7 units are SOLD. Only 3 T-hangar left. These will be gone soon, so don't delay -
Do you rent your home or own it?
Why own? Why Rent?
Some aircraft owners only wish to rent, not buy. Investors are buying hangars with
the intent to rent it out ($165 / month for a T-shape hangar to those aircraft owners).
These units are sold as Condos. The ground below (1.2± acre) is owned by the Condo
Hangar Owners Association, not the airport.
Expenses are about $750 per year (includes airport access fee, maintenance, insurance)
Assuming that the initial investment of $20K is appreciating, and they rent it out
for $165 /month, the return is over 7% annually.
The hangar comes with unlimited access to a 3000 ft. paved runway and taxiways in
Jo Daviess County, Illinois.
Each unit ceiling can be insulated for winter storage, a quality 40 ft. wide SchweissÔ
bi-fold door (12 ft. clear height) with built in walk doors, overhead lighting, 50A
individually metered power service, asphalt taxiway to the runway, external lighting,
hard surface floors, and 15 ft. interior ceilings.
Since these units are located on land owned by the Hangar Association and not the
airport - a taxiway license to the runway is granted to "condo" hangar owners. Building
maintenance, insurance, property taxes, and utilities are owners responsibility.
The license fee to the airport covers annual runway usage, prorated maintenance of
runway, clearing taxiway in winter months.