104 S Halsted St - Office FOR SALE


Chicago Heights, IL 60411
$3,192,335 USD
619-922-1991
104 S Halsted St, Chicago Heights, IL for Sale
$3,192,335 USD
Office - FOR SALE
1/6
null | 6.75% Cap Rate

104 S Halsted St
Chicago Heights, IL 60411


HIGHLIGHTS

  • The subject property is 100% leased to the U.S. Federal Government, which features an AAA credit rating from Moody’s Investor Services
  • New 10-year lease begins 05/02/2025 and runs through 05/01/2025.
  • There is a fixed increase in Shell Rent of 8.72% in years 6-10 ($27,955.79 per year)
  • This facility has over 100,000 people living within 5 miles, including an average household income of $81,000/year

OVERVIEW

The Chicago Heights Social Security Administration (SSA) Branch Office is a single-tenant, 15,283 square foot office facility located in Chicago Heights, IL, approximately 29 miles from downtown Chicago. This location experiences exceptionally strong demand for SSA services. The property is leased for a new 10-year lease term via the U.S. General Services Administration (GSA), demonstrating the long-term commitment to this location. The lease is guaranteed by the United States of America, which has a credit rating of AAA from Moody’s Investor Services. The GSA has a long-standing reputation as a tenant with one of the highest renewal probabilities in the commercial real estate industry. Historical data published by the GSA regarding their portfolio of over 8,000 leases nationwide reflects a retention rate which typically exceeds 93%. The Chicago Heights SSA presents a passive investment opportunity, as the seller/developer has managed (5) SSA facilities since 2000. The seller of this asset has invested over $ 650,000 to update this facility to meet and exceed all current standards. The developer’s strong relationship with the tenant will provide an easy, hassle-free experience for the future owner.

FOR SALE DETAILS

PRICE

$3,192,335 USD

PRICE/SF

$209 USD /SF

CAP RATE

6.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Social Security Administration

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

90

LAND DETAILS

LAND ACRES

1.49 AC

LAND SF

64,904 SF

ZONING

N/A,Chicago Heights

APN/PARCEL ID

32-08-405-033-0000,32-08-405-034-0000

ASK ABOUT THIS PROPERTY

Gary GreenGW Green PropertiesMore Info
619-922-1991

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Gary GreenGW Green PropertiesMore Info
619-922-1991

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.