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$ 1,350,000
Est. payment /mo
Active Under Contract
10060-10066 190th Place Mokena, IL 60448
6,657 SqFt
UPDATED:
10/15/2024 01:47 PM
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 6,657 sqft
Price per Sqft $202
MLS Listing ID 12144187
Year Built 2009
Annual Tax Amount $16,498
Tax Year 2023
Lot Dimensions COMMON
Property Description
Regency Office Suites offers a prime investment opportunity with 6,657 square feet of high-quality shared office space and a strong 9% cap rate. The property features a high occupancy rate, with several tenants being long-term and demonstrating strong loyalty. Tenants benefit from attractive shared amenities, including a conference room, break room, and reception area, which enhance the overall appeal and functionality of the space. Included in the sale is a comprehensive selection of furnishings, such as desks, chairs, bookcases, conference tables, and more, adding significant value and convenience for both new owners and tenants. Recent upgrades include a new roof, two newly installed AC systems, and electric vehicle charging stations, all completed in 2023. These enhancements reflect a commitment to modern improvements and tenant satisfaction. The property also includes four storage closets and four restrooms, contributing to its practicality and convenience. Additionally, it features a secure entryway access system in the vestibule, as well as a well lit parking lot ensuring safety and security for all tenants. Located in the highly desirable Olivieri Business Park, which is well maintained, with plenty of parking and professionally managed. This location also benefits from high visibility, with traffic volumes nearing 22,000 cars daily, and only minutes from I-80, further increasing the property's desirability and investment potential. Overall, Regency Office Suites combines a strong cap rate, loyal long-term tenants, modern upgrades, ample furnishings, a prime location, and favorable Will County taxes, making it a compelling investment opportunity.
Location
State IL
County Will
Zoning OFFIC
Interior
Cooling Central Air
Flooring Carpet, Tile
Fireplace N
Exterior
View Y/N true
Roof Type Composition
Building
Foundation Concrete Perimeter
Structure Type Brick,Wood Frame
© 2024 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Madison Watson • Olivieri Real Estate LLC