14633 Kilpatrick Ave - Warehouse FOR SALE


Midlothian, IL 60445
$3,450,000 USD
773-736-3600
14633 Kilpatrick Ave, Midlothian, IL for Sale
$3,450,000 USD
Warehouse - FOR SALE
1/1
null | 8.98% Cap Rate

14633 Kilpatrick Ave
Midlothian, IL 60445


HIGHLIGHTS

  • Multi-tenant industrial property with two buildings totaling approx. 35,900 SF
  • 42 individual units (90.5% leased)
  • Current NOI $309,646 | Current Cap Rate 8.98%
  • PF NOI with 5% rent increases $336,363 | PF Cap Rate with 5% rent increases 9.75%

OVERVIEW

Strauss Realty, Ltd. has been exclusively engaged to market for sale 14600 Kilpatrick Avenue, a multi-tenant industrial property located in Midlothian, Illinois. The property consists of two buildings totaling approximately 35,900 square feet across 42 individual units. Building 1 includes Units 1–14, each approximately 700 square feet (9,800 SF total), and Building 2 includes Units 15–42, each approximately 900 square feet (26,100 SF total), with select units combined. A shared, secured restroom is located between Units 16 and 17. Investment Summary The property is offered at a purchase price of $3,450,000 and features a diversified small-bay tenant base. Recent capital improvements include separating several double units into single units, installation of bollards around gas meters, a mastered key system via GoldyLocks, and new heaters in select units. Ownership is currently completing installation of a fire alarm system as required by the Village. Operations & Lease Structure Tenants are responsible for gas (heat), internet/phone, and maintenance within their units. Ownership pays for electric, water, refuse service (8-yard dumpster with twice-weekly pickup), internet for security cameras, and weekly professional restroom cleaning. Leases are structured as one-year terms with automatic renewals and no scheduled rent increases, providing stable in-place income with future upside potential.

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$101 USD /SF

CAP RATE

8.98%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1969

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

56

LAND DETAILS

LAND ACRES

1.57

LAND SF

68,323

ZONING

-

APN/PARCEL ID

28-10-116-068-0000

ASK ABOUT THIS PROPERTY

Craig WolfStrauss RealtyMore Info
773-736-3600

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Craig WolfStrauss RealtyMore Info
773-736-3600

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