505 E North Avenue,
505 E North Avenue Carol Stream, Illinois 60188 United States

505 E North Avenue
505 E North Avenue Carol Stream, Illinois 60188 United States

$6,250,000USD
 

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505 E North Avenue

About 505 E North Avenue, Carol Stream, Illinois

LEASE INFO: This is a 70,000 SF, multi-tenant office building with 30,000 SF available office/flex space located on the first floor along with a 10,000 SF second floor vacant office available for lease. The first-floor space can demise down to 5,000 SF spaces. The ground floor was previously the Village of Carol Stream offices and is fully built out office space. The second-floor space is accessible by two stairways and is currently being used for storage. It can be built out into office space or as additional dry storage space. The vacancies have high ceilings, built out offices and open space which can be used for cubicles or an open work area. The rear first-floor space could be ideal as flex space, and roll up delivery doors can be added to the alley side of the building to allow for delivery trucks access from the alley via North Avenue or Schmale Road. The property has abundant free parking in front of the building. Additionally, there is secured parking in the rear, which can be leased out separately. The property is extremely well located directly on North Avenue just west of the main lighted intersection of Schmale and North Avenue. The property has five access points including two front access driveways from North Avenue, a side alley which accesses North avenue along with and a rear road, Phillips Court, which provides easy access to Schmale Road. SALE INFO: The subject property is a 70,000 square foot flex and office building located directly on North Avenue in Carol Stream. The property has two tenants occupying 20,000 square feet and the owner is providing a three year master lease for the two tenants and an additional 10,000 square feet of available space for a total of 30,000 square feet. Additionally, there is one 40,000 square foot vacancy on the first floor which is divisible to 5,000 square feet and a 10,000 square feet on the second level also vacant. The property is located in DuPage County providing for relatively low real estate taxes as compared to surrounding counties. The property is very well located directly on North Avenue just west of the lighted intersection of Schmale Road and North Avenue. The property has five access points to both North Avenue and Schmale Road. There is an alley that runs along the side of the building with access to North Avenue and Schmale Road, a rear road accessing Schmale Road and two drives accessing North Avenue. There is abundant parking with a ratio of over 5 spaces per 1,000 square feet of rentable area, and the parking is easily accessible from the building entrances. The current first floor vacancy of 40,000 square feet was most recently the Village of Carol Stream offices. There is a full office build out including high ceilings, multiple restrooms, built out offices, open space for cubicle or open work space and abundant storage area. The second-floor vacancy is 10,000 square feet with high ceilings and recently constructed men and women's multi-stalled restrooms with high-end finishes. The space is ready to be built out for an office space or ideal for additional storage. The second floor is accessible by two stairwells. There is also a plan showing the proposed location for an elevator, should a new owner decide to add.

Listing Courtesy of Sperry Van Ness

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Property ID:10953912

Listing Courtesy of Sperry Van Ness