- List Price 1500000
- Price / Unit $115,384
- Property Type Mixed Use
- Units 13
- Current Rents $104,700
- Pro Forma Rents $183,000
- In Place NOI $48,087
- Projected NOI $112,621
- Target CAP Rate 3.2%
- Market CAP Rate 6.5%
- Today's Market Value $800,000
- Value w/Market Rents $1,732,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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About the property
Introducing an exceptional mixed-use opportunity at 205 N Lake St, Aurora, IL 60506. Perfect property for redevelopment or value add! This three-story building spans 14,325 square feet, offering 13,750 square feet of rentable space. The first-floor features three offices/commercial spaces, a rear commercial warehouse/office, while the second-floor hosts four apartments, maximizing the property’s versatility. The potential for value add is significant, as current rents are well below market rates. This as-is sale presents a rare chance to invest in a mixed-use property with untapped potential. Furthermore, its prime location makes it an ideal opportunity for developers looking to capitalize on the growth of Aurora’s downtown area. Additionally, just steps away, 213 N Lake St offers a two-story mixed-use building with a lower level, comprising of office and residential spaces totaling 5,250 sq ft. Featuring six surface parking spaces, and units ranging from 500-700 sq ft, this property offers a compelling opportunity for investors seeking a diverse portfolio in the heart of Aurora.
About the neighbourhood
- Nestled along the banks of the Fox River, Aurora, Illinois, is a thriving city that seamlessly combines historical charm with modern amenities. Known as the
Municipality - Investor Guide
Aurora
| Transfer Stamps | Pre Sale Inspection | Yearly Rental Inspection | |
|---|---|---|---|
| Buyer: N | Cost: None | Required: No | Required: Yes |
| Seller: Y | Cost: $3.00 / $1000 | Cost: $0 | Cost: Varies |
| Notes | |||
| Annual Inspection only required for rental properties. Prior to sale, final water reading is required for all properties and final bill must be. | |||
For a list of all Municipality requirements visit our Municipality Requirements Page
Property Documents
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Property Taxes
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Tax Amount | $17,087.70 | $16,419.94 | $16,753.80 | $16,214.02 |
| YOY Tax Change ($) | +$667.76 | -$333.86 | +$539.78 | +$739.46 |
| YOY Tax Change (%) | +4.07% | -1.99% | +3.33% | +4.78% |
| Current Assessed Value | $193,039 | Source - Public Record For more information on assessments, property taxes, and tax appeals visit: Property Taxes | Assessed - Land | $24,635 | Assessed - Improved | $168,404 |
For more information on assessments, property taxes, and tax appeals visit: Property Taxes
Walkscore
Nearby
- Arts & Entertainment
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Waubonsee Community College Aurora Campus (0.21 mi)
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Old Second Mortgage (0.19 mi)
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Aurora Tap House (0.22 mi)
- Education
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Nova Driving School (0.13 mi)
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Schools Public (0.15 mi)
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Waubonsee Community College Aurora Campus (0.21 mi)
- Food
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Save A Lot (0.05 mi)
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Foremost Liquor Store (0.12 mi)
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Don Walker's Sandwich Center (0.12 mi)
- Health & Medical
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Maximum Level Fitness (0.06 mi)
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Howe William, DDS (0.11 mi)
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Park West Medical & Pain Center (0.12 mi)
Contact Information
- List Price 1500000
- Property Type Mixed Use
- Current Rents $104,700
- In Place NOI $48,087
- Target CAP Rate 3.2%
- Today's Market Value $800,000
- Price / Unit $115,384
- Units 13
- Pro Forma Rents $183,000
- Projected NOI $112,621
- Market CAP Rate 6.5%
- Value w/Market Rents $1,732,000
*Today’s Market Value & Value w/Market Rents is a theoretical value calculation derived by NOI and CAP rate. It does not take any other property factors into account.
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Based on Citypoint’s communication with the seller, the price point listed is a price that the seller should be willing to transact at. Any terms for, or against, the seller can help/hurt this price level.
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