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$ 450,000
Est. payment | /mo
39,727 SqFt
$ 450,000
Est. payment | /mo
39,727 SqFt
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
Square Footage 39,727 sqft
Price per Sqft $11
MLS Listing ID 12520381
Year Built 1937
Tax Year 2024
Lot Dimensions 221498
Property Sub-Type Mixed Use
Property Description
This 39,727-square-foot former school on 5.08 acres presents a compelling investment opportunity with stable in-place income and strong long-term potential. The property is anchored by a well-established private therapeutic day school occupying the entire second floor, providing reliable cash flow from a tenant with consistent demand for its services. Built in 1937, the structure is all brick and remains in solid overall condition, offering durable construction and reduced long-term capital expenditure exposure. The building's infrastructure is well suited for institutional use or adaptive reuse, featuring an 800-amp electrical service, a steam heat boiler system, and window air-conditioning units in most classrooms. A full gymnasium with a stage enhances functionality, while the full basement adds meaningful versatility with a cafeteria, abundant storage, a dedicated boiler room, and egress windows in most basement classrooms, supporting compliant educational or programmatic use. The property also includes a fenced playground, expansive grounds suitable for outdoor activities or expansion, and a detached two-car garage offering additional storage or operational support space. A flat rubber roof was recoated in 2021 and carries a ten-year warranty, reducing near-term maintenance requirements for an investor. With its combination of stable tenancy, strong physical fundamentals, and sizable acreage, this property offers multiple avenues for future value creation-whether through continued educational use, re-tenanting strategies, expanded programming, or broader redevelopment.
Location
State IL
County Lee
Area Dixon / Nelson
Zoning OTHER
Interior
Cooling Window Unit(s)
Fireplace N
Building
Dwelling Type Mixed Use
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Listed by Tyler Stacey of Crawford Realty, LLC
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