2 Bedroom Home For Sale in Des Plaines, IL

2501 E. Oakton Elk Grove Village, IL 60018

Calling all Investors! Calling all Investors! This is a dream opportunity you do not want to miss! Successful twenty year owner is ready to move on from this fantastic commercial retail and storage unit, rental, income property. Perfectly positioned on a busy street in a central location, Rite Storage & Strip Center is at 2501 East Oakton Avenue in Elk Grove Village less than a block from Route 83 and near Route I90 toll road. Step right in and you will not miss a beat, this a turn key operation with low maintenance and expenses. Enjoy immediate investment security as 13 out of 14 retail units are currently leased, many by long time tenants and many into 2007. Also impressive is the 504 multiple sized storage units currently at an approximate 70% rental capacity offering continuous monthly income. The only advertising expense has been for Yellow Page ads for approximately $12K annually. If this already seems to good to be true, hold on because it gets even better. This entire 4.25 acre property with both retail & storage rental units can be fully operated by one individual property manager. Plus, that is the only position to employ. Now that is personnel management made easy! One of many things you will need not worry about is the roof. A brand new, shingled roof top with 30 year warrantee was installed in 2003 over the retail shops. Then the ample sized front parking lot and all driveways throughout were freshly paved in 2004 making for a crisp clean look and smooth riding. Add to the bonus equation, a new electronic security gate in 2000, operated with a card insert system for easy convenient tenant issue and organization. This awesome property is further equipped with bright security lights around and a surveillance camera out front of the strip center. This also is a great location and investment because it offers built-in customers for the storage units and your retail vendors, right across the street in a large apartment complex. Each retail unit is approximately 16 feet by 40 feet with one bathroom and built out to suit the need. Each unit is also individually metered so able to pay their own electric. A exceptional variety of shops in this convenient strip center include S & S Foods, Gayatrri Foods, Mickey`s Grill, Insure Now, Star Shoes, Save on Print, ENGS, a computer store, 2 apparel shops, a travel agent & realtor. The 504 storage units offer a nice variety of sizes including 6 by 10, 10 by 10, 10 by 15, 10 by 20, 10 by 25 and finally 10 by 30. Basically, you have something for everyone. You can anticipate the strip units bringing in about $11,500 per month and the storage units bring in another approximate $32,000 per month. This current owner has general annual maintenance expense of about $3000, with about $600 for landscaping & $600 for scavenger service. Snow removal has ranged from $3,500 to $5,500 depending on the season & the manager has been paid about $700 per week. There also is an expansive rental office building with all the amenities. In addition to a front office space there is a complete full bath, a large open kitchen space with adjacent sitting area, a back room and a private room off the main hall. This building has sleek ceramic tile floors & potential for creative growth. Take a good hard look at this investment opportunity. They do not come along like this often. Everything is in place & ready for you to assume the continuous monthly rental income. There is not much to do, but financially qualify and make your offer! This is a dream investment opportunity you do not want to miss! Take the virtual tour at www.buyowner.com enter C H I 7523.