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Vassi Saviano
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(847) 364-6030
Mobile Phone:
(312) 615-0530
vsaviano@
yourpad.com
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FOR SALE
$1,445,000

1118 Morse Avenue
Schaumburg, IL 60193

Other
Residence
20,620
Sqft
1.08
Lot Size
1of
Photos
Map
Courtesy: Sperry Van Ness
The subject property is a two-tenant, 20,620 square foot industrial property, located in Spectrum Industrial Park on the south side of Schaumburg, along the Elgin O'Hare Expressway (IL-390). The building has a total of three drive-in doors and two interior loading docks and has the ability to be subdivided into three separate units. The ceiling height is 14' clear. A portion of the roof was re-done several years ago with a remaining 8 year warranty which can be transferred to a new owner. The property is situated on 1.08 acres with the parking lot in the back of the building, and overall the property is in good condition. The building is located in the County of Cook, with relatively low real estate taxes for the area. Currently, the building has one 10,000 square foot vacancy and one occupied 10,620 SF space. The tenant is Mercury Products who has been in the building for the past 3 years. Mercury Products has a one-year lease expiring at the end of February, 2022. They have been renewing annually for the past 3 years. Mercury Products pays a monthly gross rent of $8,100. The short term lease allows a new owner to either expand into the occupied unit, or increase the rent at the next renewal. The property offers an ideal opportunity for an owner/user investor to utilize the income while occupying half of the building, or allows an investor to increase value by leasing to a new tenant. The estimated increase in value is $98,000 after expenses based on a rent of $9.50/SF.
10993758
Other, 1 Story
Cook
1988
1.08 Acres
1
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Walk Score

Transit Score

Courtesy: Sperry Van Ness
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