$3,650,000
$3,999,000
8.7%For more information regarding the value of a property, please contact us for a free consultation.
1775 Glenview RD Glenview, IL 60025
25,811 SqFt
Key Details
Sold Price $3,650,000
Property Type Commercial
Sub Type Office/Tech
Listing Status Sold
Purchase Type For Sale
Square Footage 25,811 sqft
Price per Sqft $141
MLS Listing ID 11983387
Sold Date 05/16/24
Year Built 1962
Annual Tax Amount $151,067
Tax Year 2022
Lot Size 1.070 Acres
Lot Dimensions 247 X 182.46
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.
Location
State IL
County Cook
Area Glenview / Golf
Interior
Cooling Central Air
Fireplace N
Building
Level or Stories 2
Structure Type Brick
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© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Bought with Carlo Santucci • Avalon Realty Associates, LLC
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