1400 S Wolf Rd - Office FOR SALE


$7,500,000 USD
773-230-1031
1400 S Wolf Rd, Wheeling, IL for Sale
$7,500,000 USD
Office - FOR SALE
1/24
null | 12.1% Cap Rate


OVERVIEW

L&B All Star Realty Advisors is pleased to offer an office complex investment opportunity located at 1400 S. Wolf Road, Wheeling, Illinois, in the heart of the Chicago’s Northwest suburban market. The property is well accessible from interstate I-294 / Tollway or Route 53 via Palatine Road, and located on a highly visible southwest corner of Wolf & Palatine Roads, and adjacent to the Chicago Executive Airport. The complex consisting of two buildings, with a total of 116,226 square feet. Built on slab on grade, the campus consists of two buildings which connect to each other. Building 100, consists of approximately 55,268 rentable square feet, and building 200 consists of a total of 57,866 of rentable square feet. The overall total of rentable space consists of 113,134 square feet. The property’s site consists of approximately 352,106 square feet of land, rectangular in shape and level grade, with all utilities available. The site zoned as I-1, Light Industrial and Office District. Once stabilized, this asset presents an opportunity to collect strong current cash flow with a potential for future industrial redevelopment. The complex consists of 22 units, and is currently 70% occupied. In addition, FedEx leases 50 parking spaces under longtime terms till August 2031. Leased office space varies from 1,600 sqft to a high of 23,993 sqft. Vacant space ranges from a low of 138 sqft to a high of 6,915 sqft. As stabilize, total projected monthly income is approximately $136,128 / $1,633,536 yr. Estimated capitalization rate after general expenses is projected at 12.1%. Appeal of suburban low-rise office properties affordable a cost-effective option over mid-rise buildings and are ideal for main or satellite locations away from congested urban areas. In addition, the style of building offers 24/7 access, together with tenant-controlled HVAC, and parking adjacent to entrances. Space options allow tenants to either grow or reduce space as needed. Units can be easily expanded by creating a cased wall opening which keeps tenant improvement costs to a minimum.

FOR SALE DETAILS

PRICE

$7,500,000 USD

PRICE/SF

$130 USD /SF

CAP RATE

12.1%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Building 100 & 200

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1986

SPRINKLERS

-

PARKING SPACES

220

LAND DETAILS

LAND ACRES

4.62 AC

LAND SF

201,247 SF

ZONING

B3, I2, I3

APN/PARCEL ID

03-23-201-004-0000

ASK ABOUT THIS PROPERTY

Randy FerinoLB All-Star Realty Advisors LLCMore Info
773-230-1031

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

Randy FerinoLB All-Star Realty Advisors LLCMore Info
773-230-1031

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