Leased Retail Condo in West Chicago
No Longer Available For Sale
524 W. Main St.
West Chicago, IL 60185
1,150 SF
Commercial Condo
The Details
- 1,150 SF commercial condo
- New 5 year lease signed by a hair salon
- Rent (Year 1): $1,800/month
- Annual escalation of $50/month
- Part of 34,000 SF mixed-use building
- Close to West Chicago Metra Station
- Zoning: B-1, central business district
- Monthly Assessments: $115
- Taxes (2014): $5,665
- Also available as part of portfolio
Located near the West Chicago Metra Station, this 1,150 square foot commercial condo is part of a mixed-use building completed in 2004. The unit is currently rented to a salon under a new five-year lease. The condo will generate $21,600 of gross rent in the first year, and there are scheduled annual escalations. This is a great arm-chair opportunity for investors seeking deals in the western suburbs of Chicago.
Located in the western part of the East/West Corridor, West Chicago is a 15 square mile suburb with more than 27,600 residents. The city has worked to redevelop and restore its downtown area, creating a mixed-use district that is desirable for residents and businesses alike.