7 N High St - Office/Residential FOR SALE


Belleville, IL 62220
$1,700,000 USD
618-580-6390
7 N High St, Belleville, IL for Sale
$1,700,000 USD
Office/Residential - FOR SALE
1/2
null | Request Cap Rate

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7 N High St
Belleville, IL 62220


HIGHLIGHTS

  • Residential conversion on upper floors
  • Ideal for mixed use
  • Office space on 2nd floor and retail space on 1st floor
  • 2 buildings and 1 parking lot with 65 spaces
  • Roof top lease with AT&T
  • Near proximity to Belleville Square

OVERVIEW

A very well maintained 4 story building at the center of Belleville, IL, steps from the County Courthouse. The tallest building in the area allows for a AT&T cell tower on the roof. The Buyer could sell these rights for $560,000 at Closing and use the money as their down payment, plus have extra for improvements. This Broker would convert the 7 N High building to a boutique Hotel. An innovative idea to use the adjacent building (25 E Main) for the lobby, restaurant, and bar, while dedicating all of 7 N High to hotel rooms, could yield a room count between 60 and 72. A lot of upside with this building. Tuckpointing, electric and plumbing all done in 1993. Elevator, roof and HVAC units also done at that time.

FOR SALE DETAILS

PRICE

$1,700,000 USD

PRICE/SF

$45 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Market Square

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Office Live/Work Unit

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

C

YEAR BUILT

1910

SPRINKLERS

-

PARKING SPACES

72

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

C-2

APN/PARCEL ID

08-21.0-439-028

ASK ABOUT THIS PROPERTY

Terry HeimannGateway Commercial Real EstateMore Info
618-580-6390

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Terry HeimannGateway Commercial Real EstateMore Info
618-580-6390

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.