For Sale | Social Security Administration
$890,609
1107 West Ferdon Street, Litchfield, IL 62056
8.27
Cap Rate
4,300 sqft
Building Size
Details:
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.
Documents:
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Offering Memorandum
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Location
Gallery
