request_info_guest false

For Sale | Social Security Administration

$890,609

1107 West Ferdon Street, Litchfield, IL 62056

Active
Last Updated: 07/29/2024

8.27

Cap Rate

4,300 sqft

Building Size

Details:
Cap Rate:    8.27%
Building Size:    4,300 sqft
Lease Type:    Modified Gross
Year Built:    2002
Price Per Sqft:    $207.11
Description:

● Dedicated Tenant– Tenant has committed to paying over $375k in Tenant Improvements that will be paid back in a
lump sum to the current owners after the completion date.
● Underserved Market– This is the only SSA building in Montgomery County, with the next closest Social Security office being 44.3 miles away in Alton, IL.
● Valuable Asset– Highest cap rated Social Security building on market currently.
● Potential Value Add – Opportunity to cut costs as the operating ratio is over 46%, well above market standards
● Notes – Please note that the tenant has a FIrm lease date expiration ending on June 30th, 2027, which means that the tenant has the ability to terminate the lease with a 120 day notice after this expiration date.
● Notes – Tenant pays for all taxes over the Base Year, which was established in 2023, as it's the first full calendar year.

Map:
Documents:
Title
Offering Memorandum
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery