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490,000 Square Ft. Commercial Building in Sterling, IL to be Auctioned to Highest Bidder

April 29, 2010

A 490,000 sq. ft. multi-use commercial building located in Sterling, IL will be sold to the highest bidder. Located just 80 miles west of the Chicago metro area, this property has an approximate replacement value of $24 million and is subject to a minimum bid of $900,000.

THE BUILDING:

  • 19 Loading Docks
  • 3 Floors, High Ceilings
  • 2 City Blocks of Parking
  • Over 20,000 sq ft of Offices
  • Roof Updated in 2008
  • 90,000 sq ft Reinforced Concrete Bldg.

THE LOCATION:

  • Center of Town
  • Potential Rail Access
  • Access to East/West Rte 88 Superhighway

THE OPPORTUNITY:

  • Annual R.E. tax bill of $7K
  • $115K annual rental income on only 73,000 sq ft (Walmart + 3 other tenants)
  • Multi-use options as warehouse, distribution center, manufacturing
  • $2M City of Sterling improvements in progress
  • City Park planned between building and river front
  • Billions in federal “green energy” investment planned

Property Location: 301 3rd Street, Sterling Illinois (View Map)

On Site Inspections: 11 a.m. to 1 pm, June 4, 9 & 17

Auction Location: Hyatt Lisle – 1400 Corporetum Drive, Lisle, IL 60532

AUCTION DATE: June 23, 2010

To view detailed property information for this building please visit.  Or, contact Rick Levin & Associates, Inc. at (773) 252-4500 or email us at rick@ricklevin.com

View a video of the property

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