1800 - 1818 Ridge Road - Eagle Ridge Office Center - Eagle Ridge Office Center, Homewood, IL

The property is located 25 miles south of the Chicago Loop, in close proximity to I-80, I-94, I-294, I-394, and I-57, and in walking distance to a vibrant downtown shopping area. The east side of the building is two stories. There are 6 public golf course nearby. The Metra Commuter Rail, Amtrak, and Illinois Central Rail are located adjacent to downtown. This location is 94% occupied.

Sale Notes:
Marcus & Millichap is pleased to present the exclusive
offering of a 27,690-square foot, multi-tenant medical office
building. The property will be 100 percent occupied
(currently 89 percent occupied, pending anchor tenant’s
scheduled expansion in the spring of 2011), and is located
at 1818 Ridge Road in Homewood, Illinois. Homewood is
approximately a 30-minute drive from the city of Chicago
and conveniently located with access to major expressways,
Amtrak and the Metra station.

The asking price of $1,976,000 yields a 11 percent
capitalization rate. Underwriting includes a 5 percent
vacancy factor, a 4 percent management fee (reimbursed by
tenants) and a $0.20 per square foot capital reserve. Based
upon a 10-year cash flow model, the investment could
potentially yield a 16.83 percent annual unleveraged
internal rate of return.

Please Do Not Disturb the Tenants. The major tenants
include senior and child care providers who are very
sensitive to intrusions. The property will be shown through
coordination with the owner only to investors that make
qualified offers.