3645 Union Ave

25,713 SF 100% Leased Industrial Building Steger, IL 60475 $1,250,000 ($49/SF) 8% Cap Rate

Investment Highlights

  • Income Producing Property of 5+ Acres
  • Room to Expand, Multiple Tenants, Low Will County Taxes

Executive Summary

5.19 acres +/- site with 369’ of frontage on Union Ave.
Income Producing Property -w- Potential for Additional Income
Gross Income $120,000 annual / Net $103,000.00 Cap Rate 8%
As of Nov 2024 Current Tenants w Leases & 90 day termination notice if Buyer is owner user.
Front Building North Section 4,300 sf $3,000.00 month + Utilities , Auto Repair
Mid Section 6,500 sf $2,000.00 month + Utilities
South Section 2,100 sf $1,000.00 month + Utilities
Rear Building 7,500 sf $4,000month + Utilities, Auto Works
Additional Building to North of Main Building
needs major renovations and or tear down 2,685 sf
Total Square Feet under roof between 3 Buildings 25,713 sf
Electric 200 Amp & 100 amp services / City Water & Sewer
PROPERTY HIGHLIGHTS
8% Cap Rate / Low Will County Taxes
$10,000.00 + Monthly Income
Main Building features 15,528 sf with various ceiling heights from 10’6” to 18’9”
Gas Heat and floor drain.
North Section Measures 64’x61’ with CH of 18’9” and DID: 1-16’x16’
Middle Section Measures 182’ x 100’ with CH of 10’8” and 3 DID: 1- 10W x 12’6” T / 1- 12W x 10’T / 1-12’W x 11’T
South Section Measures 60 x 40.73 with CH of 10’6”
East Bay Measures 20’ x 60’ with CH of 11’3” DID: 1- 10’W x 12’ T ( Owners Use)
East Building 7,500 sf Measures 60 x 125 used as a Boat / Auto Repair facility
CH 15’6” 4 DID: 10’W x 12’T 2 DID: 22’W x 14’T 2 DID 10’ W x 14’T Leased $4,000.00 Monthly
Additional Building to North of Main Building Needs major renovations and or tear down 2,685 sf
Total Square Feet under roof between 3 Buildings 25,713 sf
Zoning B-3 City Water & Sewer Built in 1963 Real Estate Tax 2023 $16,207.56

Financial Summary (Actual - 2023)

Annual Annual Per SF
Taxes $16,500 $0.69
Operating Expenses - -
Total Expenses $16,500 $0.69

Property Facts

Price $1,250,000
Price Per SF $49
Sale Type Investment or Owner User
Cap Rate 8%
Property Type Industrial
Property Subtype
Warehouse
  • General Retail Auto Dealership
  • General Retail Auto Repair
  • General Retail Storefront Retail/Office
Building Class C
Lot Size 5.30 AC
Rentable Building Area 25,713 SF
No. Stories 1
Year Built 1963
Parking Ratio 0.58/1,000 SF
Clear Ceiling Height 18’
No. Drive In / Grade-Level Doors 11

Amenities

  • Signage

Utilities

  • Lighting - Fluorescent
  • Gas - Natural
  • Water - City
  • Sewer - City
  • Heating - Gas

PROPERTY TAXES

zoning

Zoning Code B-3 (B-3 Service-Wholesale-Retail.)
  • Listing ID: 34172053

  • Date on Market: 12/12/2024

  • Last Updated:

  • Address: 3645 Union Ave, Steger, IL 60475