Great property located about 45 minutes outside of Chicago. Included are 38 self-storage units that are 73% occupied. Please do not drive park or speak to residents without owner permission. If sending an offer, please include proof of funds of at least 15% of asking price.

This property also includes two commercial tenants that account for a combined monthly income of $2,060. This amount is included in the NOI calculation.

Phase 1 ESA completed two years ago. We have no problem sharing this with buyer, and buyer is welcome to perform their own during Due Diligence.

Courtside Plaza consists of 24 MH Lots, 21 self-storage units (SS), 12 garage storage units (GS), 3 large garage storage units (LGS), a retail space occupied by an auto shop, and a pump station secured by a ground lease. In the MHP, there are 19 tenant owned homes (TOH) and 5 vacant lots. In the SS building, there are 11 rented units - all 7 large units rented - and 5 vacant units. In the 3 GS buildings, there are 4 rented units and 8 vacant units. In the LGS building, all 3 units are vacant.

The lot rent in the MHP averages $387. The SS rent is $250-$275/month for a large unit and $50/month for a small unit. The GS rent is $60/Month. The auto shop’s rent is $750/month. The LGS units are approximately the same size as the large SS units, so an investor can market these for rent in the $200-$300 range. The pumping station’s rent is $1,350/month. The ground lease on the pumping station expires 12/31/2024 and has four, 1-year options to renew with a $100/month rental increase at each option. All buildings/units on the property are serviced by public water/sewer. For the pumping station ground lease, the tenant pays all related expenses except for real estate taxes; for the autobody shop, the tenant is responsible for liability insurance, electrical and gas and the landlord is responsible for all other expenses; and for the self-storage buildings, the landlord is responsible for all expenses. All leases for the SS, GS, LGS and auto shop are month-to-month. Electricity is billed directly to all
tenants in the MHP. The roads are paved and in below average condition.

This property is NOT in an opportunity zone or flood zone.