40 Nugent StGlenwood, IL 60425

Property Details for 40 Nugent St

Year built

2004

Lot size

1.28 AC

Property type

Office properties

APN

32-03-319-014-1003

APU

32033190141003

Description

This exceptional 6,500 square foot ground floor condo is ideally situated in the heart of Glenwood, IL, at the northeast corner of Main and Nugent Streets. Its prime location offers unparalleled visibility and accessibility, directly adjacent to the Village Hall and Police Station, and conveniently located near the Homewood Metra Rail. This presents a unique opportunity for businesses seeking high foot traffic and convenient public transportation access. The space previously housed a barber college and offers a versatile layout adaptable to various business needs. The interior features a large reception area, two conference rooms, four bathrooms, a kitchen, a classroom, and ten private offices. The property's infrastructure is robust, including eight furnaces, four air conditioning units, and four 200-amp service electric panels, all zoned for efficient operation and energy management. The ample parking available further enhances the property's appeal. The building's three upper floors house luxury condominiums, providing a built-in customer base for businesses operating within this space. This adaptable space can be utilized as a single large unit or easily divided to suit specific requirements. This is a rare opportunity to acquire a highly visible and functional commercial space in a thriving community.

• CAP approach

  CAP return

  Valuation

  6%

  $17,918,710

  6.5%

  $16,540,348

  7%

  $15,358,895

• Comparable approach

  Method

  Valuation

  Relative Method

  $7,262,349

  Geo Method

  $7,262,349

• Alternative Use

  Use

  Valuation

  Residential

  $20,510,032

  Hospitality

  $18,787,080

  Educational

  $15,630,629

  Medical

  $16,168,191

  Retail

  $24,314,312

Location Insight

City

Glenwood

County

Cook

State

Illinois

Latitude

41.5444

Longitude

-87.6125

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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