Vacant-User

Vacant Value-Add Industrial

340 Renner Dr, Elgin, IL 60123

Listing Price: $4,700,000

Gross SF
125,131
Price/Gross SF
$37.56
Lot Size
6.24 acres
Rentable SF
125,131

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 340 Renner Drive, a vacant industrial building formally occupied by Suburban Plastics Company. The subject property is located off US-20, also known as the Elgin Bypass. This location is surrounded by nationally recognized companies such as XPO Logistics, R + L Carriers, Commonwealth Edison Company, as well as Elgin Community College and Elgin Shopping Mall.

This value-add offering consists of 125,131 rentable square feet which are divided into separate units. Currently, the building consists of a desirable mix of units ranging from approximately 50,000 to 5,500 rentable square feet. Each unit contains minimal office build-out, warehouse, and dock access.

This offering presents an investor with a value-add opportunity within the low real estate tax location of Kane County. By back-filling the asset with market rents, an investor will have the ability to create significant cash-flow and stability with a diverse mix of tenants. Furthermore, this opportunity lends itself to a potential owner-user who is interested in occupying a portion of the building. This would allow a company to lease the remainder of the property to cover their basis or create additional cash-flow.

At list price of $4,700,000, a purchaser has the opportunity to implement a strong pro-forma cap rate through back-filling the available units.

Investment Highlights

  • Value-add/owner-user investment offering
  • Significant value-add opportunity through back-filling units
  • Desirable Unit Mix | Range From 50,000 to 5,500 Square Feet
  • Ample Dock and Drive-In Access | 13 Exterior Docks and Six Drive-In Doors
  • Strong Leasing Market | 4.1 Percent Vacancy Within Three-Mile Radius
  • Low Kane County real estate taxes

Exclusively Listed By

Vacant-User

Vacant Value-Add Industrial

Listing Price: $4,700,000

Gross SF
125,131
Price/Gross SF
$37.56
Lot Size
6.24 acres
Rentable SF
125,131

Investment Highlights

  • Value-add/owner-user investment offering
  • Significant value-add opportunity through back-filling units
  • Desirable Unit Mix | Range From 50,000 to 5,500 Square Feet
  • Ample Dock and Drive-In Access | 13 Exterior Docks and Six Drive-In Doors
  • Strong Leasing Market | 4.1 Percent Vacancy Within Three-Mile Radius
  • Low Kane County real estate taxes

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 340 Renner Drive, a vacant industrial building formally occupied by Suburban Plastics Company. The subject property is located off US-20, also known as the Elgin Bypass. This location is surrounded by nationally recognized companies such as XPO Logistics, R + L Carriers, Commonwealth Edison Company, as well as Elgin Community College and Elgin Shopping Mall.

This value-add offering consists of 125,131 rentable square feet which are divided into separate units. Currently, the building consists of a desirable mix of units ranging from approximately 50,000 to 5,500 rentable square feet. Each unit contains minimal office build-out, warehouse, and dock access.

This offering presents an investor with a value-add opportunity within the low real estate tax location of Kane County. By back-filling the asset with market rents, an investor will have the ability to create significant cash-flow and stability with a diverse mix of tenants. Furthermore, this opportunity lends itself to a potential owner-user who is interested in occupying a portion of the building. This would allow a company to lease the remainder of the property to cover their basis or create additional cash-flow.

At list price of $4,700,000, a purchaser has the opportunity to implement a strong pro-forma cap rate through back-filling the available units.

Exclusively Listed By

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