Countryside Commercial Building

Highlights:

• Cap rate at 10.69%
• Recently remodeled
• Great Joliet Road exposure ( Estimated daily traffic count is 21,111)
• Lot size 18,825sq. ft. (0.43 acres)
• Ample parking with 18 available parking spots
• Close to major highways I-294, I-55
• Two story Geodesic building is very energy efficient (It maximizes the interior space while minimizing the exterior surface area).
• Fully Leased
• Listed at or above appraisal value.

Description:

Investment Opportunity: Fully Leased Office Building with Strong Rental Income

Overview

• Introducing a prime investment opportunity! This recently remodeled 8000 square foot office building boasts a total lot size of 18,825 square feet, making it an exceptional commercial property.

• Featuring 6,350 square feet of net leasable space, this two-story office building is currently fully leased, with annual lease renewals in place.

• The combined first-floor leases are long-term net leases at $5,000 per month, each with an option for a 5-year extension. They are set to expire on September 1st, 2027, and July 1st, 2025, respectively.

• The second-floor lease is a long-term NNN net lease at $6,000 per month, with a 5-year extension option, expiring on April 30th, 2025.

• Ample parking with 18 spots, ensuring convenience for tenants and visitors. The second floor is accessible by stairs and an elevator, with accommodations for handicap access.

• Cap rate at 10.69%! The property's proximity to major highways and expansive shopping malls enhances its appeal to tenants.

• Conveniently located just minutes away from the historical La Grange and the Metra train station, this property offers easy access to transportation and amenities.

• With numerous recent updates, this property presents an attractive turnkey opportunity for new owners.

• The strategic location, strong rental income, and minimal need for additional investment make this a compelling addition to any investment portfolio.

• Don't miss out on the chance to acquire this income-generating property in a sought-after location.

• Schedule a showing today and seize this lucrative investment opportunity.

• Listed at or above appraisal value.

Financials:

• The combined first-floor leases are long-term net leases at $5,000 per month, each with an option for a 5-year extension. They are set to expire on September 1st, 2027, and July 1st, 2025, respectively.

• The second-floor lease is a long-term NNN net lease at $6,000 per month, with a 5-year extension option, expiring on April 30th, 2025.

• Rental income first floor $60,000

• Rental income second floor $72000.

• Total rental income $132,000.

• Building Maintenance:

Building Maintenance and Office Expenses

• Landscaping $3,200

• Total Building Maintenance $10,067.13

• Office expenses:

• Cleaning services $680

• Garbage removal $2,889.72

• Total Office expenses $3569.72

Property Taxes:

• 27,677.50 Year 2022

• Utilities

Utilities

• $11,308.44

Total Expenses

• $51,792.3


Contact LA at (708)268-5580 for any showing requests. 24 to 48 hours notice required.

Documents: