Investment Overview

Marcus & Millichap is pleased to present the sale offering of the Kensington Office Center, located at 479 E. Business Center Dr, Mount Prospect, IL. The Kensington Office Center is located in the Kensington Center for Business Park, within close proximity to O’Hare International Airport and just off US-12 (Rand Road). The property is surrounded with area conveniences and economic drivers, including Randhurst Village, an open-air shopping mall that contains a mix of shopping, dining, office space and a hotel. The subject property is a 21,945 square-foot, multi-tenant, single-story incubator office building. The asset contains 9 total suites which are currently occupied by 7 tenants with one vacancy. Each suite is walk-in style with sizes ranging from 1,067-5,679 square feet. Tenants are operating on a mix of Modified Gross and Gross leases with some tenants reimbursing for Taxes and CAM. The Kensington Office Center has maintained strong historical occupancy with some tenants having been at the property for nearly 20 years. The purchase of this offering presents an investor with the opportunity to acquire an incubator style office asset in the highly desirable northern O’Hare submarket. At the current list price of $1,225,000 the investment generates an in-place net operating income of $108,151 which equates to an 8.83% capitalization rate.