Address
1775 Glenview Road, Glenview, IL
Price
$ 3,999,000
Property Attributes
  • MLS#11983387
  • TypeContingent
  • CountyCOOK
  • CityGlenview
  • AreaGlenview - Golf
  • Zip60025
  • StyleCommercial,Office
  • Year Built1962
  • Taxes$ 151067
  • Price$ 3,999,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage25811
  • Lot Size1.07 Acres
Data Source:
Midwest Real Estate Data (MRED)
Property Description

Prime investment opportunity in the heart of downtown Glenview. Colonial Court Professional Building is 82% leased to nine, long-term, medical tenants. Upon full stabilization (just two small vacant units), building is expected to operate at an 8.6% cap rate. There's opportunity to drive down some of the opex to increase the cap rate north of 9%. The building is meticulously maintained and in excellent condition. 63 onsite surface parking spaces offers easy access for tenants and patients. The premier location provides incredible visibility bolstered by heavy foot and vehicle traffic. Continued development to neighboring properties is sure further increase the value of this asset in the years to come. Call List Brokers for Offering Memorandum and Financials.

Price History
2/16/2024 Listed $3,999,000

General Features

Cooling Central Air
Construction Materials Brick
Year Built 1962
Electric Service - 101 to 200 Amps
Tenant Pays Electricity,Heat
Stories 2
Property SubType Medical,Office
Tax Year 2022
Current Use Commercial,Office
County Cook
Operating Expense 151067
Property Type Commercial Sale
Contingency Attorney/Inspection
Possible Use Commercial,Office and Research,Retail
Status Contingent
Directions Waukegan to Glenview Rd. West 2 blocks to building
City Glenview
Total Units 11
MLS Area Glenview / Golf
Lot Size Square Feet 46609
Street Name Glenview
Tax Annual Amount 151067
Additional Parcels Y/N No
Leasable Area 4119
Virtual Tour https://real.vision/1775-glenview-road?o=u
Days on Market 98
Standard Status Active Under Contract
Property Type Office/Tech

Interior Features

Street Suffix Road

Exterior Features

Building Area Total 25811
Lot Dimensions 247 X 182.46
Lot Size Acres 1.07
Exterior Brick

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Contingent Average in 60025

Price
AVG $810K
$4M
Taxes
AVG $13,653
$151,067
Visits
AVG 107
64
Data Provided by Inside Real Estate®
Year Built
AVG 1971
1962