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Volo, ILCommercial
Two (2) Industrial Condos in Volo, IL
Volo, IL
- Status
- Sold
- Sold for
- $704,000
- Market
- Volo, IL
For sale
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Volo, ILCommercial
Volo, IL
Sold
This asset has sold for $704,000. The record stays published — the terms, the photography and the process are the evidence for how the next one gets handled.
5 photographs — scroll the strip or choose a frame below.
SOLD
Cooperating Broker’s Commission: 2%
Unit Size: Approx. 16,000 SF (Approx. 8,000 SF Each Unit)
Ceiling Height: 16′
Electrical: 277/480V 3 Phase Power (Each Unit)
Ceiling Gas Heaters: 3-4
2019 Taxes: $14,019.86 (Unit 403) PIN #: 09-02-102-027
2019 Taxes: $11,230.32 (Unit 404) PIN #: 09-02-102-028
Association Dues: Unit 403: $9,636/YR Unit 404: $9,636/YR
NOI: $56,000/YR
These 2 Industrial condominium units are part of a 4– unit building built in 2002. They are connected internally and occupied by a single tenant who is a commercial manufacturer with a strong occupancy and rental history. Each unit has independent commercial drive in doors and loading docks. They also have separate gas and 277/480V 3 Phase power. Heating is provided by 3-4 overhead gas powered heating systems. The roof is constructed with a Firestone rubber membrane. All roofing, HVAC, driveways, landscaping and brick tuckpointing are regularly maintained and covered by HOA fees (including exterior building insurance). These pristine, fully leased units are offered at an 8% Cap Rate. The units are offered as a package, not individually.
This area of Volo is growing both commercially and residentially. These units are in a thriving commercial complex that includes a stable children‘s day care center. Located near the intersections of Route 120 and Route 60, the average car count per day exceeds 24,000.
The units are located approximately 5 miles West of I-294, at the intersections of Route 60 and Route 120.
This asset is no longer available. The process that sold it — the marketing, the buyer pool, the reporting a court or a credit committee will accept — is the part that transfers.
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A Comparable Mandate
This transaction is published in full because the record is the argument. If you are holding something similar — as owner, lender, receiver or counsel — that is the conversation to have.