Downtown Redevelopment Opportunitiy

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.REDEVELOPMENT OPPORTUNITY: Vacant 14,000 sf, two-story, 3-level building in the heart of downtown Geneva needing complete redevelopment. Built in 1915 by the seller’s great grandfather, the building offers classic character in a prime location. This property provides excellent potential for an owner/user or retail/mixed-use investment. 220-222 W State St has a prominent street level retail space with large display windows, a basement level which had been used for many years as customer-accessed retail space, plus a second floor which has potential to be used separately or combined with the lower levels. Also, the first and second floors could each accommodate possible division into two adjacent units. Flexible D-CM zoning (Downtown Commercial Mixed-Use). 2023 Taxes: $17,750 The property was recently awarded a federal grant of $60,000+ for façade restoration and fire safety improvements to be made in 2025. Note that two other nearby buildings, with income, are also being offered for sale by the same seller.