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597 S Lake St

3,600 SF Retail Building Aurora, IL 60506 £457,366 (£127/SF) 9.50% Net Initial Yield

Investment Highlights

  • Dual Income Streams: The property cleverly combines a high-visibility retail space on the main floor with a spacious 3-bedroom apartment upstairs.
  • Ample parking with a 2.5-car garage and private lot, along with a full basement for the retail space offering extra storage or expansion potential.
  • Separate Utilities: Each unit having its own utilities simplifies management and ensures tenants are responsible for their own consumption.

Executive Summary

**Prime Aurora Investment Property with High-Visibility Retail Space**
This fully updated property presents an exceptional investment opportunity in a prime Aurora location. Ideal for owner-occupiers or investors seeking a turnkey solution, this property features:
* **Ground Floor Retail:** High-visibility storefront with a full basement for storage or expansion, plus ADA-compliant access.
* **Income-Generating Apartment:** Spacious 3-bedroom, 2-bathroom apartment on the upper level, fully renovated with modern amenities including a laundry room, sunroom, and updated kitchen.
* **Separate Utilities:** Each unit is separately metered for efficient management and tenant responsibility.
* **Ample Parking:** Includes a 2.5-car garage and a private parking lot for tenant and customer convenience.
* **Recent Updates:** New roof, siding, and gutters (2024) ensure minimal maintenance and worry-free ownership.
**Maximize your investment potential with this versatile property!**
**Contact us today to schedule a showing or for more information.**
**Serious inquiries from pre-approved buyers or those with proof of funds only.**

**Key Changes for LoopNet:**
* **Emphasis on Commercial Aspect:** The listing highlights the retail space and its features upfront.
* **Concise and Direct Language:** Uses strong, concise language to attract attention and convey key information quickly.
* **Call to Action:** Encourages potential buyers to take the next step by contacting the seller.
* **Target Audience:** Focuses on investors and owner-occupiers looking for a turnkey commercial property.
* **Professional Tone:** Maintains a professional tone throughout, suitable for a commercial real estate platform.

Financial Summary (Pro forma - 2024) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income $99,999 $9.99
Vacancy Loss $99,999 $9.99
Effective Gross Income $99,999 $9.99
Taxes $99,999 $9.99
Operating Expenses - -
Total Expenses $99,999 $9.99
Net Operating Income - -

Financial Summary (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual $99,999
Annual Per SF $9.99
Vacancy Loss
Annual $99,999
Annual Per SF $9.99
Effective Gross Income
Annual $99,999
Annual Per SF $9.99
Taxes
Annual $99,999
Annual Per SF $9.99
Operating Expenses
Annual -
Annual Per SF -
Total Expenses
Annual $99,999
Annual Per SF $9.99
Net Operating Income
Annual -
Annual Per SF -

Property Facts

Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,600 SF
Building Class
C
Year Built/Renovated
1915/2014
Price
£457,366
Price Per SF
£127
Net Initial Yield
9.50%
NOI
£43,450
Tenancy
Multiple
Number of Floors
2
Building FAR
0.46
Lot Size
0.18 AC
Zoning
Commercial - Retail stores Restaurants Offices Personal services The property's existing conf as a mixed-use building with ground-floor retail main and res top fl.
Parking
9 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
57 ft on S Lake St

Amenities

  • Signage

Nearby Major Retailers

The YMCA
First National Bank of Omaha
Fifth Third Bank
Old National Bank
PNC Bank

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15-28-127-046
Land Assessment
£4,381 (2023)
Improvements Assessment
£52,130 (2023)
Total Assessment
£56,511 (2023)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2024
  • Listing ID: 34095837

  • Date on Market: 05/12/2024

  • Last Updated:

  • Address: 597 S Lake St, Aurora, IL 60506

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