Single Tenant Industrial Investment

411 Union St Geneva, IL 60134

411 Union St, Geneva, IL, 60134
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FOR SALE
Property Type:
Factory
Amount:
$1,770,000
Last Verified:
Dec 12, 2024

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Highlights

  • Sale price reduced by $180,000!
  • Long term, sticky tenant
  • NNN lease with minimal landlord responsibilities
  • Potential for future redevelopment

Description

PRICE REDUCED! Now asking $1,770,000 for this 37,000sf freestanding industrial building on 2.68 acres. Heavy power. 3 docks and 1 drive-in door. Brand new storage shed.

The tenant, Olon Industries, manufactures woodworking components for furniture and cabinets, and has been in business for over 40 years. They have been tenants since 2007, and signed a new 3-year lease in September 2024. Tenant has invested heavily in the building infrastructure as it is a critical part of their North American operations. Under the triple net lease structure, the tenant pays for real estate taxes, insurance, and general maintenance; landlord is only responsible for the roof.

Located in the heart of Geneva. 4 min to Geneva train station (Union Pacific West Line). 15 min to I88 via Rt 31. 50 min to Chicago O'Hare International Airport.


Year Built: 1935
Building Size: 37000sq ft
Lot Size: 2.68 acres


Documents

Sale Brochure - 411 Union St Geneva - Revised 10-25-24

Map of 411 Union St, Geneva, IL, 60134

What are Real Estate Incentives?

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."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.