712 E Kensington RD Save Request In-Person Tour Request Virtual Tour
Arlington Heights,IL 60004
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 6,288 sqft
Price per Sqft $116
MLS Listing ID 12123398
Year Built 1923
Annual Tax Amount $16,874
Tax Year 2022
Property Description
Fully Rented Income-Producing Mixed-Use Property in Prime Location Fully occupied, mixed-use building offers an excellent investment and income producing opportunity, has tons of potentials in a thriving area. The two-story property 4,800 sq ft above ground and is situated on an approximately 10,000 sq ft lot. Positioned amidst new developments residential and commercial developments, across the street from Marianos and brand new condominiums, the building is fully occupied and benefits from its prime location. The first floor has two commercial units, each approximately 1,260 sq ft, with a combined area of 2,600 sq ft. These units underwent a comprehensive top-down renovation in 2019, which included rebuild to an open concept space, replacement of HVAC systems, A/C units, water heaters, floorings, walls, electrical, led lighting systems, rebuild bathrooms, plumbing, all new windows, expanded store front windows, new doors and much more. Each unit is individually metered for gas and electric utilities. The second floor has two fully leased 3-bedroom apartments. Currently on month-to-month leases. Apartments are individually metered for gas and electric services. The property also includes a full basement with potential for additional lower-level space or storage. Dedicated private parking area for 6-12 cars, available for both tenants and customers. Additional free parking is available on South Hickory Avenue. The building is located at the highly sought-after neighborhood directly across from the busy Mariano's grocery store and adjacent to the new Arlington Market subdivision. The neighborhood is experiencing a surge in development, including newer multi-family residential units and brand-new retail/residential condominiums across the street on Hickory Ave, indicating a promising and rapidly evolving locale. Please refrain from disturbing the tenants. This property is broker-owned and offers easy access to NW Highway. Investors are welcome, with seller financing available for qualified buyers at 7% for 3 years, contact listing broker for details regarding financing. Don't miss out on this incredible opportunity to invest in a prime, fully rented, income-producing property!
Location
State IL
County Cook
Area Arlington Heights
Zoning COMMR
Interior
Cooling Central Air,Central Individual
Building
Dwelling Type Mixed Use
Structure Type Brick