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116 S Prospect Avenue, Park Ridge, IL 60068
$1,299,000
116 S Prospect Avenue, Park Ridge, IL 60068View this property at 116 S Prospect Avenue, Park Ridge, IL 60068
116 S Prospect AvenuePark RidgeIL60068
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Property Description
Unique Value add property available for sale. The building is composed of ground floor space, a lower level, as well as a second floor with a dedicated elevator. The sale comes with the plans to convert the second floor into a massive luxury apartment overlooking uptown. The first floor and lower level are ready to be leased. Recently signed a new lease to a national retailer for a portion of the ground floor, immediately adding value to the property. Buildout construction to begin on newly leased space. Please contact for any information on rental income and spaces available.
Full Property Details
Full Property Details for 116 S Prospect Ave
General
- Price: $1,299,000
- Taxes: $35,922 (2022)
- Status: Active
- Type: Store
- MLS ID: 12032146
- Updated: 4/23/2024
- Added to Site: 13 day(s) ago
Additional Information
- Security/Safety: Other
Parking
- Parking Features: 1 to 5 Spaces
Location
- Area: Park Ridge
- County: Cook
- Driving Directions: Head south towards Uptown Park Ridge on Prospect Avenue. You'll find 116 S Prospect Ave right across from City Hall.
- Location Details: Northwest Suburban
Heating & Cooling
- Cooling Type: Central Individual
- Heating Type: Central Heat/Individual Controls
Structural Information
- Construction: Brick
- Exterior Const.: Brick
- Foundation: Concrete Perimeter
- Roof: Rubber
- Stories/Levels: 3
- Square Feet: 8,330
- Current Bldg. Use: Commercial
- # of Stores: 1
- Year Built: 1938
- Built Before 1978: Yes
Unit Information
- # Tenants: 1
Lot Features
- Lot Size (Sq. Ft.): 7,000
- Lot Dimensions: .26
- Frontage: City Street
- Drainage: Other
- Zoning: COMMR
Financial Considerations
- Lease Price: $29
- Security Deposit: Other
- Assessment Year: 1938
- Tax Amount: $35,922
- Tax Year: 2022
- Tenant Pays: Taxes, Insurance, Repairs
Disclosures and Reports
- Property ID: 9352030230000
Listed by Troy Realty Ltd
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Schools
Schools serving 116 S Prospect Ave
School Districts:Park Ridge Community Consolidated School District 64, Maine Township High School District 207
Rating | Name | Grades | Distance |
---|---|---|---|
1001 S Fairview Ave, Park Ridge, IL 60068 | K-5 | 0.7 mi | |
Jefferson School
8200 W Greendale Ave Ste 1, Niles, IL 60714 | PK-PK | 1.2 mi | |
200 S Lincoln Ave, Park Ridge, IL 60068 | 6-8 | 0.6 mi | |
1111 S Dee Rd, Park Ridge, IL 60068 | 9-12 | 1.2 mi |
Disclaimer: School ratings provided by
GreatSchools. Ratings are on a scale of 1-10.
Learn more about GreatSchools ratings.
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 116 S Prospect Ave
Date
Details
Price
Change
Source
4/17/2024
Listed
$1,299,000
-80.47%
MLS
5/20/2022
Sold
$6,650,000
—
Public Record
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Tax History
Tax History for 116 S Prospect Ave
Year
Property Taxes
Change
Tax Assessment
Change
2022
$35,922
-10%
$138,127
5%
2021
$39,862
4%
$131,064
—
2020
$38,280
12%
$131,064
—
2019
$34,160
32%
$131,064
44%
2018
$25,969
-20%
$90,747
-20%
2017
$32,323
4%
$113,434
—
2016
$31,124
-12%
$113,434
-1%
2015
$35,225
2%
$114,210
—
2014
$34,531
6%
$114,210
—
2013
$32,708
-15%
$114,210
-27%
2012
$38,350
—
$156,809
—
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
Estimate the Cost
Estimate the Cost for 116 S Prospect Ave
116 S Prospect Avenue, Park Ridge, IL 60068 (MLS# 12032146) is a Store property. 116 S Prospect Avenue is currently listed for $1,299,000 and was received on April 17, 2024. Want to learn more about 116 S Prospect Avenue? Do you have questions about finding other Store real estate for sale in Park Ridge? You can browse all Park Ridge real estate or contact a Coldwell Banker agent to request more information.