Rare Downtown Naperville Mixed-Use
43 E Jefferson Ave
Naperville, IL 60540
Highlights
- Value-Add Mixed Use Building in Downtown Naperville
- 58% Occupancy - Strong Immediate Upside
- Future Opportunity to Expand or Redevelop the Building
- Onsite Parking + Public Parking Deck Immediately Across Jefferson
- Adjacent to North Central College Campus
Description
The Jefferson Hill building is a mixed use restaurant, retail and office property in in downtown Naperville. The original historic 1845 circa building was the home of Francis Kendall, Naperville's mayor from 1913 to 1917.
This value-add investment offers immediate cash-flow with an actual NOI of $227,000 on 58% occupancy. Immediate upside potential through the lease up of 6,500+ SF of retail and office space on the first and second floor. If fully occupied, the pro-forma NOI would exceed $440,000.
Flexible B4 zoning allows for a variety of uses, and the location in Naperville’s parking district allows for development of the parking lot and expansion of the building to approx. 30,000 SF. 2023 Taxes: $58,098.
Located one block east of Washington Street on Jefferson Avenue in Downtown Naperville. Immediate area retail tenants include Athleta, Ramsay's Kitchen, Noodles and Co, Nando's Peri Peri, Gia Mia, ModPizza, Ulta Beauty, Catch 35 and more.
Jefferson Hill is adjacent to North Central College, Naperville Community Concert Center, Wentz Concert Hall, and a municipal parking deck.
