Skip to main content

Single-Tenant Industrial

2900 N Oakley Ave

2900 N Oakley Ave, Chicago, IL 60618

Listing Price: $10,000,000

Cap Rate
5.20%
Gross SF
42,367
Price/Gross SF
$236.03
Lot Size
2.29 acres
Year Built
1975
Rentable SF
42,367

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 2900-2950 N Oakley Ave, Chicago, Illinois, a rare single-tenant urban industrial investment opportunity. The property is located less than one mile from the Lincoln Yards development, and contains Chicago River access for distribution. This infill location is directly off the I-90 and I-94 interchange providing immediate highway access. The 42,367 square foot property is the headquarters to Vosges Haut-Chocolat, a privately held company that manufactures and distributes high end chocolates, caramels, and other treats. Established in 1998, Vosges Haut-Chocolat has built a strong brand for their luxury chocolates in both ecommerce platforms, including 1-800-Flowers, and major grocery retailers such as Kroger, Whole Foods and Jewel Osco. The tenant signed a new 10-year lease in 2016, with two additional 5-year options. They are operating on a triple net lease with 2% annual rental increases.

The purchase of this offering presents an investor with a stable hands-off industrial opportunity, as well an opportunity for significant upside in rents and intrinsic land vale. At the current list price of $10,000,000, the investment generates an in-place NOI of $519,567.00 which equates to a 5.20% cap rate. By raising rent to a market rate of $17 per square-foot on a net basis, the asset would yield a potential pro-forma NOI of $720,239 which equates to a 7.20% cap rate.

Investment Highlights

  • Rare single-tenant urban industrial investment opportunity
  • Below market rent and intrinsic land value
  • Contains Chicago River access for distribution
  • Less than one mile from Lincoln Yards development project
  • Tenant headquarters | Vosges Haut-Chocolat
  • Situated on 2.29 acres | 99,752 SF

Exclusively Listed By

Financing By

Single-Tenant Industrial

2900 N Oakley Ave

Listing Price: $10,000,000

Cap Rate
5.20%
Gross SF
42,367
Price/Gross SF
$236.03
Lot Size
2.29 acres
Year Built
1975
Rentable SF
42,367

Investment Highlights

  • Rare single-tenant urban industrial investment opportunity
  • Below market rent and intrinsic land value
  • Contains Chicago River access for distribution
  • Less than one mile from Lincoln Yards development project
  • Tenant headquarters | Vosges Haut-Chocolat
  • Situated on 2.29 acres | 99,752 SF

Investment Overview

Marcus & Millichap is pleased to present the sale offering of 2900-2950 N Oakley Ave, Chicago, Illinois, a rare single-tenant urban industrial investment opportunity. The property is located less than one mile from the Lincoln Yards development, and contains Chicago River access for distribution. This infill location is directly off the I-90 and I-94 interchange providing immediate highway access. The 42,367 square foot property is the headquarters to Vosges Haut-Chocolat, a privately held company that manufactures and distributes high end chocolates, caramels, and other treats. Established in 1998, Vosges Haut-Chocolat has built a strong brand for their luxury chocolates in both ecommerce platforms, including 1-800-Flowers, and major grocery retailers such as Kroger, Whole Foods and Jewel Osco. The tenant signed a new 10-year lease in 2016, with two additional 5-year options. They are operating on a triple net lease with 2% annual rental increases.

The purchase of this offering presents an investor with a stable hands-off industrial opportunity, as well an opportunity for significant upside in rents and intrinsic land vale. At the current list price of $10,000,000, the investment generates an in-place NOI of $519,567.00 which equates to a 5.20% cap rate. By raising rent to a market rate of $17 per square-foot on a net basis, the asset would yield a potential pro-forma NOI of $720,239 which equates to a 7.20% cap rate.

Exclusively Listed By

Financing By

MM Texture Background
MM Textured Background Lower