3406-3410 Main StSkokie, IL 60076

Property Details for 3406-3410 Main St

Property size (Sq ft)

2,450 SF

Property type

Retail properties

Property subtype

Land

Description

This exceptional investment opportunity presents a three-story, multi-tenant retail plaza located at 3406-3410 W Main St, Skokie, IL 60076, in Cook County. The property boasts approximately 2,450-2,550 square feet of leasable space, currently enjoying 100% occupancy with gross leases in place. The current tenants include a hair salon and a bakery, generating a substantial monthly gross income of $4,200, translating to $50,400 annually. Lease terms vary, with one expiring in April 2025 and the other in May 2027. Annual expenses, including real estate taxes of $18,660, total $20,000, resulting in a strong annual net income of $30,400. The property features 11 parking spaces, conveniently located both in front and behind the building. Its prime location offers easy access to Skokie's downtown area, the vibrant Oakton St. and Lincoln Ave./Niles Center Rd. entertainment corridor, and major interstates I-90 and I-94, providing convenient access to O'Hare Airport and Chicago's downtown. This versatile property is well-suited for a variety of retail and professional businesses, making it an attractive investment with a 7.00% cap rate. The asking price is $459,000.

Location Insight

City

Skokie

County

Cook

State

Illinois

Latitude

42.0261

Longitude

-87.7271

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