1118 Morse Avenue

Schaumburg, IL
$ 1,445,000 Beds 0 Baths 0 Sq 20,620
Monthly Estimate* How much can I afford?

The subject property is a two-tenant, 20,620 square foot industrial property, located in Spectrum Industrial Park on the south side of Schaumburg, along the Elgin O'Hare Expressway (IL-390). The building has a total of three drive-in doors and two interior loading docks and has the ability to be subdivided into three separate units. The ceiling height is 14' clear. A portion of the roof was re-done several years ago with a remaining 8 year warranty which can be transferred to a new owner. The property is situated on 1.08 acres with the parking lot in the back of the building, and overall the property is in good condition. The building is located in the County of Cook, with relatively low real estate taxes for the area. Currently, the building has one 10,000 square foot vacancy and one occupied 10,620 SF space. The tenant is Mercury Products who has been in the building for the past 3 years. Mercury Products has a one-year lease expiring at the end of February, 2022. They have been renewing annually for the past 3 years. Mercury Products pays a monthly gross rent of $8,100. The short term lease allows a new owner to either expand into the occupied unit, or increase the rent at the next renewal. The property offers an ideal opportunity for an owner/user investor to utilize the income while occupying half of the building, or allows an investor to increase value by leasing to a new tenant. The estimated increase in value is $98,000 after expenses based on a rent of $9.50/SF.

Commercial

  • Price
  • $ 1,445,000
  • Lot Size
  • 1.08 Acres
  • Bedrooms
  • 0
  • Sqr Footage
  • 20,620
  • Full Bathrooms
  • 0
  • Year Built
  • 1988
  • Half Bathrooms
  • 0
  • City, Zip
  • Schaumburg
  • Taxes
  • 82086
  • County
  • COOK
  • Style
  • Area
  • Schaumburg
  • MLS#
  • 10993758
  • Zip
  • 60193
Listing Provided by: Sperry Van Ness
Data Source: Midwest Real Estate Data LLC

Features

General

Cooling Central Air
Property Type Instut/To Develop
Property Type Commercial Sale
Standard Status Active
Stories 1
Tax Annual Amount 82086
Zoning INDUS

Exterior Features

Building Area Total 20620
Lot Dimensions 1.08
Lot Size Acres 1.08

Room Details

Dining Room
Family Room
Living Room
Master Bedroom

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Affordability Calculator

$2,869

Per Month

Based on the average sale price from the Loves Park, IL office

  • Monthly Principal & interest $1,740
  • Monthly Property Taxes $1,062
  • Monthly Home Insurance $67
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Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA, or jumbo loans.

Schools

Elementary School Unknown Elementary School
Middle School Unknown Middle School
High School Unknown High School

Price History

2/12/2021 Listed $1,445,000

Property vs Zip Code Average in 60193

Price
AVG $180K
$1.45M
Taxes
AVG $39,123
$82,086
Visits
AVG 79
35
Year Built
AVG 1979
1988
Walkscore
AVG 53
31
Data Provided by Walkscore ® not using MLS data

Map

Areas That We Cover

1118 Morse Avenue Schaumburg, IL is a Single Family Home for sale at $1445000 with 20620 sqft and a lot size of 1.08 Acres Acre(s). 1118 Morse Avenue Schaumburg has 0 bedrooms, 0 baths and was built in 1988. The property's zip code is 60193 which is in Schaumburg, IL

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 3.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

All information deemed reliable, but not guaranteed, and should be independently verified. The real estate information and related content displayed on this site is provided for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.