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111 S Lake St

16,972 SF Industrial Building Montgomery, IL 60538 $2,396,000 ($141/SF)

Investment Highlights

  • Multi-purpose refurbished commercial building....business friendly Montgomery....
  • Offices, conference rooms, warehousing, commercial kitchen....
  • High visibility location...IDOT 24,500 VPD...
  • Strategic location..on or close to major highways & transportation hubs...
  • Inside and outside storage areas....Enclosed & Garaged....
  • Owner user or investor....Motivated Selllers!!!....

Executive Summary

Baird & Warner Commercial Real Estate Brokerage is pleased to offer this multi-use property that has many professional office suites, conference rooms, large warehouse w/mezzanine, large commercial leased kitchen, inside/outside storage area and heavy power. Located on South Lake Street (a.k.a known as Route 31) on a two (2) acre Lot with substantive value-add potential and an excellent location amid numerous manufacturing and service sector businesses. Property is located in business friendly Montgomery, Illinois. The asset consists one and one half floors of well maintained professional office spaces and numerous amenities supporting the businesses that occupy the premises., and the total square footage is 16,972 square fee along wit about 500 (MOL) square foot covered shed There will be vacant space at the time of sale, presenting a new owner with significant upside through owner occupancy or leasing. The property is a Class B office/warehouse asset, highlighted by the many unique characteristics and uses, upgraded amenities and sufficient parking for employees and guests.
The property is well positioned Route 31 and a very short distance to the Reagan Tollway (I'88), exposing the property to high traffic counts exceeding 24,000 vehicles per day (IDOT). Nearby highways provide access to Downtown Aurora, Naperville, Chicago and Chicago O'Hare International Airport.
Montgomery and Aurora are considered fast growing west suburban suburban communities on the western edge of the Chicago metro area. The 5-mile radius surrounding 111 South Lake Street has a population in excess of 200,000 residents with an strong average household income above $100,000.

Financial Summary (Actual - 2023)

Annual Annual Per SF
Taxes $15,558 $0.92
Operating Expenses - -
Total Expenses $15,558 $0.92

Financial Summary (Actual - 2023)

Taxes
Annual $15,558
Annual Per SF $0.92
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $15,558
Annual Per SF $0.92

Property Facts

Price $2,396,000
Price Per SF $141
Sale Type Investment or Owner User
Property Type Industrial
Property Subtype
Service
  • Flex Showroom
  • General Retail Storefront Retail/Office
  • Office Telecom Hotel Data Hosting
Building Class C
Lot Size 2.14 AC
Rentable Building Area 16,972 SF
No. Stories 2
Year Built/Renovated 1975/2024
Tenancy Single
Parking Ratio 2.71/1,000 SF
Clear Ceiling Height 18 FT
No. Drive In / Grade-Level Doors 2

Amenities

  • 24 Hour Access
  • Bus Line
  • Commuter Rail
  • Conferencing Facility
  • Freezer (Space)
  • Mezzanine
  • Security System
  • Signage
  • Yard
  • Storage Space
  • Common Parts WC Facilities
  • Demised WC facilities
  • Monument Signage
  • Smoke Detector

Utilities

  • Lighting - Incandescent
  • Gas - Natural
  • Water - City
  • Heating - Gas

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15-32-402-008
Land Assessment
$78,037
Improvements Assessment
$121,943
Total Assessment
$199,980
Annual Taxes
$15,558 ($0.92/SF)
Tax Year
2023 Payable 2024

zoning

Zoning Code B-3 (Commercial)
B-3 (Commercial)
  • Listing ID: 33023090

  • Date on Market: 8/31/2024

  • Last Updated:

  • Address: 111 S Lake St, Montgomery, IL 60538

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