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1626 W Colonial Pky 6,476 SF Office/Medical Condo Unit Offered at $475,000 in Inverness, IL 60067
EXECUTIVE SUMMARY
This 3 LEVEL 5,330 sq. ft. 2-story (plus finished lower level) professional office condo building is located in the prestigious Williamsburg Village, a comfortable commercial setting surrounded by park like landscaping, ponds, brick paver streets and a covered bridge. The property features an open entry foyer that provides access to all 3 levels. The first floor, is leased is 2,208sf features 6 private rooms, office area, reception area, large executive conference room with fireplace (can easily break into 2 private offices), and a washroom. The Second floor is 2,060sf & is leased, includes 11 private rooms & a washroom. The lower-level is 2,208sf & is partially leased. Small tenant on a MTM or buyer can occupy 550sf suite. Great opportunity for an owner/user who is tired of paying rent or an investor looking to lease office spaces with flexible configurations. Prime location across from Harper College, 5 minutes to I-90, 15 miles to O'Hare International Airport and 30 miles to Chicago Loop. 2023 (payable 2024) Real Estate Taxes are $22,000. Monthly association fees are $1,305 and includes exterior building maintenance and repairs, gutter cleaning, landscape services, snow removal services, pond maintenance, exterior painting, parking lot maintenance and repairs, sidewalk maintenance and repairs, common outside electrical, scavenger services, management fees, as well as attorney fees (RE Tax Protests).
PROPERTY FACTS
| Total Building Size | 6,476 SF | Typical Floor Size | 2,159 SF |
| Property Type | Office (Condo) | Year Built | 1984 |
| Building Class | C | Lot Size | 9.19 AC |
| Floors | 3 | Parking Ratio | 1.24/1,000 SF |
| Zoning | B-1, Inverness - Neighborhood Business District | ||
| Total Building Size | 6,476 SF |
| Property Type | Office (Condo) |
| Building Class | C |
| Floors | 3 |
| Typical Floor Size | 2,159 SF |
| Year Built | 1984 |
| Lot Size | 9.19 AC |
| Parking Ratio | 1.24/1,000 SF |
| Zoning | B-1, Inverness - Neighborhood Business District |
1 UNIT AVAILABLE
Unit 1
| Unit Size | 6,476 SF | Sale Type | Investment or Owner User |
| Price | $475,000 | Cap Rate | 4.35% |
| Price Per SF | $73.35 | NOI | $20,679 |
| Condo Use | Office/Medical | APN/Parcel ID | 02-28-301-068-1008 |
| Unit Size | 6,476 SF |
| Price | $475,000 |
| Price Per SF | $73.35 |
| Condo Use | Office/Medical |
| Sale Type | Investment or Owner User |
| Cap Rate | 4.35% |
| NOI | $20,679 |
| APN/Parcel ID | 02-28-301-068-1008 |
DESCRIPTION
Set in a park-like environment with flowing waterways and brick-paved roads and walkways; Located only minutes away from expressways, tollways, O'Hare International Airport and downtown Chicago; Lower level office space in the building.
SALE NOTES
Owner user with Tenant Income
MAJOR TENANT INFORMATION
| TENANT | SF OCCUPIED | LEASE END DATE |
|---|---|---|
| Pension Administrators Inc |
2,060 SF
|
August 2028
|
| Active Life Chiropractic |
2,208 SF
|
July 2028
|
| Lower Level Suite B |
250 SF
|
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|
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1626 W Colonial Pky
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