Investment Overview

Marcus & Millichap is pleased to offer for sale the NAF Machinery Single Tenant Industrial property located at 900 Chaddick Drive in Wheeling, Illinois. This 75,902-square-foot single-tenant industrial property is currently 100% leased, with an under-market rent structure that the existing tenant is paying, making for a profitable mark-to-market scenario upon lease extension or re-tenanting of the building. The facility was constructed in 1984 and is situated on a 5.5-acre land parcel. Of significance is the excess land on the site that is pad-ready and entitled to accommodate an expansion of up to 35,000 square feet. The building features an 18-foot clear height and offers 7.2 percent of well-finished office build-out, which includes an executive conference room and 7,000 square feet of quality, elevator-served mezzanine space. The property also benefits from a renovated parking lot and a roof replacement completed in 2012. Previously used as a precision metal manufacturing plant, the building is now occupied by NAF Machinery Corp., an Illinois corporation guaranteed by NAF Corp., LTD, and is still leased through July 2026. NAF has one five-year renewal option at "Fair Market Rate," should NAF choose to exercise this option. It is estimated that NAF’s current rent structure is $1.50 PSF below current market industrial rents in the submarket. This positions the next owner of the building for increased valuation by raising rents to market levels. The property is located at 900 Chaddick Drive in Wheeling, Illinois, 27 miles northwest of downtown Chicago and 12 miles north of Chicago O’Hare International Airport. Situated in a well-occupied industrial park, this industrial property is located just west of Chicago Executive Airport (PWK) and is considered an excellent infill location. Just to the west of the property is the North Central Service Metra line, which connects downtown Chicago to the Illinois/Wisconsin border. The nearest Metra station for this line is approximately two miles north of the property. Easy access to the area is provided by Interstate 294. TERMS OF SALE: Property is subject to Market Offers.