215 W Elm
14,000 SF | 100% Leased | Office Building | Sycamore, IL 60178 | $895,000 ($64/SF) | 9.70% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $895,000
- Property Type
-
Office, Restaurant
- Square Feet
- 14,000 SF
- Price / Square Foot
- $64
Listing Contacts
Guzel Lubinski
Verified Profile
- Property Info
Property Overview
Golden Group Real Estate is proud to present a 14,000 square feet three-story plus lower level, multi-tenant office building located in the heart of the downtown Historic District of Sycamore, IL., which is about 60 miles west of Chicago. This historic property has lots of character and great location. The building consists of mostly executive office suites occupied by a variety of different business professionals. It's a great, value-add investment opportunity at 9.7% cap rate. There is a newly remodeled 2-bedroom apartment on the top floor and a salt cave on the lower level. The property is listed on the National Register of Historic Places and is exempt from ADA requirements. Sellers have done extensive renovations. The location is home to festivals and events going year round: Pumpkin Festival Parade Route, Annual Car Show, street dances, food events, and outdoor movies. The city of Sycamore is considering turning the block next to the building (Somonauk) into a permanent “Town Square” where more events and gatherings can take place. The building benefits rom the proximity to numerous restaurants, retail establishments, and government buildings: 12 restaurants/bar and grills (1-6 blocks), movie theatre (2 blocks), DeKalb County Courthouse (1 block), Library (2 blocks), post office (2 blocks) and others. Proximity to DeKalb County Courthouse makes it ideal for an attorney-owner-user or government professional. Due to its historic value, it can also be re-developed as a boutique hotel.
Property Details
- Class
- C
- Year Built/Renovated
- 1920/2022
- Stories
- 3
- Property Subtype
- Medical, Other Restaurants, Storefront Retail/Office
- Lot Size (sq. ft)
- 4,792 SF
Highlights
- 100% occupied historic downtown office investment opportunity at 9.7% cap rate
- Listed on the National Register of Historic Places, well-maintained and constantly updated
- Stable, reliable tenants, many have been there for 10 and more years
- Abundant parking: 2 free city parking lots and free bank parking
- Possible “Town Square” destination; vibrant and diverse neighborhood with lots going on
- Proximity to DeKalb County Courthouse makes it ideal for an attorney-owner-user or any type of government professional
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