1642 Country Lakes Dr. Naperville, IL 60563

Listing Price: $899,000

Number of Units 4
Occupancy 100%
Cap Rate 6%
NOI $54448

Investment Highlights

  • Fully Occupied 4 Unit Building 
  • Desirable Naperville Address
  • Investor or Owner-Occupied Opportunity
  • All Separately Metered Tenant Paid Utilities
  • In-Unit Washers & Dryers
  • Attached One- Car Garages
  • Development Potential 

Map Overview

Investment Overview

A rare find fully occupied 4-unit apartment building for sale in desirable Naperville, IL recently rated one of the best and safest cities to raise children. This property is ideal for the multifamily investor seeking an affluent stable market like Naperville with upside in rents upgrading units, a developer with the area to potentially build another 4-unit building or an investor homeowner that would like to live in one unit for low housing costs collecting rents. Conveniently located on the Northside of Naperville seconds from I-88 E-W Tollway, minutes from the Route 59 Metra train station, and the Fox Valley Shopping District. Each two-bedroom one and a half bath unit has all separately metered tenant-paid gas, electric, water, sewer, and trash utilities. Amenities for each unit include dishwashers, in-unit-owned washer and dryers, central air, and a one-car garage. Three of four units have full basements two of which are finished. Recent improvements include new windows, furnaces, hot water tanks, and all but one air conditioning unit replaced in the past 3-4 years.

 

 

Listing Broker: Shamshad Sanaullah HomeSmart Realty Group 651 N Washington st, Naperville, IL 60563 630-940-7011 (cell) Email:[email protected]

Multifamily For Sale

109 S Whispering Hills Dr
Naperville, IL 60540


TYPE Multifamily
SF 3700
Units 4
BUILT1980
ACRES 0.18
Parking 8 Off-street
OCCUPANCY100%
GROSS INCOME $51600
NOI $36062
CAP RATE 6.74%
PRICE $535000
Continue reading “Apartment Building For Sale 109 S Whispering Hills Dr Naperville IL 60540”

 

A Naperville shopping center that lost a Dominick’s supermarket in 2013 has generated a huge gain for a Chicago developer that filled the empty space with a Mariano’s grocery store.

A joint venture led by Bradford Real Estate has sold Fox Run Square, a 148,000-square-foot property at 1212 S. Naper Blvd., for $78 million to First Washington Realty, a Bethesda, Md.-based real estate investment firm, according to DuPage County property records.

That’s more than triple the  $25.6 million price  that the Bradford venture paid for the shopping center in 2014. The price was so low because Dominick’s had closed its store, leaving the property nearly half empty. It’s so high today because the  Mariano’s opened  about a year ago and the shopping center is full.

“What a great buy on their part,” Derrick McGavic, managing director of  Newport Capital Partners,  a Chicago-based developer who wasn’t involved in the transaction, said of Bradford.

SAFER HAVENS

Though retail bankruptcies, store closings and the rise of e-commerce have fueled  widespread pessimism  about the future of retail real estate, that’s not the case of grocery-anchored shopping centers like Fox Run Square.

Investors have been paying up for the properties, which are perceived as a safe haven in the turbulent retail world. The rise of e-commerce is less of a threat to a grocery store than it is to, say,  Sports Authority,  which went out of business last year.

“There is still a truly large investor appetite for that kind of asset, especially on the institutional side,” McGavic said.

POPULAR CHAIN

Mariano’s are especially popular, generating big returns for developers and investors that have sold properties leased to the supermarket chain. British investment firm IM Properties recently sold three Mariano’s stores for  $116.3 million,  40 percent more than it paid for them a few years earlier. IM Properties was also Bradford’s joint venture partner in Fox Run Square.

May Real Estate, an Oakbrook Terrace-based brokerage, sold Fox Run Square for the venture.

First Washington owns 92 shopping centers encompassing 12.5 million square feet. Fox Run Square is one of five properties the firm owns in the Chicago area, which also includes Roscoe Square, a 140,500-square-foot Mariano’s-anchored shopping center in Chicago’s Roscoe Village neighborhood, and Civic Center Plaza, a 265,000-square-foot shopping center in Niles anchored by a Home Depot.

Source: Crain’s Chicago Business June 6th, 2017 By ALBY GALLUN

naperville-retail-and-office-complex-sells-for-88-million.jpg
Naperville retail and office complex sells for $88 million

Naperville retail and office complex sells for $88 million

Retail Properties of America has paid $88 million for a Naperville retail and office complex in downtown Naperville, where it plans to build on.

The Oak Brook-based real estate investment trust today announced the deal for the 182,000-square-foot Main Street Promenade.

The west suburban center, on the east side of Main Street, is 93 percent leased and is zoned for another phase of construction, RPAI said.

“The acquisition of Main Street Promenade includes a vacant parcel that has approval for up to 62,000 square feet of mixed-use space, which will provide us the opportunity to leverage our robust, local operating platform and knowledge to densify the property,” RPAI senior vice president Matthew Beverly said in the statement announcing the acquisition.

Retail tenants include Anthropologie, J Crew, Ann Taylor and Hugo’s Frog Bar & Fish House.

Main Street Promenade was developed by Dwight and Ruth Yackley, owners of Naperville-based development firm BBM. They developed the property in 2003 and a second phase in 2013.

BBM was represented in the sale by Bob Mahoney and Nick Peters of CBRE. The sale was completed on Jan. 13, the Yackleys said.

“We’re semi-retiring, so we decided it would be a good time to sell,” Ruth Yackley said. “We’re ready to travel and work a little less.”

They declined to say how much it cost to develop the first two phases of the Promenade.

The property includes about 103,000 square feet of retail and 79,000 square feet of office space.

Source: Crain’s Chicago Business Ryan Ori January 17th, 2017

Chinese company bringing more than 200 jobs to Naperville
1203 E. Warrenville Road, site of the new headquarters for Chervon North America.

Chinese company bringing more than 200 jobs to Naperville

A Chinese maker of power tools plans to bring more than 200 jobs to its new North American headquarters in Naperville over the next three years.

Chervon North America, the U.S. arm of Nanjing, China-based Chervon Holdings, confirmed plans to move workers from Michigan and several suburban Chicago locations when it opens a new headquarters in Naperville sometime in the spring.

Earlier today, Crain’s reported the company was moving its headquarters to the western suburb from Grand Rapids, Mich. At the time, it was unclear how many people would work in the facility at 1203 E. Warrenville Road.

Now, the company said it plans to relocate 75 workers from Grand Rapids and the Chicago suburbs of South Barrington and Geneva, spokesman Joe Turoff said in an email. Also moving there will be 37 employees who were added when Chervon completed its acquisition of Mount Prospect-based Robert Bosch Tool’s Skil and Skilsaw brands on Jan. 1, Turoff said.

The company also plans to hire 25 new workers this year and another 75 over the next three years, Turoff said.

Chervon also considered locations in California, Texas, Georgia, North Carolina and Tennessee, Turoff said. The company is not receiving any incentives from the Illinois or Naperville governments, Turoff said.

“In the end our decision came down to three key factors: proximity to talent, proximity to current and acquired employees (and) Naperville’s pro-business attitude,” Turoff said in the email.

The facility will include research and development, industrial design, sales and marketing jobs, he said.

Chervon is subleasing the entire 124,000-square-foot building from Swedish manufacturer SKF Group, which signed a 15-year deal to use the building for offices and R&D. But SKF decided not to move in as the building’s exterior was completed in 2015, and instead began seeking a company to sublease the building.

 

Source: Crains Chicago Business Ryan Ori January 11th, 2017