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Office

The Vernon Office Portfolio

7840 Graphics Dr, Tinley Park, IL 60477

Listing Price: $24,300,000

Cap Rate
9.00%
Gross SF
150,394
Rentable SF
150,394
Price/Gross SF
$161.58
Lot Size
19.00 acres
Year Built
2008

Investment Overview

Marcus & Millichap is proud to present the Vernon Office Portfolio, located in Tinley Park, Illinois. This property encompasses five buildings with a combined total of 150,394 square feet, set on 19 acres of land. All tenants operate on a Triple-Net lease structure. The portfolio includes five parcels and offers premium tenant amenities, along with out lots designated for detention and wetlands that enhance the park’s tranquil atmosphere. The occupancy of the portfolio has never been below 90 percent since its completion and stabilization in 2012.

7840 Graphics Drive - is a prestigious 23,050-square-foot Class “A” professional office building is in Tinley Park’s most upscale business park. It is fully leased to two strong tenants under a Triple-Net structure: the International Brotherhood of Electrical Workers (IBEW) and Payroc. IBEW is a prominent labor union representing electrical workers across the U.S. and Canada. Founded in 1891, the organization is dedicated to improving the rights, benefits, and working conditions of its members, including electricians, linemen, and other electrical professionals. With its long-standing reputation and substantial membership base, IBEW offers a stable, reliable tenant with strong financial standing. Payroc, a leading payment processing provider, offers services that streamline to secure electronic transactions for businesses. With a solid financial performance and growth trajectory fueled by e-commerce expansion, Payroc is a reliable tenant, further supported by its affiliations with Fifth Third and Wells Fargo Bank.

7851 W. 185th -This office is the largest property in the portfolio, beautifully nestled between two scenic lakes. The property has a diverse mix of tenants, including law firms, medical practices, and financial services, operating under staggered leases. With an occupancy rate of 94 percent and a Triple-Net lease structure, it generates reliable income with minimal landlord responsibilities. Vehicle Management Solutions (VMS), one of the major tenants, is an industry leader in vehicle management services, including tracking and maintenance. Their long-term lease reflects their confidence in the property and area. ADM Investor Services (ADMIS), a subsidiary of Archer Daniels Midland, offers trading and risk management services globally. As a tenant, ADMIS brings financial strength, backed by its Fitch 'A' credit rating, enhancing the overall stability of the property.

18440 Thompson Ct. - The Vernon Building, the first in this portfolio, has maintained long-term commitment, with some tenants occupying the space in the building for over a decade. The building houses professional tenants, with a significant portion of its occupancy consisting of medical practices.
Strivant Health, one of the largest tenants, renewed its lease post-pandemic, reaffirming its status as a leader in healthcare management in the Midwest. Their expertise in streamlining operations and improving patient care makes them a valued partner. Additionally, the Special Olympics signed a new lease in 2024, committing to using the site as their Region E headquarters through 2031. The financial stability of the Special Olympics, driven by donations and sponsorships, further supports the property's reliability.
18660 Graphics Drive - One of the newer properties in the portfolio, this building is fully leased under a Triple-Net lease structure, minimizing landlord responsibilities. Since the pandemic, all tenants have either renewed or signed new leases, underscoring the property's appeal. Tinley Park Open MRI & Imaging has been a tenant since 2011 and recently exercised a 5-year extension option, ensuring their presence until
at least 2029. With highly qualified staff and state-of-the-art diagnostic equipment, the center provides essential services like CT scans, X-rays, and ultrasounds. RHM Staffing Solutions, another major tenant, offers staffing services across eight states and has a solid financial foundation, ensuring reliable lease payments and overall property stability.

18670 Graphics Drive - This sister property to 18660 offers 23,050 square feet of Class “A” office space. It is home to a healthcare consultancy firm, a staffing company, and Vernon Development, Inc., which is responsible for the construction of the office park.

Investment Highlights

  • Situated in Tinley Park's office campus in Will County, the office park benefits from lower taxes and facilitates high tenant retention.
  • Close to many major amenities those being shopping centers, Tinley Park Convention Center, and modern hotels.
  • Access to public transportation (Metra, Pace bus stops) nearby.

