Major Price Improvement! Single-Tenant Chicago Warehouse Available

Highlights:

• Approximately 20,000 sq ft Under Roof
• Listed At 7% Cap Rate on Current Income
• Long Term Tenant in Place With 24 Months Left on Current Gross Lease
• Ten Percent (10%) Min Increase for Resigned Lease
• Two Drive-In Doors With High Ceilings
• Multiple Office Areas on Two Floors
• Very Secure Facility with Heavy Power and Advanced Security System
• Additional Nearby Gated Parking Side Lot Included

Description:

Major Price improvement!! Available for purchase for the first time in over 37 Years this well taken care of Warehouse/Flex building in the Irving Park neighborhood of Chicago has been occupied by a long-term tenant with prospective new ownership having the ability to continue with leasing the property or become an owner/user when lease expires in May, 2024. Consisting of almost 20,000 sq ft of Office and Warehouse space under roof, the property also is paired with a nearby gated side lot (approx. 3,000 sq ft) for employee parking. Two large (13') Overhead doors allow access from Elston with drive-thru capability to exit straight south to Berteau Ave or vice-versa. Currently used as a secured truck garage & storage there is approx. 15,625 sq ft of space on the first floor with 12,500 sq ft of warehouse and the remaining 3,125 sq ft consisting of office space. Additionally, there is another 4000 sq' of executive office space on the second floor with it's own entrance and exit and not part of the lower level of parking and other offices so could potentially be used for other purposes.

Please note, limited showings available due to security measures. Please contact list agent for more information.

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