518 W Main St 3,025 SF 75% Leased Retail Building Kirkland, IL 60146 $268,000 ($88.60/SF) 9.22% Cap Rate

Fully renovated mixed-use commercial property in the heart of downtown Kirkland, Illinois, offering a rare combination of multiple income streams, flexible commercial space, and value-add outdoor potential.
The ground floor features two separate commercial units, connected by a common door for flexibility while maintaining separate utilities for independent operation. The rear unit is currently operating as a laundromat, providing a stable, necessity-based business that supports consistent traffic and long-term reliability. The front unit offers prime street-facing exposure and is well suited for retail, office, café, restaurant, bar, gaming, salon, or professional services, subject to local approvals.
Above, the property includes two fully occupied residential apartments, delivering immediate and consistent rental income.
The property is currently generating approximately $3,300 per month in income, with substantial upside. The front commercial unit presents an estimated rental opportunity of $1,000 per month, bringing the projected total income to approximately $4,300 per month.
In addition, the property includes two fenced-in lots, creating a unique opportunity to expand or enhance the commercial use of the front unit. These outdoor spaces could complement a variety of business concepts, including a beer garden, daycare outdoor area, event or party rental venue, patio expansion, or additional service-based uses, subject to local approvals.
The property also benefits from on-site parking accessible via the rear alley, along with full handicap accessibility, providing convenience for customers and tenants while supporting a wide range of commercial uses.
Located in a community of approximately 2,000 residents, this property benefits from a central downtown position with steady daily traffic and strong visibility. With renovations complete, diversified income streams, and additional land for future use, this is a turnkey investment with both immediate cash flow and long-term upside potential.