The property is comprised of (3) 2 bedroom units and(1) bedroom and (2) Commercial spaces that consists of (2) 1,400 square foot spaces. All 4 rental units have been recently renovated. The roof is 2 years old. The property is located in the Enterprise Zone The property is located on the corner of Belvidere and Powell Ave with Annual Average Daily Traffic of 21,600 . Great Value Add Opportunity and perfect for an owner/operator. The property is zoned B3 General Commercial and has a wide array of uses : Beauty Shop, Drug Store, Restaurant, Tobacco, Retail, Office. The property is less than 4 miles to I 94 and 2 miles to Rt 41. The city of Waukegan has a population of 89,184 Residence. With a median age of 32.5 both male and females. Median Household Income is 51,031. Current NOI is 24,394 with only the (4) rental units. Pro-forma NOI is 65,938 at a 15% Cap Rate with the 2800 square feet at $1.00 per square
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Property Details
Utilities
Heating
Cooling
Water
Sewer
Additional Information
Parking
10 Parking Spaces
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Listing History
02-22-2022
Listed at $430,000
07-30-2022
Price decreased by $25,000 to $405,000
09-01-2022
Status changed to Expired
Last Modified 9/1/22 12:05 AM
Nearby Transportation
Union Pacific North
0.9 mi
Hwy 41 North
2.4 mi
Hwy 41 South
2.6 mi
I 94 West
4.2 mi
I 94 East
4.3 mi
For More Information
(312) 528-9200
For more information about 802 Belvidere, Waukegan, IL 60085 contact Corcoran Urban Real Estate.
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Listing provided by Vylla Home
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