106 E Schoolhouse Road E

Description

Rare opportunity to purchase a fully leased 12,000 SF multi-tenant building in rapidly growing Yorkville! Selling due to retirement after 30+ years of ownership, this actively managed asset is now primed for continued cash flow with considerable appreciation lying between a lively downtown and ever expanding residential development to the south. A total of 8 office/retail units comprise the first floor including a new five year lease to a child daycare occupying 3,150 SF. The second floor consists of six fully leased apartments: 2-one bedroom units and 4-two bedroom units. Units are spacious, mostly updated, and very easy to rent. All but one unit has a balcony. Coin operated laundry and storage lockers are located on main level. All tenants in the building are on year-to-year leases or longer; many of whom have been leasing their unit for 4 years or greater. Contact agent for rent roll details including tenants, lease rates, expenses, etc. Major improvements completed in 2024: complete tear off and replacement of roof, 2 furnaces, 1 new A/C, new flooring and paint in daycare. On site is a fenced in playground for the daycare, 2 car garage with attached storage space, two additional storage sheds, as well as a large green space that could be utilized for future development or expanded parking. Do not disturb the tenants- list agent must be present for all showings. Showings will typically require a 48 hour notice. Don't let this one pass you by- call for private showing!