1652 Willow RdNorthfield, IL 60093

Property Details for 1652 Willow Rd

Year built

1940

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.06 AC

Property size (Sq ft)

3,137 SF

Property type

Residential income homes

Property subtype

Small apartment buildings

APN

05-19-303-010

APU

519303010

Description

This exceptional 3,137 square foot mixed-use building presents a unique investment opportunity in the desirable Northfield, IL area. Situated on Willow Road, this two-story property boasts excellent street visibility and convenient access to major roadways and interstates, including easy commutes to O'Hare Airport and downtown Chicago. The first floor offers a spacious, updated commercial space currently leased for $2,500 per month under a month-to-month agreement, including a dedicated storage room. This provides immediate income potential for the new owner. The second floor comprises a comfortable two-bedroom, one-bathroom apartment with additional office space, ideal for owner occupancy or as a separate rental unit. The property is located within the highly-regarded Northfield School District, encompassing Sunset Middlefork Primary and New Trier schools. One to two rear parking spaces are included. This property offers a rare blend of residential and commercial space, making it perfect for an owner-operator seeking to combine living and business operations or an investor looking for a strong rental income stream in a prime Northwest suburban location. The building is in excellent condition and benefits from its proximity to major transportation arteries and highly-rated schools.

• CAP approach

  CAP return

  Valuation

  6%

  $1,170,918

  6.5%

  $1,080,848

  7%

  $1,003,644

• Comparable approach

  Method

  Valuation

  Relative Method

  $633,321

  Geo Method

  $633,321

• Alternative Use

  Use

  Valuation

  Residential

  $1,080,848

  Hospitality

  $990,050

  Educational

  $823,710

  Medical

  $852,039

  Retail

  $1,281,327

Location Insight

City

Northfield

County

Cook

State

Illinois

Latitude

42.1011

Longitude

-87.7655

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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