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Office Warehouse

Oak Creek Center

818 Oak Creek Dr, Lombard, IL 60148

Listing Price: $10,250,000

Cap Rate
7.46%
Gross SF
79,462
Price/Gross SF
$128.99
Lot Size
4.91 acres
Year Built
1985
Rentable SF
79,462

Investment Overview

Marcus & Millichap is pleased to present the sale offering of the Oak Creek Center, a stabilized multi-tenant industrial/flex facility located at 818-890 Oak Creek Drive, Lombard, IL. The property sits directly north of Interstate 88 and east of Interstate 355, providing immediate access to downtown Chicago and O’Hare International Airport. In addition to major highways, the subject location contains dense corridors of economic drivers and national retailers. The subject property is 79,462 square-feet of industrial/flex space which sits on 4.91 acres and was constructed in 1985. The asset contains six total units ranging in size from 8,346 to 23,171 square-feet. The property is comprised of a stable tenant base including both regional and national credit tenants. Most notably, Home Depot occupies 29.16% of the RSF while KIA Motors occupies 23.34% of the total RSF. Both tenants have leases which run through 2027, with the buildings WALT (weighted average lease term) being 4.3 years. The property contains six docks and five drive-in doors. The purchase of this offering presents an investor with the opportunity to acquire an industrial/flex asset with a stable and staggered rent roll. At the current list price of $10,250,000 the investment generates and in-pace net operating income of $764,357 which equates to a 7.46% cap rate. Based on current debt available in today’s market (subject to change), the Oak Creek Center yields a cash-on-cash return of 10.61%.

Investment Highlights

  • Stabilized multi-tenant industrial/flex investment offering
  • Quality tenancy | Anchored by Home Depot and KIA Motors
  • Staggered rent roll | WALT remaining of 4.3 years
  • Strategic location | Immediate access to I-355, I-290, I-294 & I-88
  • Strong demographics | Average household income of $94,000+ within 5-mile radius
  • Recent capital improvements completed | Parking lot and tenant upgrades

Exclusively Listed By

Listing Price: $10,250,000

Cap Rate
7.46%
Gross SF
79,462
Price/Gross SF
$128.99
Lot Size
4.91 acres
Year Built
1985
Rentable SF
79,462

Investment Highlights

  • Stabilized multi-tenant industrial/flex investment offering
  • Quality tenancy | Anchored by Home Depot and KIA Motors
  • Staggered rent roll | WALT remaining of 4.3 years
  • Strategic location | Immediate access to I-355, I-290, I-294 & I-88
  • Strong demographics | Average household income of $94,000+ within 5-mile radius
  • Recent capital improvements completed | Parking lot and tenant upgrades

Investment Overview

Marcus & Millichap is pleased to present the sale offering of the Oak Creek Center, a stabilized multi-tenant industrial/flex facility located at 818-890 Oak Creek Drive, Lombard, IL. The property sits directly north of Interstate 88 and east of Interstate 355, providing immediate access to downtown Chicago and O’Hare International Airport. In addition to major highways, the subject location contains dense corridors of economic drivers and national retailers. The subject property is 79,462 square-feet of industrial/flex space which sits on 4.91 acres and was constructed in 1985. The asset contains six total units ranging in size from 8,346 to 23,171 square-feet. The property is comprised of a stable tenant base including both regional and national credit tenants. Most notably, Home Depot occupies 29.16% of the RSF while KIA Motors occupies 23.34% of the total RSF. Both tenants have leases which run through 2027, with the buildings WALT (weighted average lease term) being 4.3 years. The property contains six docks and five drive-in doors. The purchase of this offering presents an investor with the opportunity to acquire an industrial/flex asset with a stable and staggered rent roll. At the current list price of $10,250,000 the investment generates and in-pace net operating income of $764,357 which equates to a 7.46% cap rate. Based on current debt available in today’s market (subject to change), the Oak Creek Center yields a cash-on-cash return of 10.61%.

Exclusively Listed By

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