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Single-Tenant Industrial

Graphic Engravers Inc

691 Country Club Dr, Bensenville, IL 60106

Listing Price: $925,000

Cap Rate
8.04%
Gross SF
11,500
Price/Gross SF
$80.43
Lot Size
0.60 acres
Year Built
1979
Rentable SF
11,500

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 691 Country Club Drive in Bensenville, Illinois. The subject property consists of approximately 11,500 square feet of warehouse space and is situated on .6 acres of land. The asset features a single tenant space that can be divisible into two separate units with 20 total parking spaces. The property is occupied by Graphic Engravers, a company with 60 years of hands-on experience in prepress consultation and plate manufacturing. The tenant recently signed a two-year triple net lease, minimizing landlord responsibility and expenses. Situated just west of O’Hare International Airport, the property is strategically located within the O’Hare submarket with proximate access to major freeways including Interstate 90. The O’Hare International Airport is one of the busiest airports in the world for cargo traffic, making the O’Hare Submarket is consistently one of the most sought-after industrial submarkets in the Chicago area. The onset of the pandemic has increased O’Hare’s freight traffic, with total tonnage up 45 percent so far in 2021 compared to last year. This increase in activity has helped boost demand in the O’Hare submarket. Net absorption totaled over 2.2 million square feet in the last 12 months, 546 percent higher than the 5-year average 344,500 square feet. Strong demand for industrial space has been met by an increase in supply, as approximately 2.2 million square feet was delivered over the past year. As a result, vacancy rates have held steady at 6.4 percent, with market rents surging 7.3 percent annually (CoStar). Vacancy rates, rent growth, and net absorption have combined to make the O’Hare submarket a tough barrier to entry, benefiting industrial owners. The City of Chicago covers an area of 60,000 hectares and sits 578 feet above sea level on the southwestern shore of Lake Michigan. At 190 kilometers wide and 495 kilometers long, it is the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago’s extensive parklands, including 3,000 hectares of city parks, attract an estimated 86 million visitors annually. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 2,716,450 residents, 50 wards, and 8 major league sports teams including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic and environmental sustainability. (Chicago.gov)

Investment Highlights

  • 11,500 Square-Foot Industrial Warehouse Situated on 0.6 Acres
  • New Two Year Lease with Graphic Engravers, Over 60 Years Hands-On Experience in Prepress Consultation and Plate Manufacturing
  • Triple-Net Lease, Minimizing Landlord Responsibility and Expenses

Exclusively Listed By

Financing By

Single-Tenant Industrial

Graphic Engravers Inc

Listing Price: $925,000

Cap Rate
8.04%
Gross SF
11,500
Price/Gross SF
$80.43
Lot Size
0.60 acres
Year Built
1979
Rentable SF
11,500

Investment Highlights

  • 11,500 Square-Foot Industrial Warehouse Situated on 0.6 Acres
  • New Two Year Lease with Graphic Engravers, Over 60 Years Hands-On Experience in Prepress Consultation and Plate Manufacturing
  • Triple-Net Lease, Minimizing Landlord Responsibility and Expenses

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 691 Country Club Drive in Bensenville, Illinois. The subject property consists of approximately 11,500 square feet of warehouse space and is situated on .6 acres of land. The asset features a single tenant space that can be divisible into two separate units with 20 total parking spaces. The property is occupied by Graphic Engravers, a company with 60 years of hands-on experience in prepress consultation and plate manufacturing. The tenant recently signed a two-year triple net lease, minimizing landlord responsibility and expenses. Situated just west of O’Hare International Airport, the property is strategically located within the O’Hare submarket with proximate access to major freeways including Interstate 90. The O’Hare International Airport is one of the busiest airports in the world for cargo traffic, making the O’Hare Submarket is consistently one of the most sought-after industrial submarkets in the Chicago area. The onset of the pandemic has increased O’Hare’s freight traffic, with total tonnage up 45 percent so far in 2021 compared to last year. This increase in activity has helped boost demand in the O’Hare submarket. Net absorption totaled over 2.2 million square feet in the last 12 months, 546 percent higher than the 5-year average 344,500 square feet. Strong demand for industrial space has been met by an increase in supply, as approximately 2.2 million square feet was delivered over the past year. As a result, vacancy rates have held steady at 6.4 percent, with market rents surging 7.3 percent annually (CoStar). Vacancy rates, rent growth, and net absorption have combined to make the O’Hare submarket a tough barrier to entry, benefiting industrial owners. The City of Chicago covers an area of 60,000 hectares and sits 578 feet above sea level on the southwestern shore of Lake Michigan. At 190 kilometers wide and 495 kilometers long, it is the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago’s extensive parklands, including 3,000 hectares of city parks, attract an estimated 86 million visitors annually. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 2,716,450 residents, 50 wards, and 8 major league sports teams including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic and environmental sustainability. (Chicago.gov)

Exclusively Listed By

Financing By

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