Available For Sale - Office

17,160 SF | Show Pricing $

LISTED BY

Neil Johnson
SVN | Landmark Commercial Real Estate, 630-938-4950

AVAILABILITY DETAILS

Size
17,160 SF
Price/SF
Show Pricing $
Listing ID
SA529073
Notes
Historic multi-tenant office/retail building with vintage finishes. Located in the heart of downtown Geneva, this all-brick building features multiple entrances, & various parking options. Convenient access to State St / Third St shopping & dining. The building has three levels, each with 5,720 sf, totaling 17,160 sf. The net leasable area is 11,830 sf, which is 94% occupied. The balance consists of common areas & loss factor.



Value-add investment with future opportunity to improve NOI by gradually increasing rents to market, recovering common areas & some loss factor in space sizes, and filling vacancies.



STREET LEVEL: Unique "arcade" type space with main entrance off State St and a variety retail & office tenants. Current tenants include a dance studio, salon & more.



2ND FLOOR: Single-tenant office suite with reception/waiting area, a mix of private offices & a large vaulted work space. Recently leased to a national civil engineering firm. Sellers are offering a rent guarantee to cover the current 2nd floor lease for three years from closing (based on the current asking price).



LOWER LEVEL (basement): Features thirteen small office suites of varying sizes & configurations. Common waiting area and restrooms.
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Neil Johnson, SVN | Landmark Commercial Real Estate
BRE# 471.012919