825 State St Geneva, IL 60134

Property Details for 825 State St

Year built

1973

Lot size

0.33 lot acres

Property size

13,731 SF

Property type

Office Properties & Spaces

APN

12-03-329-004

APU

1203329004

Description

Exceptional investment opportunity in downtown Geneva, Illinois, featuring two buildings totaling 15,071 square feet on a 14,355 square foot lot. This Class B property boasts 37 units with 33 tenants, achieving a 94% occupancy rate and a strong 7.36% cap rate, generating a net operating income (NOI) of $163,688. The asking price is $2,225,000, translating to $147.63 per square foot. Built in 1973 and 1920, the two-story buildings are situated on a prime corner lot at a well-lit intersection on State Highway 38, experiencing over 35,000 vehicles daily. The property includes 38 parking spaces and is zoned B-2. Tenants include a mix of single-office users and larger businesses, with many enjoying long-term leases and opportunities for rental increases. One building houses 33 tenants, including established businesses like Huntington Learning Center, Midwest Grading, and Hemming & Sylvester Real Estate. The second building features two tenants, one with a commercial office on the main floor and residential space upstairs. This property offers excellent proximity to Geneva's vibrant downtown area, known for its shopping, dining, and recreational amenities. The gross lease structure simplifies management. Financial details are available upon request.

Location Insight

City

Geneva

County

Kane

State

Illinois

Longitude

-88.3148

Latitude

41.8891

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments