207 Mclean StLincoln, IL 62656

Property Details for 207 Mclean St

Property size (Sq ft)

4,120 SF

Property type

Commercial real estate

Description

This exceptional 4,120 square foot commercial condominium, located at 207 S Mclean Street Unit 3 in Lincoln, Illinois, presents a compelling investment opportunity. Situated on the third floor of a building at the southwest corner of Pulaski Street and South McLean Street, in the heart of Lincoln's vibrant downtown, this property boasts a prime location with excellent visibility. Currently fully occupied by a single tenant under a lease extending to June 23, 2027, with a three-year renewal option, this investment offers immediate cash flow. The spacious interior features abundant natural light from numerous windows offering views of the Logan County Courthouse. The property's convenient location provides easy access to a variety of nearby restaurants and retail establishments, enhancing its appeal and potential for future growth. The property is classified as general commercial and is offered at an attractive 9% capitalization rate, making it an ideal addition to any investment portfolio. This is a rare opportunity to acquire a stable, high-yielding commercial property in a thriving downtown area. The asking price is $345,500.

Location Insight

City

Lincoln

County

Logan

State

Illinois

Latitude

40.1452

Longitude

-89.3627

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