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810 12th Street

LAWRENCEVILLE, IL 62439
  • $299,000
  • STATUS: Active Under Contract
  • ON SITE: 102 Days
  • MLS #: 11443281
Under Contract
UPDATED: 62 min ago
$299,000
  • 0
    BEDS
  • N/A
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Commercial
Built:
1907
County:

School Ratings & Info

Description

The Phoenix is a mixed-use opportunity in Lawrenceville, IL. The building was constructed in 1907, and gutted within the past five years to bring it back to its original glory (thus the name, The Phoenix). The building now has new plumbing & electrical, new flooring, and new vinyl windows. They left the original brick to keep its original charm, and it gives the building a nice industrial feel. The entire roof was removed and replaced with a brand new Duralast commercial grade fabric roof. The tops of the building were reinforced with steel plates and wire. An adjacent parking lot is also included in the sale of this property. The main level of The Phoenix is currently occupied by a restaurant that goes by the same name. The building is owned by the operator of the restaurant, and he is interested is a potential lease-back scenario. Should the buyer of this building want to be an owner operator as well, the seller is negotiable on terms to sell the restaurant and the restaurant equipment. The owner also believes that the lower level would be a great future location for additional apartments. A brand new $27,000 digital sign for the restaurant was just added. The owner did a magnificent job of creating three loft style apartments above the restaurant. Two are smaller (1 bedroom units and 500-600 square feet), the other unit is a HUGE two-bedroom with a loft (approximately 1,700 square feet). The three rentals are bringing in $2,580/month in rental income. The owner is currently including all utilities with the current rent.

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© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-10-03T10:06:18.23 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

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810 12th Street LAWRENCEVILLE, IL 62439

  • Price: $299,000
  • Status: Active Under Contract
  • On Site: 102 Days
  • Updated: 62 min ago
  • MLS #: 11443281
0
Beds
0
Baths
0
½ Baths
N/A
Acres
1907
Built
Neighborhood:
Out Of Area South
County:
Other
Area:
Out Of Area South
Property Description
The Phoenix is a mixed-use opportunity in Lawrenceville, IL. The building was constructed in 1907, and gutted within the past five years to bring it back to its original glory (thus the name, The Phoenix). The building now has new plumbing & electrical, new flooring, and new vinyl windows. They left the original brick to keep its original charm, and it gives the building a nice industrial feel. The entire roof was removed and replaced with a brand new Duralast commercial grade fabric roof. The tops of the building were reinforced with steel plates and wire. An adjacent parking lot is also included in the sale of this property. The main level of The Phoenix is currently occupied by a restaurant that goes by the same name. The building is owned by the operator of the restaurant, and he is interested is a potential lease-back scenario. Should the buyer of this building want to be an owner operator as well, the seller is negotiable on terms to sell the restaurant and the restaurant equipment. The owner also believes that the lower level would be a great future location for additional apartments. A brand new $27,000 digital sign for the restaurant was just added. The owner did a magnificent job of creating three loft style apartments above the restaurant. Two are smaller (1 bedroom units and 500-600 square feet), the other unit is a HUGE two-bedroom with a loft (approximately 1,700 square feet). The three rentals are bringing in $2,580/month in rental income. The owner is currently including all utilities with the current rent.
Exterior Features

Exterior Building Type Brick Frontage Type City Street Parking Total 12 Roof Structure Other

Interior Features

Cooling Central AirWall Sleeve Heat Ventilation Central Bldg HeatCentral Heat/Indiv Controls Number Of Dryers 2 Number Of Ranges 3 Number Of Washers 2

Property Features

Additional Parcels YN Yes Approximate Age New Rehab Building Area Total 5600 Built Before1978 YN Yes Contingency Attorney/Inspection Continue To Show Yes Current Use Commercial Electric Circuit BreakersService - 201 To 600 Amps Fire Protection Fire Extinguisher/S Geographic Locale Out Of AreaCentral Illinois Gross Income 0 Gross Scheduled Income 0 Insurance Expense 0 Location Central Business District Mls Actual Status Contingent Possible Use CommercialMulti-Family Rental Price 0 Tax Annual Amount 1831 Tax Year 2020 Tenant Pays Varies By Tenant Total Monthly Income 0 Township Lawrence Type Mixed Use Zoning Commr

Listing information © 2022 Midwest Real Estate Data LLC.
Listing provided courtesy of Mr. Landman: 217-202-0924.


© 2022 Midwest Real Estate Data LLC. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MTP, MRED or @properties. Based on information submitted to the MRED as of 2022-10-03T10:06:18.23 UTC. All data is obtained from various sources and has not been, and will not be, verified by broker or MRED. MRED supplied Open House information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some properties which appear for sale on this website may subsequently have sold and may no longer be available. NOTICE: Many homes contain recording devices, and buyers should be aware they may be recorded during a showing.

Digital Millennium Copyright Act
 
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