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Government

Chicago Transit Authority Training Center | Dense Chicago Location

4829 N Lipps Ave, Chicago, IL 60630

Listing Price: $3,594,000

Cap Rate
8.00%
Tenant Name
Chicago Transit Authority
Years Remaining On Lease
7.9
Gross SF
18,000
Guarantor
State Agency
Rentable SF
18,000
Price/Gross SF
$199.67
Lease Type
Single Net
Rent Per Square Feet
$18.58

Investment Overview

Marcus & Millichap is pleased to exclusively present CTA University, a single-tenant net-leased property occupied by the Chicago Transit Authority. This property features attractive lease terms, with 3% annual rental increases throughout the term, and a guarantee by the Chicago Transit Authority, an Illinois Municipal Corporation.
Subject property is used by CTA's training and workforce development staff to provide training to CTA employees in various areas. Currently, the CTA has over 10,000 employees, including 600 newly hired bus drivers in 2023. The agency plans on doubling its number of rail operating training slots to 200 in 2024. This high-end center recently underwent interior renovations and has many technological upgrades.
Conveniently, subject property is located in close proximity to many transit centers and stations, Interstate 90 (163,700 VPD), and has over 361,000 people living within three miles.

Investment Highlights

  • Single-Tenant Net Leased Building Occupied by the Chicago Transit Authority | CTA University
  • Attractive Lease Terms with 8 Years of Term Remaining and Scheduled Rental Increases | 3% Annual Rental Increases Throughout Term
  • Subject Property is Used by CTA's Training and Workforce Development Staff to Provide Training to CTA Employees in Various Areas Including Rail and Bus Operations and Safety and Security Training
  • The CTA Currently has over 10,000 Employees Including 600 Newly Hired Bus Operators in 2023 | The Agency is Doubling its Number of Rail Operator Training Slots to 200 This Year
  • Walking Distance from the Jefferson Park Transit Center (0.1 Miles) and the Jefferson Park Blue Line Station (0.2 Miles)
  • 0.2 Miles from the Interstate 90 Interchange | 163,700 Vehicles per Day
  • 361,018 People Live Within Three Miles | 278,734 People Work Within Three Miles

Exclusively Listed By

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Financing By

Government

Chicago Transit Authority Training Center | Dense Chicago Location

Listing Price: $3,594,000

Cap Rate
8.00%
Tenant Name
Chicago Transit Authority
Years Remaining On Lease
7.9
Gross SF
18,000
Guarantor
State Agency
Rentable SF
18,000
Price/Gross SF
$199.67
Lease Type
Single Net
Rent Per Square Feet
$18.58

Investment Highlights

  • Single-Tenant Net Leased Building Occupied by the Chicago Transit Authority | CTA University
  • Attractive Lease Terms with 8 Years of Term Remaining and Scheduled Rental Increases | 3% Annual Rental Increases Throughout Term
  • Subject Property is Used by CTA's Training and Workforce Development Staff to Provide Training to CTA Employees in Various Areas Including Rail and Bus Operations and Safety and Security Training
  • The CTA Currently has over 10,000 Employees Including 600 Newly Hired Bus Operators in 2023 | The Agency is Doubling its Number of Rail Operator Training Slots to 200 This Year
  • Walking Distance from the Jefferson Park Transit Center (0.1 Miles) and the Jefferson Park Blue Line Station (0.2 Miles)
  • 0.2 Miles from the Interstate 90 Interchange | 163,700 Vehicles per Day
  • 361,018 People Live Within Three Miles | 278,734 People Work Within Three Miles

Investment Overview

Marcus & Millichap is pleased to exclusively present CTA University, a single-tenant net-leased property occupied by the Chicago Transit Authority. This property features attractive lease terms, with 3% annual rental increases throughout the term, and a guarantee by the Chicago Transit Authority, an Illinois Municipal Corporation. Subject property is used by CTA's training and workforce development staff to provide training to CTA employees in various areas. Currently, the CTA has over 10,000 employees, including 600 newly hired bus drivers in 2023. The agency plans on doubling its number of rail operating training slots to 200 in 2024. This high-end center recently underwent interior renovations and has many technological upgrades. Conveniently, subject property is located in close proximity to many transit centers and stations, Interstate 90 (163,700 VPD), and has over 361,000 people living within three miles.

Exclusively Listed By

  • Sean R. Sharko

    Senior Managing Director Investments

    (630) 570-2238

    Email Sean

    License(s): IL: 471.010712

    Chicago Oak Brook

  • Austin Weisenbeck

    Senior Managing Director Investments

    (630) 570-2169

    Email Austin

    License(s): IL: 475.140200

    Chicago Oak Brook

Financing By

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