537 W 195th St - Warehouse FOR SALE


Glenwood, IL 60425
$1,751,000 USD
512-338-7800
537 W 195th St, Glenwood, IL for Sale
$1,751,000 USD
Warehouse - FOR SALE
1/4
null | 6% Cap Rate

537 W 195th St
Glenwood, IL 60425


HIGHLIGHTS

  • Two-Property Portfolio with National Tenants (United Rentals & McLane)
  • Recently Renewed United Rentals Lease with 3.5% Annual Rent Increases
  • No Renewal Options

OVERVIEW

Marcus & Millichap is pleased to present this two-property, industrial portfolio of United Rentals and McLane Foodservice facilities in Glenwood, a suburb of Chicago. Glenwood is approximately 30 miles south of downtown Chicago. UNITED RENTALS The subject property is a 56,000-square foot facility sitting on 2.32 acres located at the intersection of Glenwood Road and West 195th Street. There are approximately five years remaining on a double-net lease (NN) with three and one-half percent annual increases, and there are no renewal options. The facility was constructed in 1970 and renovated in 2014. The property features three drive-in doors. United Rentals, Inc. is the largest equipment rental company in the world. In North America, the company operates in 49 states and every Canadian province. The company’s approximately 27,550 employees serve construction and industrial customers, utilities, maintenance, homeowners and others. MCLANE FOODSERVICE The subject property is a 3,750-square foot facility sitting on 1.20 acres located just north of the intersection of Glenwood Road and West 195th Street. There are approximately five years remaining on a double-net lease (NN) with two and one-half percent annual increases, and there are no renewal options. The facility was constructed in 1975. The property features four drive-in doors. McLane Company, Inc. was founded in 1984 and is one of the largest distributors in America, serving convenience stores, mass merchants, and chain restaurants. As an industry-leading partner to the biggest retail and restaurant businesses, McLane buys, sells, delivers and serves the world’s most beloved brands. With headquarters in Temple, Texas, McLane has more than 80 distribution centers across the country, employs more than 25,000 teammates, and delivers to nearly every zip code in the United States. McLane is a wholly owned subsidiary of Berkshire Hathaway, Inc. CHICAGO MSA Chicago-Naperville-Elgin is one of the largest metros in the nation. The metro houses 9.6 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. Illinois trails only New York City, Texas and California in total corporate headquarters. There are over 30 Fortune 500 companies based locally. The Chicago metro employs 4.8 million workers in an array of industries, including the growth tech and logistics sectors. BROKER OF RECORD: Steven Weinstock One Mid America Plaza, Suite 200 Oakbrook Terrace, IL 60181 License #: 471-011175 Steven.Weinstock@marcusmillichap.com

FOR SALE DETAILS

PRICE

$1,751,000 USD

PRICE/SF

$31 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

United Rentals

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1970

UTILITIES

-

CLEAR CEILING HT

20 Ft

DOCKS

-

DRIVE INS

3

PARKING SPACES

100

LAND DETAILS

LAND ACRES

2.32

LAND SF

101,059

ZONING

-

APN/PARCEL ID

32-09-102-004-0000,32-09-102-005-0000

ASK ABOUT THIS PROPERTY

Patrick DohertyMarcus & MillichapMore Info
512-338-7800

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Patrick DohertyMarcus & MillichapMore Info
512-338-7800

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