Property profile

1329 North Lake St Aurora, IL 60506

FOR SALE
Apartment buildings
Property ID
US28-3303936
28,782 SF 2.18 ac lot Built 1920
Entity Owned 4-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 27,000 square foot commercial land parcel is ideally situated at the southeast corner of North Lake Street (IL Route 31) and Sullivan Road in Aurora, Illinois, 60506. Boasting a prime location with high visibility, this property benefits from approximately 33,000+ vehicles passing daily, thanks to its position on a signalized intersection of two major thoroughfares. The B-2 zoning, with City of Aurora Planning Department approval pending final plan submission, makes it perfect for fast-food or retail development. This site enjoys exceptional access to major transportation arteries, including less than a half-mile proximity to the I-88 & Route 31 interchange, which sees over 82,000 vehicles daily. The property's strategic location places it adjacent to the expansive 80-acre Ascension Mercy Medical Campus (370+ beds) and the Illinois Social Security Office, ensuring a consistent flow of potential customers. Furthermore, the densely populated area, with over 112,000 residents within a 3-mile radius and Aurora's overall population exceeding 180,000, presents a substantial and readily accessible market. The land is priced at $22 per square foot. This is a rare opportunity to acquire a high-traffic, strategically located commercial lot in a thriving Illinois city.

Property profile

Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1920
Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)
Total area 28,782 SF
Lot 2.18 ac (94,960 SF)
APN 15-10-352-045
UPID US28-3303936

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • State Government Office

Location

1329 North Lake St Aurora, IL 60506
Aurora metro Census 852905 CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$2.60M
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$2.67M

Owner & transaction history

since 2021
Last sale
$2.3M
3 recorded transactions
2021
$2.3M
1969
Price N/A
1969
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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