1187 Farnsworth Ave Aurora, IL 60505-2067

Property Details for 1187 Farnsworth Ave

Year built

1982

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.90 lot acres

Property size

21,525 SF

Property type

Commercial real estate

APN

15-13-101-023

APU

1513101023

Description

This exceptional mixed-use investment property, located at 1187 N Farnsworth Ave, Aurora, IL 60505, presents a compelling opportunity. The 2-story building, constructed in 1982, sits on a 39,204 sq ft lot and boasts a prime corner location at the high-traffic intersection of Farnsworth and Indian Trail Avenues. Benefitting from exceptional visibility, the property is strategically positioned adjacent to McDonald's and across from Walgreens. Farnsworth Avenue sees 28,800 vehicles daily, while Indian Trail sees 14,400, ensuring consistent exposure. The property comprises 8 retail units and 12 one-bedroom apartments, currently operating at 100% occupancy with 20 tenants on month-to-month leases. Generating a substantial rental income of $258,240 annually, the property boasts a Net Operating Income (NOI) of $199,801 for 2023, resulting in a 6.89% cap rate. The property includes 50 parking spaces and is zoned B-2. Recent improvements (2023) include asphalt repair, underground electrical cable replacement, roof repair, new stairs, and new electrical panels. Property taxes are $40,584 annually. Seller financing is available with a minimum 25% down payment. This well-maintained and managed property offers a high cap rate, high occupancy, and a strong potential for future growth. The APN is 1513101023.

Location Insight

City

Aurora

County

Kane

State

Illinois

Longitude

-88.2813

Latitude

41.7822

CBSA code

16980

CBSA name

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

Property Tax & Assessments