The StopulosTeam
Description
Outstanding and very recognizable Hines Building Brick 2 Story with 14000 SF on a corner lot with multiple storefront/addresses. Currently being used as an office building but could easily be retail store spaces on the first floor and converted to residential use on the second floor. This building was completely remodeled in the 90's and has been maintained and upgraded intentionally since that time. New roofs on all the buildings in the past 4 years. Updated HVAC system's. Updated Electric throughout with copper wiring. New Exterior paint. Many of the windows are Pella with 1 glass. There is a Generac back up generator. The water service was upgraded and is set up for sprinklers to be added. The building is designed with a main entrance at 113 E. Highland. There are three storefront buildings along Douglas that are currently adjoining (20,22 and 24). The address 115 E. Highland is for the former bank space. The second floor of the bank space and 24 and 22 Douglas are all office space. The second floor of 20 Douglas is unfinished vacant space. The basement is partially finished. There are multiple baths and kitchenette spaces throughout. The ceiling height in much of the building is 14'-16' with tin ceilings. Beautiful original features as well as modernized upgrades. This building embodies an important place in downtown Elgin's history and it has been lovingly cared for and maintained, making it the perfect investment for the next owner. Also included in this sale is 113 E. Highland Ave. which has a PIN of 06-14-283-020.
Property Highlights
Property Type: Commercial - Business
Building Description: 2.0 stories
Year Built: 1881
General Information
County: Kane
Listed By:
RE/MAX Horizon
847-931-7500
MRED MLS
MLS ID: 12588163
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20-24 Douglas Avenue, Elgin, IL 60120.
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| Loan Type | 30 Year Fixed | FHA 30 Year Fixed | 15 Year Fixed |
| Purchase Price | $990,000 | $990,000 | $990,000 |
| Down Payment | $198,000 | $34,650 | $247,500 |
| Monthly Mortgage Amount | $4,622 | $5,750 | $6,018 |
| Taxes | $1378 | $1378 | $1378 |
| Insurance | $100 | $100 | $100 |
| HOA/Dues/Fees | $0 | $0 | $0 |
| Monthly Mortage Insurance | $0 | $594 | $0 |
| Monthly Estimated Total | $6,289 | $8,011 | $7,685 |
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