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Shopping Neighborhood

InStyle Salon & Spa Suites

2316 Esplanade Dr, Algonquin, IL 60118

Listing Price: $8,841,920

Cap Rate
7.81%
Gross SF
17,452
Rentable SF
11,168
Price/Gross SF
$506.64
Lot Size
0.26 acres
Year Built
1990

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 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

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

Shopping Neighborhood

InStyle Salon & Spa Suites

Listing Price: $8,841,920

Cap Rate
7.81%
Gross SF
17,452
Rentable SF
11,168
Price/Gross SF
$506.64
Lot Size
0.26 acres
Year Built
1990

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 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

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