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1626 W Colonial Pky
Inverness, IL 60067 Far Northwest Suburban Cook

$475,000 USD

Office Condo For Sale  •  6,476 SF

Property Details

  • Property Type Office
  • Total Building Size 6,476 SF
  • Lot Size 9.19 AC
  • Building Class C
  • Year Built 1984
  • Cap Rate 4.35 %
  • Tenancy Multiple
  • Zoning B-1, Inverness
0 Transit Score
18 Walk Score

1 Unit Available

Name Condo Use Size Price Details
Ll Floor - Unit 1 Medical Office 6,476 SF $475,000 USD
  • Unit Size: 6,476 SF
  • Condo Use: Medical Office
  • Price: $475,000 USD
  • Sale Type: Investment or Owner User
  • Price/SF: $73.35 USD
Description
Set in a park-like environment with flowing waterways and brick-paved roads and walkways; Located only minutes away from expressways, tollways, O'Hare International Airport and downtown Chicago; Lower level office space in the building.

Sale Notes
Owner user with Tenant Income

Description

This 3 LEVEL 5,330 sq. ft. 2-story (plus finished lower level) professional office condo building is located in the prestigious Williamsburg Village, a comfortable commercial setting surrounded by park like landscaping, ponds, brick paver streets and a covered bridge. The property features an open entry foyer that provides access to all 3 levels. The first floor, is leased is 2,208sf features 6 private rooms, office area, reception area, large executive conference room with fireplace (can easily break into 2 private offices), and a washroom. The Second floor is 2,060sf & is leased, includes 11 private rooms & a washroom. The lower-level is 2,208sf & is partially leased. Small tenant on a MTM or buyer can occupy 550sf suite.  Great opportunity for an owner/user who is tired of paying rent or an investor looking to lease office spaces with flexible configurations.
Prime location across from Harper College, 5 minutes to I-90, 15 miles to O'Hare International Airport and 30 miles to Chicago Loop.
2023 (payable 2024) Real Estate Taxes are $22,000. Monthly association fees are $1,305 and includes exterior building maintenance and repairs, gutter cleaning, landscape services, snow removal services, pond maintenance, exterior painting, parking lot maintenance and repairs, sidewalk maintenance and repairs, common outside electrical, scavenger services, management fees, as well as attorney fees (RE Tax Protests).

Financial Summary

Cap Rate: 4.35 %
Total Expenses: $52,365 USD

Major Tenants

Tenant SF Occupied Lease End Date
Active Life Chiropractic 2,208 SF 7/31/2028
Lower Level Suite B 250 SF
Pension Administrators Inc 2,060 SF 8/31/2028

Public Transportation

Commuter RailDriveWalkDistance
Palatine Station (Union Pacific Northwest Line - Northeast Illinois Regional Commuter Railroad (Metra)) 8 min - 3.7 mi
Arlington Park Station (Union Pacific Northwest Line - Northeast Illinois Regional Commuter Railroad (Metra)) 10 min - 4.5 mi
AirportDriveWalkDistance
Chicago O'Hare International 23 min - 16.3 mi
Chicago Midway International 47 min - 32.4 mi

Parking Details

Parking Available: Yes
Reserved: No
Spaces Provided: 8
Type: Surface
Included in Rent: Yes
Leslie Webber 847-359-5557 New London
Leslie Webber 847-359-5557 New London