1623 Colonial Pkwy 7 Inverness, IL 60067-1222
This exceptional two-story retail building, located at 1623 Colonial Parkway in Inverness, Illinois, presents a compelling investment opportunity. Boasting 5,330 square feet, the property is situated on a highly visible lot across from Harper College and features ample parking (3 spaces per 1,000 sq ft). The building, constructed in 1983, is zoned B-1/Business B2 and offers a versatile layout. The first floor encompasses 2,085 square feet, currently owner-occupied, while the second floor (1,160 sq ft) is leased. An additional 2,085 square feet of leased space is available in the fully finished lower level. Interior features include several private offices, a large executive conference room, four washrooms, and a kitchenette. The asking price is $425,000, translating to $80 per square foot. Currently, the occupancy rate is 25%, with a modified lease in place for two years. The property benefits from a convenient location, less than two miles from the I-90/Roselle Road interchange and less than five miles from Woodfield Mall. Additional features include a natural gas generator and a picturesque pond view. This property offers significant potential for growth and return on investment. The building is serviced by ComEd (200-amp service).
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2022Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
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Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.