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Mixed-Use

Heart of Downtown Downers Grove Mixed-Use Property

5116-5124 Main St, Downers Grove, IL 60515

Listing Price: $4,500,000

Cap Rate
6.63%
Number of Units
16
Occupancy
89.0%
Price/Unit
$281,250
Price/Gross SF
$211.90
Gross SF
21,236

Investment Overview

Marcus & Millichap is pleased to present a mixed-use property in the heart of Downtown Downers Grove, Illinois. It has a complementary mix of service-based tenants with the opportunity to add value. There is a diverse income stream with two residential units, numerous professional service offices, and street level retail. There is an opportunity to grow NOI through renovating and leasing the one-bedroom apartment. Many tenants have substantial operating history at the property. This property was not managed professionally prior to one year ago. It is located in an affluent submarket with strong economic drivers. It is in close proximity to numerous restaurants, shops, and tourist attractions. It’s located in a pedestrian friendly environment, which is a major draw for customers and businesses. It is conveniently located adjacent to the Metra train station and surrounded by many new luxury, high density residential properties. The average household income exceeds $151,000 within a one-mile radius of the property and 100,000 people live within a three-mile radius of the property. Population is expected to continue growing over the next five years. There is also a strong daytime population with over 120,000 people working within a three-mile radius of subject property.

Investment Highlights

  • Mixed-Use Development Ideally Positioned in the Heart of the Historic Downtown Downers Grove District
  • Downers Grove Has Experienced a Boom in New Construction and Investment
  • Property Features Complementary Mix of Service Based Tenants with Opportunity to Add Value
  • Affluent Submarket with Strong Economic Drivers

Exclusively Listed By

Mixed-Use

Heart of Downtown Downers Grove Mixed-Use Property

Listing Price: $4,500,000

Cap Rate
6.63%
Number of Units
16
Occupancy
89.0%
Price/Unit
$281,250
Price/Gross SF
$211.90
Gross SF
21,236

Investment Highlights

  • Mixed-Use Development Ideally Positioned in the Heart of the Historic Downtown Downers Grove District
  • Downers Grove Has Experienced a Boom in New Construction and Investment
  • Property Features Complementary Mix of Service Based Tenants with Opportunity to Add Value
  • Affluent Submarket with Strong Economic Drivers

Investment Overview

Marcus & Millichap is pleased to present a mixed-use property in the heart of Downtown Downers Grove, Illinois. It has a complementary mix of service-based tenants with the opportunity to add value. There is a diverse income stream with two residential units, numerous professional service offices, and street level retail. There is an opportunity to grow NOI through renovating and leasing the one-bedroom apartment. Many tenants have substantial operating history at the property. This property was not managed professionally prior to one year ago. It is located in an affluent submarket with strong economic drivers. It is in close proximity to numerous restaurants, shops, and tourist attractions. It’s located in a pedestrian friendly environment, which is a major draw for customers and businesses. It is conveniently located adjacent to the Metra train station and surrounded by many new luxury, high density residential properties. The average household income exceeds $151,000 within a one-mile radius of the property and 100,000 people live within a three-mile radius of the property. Population is expected to continue growing over the next five years. There is also a strong daytime population with over 120,000 people working within a three-mile radius of subject property.

Exclusively Listed By

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