Investment & Redevelopment Opportunity

Highlights:

• Mixed-use 7,550 SF two-story commercial building
• Prime location in the heart of downtown Geneva
• Three retail tenants on first floor
• Second floor is vacant apartment space needing total rebuild
• Built in 1915, features classic character and appeal
• Flexible D-CM zoning
• Recently awarded grant for façade & fire-safety upgrades
• Prominent signage opportunities for maximum visibility
• Convenient access to local amenities and major thoroughfares

Description:

INVESTMENT & REDEVELOPMENT OPPORTUNITY: 214-218 W State St is a vintage, mixed-use 7,550 sf, two-story masonry commercial building in the heart of downtown Geneva. The first floor is occupied by three retail tenants: a game store, florist, and barber shop. The second floor consists of former apartment space that has been vacant for many years. This level would require a total rebuild. Architectural concept drawings are available.

Built in 1915 by the seller’s great grandfather, the building offers classic character in a prime location. This property has positive initial cash flow, plus excellent potential redevelopment of the 2nd floor as new apartments, which are in high demand in downtown Geneva. Flexible D-CM zoning (Downtown Commercial Mixed-Use). 2023 Taxes: $17,945

The property was recently awarded a federal grant of $35,400+ for masonry façade restoration and fire safety improvements to be made in 2025. Note that two other nearby buildings are also being offered for sale by the same seller.


Located in downtown Geneva IL, the property is just 3 blocks west of the Fox River bridge and 1/2 block east of Third Street, a major element of the downtown retail area. There are nearby public lots and on-street parking.

Geneva IL, in central Kane County, is an upscale suburb about an hour west of Chicago. The area is recognized for the scenic Fox River, beautiful open spaces, and a diverse economy.

Downtown Geneva is one of the principal boutique retail destinations in suburban Chicago, and is teeming with unique shops and restaurants. State Street (IL Rt 38) is a primary east-west corridor and the main street through town. Traffic Counts (IDOT): 23,800 VPD. Population (5 mi): 109,842 . Avg household income (5 mi): $168,277.

City electric and water. Nicor gas.

Documents: