Address
710 E Kensington Road, Arlington Heights, IL
Price
$ 1,075,000
Property Attributes
- MLS#11779702
- TypeCommercial
- CountyCOOK
- CityArlington Heights
- AreaArlington Heights
- Zip60004
- Style
- Taxes$ 6058
- Price$ 1,075,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage6288
- Lot Size10,000 SqFt
Data Source:
Midwest Real Estate Data (MRED)
Property Description
Fantastic Investment Opportunity! SELLER FINANCING AVAILABLE.Fully Rented Income-Producing Mixed-Use Building in a Prime Location! This impressive two-story, 4,800 square foot property on a spacious approximately 10,000 square foot lot is now available at 710-712 Kensington. The building is fully rented, generating consistent income from its diverse tenant mix. The second floor features two fully rented, beautifully maintained 3-bedroom apartments, offering a reliable stream of rental income. The first floor boasts two recently remodeled offices/retail spaces, providing an excellent opportunity for businesses to thrive in a bustling location. The first floor underwent a complete renovation and upgrade in 2019, including a brand new furnace and A/C system, ensuring optimum comfort for tenants and customers. Each commercial unit on the first floor offers approximately 1,200+ square feet of flexible space, with a combined area of 2,600 square feet. The units are individually metered for gas and electric utilities, providing convenience and ease of management. This property also features a full basement, perfect for storage or the potential for additional lower-level offices. Additionally, there is a dedicated private rear parking area that can accommodate approximately 6-8 cars and light trucks, offering convenience and accessibility for tenants and customers. Furthermore, there is ample free parking available on South Hickory Avenue, ensuring hassle-free visits to the property. Both the interior and exterior of the building have undergone extensive renovations, showcasing a modern and inviting aesthetic. The property benefits from its highly sought-after location on Kensington Road and Hickory Avenue, situated directly behind Mariano's grocery store. It is also adjacent to the new Arlington Market subdivision, a multi-family residential development, and upcoming residential condos on Hickory Ave, indicating a promising and rapidly developing neighborhood. Please note that tenant privacy is important. Therefore, all showings must be scheduled in advance through the listing broker. Don't miss out on this incredible investment opportunity! Act now to secure your future income potential. Broker owned. Easy access to NW Highway. Schedule a showing today and witness the impressive potential of this income-generating property!
| Price History | |
|---|---|
| 5/10/2023 | Listed $1,300,000 |
| 6/17/2023 | 12% - $1,150,000 |
| 8/2/2023 | 7% - $1,075,000 |
General Features
| Additional Parcels Y/N | No |
|---|---|
| City | Arlington Heights |
| Cooling | Central Individual |
| County | Cook |
| Days on Market | 188 |
| Directions | Kensington Rd & Hickory Ave |
| Electric | Separate Meters, Service - 0 to 100 Amps, Service - 101 to 200 Amps |
| Gross Income | 58800 |
| Leasable Area | 4800 |
| Lot Size Square Feet | 10000 |
| MLS Area | Arlington Heights |
| Net Operating Income | 46800 |
| Operating Expense | 12000 |
| Possession | Closing, Immediate |
| Property SubType | Other |
| Property Type | Commercial Sale |
| Property Type | Office/Tech |
| Standard Status | Active |
| Status | Active |
| Stories | 2 |
| Street Name | Kensington |
| Tax Annual Amount | 6058 |
| Tax Year | 2021 |
| Tenant Pays | Electricity, Heat |
| Total Units | 4 |
| Zoning | COMMR |
Interior Features
| Street Suffix | Road |
|---|
Exterior Features
| Building Area Total | 6288 |
|---|---|
| Exterior | Brick |
| Lot Dimensions | 0000 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 60004
Price
Taxes
Visits
Walkscore
Midwest Real Estate Data (MRED) All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than Schaumburg may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2023 All rights reserved.Based on information submitted to the MLS GRID as of December 4, 2023 11:48 AM UTC All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice.
Data is updated as of December 4, 2023 11:48 AM UTC
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
