830 Lk St Addison, IL 60101-2050

Property Details for 830 Lk St

Year built

1964

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.66 lot acres

Property size

3,096 SF

Zone code

C

Property type

Commercial real estate

APN

03-20-116-042

APU

320116042

Description

This exceptional 3,129 square foot storefront, located at 830 W Lake Street in Addison, Illinois, presents a compelling investment opportunity. Situated on a 0.66-acre lot (28,750 square feet), this fee-simple property boasts a prime location along US Route 20, a major commercial corridor, ensuring high visibility and significant traffic counts averaging over 32,500 vehicles daily. The property, built in 1980, is currently vacant but was previously occupied on a month-to-month basis. It features a versatile B-3 Service Business District zoning, allowing for a variety of uses and significant redevelopment potential. The property's strategic location is further enhanced by its proximity to major roadways including IL Route 53, Interstate 355, and Interstate 290, as well as Metra stations and O'Hare International Airport. The surrounding area is densely populated with strong demographics, including over 76,500 residents within a 3-mile radius and an average household income exceeding $113,351. The property's location in DuPage County offers lower tax exposure compared to neighboring Cook County. This property is ideal for owner-users, investors seeking a lease opportunity, or developers looking for redevelopment potential in a thriving commercial area. The asking price is $725,000, with a price per square foot of $231.70 and a land value of $25.22 per square foot. The property consists of one two-story building. Numerous national retailers and local businesses in the immediate vicinity contribute to a robust consumer base.