597 S Lake St
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597 S Lake St
3,600 SF Retail Building Aurora, IL 60506 $627,014 CAD ($174 CAD/SF) 9.50% Cap Rate
Investment Highlights
- Dual Income Streams: The property cleverly combines a high-visibility retail space on the main floor with a spacious 3-bedroom apartment upstairs.
- Ample parking with a 2.5-car garage and private lot, along with a full basement for the retail space offering extra storage or expansion potential.
- Separate Utilities: Each unit having its own utilities simplifies management and ensures tenants are responsible for their own consumption.
Executive Summary
**Prime Aurora Investment Property with High-Visibility Retail Space**
This fully updated property presents an exceptional investment opportunity in a prime Aurora location. Ideal for owner-occupiers or investors seeking a turnkey solution, this property features:
* **Ground Floor Retail:** High-visibility storefront with a full basement for storage or expansion, plus ADA-compliant access.
* **Income-Generating Apartment:** Spacious 3-bedroom, 2-bathroom apartment on the upper level, fully renovated with modern amenities including a laundry room, sunroom, and updated kitchen.
* **Separate Utilities:** Each unit is separately metered for efficient management and tenant responsibility.
* **Ample Parking:** Includes a 2.5-car garage and a private parking lot for tenant and customer convenience.
* **Recent Updates:** New roof, siding, and gutters (2024) ensure minimal maintenance and worry-free ownership.
**Maximize your investment potential with this versatile property!**
**Contact us today to schedule a showing or for more information.**
**Serious inquiries from pre-approved buyers or those with proof of funds only.**
**Key Changes for LoopNet:**
* **Emphasis on Commercial Aspect:** The listing highlights the retail space and its features upfront.
* **Concise and Direct Language:** Uses strong, concise language to attract attention and convey key information quickly.
* **Call to Action:** Encourages potential buyers to take the next step by contacting the seller.
* **Target Audience:** Focuses on investors and owner-occupiers looking for a turnkey commercial property.
* **Professional Tone:** Maintains a professional tone throughout, suitable for a commercial real estate platform.
This fully updated property presents an exceptional investment opportunity in a prime Aurora location. Ideal for owner-occupiers or investors seeking a turnkey solution, this property features:
* **Ground Floor Retail:** High-visibility storefront with a full basement for storage or expansion, plus ADA-compliant access.
* **Income-Generating Apartment:** Spacious 3-bedroom, 2-bathroom apartment on the upper level, fully renovated with modern amenities including a laundry room, sunroom, and updated kitchen.
* **Separate Utilities:** Each unit is separately metered for efficient management and tenant responsibility.
* **Ample Parking:** Includes a 2.5-car garage and a private parking lot for tenant and customer convenience.
* **Recent Updates:** New roof, siding, and gutters (2024) ensure minimal maintenance and worry-free ownership.
**Maximize your investment potential with this versatile property!**
**Contact us today to schedule a showing or for more information.**
**Serious inquiries from pre-approved buyers or those with proof of funds only.**
**Key Changes for LoopNet:**
* **Emphasis on Commercial Aspect:** The listing highlights the retail space and its features upfront.
* **Concise and Direct Language:** Uses strong, concise language to attract attention and convey key information quickly.
* **Call to Action:** Encourages potential buyers to take the next step by contacting the seller.
* **Target Audience:** Focuses on investors and owner-occupiers looking for a turnkey commercial property.
* **Professional Tone:** Maintains a professional tone throughout, suitable for a commercial real estate platform.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
-
|
-
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
3,600 SF
Building Class
C
Year Built/Renovated
1915/2014
Price
$627,014 CAD
Price Per SF
$174 CAD
Cap Rate
9.50%
NOI
$59,566 CAD
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.46
Lot Size
0.18 AC
Zoning
Commercial - Retail stores
Restaurants
Offices
Personal services
The property's existing conf as a mixed-use building with ground-floor retail main and res top fl.
Parking
9 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 15-28-127-046 | Total Assessment | $102,702 CAD (2023) |
| Land Assessment | $7,962 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $94,740 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
15-28-127-046
Land Assessment
$7,962 CAD (2023)
Improvements Assessment
$94,740 CAD (2023)
Total Assessment
$102,702 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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