer. The building sits on a lot with no acreage listed. This is a prime opportunity to acquire a well-located, multi-unit building with significant income potential.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $560,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $745,000
- 6.5%
- $860,000
- 7%
- $775,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $710,000
- Geo Method
- $710,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $760,000
- Retail
- $805,000
- Mixed-Use
- $745,000
- Hospitality
- $825,000
- Educational
- $755,000
- Residential Income
- $845,000
- Energy
- $895,000
- Income-Based Land
- $735,000
- Food Service
- $905,000
Location Insight
- Map
- Local Demand
- City
- Aurora
- County
- Kane
- State
- Illinois
- Longitude
- -88.2875
- Latitude
- 41.767
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
