The Budnik Building 400 Main St 6,750 SF 100% Leased Retail Building Lemont, IL 60439 For Sale 6% Cap Rate

The Budnik Building at 400 Main St, Lemont, IL offers a rare opportunity to acquire a stabilized, landmark mixed-use asset in the heart of Downtown Lemont. Built in the 1920s and gut rehabbed between 2020 and 2021, the property consists of a 6,750 SF, three-story building with 100% occupancy across 8 total tenants, including 2 commercial tenants and 6 residential units.
The residential unit mix includes one 3-bedroom/1-bath unit, one 2-bedroom/1-bath unit, two studio units, and two 1-bedroom/1-bath units. The commercial leases are structured as modified gross and run through 2030, providing stable income from the street-level tenancy.
Offered at an attractive 6% cap rate, the property also presents a value-add opportunity through the residential leases, with potential to bring rents closer to current Downtown Lemont market levels. Zoned Downtown District (DD), the building sits on a prime hard corner less than three blocks from the Lemont Metra Station.
With its historic character, strong occupancy, recent renovation, and irreplaceable downtown location, the Budnik Building is a standout investment opportunity in one of Lemont’s most recognizable downtown properties.