503 Westgate St Addison, IL 60101-4531
Property profile & analytics
503 Westgate St Addison, IL 60101-4531
- Industrial properties
- 7,525 SF
- 0.36 lot acres
Property ID
US28-2545854
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Maslon Armory / Gun Shop
- Dock and Door Pro Solutions (DDS) / Building Supply / General Contractor
- ALG PRODUCT LLC / Grocery & Convenience Store / Food Market
- Pro-Plastics / Factory / Production Facility
Property Details for 503 Westgate St
- Year built
- 1965
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.36 lot acres
- Property size
- 7,525 SF
- Zone code
- I
- Property type
- Industrial properties
- APN
- 03-33-108-001
- APU
- 333108001
Description
This exceptional 7,300 square foot building, situated on a 15,682 square foot lot in Addison, IL, presents a compelling investment opportunity. The property boasts a newer roof and a recently remodeled office space. Currently, five separate spaces are leased, ranging in size from 1,000 to 2,200 square feet. Each lease has a term ranging from one to five years. The building enjoys a strong annual gross income of $99,400, demonstrating its consistent revenue generation potential. Its strategic location offers convenient access to I-355, enhancing its appeal to a wide range of tenants. The seller is highly motivated, making this an attractive proposition for discerning investors seeking a well-maintained, income-producing asset in a prime location. The property's excellent condition, coupled with its strong lease portfolio and desirable location, makes it an ideal investment for those seeking immediate returns and long-term growth. The building's size and layout provide flexibility for a variety of uses, further enhancing its investment potential. This is a rare opportunity to acquire a high-performing commercial property in a thriving market. Don't miss out on this chance to secure a valuable addition to your investment portfolio.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $780,000
- ML approach
- $780,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $540,000
- 6.5%
- $500,000
- 7%
- $465,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $720,000
Market price range: $578k - $842k -
Alternative Use
- Use
- Estimation
- INDUSTRIAL (GENERAL)
- $680,000 Current use
- WAREHOUSE, STORAGE
- $785,000 Change: +15% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Addison
- County
- Dupage
- State
- Illinois
- Longitude
- -87.9933
- Latitude
- 41.9181
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$15,351
$48,340
$160,200
$208,540
-
$145,020
$480,600
$625,620
