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Property profile & analytics
OFF-MARKET
Office Spaces

40 Nugent St Glenwood, IL 60425-1085

1.28 ac lot Built 2004
Individually Owned 13-yr Hold Free & Clear
Property ID
US28-2472895
Property summary
AI-generated overview

This exceptional 6,500 square foot ground floor condo is ideally situated in the heart of Glenwood, IL, at the northeast corner of Main and Nugent Streets. Its prime location offers unparalleled visibility and accessibility, directly adjacent to the Village Hall and Police Station, and conveniently located near the Homewood Metra Rail. This presents a unique opportunity for businesses seeking high foot traffic and convenient public transportation access. The space previously housed a barber college and offers a versatile layout adaptable to various business needs. The interior features a large reception area, two conference rooms, four bathrooms, a kitchen, a classroom, and ten private offices. The property's infrastructure is robust, including eight furnaces, four air conditioning units, and four 200-amp service electric panels, all zoned for efficient operation and energy management. The ample parking available further enhances the property's appeal. The building's three upper floors house luxury condominiums, providing a built-in customer base for businesses operating within this space. This adaptable space can be utilized as a single large unit or easily divided to suit specific requirements. This is a rare opportunity to acquire a highly visible and functional commercial space in a thriving community.

Property profile
Verified
Property type Office Spaces
Use group CONDOMINIUM OFFICES
Year built 2004
Lot 1.28 ac (55,757 SF)
APN 32-03-319-014-1003
UPID US28-2472895
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
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Comparable Approach Comparable
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Blend (final) Blend
by Request
Owner & transaction history
Old Second Natl Bk · 13 yrs held
Old Second Natl Bk
since 2012
3 recorded transactions
2012
Price N/A
2007
$1.2M
2007
$4.2M
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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