2416 S Pulaski Rd - Office FOR SALE


Chicago, IL 60623- Little Village
$730,000 USD
859-907-2006
2416 S Pulaski Rd, Chicago, IL for Sale
$730,000 USD
Office - FOR SALE
1/6
null | 9.22% Cap Rate

2416 S Pulaski Rd
Chicago, IL 60623
Little Village


HIGHLIGHTS

  • U.S. Government credit (AA+ S&P credit rating)
  • Build-to-Suit with New Roof & Parking Lot
  • First Generation Lease
  • High-Quality and Well-Maintained Masonry Building
  • Long-Term Tenant
  • Busy Facility in Dense, Urban Chicago Market

OVERVIEW

The Ficke Team of Colliers has been retained to exclusively market for sale the Social Security Administration (SSA) located at 2416 S. Pulaski Blvd., Chicago, IL 60623. This single-tenant facility, built-to-suit in 1993, consists of 6,155 rentable square feet. The site includes 0.35 acres and is a busy facility. The GSA/SSA exercised their renewal option under this first-generation lease for 5-years, 2-years firm effective February 2, 2023, with the firm term expiring May 17, 2025, and the full remaining term expiring May 16, 2028, illustrating the Social Security Administration’s commitment to the location. This is a well-maintained building with a newer roof and parking lot repair, sealed and striped in 2022. This lease provides investors with a value-add opportunity to negotiate a new long-term lease in 2028, creating additional value for a long-term hold or disposition upon lease renewal. This GSA lease provides investors stable returns guaranteed by the US Government (AA+ S&P credit rating). This is a busy facility located in a dense, urban area surrounded by national retailers, banks, and restaurants, serving a population of over 100,000 in a 3-mile radius

FOR SALE DETAILS

PRICE

$730,000 USD

PRICE/SF

$119 USD /SF

CAP RATE

9.22%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.36 AC

LAND SF

15,679 SF

ZONING

-

APN/PARCEL ID

16-27-218-021-0000

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

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