109 Cary StCary, IL 60013

Property Details for 109 Cary St

Year built

1865

Lot size

0.13 AC

Property size (Sq ft)

3,600 SF

Property type

Commercial real estate

Description

This exceptional seven-unit multifamily property, located at 109 Cary Street in the heart of Cary, Illinois, presents a compelling investment opportunity. Boasting a total of 3,600 square feet on a 0.13-acre lot, the building comprises two studio apartments and five one-bedroom units. Several units have undergone recent, comprehensive renovations, enhancing their appeal and market value. Specifically, Unit 104 and Unit 111 were fully renovated in 2022, while Units 109C and 109B received full renovations in 2023. Further improvements include a full renovation of Unit 109D in 2024. The property benefits from full occupancy, ensuring a stable and predictable cash flow for the investor. Significant capital improvements completed in recent years include a new boiler and water heater (2022), a new roof and gutters (2024), sealcoating, and a restriped parking lot (2024). Adding to its appeal, the property features on-site laundry facilities and private parking. Select units also offer private balconies. Tenant-paid utilities (water and electric) further enhance the property's profitability. The property's prime location, just 200 feet from the Metra station, provides tenants with convenient access to downtown Cary and major transportation routes. An unfinished 408 square foot basement offers additional income potential through conversion into storage or office space. This well-maintained property represents a rare opportunity to acquire a reliable, income-generating asset in a highly desirable location. Priced at $850,000.

Location Insight

City

Cary

County

McHenry

State

Illinois

Latitude

42.2076

Longitude

-88.2415

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