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2115 Butterfield Road - Midwest Plaza - Midwest Plaza North, Oak Brook, IL
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2115 Butterfield Road - Midwest Plaza - Midwest Plaza North
Oak Brook, IL 60523-1339 - Eastern East/West Corr Submarket
For Sale Price:
Free Surface spaces; Ratio of 3.09/1,000 SF
On Site Management
Diligence 30 days
Total Escrow 45 days
Property tours are available by appointment ONLY. Please contact Rawly Lantz to pre-register for a tour at firstname.lastname@example.org or 630-729-7944. Please note: A license or state ID will need to be required when touring the property.
Investment Highlights: ±50,505 SF Single-Tenant Office Building NNN Lease With Zero Landlord Responsibilities And Over Ten Years Left On The Lease 100% Leased to Q-Tech Communications, a mature/established tenant occupying the property since 1991 Current EGI of ±$880,588 with 3% annual increase in Base Rent Numerous Recent Capital Improvements; Tenant recently installed a 500kw generator Located with Oak Brook, an affluent suburb in the Chicago MSA Excellent visibility from Butterfield Road with ±25,300 VPD
2115 Butterfield Rd is a single-tenant, three-story, office building totaling ±50,505 SF located at 2115 Butterfield Road in Oak Brook, Illinois. Originally built in 1980 and recently renovated, the property is situated on a ±2.28 acre parcel of land.
2115 Butterfield Rd is currently 100% occupied by a single NNN tenant; Q-Tech Communications, INC. Q-Tech has been in business since 1987, providing IT network design and implementation services to the financial industry. They took occupancy at the Property in 1991, became the sole tenant in 2005, and have a current lease expiration of January 2028. The terms of the Lease note a 3% annual increase in Base Rent at the beginning of each new term with current EGI of ±$880,588.
Oak Brook, IL is an affluent suburb in the Chicago MSA, and home to the headquarters of several notable companies and organizations including Ace Hardware, Blistex, Federal Signal, CenterPoint Properties, Sanford L.P., TreeHouse Foods, and Lions Clubs International. The neighborhood surrounding 2115 Butterfield Rd is rich with supporting amenities, such as additional office properties, municipal buildings, a hospital, national retailers, national and local restaurants, and several hotel facilities. Surrounding land uses to the east include a large residential community and Oakbrook Center, an outdoor shopping mall which contains several department stores, in-line national retailers and restaurants. Several municipal buildings are within close proximity to the Property, including Oakbrook Terrace City Clerk, Oakbrook Terrace Police Department, Oakbrook Terrace Building and Zoning, and Oakbrook Terrace Fire Protection. The Gardner School of Oakbrook and Loyola Center of Health at Oakbrook Terrace are located to the north of the Property. Additional amenities within a five mile radius of the property include The Drake Oak Brook, Chase Bank, Wendys, Walgreens, Starbucks, US Social Security Administration, Home Depot, and the Shops at Oak Brook Place.
The Property benefits from its access to Interstate 88, two miles southeast on Kingery Hwy, with access to the Chicago CBD, approximately 19 miles to the east. In addition, the Property is conveniently located roughly 17 miles southwest of OHare International Airport and approximately ten miles north of Interstate 55 which provides direct access to St. Louis, Missouri, and Chicago.
The investment offers the opportunity to benefit from the current NNN lease to a mature, established tenant, with zero landlord responsibilities and over ten years left in the term.
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Cawley Chicago Commercial Real Estate
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