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InStyle Salon & Spa Suites
2316 Esplanade Dr, Algonquin, IL 60118
Listing Price: $6,900,000
Investment Overview
Marcus & Millichap is pleased to present the portfolio sale of InStyle Salon & Spa Suites. The business started in 2007 and has grown to 11,168 leasable square feet spread among five condo units located in Algonquin, Bartlett, Elk Grove Village, Palatine, and St. Charles, Illinois. The properties are located within a 12-mile radius of each other, providing easy management of their long-term tenants. In Style has been a respected name in the salon suite industry for the past 15 years. Throughout their tenure, they have produced consistent growth at their five locations. Great care has been taken to decorate with a similar style and manner which gives the suites a timeless and consistent look and feel. Décor was chosen to be timeless and help with ease of tenant turnover. In addition to an excellent cash flow, the owners have developed systems that are in place to make management of the properties more streamlined with a very robust website that includes a CRM to recruit new tenants to the properties. The website is www.instylesuites.com and a rent roll will be provided when there is a signed LOI. At 94.5 percent occupancy, the property is ideal for an investor that is looking for an existing, stabilized stream of income for the long term. The properties are located at: Algonquin – 2316 Esplanade Dr., Algonquin, IL 60102 Bartlett – 260 E. Army Trail Rd., Unite B, Bartlett, IL 60103 Elk Grove Village – 1104 W. Devon Ave., Elk Grove Village, IL 60007 Palatine - 208 W Northwest Highway, Palatine, IL 60067 St. Charles – 457 Dunham Rd., Unit 100, St. Charles, IL 60174
InStyle Salon & Spa Suites
Investment Highlights
- 94.5% Occupancy Over the Five Units
- Over 55% of the Tenants Have Been in the Property for Over Five Years
- Pandemic Drove Operators to this Business Model
- Fee Simple Investment with Above Average Return
- Service Sector Property | Internet Resistant
- Very High Household Income in all Locations | Well Above $100,000 Per Year
- Low-Cost Tenant Turnover
- Value Add in Rental Increases
Exclusively Listed By
Financing By
Listing Price: $6,900,000
Investment Highlights
- 94.5% Occupancy Over the Five Units
- Over 55% of the Tenants Have Been in the Property for Over Five Years
- Pandemic Drove Operators to this Business Model
- Fee Simple Investment with Above Average Return
- Service Sector Property | Internet Resistant
- Very High Household Income in all Locations | Well Above $100,000 Per Year
- Low-Cost Tenant Turnover
- Value Add in Rental Increases
Investment Overview
Marcus & Millichap is pleased to present the portfolio sale of InStyle Salon & Spa Suites. The business started in 2007 and has grown to 11,168 leasable square feet spread among five condo units located in Algonquin, Bartlett, Elk Grove Village, Palatine, and St. Charles, Illinois. The properties are located within a 12-mile radius of each other, providing easy management of their long-term tenants. In Style has been a respected name in the salon suite industry for the past 15 years. Throughout their tenure, they have produced consistent growth at their five locations. Great care has been taken to decorate with a similar style and manner which gives the suites a timeless and consistent look and feel. Décor was chosen to be timeless and help with ease of tenant turnover. In addition to an excellent cash flow, the owners have developed systems that are in place to make management of the properties more streamlined with a very robust website that includes a CRM to recruit new tenants to the properties. The website is www.instylesuites.com and a rent roll will be provided when there is a signed LOI. At 94.5 percent occupancy, the property is ideal for an investor that is looking for an existing, stabilized stream of income for the long term. The properties are located at: Algonquin – 2316 Esplanade Dr., Algonquin, IL 60102 Bartlett – 260 E. Army Trail Rd., Unite B, Bartlett, IL 60103 Elk Grove Village – 1104 W. Devon Ave., Elk Grove Village, IL 60007 Palatine - 208 W Northwest Highway, Palatine, IL 60067 St. Charles – 457 Dunham Rd., Unit 100, St. Charles, IL 60174
Exclusively Listed By
Financing By
