131 E 9th St
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131 E 9th St
3,750 SF 100% Leased Retail Building Lockport, IL 60441 £347,160 (£93/SF) 6.74% Net Initial Yield
Investment Highlights
- Heavy daily foot traffic, ideal for retail.
Executive Summary
Classic brick office building featuring art deco design elements in Historic Downtown Lockport. Busy corner location ideal for retail, benefiting from the Downtown Streetscape Plan with brick walkways, decorative planter, shade tree, shrubs and perennials along with the redone free municipal parking lot. Currently three units with separate mailing addresses and entrances, but could be converted to one or two units. All three units are occupied, two units are leased to long-standing office tenants. Barrel roof construction (non-load bearing walls) allows for flexible, cost-effective reconfiguring of the units. No basement, insulated and accessible full-span attic. Many recent improvements including LED lighting throughout, comprehensive fire alarm system (2017), awnings, 3 furnaces, 2 A/C units, flooring and 2 bathroom remodels make this a desirable turnkey property. Be a part of the retail resurgence in beautiful Downtown Lockport.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Actual - 2023) Click Here to Access
Gross Rental Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
3,750 SF
Building Class
C
Year Built/Renovated
1935/2018
Price
£347,160
Price Per SF
£93
Net Initial Yield
6.74%
NOI
£23,396
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
1.09
Land Acres
0.08 AC
Zoning
C-4 - Downtown Commercial
Frontage
55 ft on 9th St
Amenities
- Tenant Controlled HVAC
- Accent Lighting
- Air Conditioning
Walk Score ®
Very Walkable (81)
PROPERTY TAXES
Parcel Number | 04-23-325-022 | Total Assessment | £42,797 |
Land Assessment | £12,054 | Annual Taxes | -£1 (£0.00/sf) |
Improvements Assessment | £30,743 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
04-23-325-022
Land Assessment
£12,054
Improvements Assessment
£30,743
Total Assessment
£42,797
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
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131 E 9th St
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