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Warehouse

Multi-Tenant Small Bay/Flex Industrial Portfolio

6151 W Howard St, Niles, IL 60714

Listing Price: $52,000,000

Cap Rate
7.24%
Gross SF
543,709
Price/Gross SF
$95.64
Lot Size
28.56 acres
Year Built
1956
Rentable SF
543,709

Investment Overview

Marcus & Millichap is pleased to present the fee-simple sale offering of a three-property, multi-tenant small bay/flex portfolio strategically located across the core suburban submarkets of Niles, Glenview, and Arlington Heights, Illinois. With a combined footprint of approximately 543,709 square-feet, these assets offer strong in-place income with value-add potential through both future individual parcel sales and mark-to-market increases.

The purchase of this portfolio provides any investor, fund or institution with stable cash-flow and an immediate substantial footprint presence in the local market. At the current list price of $52,000,000 the offering generates an NOI of $3,763,115 which equates to a capitalization rate of 7.24%.

Deal is being offered on an As-Is basis, subject to existing roofs and Cash Base Tax proration.

Investment Highlights

  • Three-property multi-tenant small bay/flex portfolio | In-fill suburban Chicago locations
  • Small bay incubator style suites with a WALT of approximately 2.58 years remaining
  • Small bay incubator style suites with a WALT of approximately 2.58 years remaining
  • Strong mix of in-place income and value-add potential | Approximately 25% rental upside
  • Professionally leased and managed | Management willing to stay on for new purchaser
  • Excellent accessibility to major interstates and O'Hare International Airport
  • Strong suburban demographics and labor pools
  • Significant capital projects completed

Exclusively Listed By

Warehouse

Multi-Tenant Small Bay/Flex Industrial Portfolio

Listing Price: $52,000,000

Cap Rate
7.24%
Gross SF
543,709
Price/Gross SF
$95.64
Lot Size
28.56 acres
Year Built
1956
Rentable SF
543,709

Investment Highlights

  • Three-property multi-tenant small bay/flex portfolio | In-fill suburban Chicago locations
  • Small bay incubator style suites with a WALT of approximately 2.58 years remaining
  • Small bay incubator style suites with a WALT of approximately 2.58 years remaining
  • Strong mix of in-place income and value-add potential | Approximately 25% rental upside
  • Professionally leased and managed | Management willing to stay on for new purchaser
  • Excellent accessibility to major interstates and O'Hare International Airport
  • Strong suburban demographics and labor pools
  • Significant capital projects completed

Investment Overview

Marcus & Millichap is pleased to present the fee-simple sale offering of a three-property, multi-tenant small bay/flex portfolio strategically located across the core suburban submarkets of Niles, Glenview, and Arlington Heights, Illinois. With a combined footprint of approximately 543,709 square-feet, these assets offer strong in-place income with value-add potential through both future individual parcel sales and mark-to-market increases. The purchase of this portfolio provides any investor, fund or institution with stable cash-flow and an immediate substantial footprint presence in the local market. At the current list price of $52,000,000 the offering generates an NOI of $3,763,115 which equates to a capitalization rate of 7.24%. Deal is being offered on an As-Is basis, subject to existing roofs and Cash Base Tax proration.

Exclusively Listed By

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