4055 Steele DrMachesney Park, IL 61115

Property Details for 4055 Steele Dr

Year built

2003

Property size (Sq ft)

13,090 SF

Property type

Office properties

APN

08-20-225-013

APU

820225013

Description

This exceptional 30,090 square foot flex space property, located at 4055 Steele Drive in Machesney Park, Illinois 61115, presents a unique investment opportunity. The building, constructed in 2002 and classified as Class B, offers a total of two suites, with 16,000 square feet currently vacant and ready for immediate occupancy. The property boasts ample parking with 112 spaces available. The building features 14-16 foot clear heights, ideal for a variety of uses. The zoning is designated as IG, allowing for flexibility in tenant improvements and operations. The location is highly desirable, situated north of Route 173 and within three miles of the I-90/39 interchange, providing easy access to major transportation arteries. The existing office areas are easily adaptable to flex or industrial uses, catering to a broad range of potential tenants. The 0.422-acre lot provides ample space for loading and maneuvering. The building does not include elevators. This multi-tenant property offers a significant opportunity for businesses seeking a strategic location with excellent accessibility and adaptable space.

• CAP approach

  CAP return

  Valuation

  6%

  $2,363,555

  6.5%

  $2,181,743

  7%

  $2,025,904

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,328,938

  Geo Method

  $1,704,972

• Alternative Use

  Use

  Valuation

  Residential

  $2,705,361

  Hospitality

  $2,478,096

  Educational

  $2,061,747

  Medical

  $2,132,654

  Retail

  $3,207,162

Location Insight

City

Machesney Park

County

Winnebago

State

Illinois

Latitude

42.3686

Longitude

-89.0219

CBSA code

40420

CBSA name

ROCKFORD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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