8317 W North Ave - Schools FOR SALE


Melrose Park, IL 60160
$19,480,000 USD
8317 W North Ave, Melrose Park, IL for Sale
$19,480,000 USD
Schools - FOR SALE
1/8
null | 6.85% Cap Rate

8317 W North Ave
Melrose Park, IL 60160


HIGHLIGHTS

  • LONG-TERM TENANCY WITH RECENT EXTENSION: Lincoln Technical Institute has operated at this site for 25+ yrs and recently signed a 10-yr lease extension
  • CORPORATE GUARANTY: Lease backed by Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded and financially sound guarantor.
  • ATTRACTIVE ANNUAL RENTAL INCREASES: Lease includes 3.5% annual increases, exceeding market norms and ensuring steady income growth.
  • EXPANSIVE 9.1-ACRE SITE
  • PUBLICLY TRADED & STRONG MARKET PERFORMANCE
  • HIGH PROFILE RETAIL CORRIDOR/EXCEPTIONAL VISIBILITY & TRAFFIC COUNTS/NEAR MULTIPLE MANUFACTURING AND DISTRIBUTION FACILITIES

OVERVIEW

CBRE’s Net Lease Property Group – Midwest is pleased to offer the 100% fee interest in a freestanding Lincoln Technical Institute in Melrose Park, IL. A fixture at this location for nearly 25 years, Lincoln recently committed to a new 10-year lease extension. The lease features a corporate guaranty and healthy 3.50% annual rental escalations. Strategically positioned on W. North Avenue with 49,000+ VPD, the site boasts prime visibility and access. It’s adjacent to Winston Plaza (5M+ annual visitors) and surrounded by 3M+ SF of industrial space, including Amazon and DHL. Lincoln Technical Institute is a subsidiary of Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded leader in career-focused education with 22 campuses across 12 states and a market cap of ~$542M.

FOR SALE DETAILS

PRICE

$19,480,000 USD

PRICE/SF

$184 USD /SF

CAP RATE

6.85%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Lincoln Technical Institute

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Schools

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

512

LAND DETAILS

LAND ACRES

3.73 AC

LAND SF

162,349 SF

ZONING

“E” Commercial

APN/PARCEL ID

15-02-200-034-0000,15-02-200-039-0000

ASK ABOUT THIS PROPERTY

Michael KaiderCBRE, Inc.More Info

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

Michael KaiderCBRE, Inc.More Info

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