2929 Cook St Springfield, IL 62703

Property Details for 2929 Cook St

Lot size

3.34 lot acres

Property type

Commercial real estate

APN

14-36.0-176-017

APU

14360176017

Description

This exceptional Springfield, Illinois commercial property presents a lucrative investment opportunity. The portfolio comprises seven buildings situated across three lots, generating substantial monthly income. A significant portion of the property is leased to a school bus company under a long-term agreement with a 3% annual rent increase, currently yielding $13,878 per month. An additional lot, located on Dirksen Parkway, features a building with offices, restrooms, a kitchen, and a waiting area, along with ample paved parking and lighting. The front half of this lot is currently leased for $2,500 per month under a two-year agreement, while the rear portion houses two additional businesses generating $1,050 in monthly rent. A third vacant lot is available for future development or leasing. The total gross monthly income from all lots is $17,383, with most leases being net-net-net (NNN). Annual property taxes and insurance on the buildings total $1741 per month, resulting in a potential net annual income of $187,704. The property includes a 1,500 square foot gray house with two storage garages on Cook Street and a 1,620 square foot sales building on Dirksen Parkway. The property offers significant potential for increased income through leasing the vacant lot and additional space. This is a rare opportunity to acquire a well-established, high-income-producing commercial property in a prime Springfield location. Note: Lease agreements are subject to change and should be verified independently.