1430-1440 Miner St
Des Plaines, IL 60016
Retail Property For Sale

33 Realty's pleased to present for sale a value add mixed use opportunity at 1430-1440 Miner St in Des Plaines, IL. Consisting of 4 apartments and 4 retail storefronts (2 are occupied by restaurant) the property's extremely well located in downtown Des Plaines across the street from the train station and adjacent to both Metropolitan Square and City Hall. The three commercial spaces all have single net leases and have the following lease terms:
-Trend Hair Salon - lease expires 09/30/2028
-Pho Dunggia Restaurant - lease expires 12/30/2029
-Uncork Unwind Wine Shop - lease expires 06/30/2023
The property's fully occupied and leased at below market rents, presenting a rare available and excellent opportunity to add value with rent increases over time to the commercial tenants and immiedate strategic renovation of the apartment units. Zoned for 4 stories, there's a real opportunity to build an additional 2 floors of apartments above. The building's surrounded by new development including Class A apartments and just across the street from the classic Des Plaines Theater, which was purchased by the village and underwent $6M renovation in 2022.
Highlights:
Prime Location in Downtown Des Plaines
Value Add Opportunity
Recent Succesful Property Tax Appeal
Across Street from Train Station
New Hot Water Tank in 2024
New Double Pane Windows in 2017
15 Rear Parking Spaces
New Weil-McClain Boiler in 2015
Transit Oriented Location
New Rubber Membrane Roof in 2014
Successful Restaurant Tenant
Surrounded by New Development
Hardwood Floors in Apartments
New Commercial Air Conditioning Unit
Zoned for 4 Stories
Paid Property Tax Attorney Fees Thru 2028
Adjacent to Civic Center/Police HQ
Basement Storage
New Cabinets in 2 Units
Tenants Pay Cooking Gas
Rear of Building Painted in 2023