South La Grange Center

South La Grange Center

14 Unit Mixed Use | Office and Apartments


Less Than One Mile From Downtown La Grange
Value Add Opportunity
Excellent Infill Location | Each Suite has its Own Entrance
Redevelopment Possible and Wanted by City
Buildable Lot Included in Sale

631 South La Grange Road, La Grange, IL 60525

Request Offering Memorandum

Market Summary

Price                                 $399,900

Cap Rate                          5.22%

NOI                                   $20,883

Rentable SF                     5,808 SF

Price per SF                     $68.85

Year Built                         1965

Lot Size                            .29 Acres

Description

Marcus & Millichap is pleased to present a value-add property located in La Grange, Illinois. The property is located at 633 South La Grange Road, less than one mile from the heart of downtown La Grange and all it has to offer. The property has 12 commercial units that can be used for office or retail and two residential apartments. There is also an open area adjacent to the building that is being leased out for parking but could be built on.

The property has multiple vacancies with mostly month-to-month leases. One residential tenant is without a lease and the other expires in 2023. The city of La Grange is very open for this property to be redeveloped into something more appealing. You can build lot line to lot line and there are no setbacks.

La Grange is a vibrant community located approximately 13 miles west of downtown Chicago, Illinois. Its downtown boasts many restaurants, shopping, and train access. The demographics are excellent with over 80 percent of employees are in white-collar occupations and the average household income is over $153,000 per year.

Contact Us


The Saia | Andrew Group of Marcus & Millichap

Tammy Saia Info
(630) 570-2226
tsaia@marcusmillichap.com

Tami Andrew Info

(630) 570-2179

tandrew@marcusmillichap.com

© 2020 by Marcus & Millichap Saia | Andrew Group.