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Warehouse

5009 West Lake Street

5009 W Lake St, Melrose Park, IL 60160

Listing Price: $875,000

Cap Rate
10.85%
Gross SF
16,347
Price/Gross SF
$53.53
Lot Size
0.94 acres
Year Built
1969
Rentable SF
16,347

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5009 West Lake Street in Melrose Park, Illinois leased to Peerless Fence Group. The subject property consists of approximately 16,347 square feet and is situated on 0.94 acres of land. The asset features a high-quality office build out and approximately 15,000 square feet of fenced in yard space. With 4 years remaining on a 10-year triple net lease, the tenant’s occupancy is secured long-term. The property has highly desirable frontage on West Lake Street and is closely located to interstate highways 290 and 294. Situated within Cook County, the property is eligible for Class-B tax incentives through 2027, which can be renewed upon application. Founded in 1961, Peerless Fence Group is one of Chicagoland’s largest fence installation companies. Peerless Fence Group is a conglomerate of 12 fencing related companies. In addition to its operations in metro Chicago, Peerless Fence Group has locations near Indianapolis, Indiana, Cincinnati and Columbus, Ohio. The company and its subsidiaries have provided fencing to some of Chicago’s most iconic venues including the Adler Planetarium, Chicago Botanical Gardens, and Brookfield Zoo, and notably the outfield fence at Wrigley Field (peerlessfence.com). 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

  • Long Term Occupancy With 4 Years Remaining on a 10 Year NNN Lease
  • Close Proximity to Major Highways I-290 and I-294
  • High Quality Office Build Out and Approximately 15,000 Square Feet of Fenced in Yard Space

Exclusively Listed By

Financing By

Listing Price: $875,000

Cap Rate
10.85%
Gross SF
16,347
Price/Gross SF
$53.53
Lot Size
0.94 acres
Year Built
1969
Rentable SF
16,347

Investment Highlights

  • Long Term Occupancy With 4 Years Remaining on a 10 Year NNN Lease
  • Close Proximity to Major Highways I-290 and I-294
  • High Quality Office Build Out and Approximately 15,000 Square Feet of Fenced in Yard Space

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5009 West Lake Street in Melrose Park, Illinois leased to Peerless Fence Group. The subject property consists of approximately 16,347 square feet and is situated on 0.94 acres of land. The asset features a high-quality office build out and approximately 15,000 square feet of fenced in yard space. With 4 years remaining on a 10-year triple net lease, the tenant’s occupancy is secured long-term. The property has highly desirable frontage on West Lake Street and is closely located to interstate highways 290 and 294. Situated within Cook County, the property is eligible for Class-B tax incentives through 2027, which can be renewed upon application. Founded in 1961, Peerless Fence Group is one of Chicagoland’s largest fence installation companies. Peerless Fence Group is a conglomerate of 12 fencing related companies. In addition to its operations in metro Chicago, Peerless Fence Group has locations near Indianapolis, Indiana, Cincinnati and Columbus, Ohio. The company and its subsidiaries have provided fencing to some of Chicago’s most iconic venues including the Adler Planetarium, Chicago Botanical Gardens, and Brookfield Zoo, and notably the outfield fence at Wrigley Field (peerlessfence.com). 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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