100-108 Railroad Avenue, Leland, IL 60531 (MLS # 11676534)

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Don't miss the opportunity to purchase this investment property downtown Leland. Current cash flow yields an incredible 12% cap rate. The property is made up of three buildings comprising 11,726 sf. Featuring 10 apartments 7 of which are leased (3 two bedroom and 4 one bedroom) as well as 3 retail spaces. Two of the apartments were just updated including flooring, kitchens/appliances and bathrooms. Two apartments have new windows as well. Past uses for first floor retail that could be revitalized include tea room with kitchen, beauty shop, dentists office and soda shop. The first floor can also be repurposed as office or a variety of other uses. There is potential for the right buyer to increase this to 17% with a fully leased building. Other recent improvements include two updated electrical panels, new porch in back and a new coin op washing machine. The electricity for the apartments is separately metered. The building is on boiler heat. One apartment has its own furnace with separately metered gas. Additional income comes from a coin operated washer and dryer. Call for a confidential rent roll.

DAYS ON MARKET 9 LAST UPDATED 11/25/2022
YEAR BUILT 1905 COMMUNITY Baker / Leland
COUNTY La Salle STATUS Active
PROPERTY TYPE(S) Commercial


ADDITIONAL DETAILS
AIR Window Unit(s)
AIR CONDITIONING Yes
AREA Baker / Leland
LOT DIMENSIONS 79.5X94.5X24.5X99X50X193
TAXES 4446
UTILITIES Circuit Breakers, Service - 201 to 600 Amps
MORTGAGE CALCULATOR
   

TOTAL MONTHLY PAYMENT

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SATELLITE VIEW



 
CONTACT US ABOUT 100-108 RAILROAD AVENUE
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Listed with Coldwell Banker Real Estate Group
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