Winfield Town Center is a 25,146 square foot two-story, mixed-use property. The ground floor retail is fully leased with four tenants and the second floor is a vacant office space. The property is newer, built in 2006 and located in Winfield, IL in DuPage County with low real estate taxes. The property is fully improved, in excellent condition and very well located directly on Winfield Road at the signalized corner of Winfield Road and High Lake Road. There are two points of access for the property, Winfield Road (11,000 VPD) and High Lake Road (8,000 VPD). There is substantial parking in the rear and side of the property. There is also street parking in front of the center on Winfield Road. The Metra Train Station is adjacent to the subject property and Northwestern Medicine Central DuPage Hospital is located directly across the street. This area is fed by surrounding towns including Wheaton, Warrenville, West Chicago and Glen Ellyn. The DuPage County Court House and government buildings located on County Farm Road in Wheaton are approximately 5 minutes from the center. Three of the retail tenants have been long term tenants and a new 5-year tenant just occupied the last available retail space. The total retail square footage is 11,141 square feet. The office vacancy is 12,787 square feet, which was previously occupied by Northwestern Medicine Central DuPage Hospital for administrative offices and training. The office suite has a high end, full office buildout and could easily be leased as two suites. The second-floor office is accessed from an elevator in a separated common area designated only for the office spaces. The property has no known deferred maintenance. There is one large HVAC unit servicing the entire building, which is maintained by the owner. The electric for the property is under one meter, and the tenants pay their prorata share of the electricity directly to the owner as part of CAM. All other utilities are separately metered and paid directly by the tenants. The roof is original to the building and in good condition. The property asking price is $2,974,500 ($118 per square foot) based on similar properties sold as owner/user opportunities. The ideal buyer will occupy all or a portion of the office space for their business and collect the rental income from the retail tenants. The gross income is currently $325,032 including the tenant payments of common area maintenance and real estate taxes. 2021 Real Estate Taxes were $4.41 per square foot and 2022 common area maintenance is estimated at $7.15 per square foot. This is an excellent opportunity to purchase an investment, mixed-use retail/office property. It is a great option for an owner/user, providing high-end office space to locate their business and provide for positive cash-flow income from the tenants, or alternatively as an investment property, with significant upside for a buyer with additional leasing.
Courtesy of Sperry Van Ness
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Data last updated 8:07 PM UTC, 10/4/22