Exclusively Listed By

Financing By

Office

The Vernon Office Portfolio

Listing Price: $24,300,000

Cap Rate
9.00%
Gross SF
150,394
Rentable SF
150,394
Price/Gross SF
$161.58
Lot Size
19.00 acres
Year Built
2008

Investment Highlights

  • Situated in Tinley Park's office campus in Will County, the office park benefits from lower taxes and facilitates high tenant retention.
  • Close to many major amenities those being shopping centers, Tinley Park Convention Center, and modern hotels.
  • Access to public transportation (Metra, Pace bus stops) nearby.

Investment Overview

Marcus & Millichap is proud to present the Vernon Office Portfolio, located in Tinley Park, Illinois. This property encompasses five buildings with a combined total of 150,394 square feet, set on 19 acres of land. All tenants operate on a Triple-Net lease structure. The portfolio includes five parcels and offers premium tenant amenities, along with out lots designated for detention and wetlands that enhance the park’s tranquil atmosphere. The occupancy of the portfolio has never been below 90 percent since its completion and stabilization in 2012. 7840 Graphics Drive - is a prestigious 23,050-square-foot Class “A” professional office building is in Tinley Park’s most upscale business park. It is fully leased to two strong tenants under a Triple-Net structure: the International Brotherhood of Electrical Workers (IBEW) and Payroc. IBEW is a prominent labor union representing electrical workers across the U.S. and Canada. Founded in 1891, the organization is dedicated to improving the rights, benefits, and working conditions of its members, including electricians, linemen, and other electrical professionals. With its long-standing reputation and substantial membership base, IBEW offers a stable, reliable tenant with strong financial standing. Payroc, a leading payment processing provider, offers services that streamline to secure electronic transactions for businesses. With a solid financial performance and growth trajectory fueled by e-commerce expansion, Payroc is a reliable tenant, further supported by its affiliations with Fifth Third and Wells Fargo Bank. 7851 W. 185th -This office is the largest property in the portfolio, beautifully nestled between two scenic lakes. The property has a diverse mix of tenants, including law firms, medical practices, and financial services, operating under staggered leases. With an occupancy rate of 94 percent and a Triple-Net lease structure, it generates reliable income with minimal landlord responsibilities. Vehicle Management Solutions (VMS), one of the major tenants, is an industry leader in vehicle management services, including tracking and maintenance. Their long-term lease reflects their confidence in the property and area. ADM Investor Services (ADMIS), a subsidiary of Archer Daniels Midland, offers trading and risk management services globally. As a tenant, ADMIS brings financial strength, backed by its Fitch 'A' credit rating, enhancing the overall stability of the property. 18440 Thompson Ct. - The Vernon Building, the first in this portfolio, has maintained long-term commitment, with some tenants occupying the space in the building for over a decade. The building houses professional tenants, with a significant portion of its occupancy consisting of medical practices. Strivant Health, one of the largest tenants, renewed its lease post-pandemic, reaffirming its status as a leader in healthcare management in the Midwest. Their expertise in streamlining operations and improving patient care makes them a valued partner. Additionally, the Special Olympics signed a new lease in 2024, committing to using the site as their Region E headquarters through 2031. The financial stability of the Special Olympics, driven by donations and sponsorships, further supports the property's reliability. 18660 Graphics Drive - One of the newer properties in the portfolio, this building is fully leased under a Triple-Net lease structure, minimizing landlord responsibilities. Since the pandemic, all tenants have either renewed or signed new leases, underscoring the property's appeal. Tinley Park Open MRI & Imaging has been a tenant since 2011 and recently exercised a 5-year extension option, ensuring their presence until at least 2029. With highly qualified staff and state-of-the-art diagnostic equipment, the center provides essential services like CT scans, X-rays, and ultrasounds. RHM Staffing Solutions, another major tenant, offers staffing services across eight states and has a solid financial foundation, ensuring reliable lease payments and overall property stability. 18670 Graphics Drive - This sister property to 18660 offers 23,050 square feet of Class “A” office space. It is home to a healthcare consultancy firm, a staffing company, and Vernon Development, Inc., which is responsible for the construction of the office park.

Exclusively Listed By

Financing By

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