Market Square | 7 N High St
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Market Square 7 N High St
38,000 SF Vacant Office Building Belleville, IL 62220 $1,700,000 ($45/SF)
Executive Summary
A very well maintained 4 story building at the center of Belleville, IL, steps from the County Courthouse. The tallest building in the area allows for a AT&T cell tower on the roof. The Buyer could sell these rights for $550,000 at Closing and use the money as their down payment, plus have extra for improvements.
This Broker would convert the 7 N High building to a boutique Hotel. An innovative idea to use the adjacent building (25 E Main) for the lobby, restaurant, and bar, while dedicating all of 7 N High to hotel rooms, could yield a room count between 60 and 72.
A lot of upside with this building.
Tuckpointing, electric and plumbing all done in 1993. Elevator, roof and HVAC units also done at that time.
This Broker would convert the 7 N High building to a boutique Hotel. An innovative idea to use the adjacent building (25 E Main) for the lobby, restaurant, and bar, while dedicating all of 7 N High to hotel rooms, could yield a room count between 60 and 72.
A lot of upside with this building.
Tuckpointing, electric and plumbing all done in 1993. Elevator, roof and HVAC units also done at that time.
Property Facts
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Office
Property Subtype
Building Size
38,000 SF
Building Class
C
Year Built/Renovated
1910/1992
Price
$1,700,000
Price Per SF
$45
Percent Leased
Vacant
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
7,300 SF
Slab To Slab
15’
Building FAR
2.08
Land Acres
0.42 AC
Zoning
C-2 - Commercial
Parking
72 Spaces (1.89 Spaces per 1,000 SF Leased)
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Walk Score ®
Very Walkable (88)
PROPERTY TAXES
| Parcel Number | 08-21.0-439-028 | Improvements Assessment | $257,037 |
| Land Assessment | $17,338 | Total Assessment | $274,375 |
PROPERTY TAXES
Parcel Number
08-21.0-439-028
Land Assessment
$17,338
Improvements Assessment
$257,037
Total Assessment
$274,375
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Terry Heimann - Gateway Commercial Real Estate
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Market Square | 7 N High St
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