316 Main StWauconda, IL 60084

Property Details for 316 Main St

Year built

1935

Construction

FRAME

Lot size

0.23 AC

Property size (Sq ft)

2,982 SF

Property type

Investment properties

Property subtype

Live-work space

APN

09-25-307-048

APU

925307048

Description

This exceptional mixed-use property, located at 316 S Main Street S in Wauconda, Illinois, presents a unique investment opportunity. The 2,982 square foot building comprises three commercial units and one residential apartment, all currently leased to stable tenants, generating consistent income. The commercial spaces are occupied by a thriving hair salon, a nail salon, and a Farmer's Insurance agency, reflecting the strong tenant base and diverse business mix in the area. The residential apartment adds to the overall income stream. Situated in the heart of Wauconda's vibrant downtown business district, the property benefits from high visibility and foot traffic. Its proximity to popular restaurants, bars, Bang's Lake, the Park District, and the library enhances its appeal and attracts a steady flow of customers. The convenient location directly across from the police station provides an added layer of security and peace of mind. Ample parking is available, ensuring easy access for tenants and patrons alike. This meticulously maintained and fully updated property is a rare find, offering a compelling blend of commercial and residential income potential in a desirable location. The property is offered at $369,000.

• CAP approach

  CAP return

  Valuation

  6%

  $538,436

  6.5%

  $497,017

  7%

  $461,516

• Comparable approach

  Method

  Valuation

  Relative Method

  $302,742

  Geo Method

  $388,406

• Alternative Use

  Use

  Valuation

  Residential

  $616,302

  Hospitality

  $564,529

  Educational

  $469,681

  Medical

  $485,834

  Retail

  $730,616

Location Insight

City

Wauconda

County

Lake

State

Illinois

Latitude

42.2585

Longitude

-88.1384

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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