825 State StGeneva, IL 60134

For Sale
$2,225,000

High-yield, multi-tenant office buildings

Overview

Added:
Dec 11, 2024
Days on market:
93
Exceptional investment opportunity in downtown Geneva, Illinois, featuring two buildings totaling 15,071 square feet on a 14,355 square foot lot. This Class B property boasts 37 units with 33 tenants, achieving a 94% occupancy rate and a strong 7.36% cap rate, generating a net operating income (NOI) of $163,688. The asking price is $2,225,000, translating to $147.63 per square foot. Built in 1973 and 1920, the two-story buildings are situated on a prime corner lot at a well-lit intersection on State Highway 38, experiencing over 35,000 vehicles daily. The property includes 38 parking spaces and is zoned B-2. Tenants include a mix of single-office users and larger businesses, with many enjoying long-term leases and opportunities for rental increases. One building houses 33 tenants, including established businesses like Huntington Learning Center, Midwest Grading, and Hemming & Sylvester Real Estate. The second building features two tenants, one with a commercial office on the main floor and residential space upstairs. This property offers excellent proximity to Geneva's vibrant downtown area, known for its shopping, dining, and recreational amenities. The gross lease structure simplifies management. Financial details are available upon request.

Highlights

  • Exceptional investment opportunity: Two-building, 15,071 SF property on a 14,355 SF lot in downtown Geneva, IL.
  • High occupancy (94%) with strong NOI of $163,688 and a 7.36% cap rate.
  • Asking price: $2,225,000 ($147.63/SF).
  • Prime corner lot on State Highway 38 (35,000+ vehicles daily), with 38 parking spaces and B-2 zoning.
  • 37 units, 33 tenants, including established businesses, with many long-term leases.

Property Details for 825 State St

Property type
Other office properties, Medical offices
Square Feet
15,071 SF
Class
B
Buildings
2
Stories
2
Units
37

Location Insight

City
Geneva
County
Kane
State
Illinois
Latitude
41.888901455838
Longitude
-88.315099210029
825 State St, Geneva, Illinois

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825 State St
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