Market Summary

​

Price                                    $8,500,000

Cap Rate                             8.13%

NOI                                      $690,721

Gross SF                             17,452 SF

Rentable SF                        11,168 SF

Price per SF                        $791.72

​

Description

​

Since coming to market they have leased a few more suites, so the vacancy has dropped and NOI has gone up. The property is operating above 96% occupancy.

Marcus & Millichap is pleased to present the portfolio sale of In Style Salon & Spa Suites with 5 Locations.  The real estate consists of 11,168 square feet spread among five condo units located in Algonquin, Bartlett, Elk Grove Village, Palatine, and St. Charles, Illinois. The properties are located within 12 miles of each other, providing easy management of their long-term tenants.

InStyle has been a respected name in the salon suite industry for the past 15 years. Throughout their tenure, they have produced consistent growth. Great care has been taken to decorate with a similar style and manner which gives the suites a consistent and timeless look and feel. Décor was chosen to be resilient and help with ease of tenant turnover.

In addition to an excellent cash flow, the owners have developed systems that are in place to make management of the properties easy. more streamlined with a very robust website that includes a CRM to recruit new tenants to the properties. The website is www.instylesuites.com The property is ideal for an investor that is looking for an existing, stabilized stream of income for the long term.

Property Addresses:

Algonquin – 2316 Esplanade Dr., Algonquin, IL 60102

Bartlett – 260 E. Army Trail Rd., Unite B, Bartlett, IL 60103

Elk Grove Village – 1104 W. Devon Ave., Elk Grove Village, IL 60007

Palatine - 208 W Northwest Highway, Palatine, IL 60067

St. Charles – 457 Dunham Rd., Unit 100, St. Charles, IL 60174