Fully-Leased Office Condo for 11.34 cap rate in Lisle, IL

1500 Eisenhower Ln, Lisle, IL

$650,000

Price

5,061 sqft

Building Size

100%

Occupancy

Overview
Building Size
5,061 sqft
Occupancy
100%
Class
B
Units
2
Year Built
2004
Floors
1
Description

MINIMUM OFFER PRICE: $650,000
CAP RATE: 11.34%
OFFER DEADLINE - AUGUST 2, 2019 - WILL SELL AT OR ABOVE MINIMUM OFFER PRICE - HIGHLY MOTIVATED SELLER

This 5,061 SF office condo is completely split & leased to two well-established tenants at a highly attractive 11.34% cap rate. The offices have been recently upgraded & are located in the Commerce Place Office Complex. The sale presents a wonderful opportunity to acquire solid cashflow at a highly-valued cap rate.

TENANT INFORMATION

Unit 200A: 2,030 SF – First Centennial Mortgage (www.gofcm.com) NNN Lease – Currently paying $15.02/SF NNN ($30,490.56/year)

Unit 200B: 3,031 SF – ITG Transportation (www.itgtrans.com) NNN lease – Currently paying $14.25/SF NNN ($43,191.75/year)

Lisle is a substantial office market in the east/west commercial corridor of Chicago along I-88. Home to 22,989 residents, the city is well located roughly 27 miles west of Downtown Chicago. The median income of $79,819 per household is far superior to both the state & national averages. Lisle has a growing economy within the finance, insurance, tech services, and wholesale trade. It is also home to major commercial retailers and popular restaurants, showcasing the area as a bustling town for current and incoming residents and tenants.

Highlights
  • Total SF: 5,062 (2 separate suites w/ common area bathrooms)
  • Leased to two high-quality tenants
  • Net Operating Income: $73,682
  • Taxes (2018): $16,533.3 (reduced 21% from 2017)
  • Condo Assoc. Fees: $2.77/SF
Documents

Location