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502 1st St 5,202 SF 75% Leased Retail Building La Salle, IL 61301 $687,222 CAD ($132.11 CAD/SF) 8.41% Cap Rate
Investment Highlights
- 75% occupancy - bring your business to become an Owner-User of the remaining space!
- Lots of Natural Light and TONS of basement storage
- Complete renovation in 2025/2026
Executive Summary
Introducing an exceptional investment opportunity at 502 1st Street, La Salle, IL. This prime property features a 5,202 SF building with 4 units, ideal for retail or street retail tenants or investors. Built in the early 1900's and completely renovated in 2026, the property boasts a compelling blend of historic charm and modern amenities. Zoned C-3 and situated in the highly desirable Downtown La Salle Historic District, this property offers a 75% occupancy rate, signaling strong sustained interest. Don't miss the chance to capitalize on this premier retail investment in a thriving commercial district. Tenants pay water, sewer, electric, and gas. Garbage is $50/month/tenant. Additional storage space in the full 8' basement is available for tenants to lease, or for a new buyer to utilize. A shared corridor in the rear of the building is accessible from all 4 tenant spaces and provides access to the basement and exterior decking to First Street. EM payable to Coldwell Banker Real Estate Group via certified funds. DO NOT DISTURB TENANTS or ASK QUESTIONS OF TENANTS.
Financial Summary (Pro Forma - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$115,528
|
$23.11
|
| Other Income |
$2,476
|
$0.50
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$118,004
|
$23.60
|
| Taxes |
$13,758
|
$2.75
|
| Operating Expenses |
$15,134
|
$3.03
|
| Total Expenses |
$28,892
|
$5.78
|
| Net Operating Income |
$89,112
|
$17.82
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $115,528 |
| Annual Per SF | $23.11 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,476 |
| Annual Per SF | $0.50 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $118,004 |
| Annual Per SF | $23.60 |
| Taxes (CAD) | |
|---|---|
| Annual | $13,758 |
| Annual Per SF | $2.75 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $15,134 |
| Annual Per SF | $3.03 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $28,892 |
| Annual Per SF | $5.78 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $89,112 |
| Annual Per SF | $17.82 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,202 SF
Building Class
C
Year Built/Renovated
1900/2025
Price
$687,222 CAD
Price Per SF
$132.11 CAD
Cap Rate
8.41%
NOI
$57,771 CAD
Percent Leased
75%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.75
Lot Size
0.16 AC
Zoning
C-3
Frontage
62’ on 1st St
Amenities
- 24 Hour Access
- Corner Lot
- Courtyard
- Tenant Controlled HVAC
- Storage Space
- Air Conditioning
Fairly walkable
40/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 18-15-333014 | Total Assessment | $19,194 CAD (2024) |
| Land Assessment | $15,988 CAD (2024) | Annual Taxes | $13,758 CAD ($2.64 CAD/SF) |
| Improvements Assessment | $3,206 CAD (2024) | Tax Year | 2026 |
Property Taxes
Parcel Number
18-15-333014
Land Assessment
$15,988 CAD (2024)
Improvements Assessment
$3,206 CAD (2024)
Total Assessment
$19,194 CAD (2024)
Annual Taxes
$13,758 CAD ($2.64 CAD/SF)
Tax Year
2026
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