18058 Torrence AveLansing, IL 60438

Property Details for 18058 Torrence Ave

Year built

1929

Lot size

0.28 AC

Property type

Auto shops

APN

29-36-206-008

APU

2936206008

Description

This exceptional multi-tenant property, located at 18058 Torrence Avenue in Lansing, Illinois, presents a compelling value-add opportunity. Situated on a highly visible corner lot at the intersection of Torrence Avenue and Indiana Avenue, this property boasts a significant daily traffic count of 30,000 vehicles. The property comprises two distinct units. Unit 1 offers a substantial 4,802 square feet, including 2,254 square feet of street-level storefront/office space on Torrence Avenue and 2,548 square feet of warehouse space featuring an overhead door. A sizable 1,800-square-foot basement provides additional storage or expansion potential. Unit 2 encompasses 2,450 square feet, with 735 square feet dedicated to office space and 1,715 square feet of warehouse space equipped with a 14-foot overhead door. A 540-square-foot mezzanine adds extra versatility. The property includes a fenced-in rear lot accessible from Unit 2. This prime location benefits from proximity to established businesses such as Starbucks, Taco Bell, Chipotle, and Lan Oak Liquors, ensuring high visibility and potential for strong tenant occupancy. The total building size is 7,252 square feet, and the property is offered at $125,000. This presents a rare chance to acquire a well-positioned multi-tenant property with significant upside potential in a thriving commercial area.

• CAP approach

  CAP return

  Valuation

  6%

  $5,763,476

  6.5%

  $5,320,132

  7%

  $4,940,122

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,004,406

  Geo Method

  $4,004,406

• Alternative Use

  Use

  Valuation

  Residential

  $4,487,730

  Hospitality

  $4,110,737

  Educational

  $3,420,085

  Medical

  $3,537,707

  Retail

  $5,320,132

Location Insight

City

Lansing

County

Cook

State

Illinois

Latitude

41.5667

Longitude

-87.5593

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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