Rare Downtown Naperville Mixed-Use

43 E Jefferson Ave Naperville, IL 60540

43 E Jefferson Ave, Naperville, IL, 60540
43 E Jefferson Ave, Naperville, IL, 60540 43 E Jefferson Ave, Naperville, IL, 60540 43 E Jefferson Ave, Naperville, IL, 60540 43 E Jefferson Ave, Naperville, IL, 60540 43 E Jefferson Ave, Naperville, IL, 60540 43 E Jefferson Ave, Naperville, IL, 60540 43 E Jefferson Ave, Naperville, IL, 60540
FOR SALE
Property Type:
Restaurant
Amount:
$4,400,000
Last Verified:
May 23, 2024

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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.


Year Built: 1845
Building Size: 16954sq ft
Lot Size: 0.37 acres

Map of 43 E Jefferson Ave, Naperville, IL, 60540

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Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

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