Mixed Use - Elizabeth, IL
Historic former “Commercial Hotel” built in 1894. It has been operated as a 6-unit apartment building with the current building owner operating a gift shop on a portion of the main floor for the past 17 years. The gift shop (which also has central air conditioning) could be converted to additional apartment space. This 2-story brick building is located across the street from the Chicago Great Western Railway Museum. The former hotel operated for 59 years until it was closed on December 23, 1953. The owners have tried to maintain many of the architectural features of the former hotel and even have a few pieces of furniture from the hotel, which could be purchased on a separate bill of sale. The six apartments are all 1 bedroom/1 bath with natural gas and electricity separately metered and all but one include a stove & refrigerator. Apartment rents ranged from $350 to $425/month when occupied. Apt. #4 (main floor) is the only unit currently occupied at $375 plus heat only. No rent allocated for retail shop which occupies the balance of main floor. Landlord pays for taxes, insurance, garbage and water. The property includes an adjacent frame storage/garage structure. Owner financing possible w/20% down. (kb41)
Would you like more information regarding this property?
Please call (815) 777-2800.
Data Provided by:
Realtor Association of Northwestern Illinois