$7,300,000
Commercial Property for Sale in Long Beach California 90805
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Soft OfferCommercial Property for Sale in Chicago Illinois 60609
4027 S Wells Street, Chicago, Illinois 60609
$4,239,000
$353 / sq ft 6.75% cap rate Listed Dec 30, 2024
12,000 sqft
Building
1960
Built
1
Stories
1
Units
Class B
Class
About this property
Commercial Property for Sale in Chicago Illinois 60609 is an industrial for sale in Chicago, Illinois, listed at $4,239,000. Key details: year built 1960, building size 12,000 sqft, stories 1, total units 1. Listed by Max Finn of SRS Real State Partners on LoopingCloud and last updated December 30, 2024.
Description:
SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NN leased, United Rentals investment property located in Chicago, Illinois. The tenant, United Rentals Realty, LLC has 3 years remaining on the initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2.5% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. United Rentals, Inc. is the largest equipment rental company in the world. The asset has a billboard lease that adds an additional $35,000 to the NOI until the end of 2024 with no options to renew. The company has an integrated network of 1,465 rental locations in North America, 14 in Europe, 27 in Australia and 19 in New Zealand. In North America, the company operates in 49 states and every Canadian province.
Location:
The United Rentals is located along S. Wells St and S. Wentworth Ave. with a combined (7,500 VPD). The site benefits from nearby direct on/off ramp access to Interstate 90 & 94, a major thoroughfare averaging over 318,000 vehicles passing by daily. The asset is located in a dense retail corridor, with numerous national/credit tenants including Target, Walgreens, Starbucks, Davita, Fresenius, Wendy’s, Dunkin’, Home Depot, and many more. Strong tenant synergy increases consumer draw to the immediate trade area and promotes crossover store exposure to the site. The subject property is in close proximity to Guaranteed Rate Field, a 40,600 seat Major League Baseball stadium, which provides additional consumer traffic to the site. The 5-mile trade area is supported by more than 790,000 residents and 778,000 employees, providing a direct consumer base from which to draw. The 5-mile trade area has an average household income of $97,353.
Key highlights
- Net Lease Investment
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Year Built
- 1960
- Building Size
- 12,000 sqft
- Stories
- 1
- Total Units
- 1
- Building Class
- Class B
- Property Status
- Normal Sale
- Building Status
- Existing
- Net Lease Investment
- Yes
Pricing details
- Net Operating Income
- $286,129
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
6.75%
Cap rate
$286,129
Net operating income
$353
Price per sq ft
Actual - Cash Flow
Source: Yearly tax returns
Gross incomeNet operating income
| Year | Gross income | Effective gross | Expenses | NOI | Pre-tax cash flow | Cap rate |
|---|---|---|---|---|---|---|
| 2024 | - | - | - | $286,129 | - | - |
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $4,239,000 | 6.75% | - | - | - |
Features and amenities
Highlights
- Rare Land Offering | 3 Years Remaining | Annual Rental Increases | Billboard Lease | Established Brand
- The asset is located in a dense retail corridor, with numerous national/credit tenants
- The tenant currently has 3 years remaining on their lease term with 3 (5-year) options to extend
- The lease features 2.5% annual rental increases during the initial term and option periods, growing NOI and hedging against inflation
- United Rentals, Inc. is the largest equipment rental company in the world with 1,465 rental locations in North America
Location
Address as shown by the lister.
Get directionsAbout this area - Chicago
- Population
- 79,469
- Housing units
- 27,675
- Land area
- 7.7 sq mi
- County
- Cook
Neighborhood
Places shown on the map come from Google Maps and are near the property. Check details with each place before you rely on them.
Documents, links and contacts
Property documents
1 file to downloadAdditional contacts
1 person to reach- Jack Cornell - jack.cornell@srsre.comVice President - UT #: 9518385-SA00 (570) 762-6075
Frequently asked questions
What is the asking price of Commercial Property for Sale in Chicago Illinois 60609?
Commercial Property for Sale in Chicago Illinois 60609 is listed at $4,239,000. That works out to about $353 per square foot. The stated cap rate is 6.75%.
Where is Commercial Property for Sale in Chicago Illinois 60609 located?
The property is in 4027 S Wells Street, Chicago, Illinois 60609, Cook County.
What type of property is this?
This is an industrial for sale in the commercial category.
How big is the property?
The building is 12,000 sqft.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
Max Finn of SRS Real State Partners listed this property. Use the Request Info button to send a message or call (570) 762-6075.
When was this listing published?
It was published on December 30, 2024 and last updated on December 30, 2024.
Listing information
- Listing ID
- CL-Illinois-13420
- Published
- Dec 30, 2024
- Last updated
- Dec 30, 2024
- Views
- 449
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