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Warehouse

700 E 107th St

700 E 107th St, Chicago, IL 60628

Listing Price: $34,000,000

Cap Rate
7.25%
Gross SF
291,477
Price/Gross SF
$116.65
Lot Size
22.03 acres
Year Built
1972
Rentable SF
291,477

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 700 E 107th St, a fully occupied multi-tenant industrial investment offering located in Chicago, IL. The property resides in the historic Pullman neighborhood on Chicago’s southside, an economic opportunity zone with significant and growing industrial development. The subject location sits directly off of I-94 and in close proximity to the I-94 and I-57 Interchange, offering interstate access directly to both the city of Chicago and the greater Chicagoland area. The subject property consists of 291,477 square feet of industrial and office space, sits on 23.03 acres, consists of three interconnected buildings, and was originally constructed in 1974. Of the 291,477 square feet, 189,504 square feet are made up of both cold and freezer storage. The property offers ample distribution access with 31 docks, 6 drive-in doors, and direct railway access on site. The property is fully occupied by four tenants, Land O’ Frost Inc, Pullman Sugar LLC, Good Foods Inc., and Dutch Farms Inc., industry leaders in the Chicagoland food and dairy markets who use the property for food manufacturing, processing, and storage. Land O’Frost Inc. has 3 years remaining on their lease, while the remaining three tenants will sign a 7-year lease upon close of escrow. All tenants operate on net leases, paying reimbursements for their pro rata share of all expenses. The purchase of this offering presents an investor with the opportunity to acquire a stabilized, industrial asset in a strategic location in the city of Chicago with immediate highway access, ample distribution access, a significant amount of cold and freezer storage, and high future development potential. At the current list price of $34,000,000, the investment generates an in-place net operating income of $2,464,978 which equates to a 7.25% CAP rate.

Investment Highlights

  • Fully occupied multi-tenant industrial investment offering
  • Significant amount of cold/freezer storage – 58% of occupied space
  • Located directly off of I-94 | Close proximity to I-94 & 1-57 Interchange
  • Direct rail access
  • 20'-24' Clear | 31 Docks | 6 Drive-in doors
  • Located in an Opportunity Zone | Future development potential

Exclusively Listed By

Financing By

Warehouse

700 E 107th St

Listing Price: $34,000,000

Cap Rate
7.25%
Gross SF
291,477
Price/Gross SF
$116.65
Lot Size
22.03 acres
Year Built
1972
Rentable SF
291,477

Investment Highlights

  • Fully occupied multi-tenant industrial investment offering
  • Significant amount of cold/freezer storage – 58% of occupied space
  • Located directly off of I-94 | Close proximity to I-94 & 1-57 Interchange
  • Direct rail access
  • 20'-24' Clear | 31 Docks | 6 Drive-in doors
  • Located in an Opportunity Zone | Future development potential

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 700 E 107th St, a fully occupied multi-tenant industrial investment offering located in Chicago, IL. The property resides in the historic Pullman neighborhood on Chicago’s southside, an economic opportunity zone with significant and growing industrial development. The subject location sits directly off of I-94 and in close proximity to the I-94 and I-57 Interchange, offering interstate access directly to both the city of Chicago and the greater Chicagoland area. The subject property consists of 291,477 square feet of industrial and office space, sits on 23.03 acres, consists of three interconnected buildings, and was originally constructed in 1974. Of the 291,477 square feet, 189,504 square feet are made up of both cold and freezer storage. The property offers ample distribution access with 31 docks, 6 drive-in doors, and direct railway access on site. The property is fully occupied by four tenants, Land O’ Frost Inc, Pullman Sugar LLC, Good Foods Inc., and Dutch Farms Inc., industry leaders in the Chicagoland food and dairy markets who use the property for food manufacturing, processing, and storage. Land O’Frost Inc. has 3 years remaining on their lease, while the remaining three tenants will sign a 7-year lease upon close of escrow. All tenants operate on net leases, paying reimbursements for their pro rata share of all expenses. The purchase of this offering presents an investor with the opportunity to acquire a stabilized, industrial asset in a strategic location in the city of Chicago with immediate highway access, ample distribution access, a significant amount of cold and freezer storage, and high future development potential. At the current list price of $34,000,000, the investment generates an in-place net operating income of $2,464,978 which equates to a 7.25% CAP rate.

Exclusively Listed By

Financing By

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