509 Main StWest Dundee, IL 60118

For Sale
$410,000

Prime location, high rental income.

Overview

Added:
Dec 11, 2024
Days on market:
94
This attractive mixed-use property, located at 509 W Main St, West Dundee, IL 60118, presents a compelling investment opportunity. The 2,248 square foot building, constructed in 1891 and renovated in 2017, sits on a 0.21-acre lot and boasts 18 parking spaces. Zoned for general commercial use, it offers a blend of residential and commercial space. The first floor encompasses 1,124 square feet of office space, currently generating $2,700 per month in rental income (or suitable for owner-occupancy). The second floor features apartments generating $1,550 per month in short-term rental income. The property's high visibility on Route 72/Main Street, adjacent to Grafelman Park Tennis Courts, ensures strong tenant demand. For owner-occupied purchases, SBA 504 financing is available. The estimated monthly payment (PITI), including principal, interest, taxes, and insurance, is approximately $3,003 (with an approximate $2,300 P&I payment, $561 in property taxes, and $142 in insurance). This two-story building offers a unique chance to combine business operations with lucrative rental income streams, making it an ideal investment for both owner-users and investors. The property features one building with a total of 2,248 square feet of net rentable space.

Highlights

  • SBA 504 financing available for owner-occupied purchase.
  • Mixed-use property with high visibility on Route 72/Main Street in West Dundee, IL, near Grafelman Park Tennis Courts.
  • First-floor office space: 1,124 square feet, potential for $2,700/month rental income.
  • Second-floor apartments generate $1,550/month in short-term rental income.
  • Estimated PITI: $3,003/month.

Property Details for 509 Main St

Property type
Multifamily properties, Other office properties
Square Feet
2,248 SF
Year Built/Renovated
1891/2017
Buildings
1
Stories
2
Lot Size (sq. ft)
9,148 SF

Location Insight

City
West Dundee
County
Kane
State
Illinois
Latitude
42.0978577
Longitude
-88.2832136
509 Main St, West Dundee, Illinois

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509 Main St
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