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Self-Storage Facility

Extra Space Storage

3940 E 106th St, Chicago, IL 60617

Listing Price: $12,500,000

Cap Rate
6.53%
Number of Units
639
Occupancy
83.9%
Gross SF
61,009
Rentable SF
61,009
Price/Rentable SF
$204.89
Year Built
2019

Investment Overview

Since opening in late 2019 the property has exceeded lease up projections tracking 3.65 percent physical lease up per month. The property is nearing stabilization at 86 percent allowing the next investor to push rates and drive significant revenue growth in the first year of ownership. Located in a dense residential neighborhood with zero competitors in the three-mile trade area. Most of competition just outside the three-mile ring boasts high 90’s occupancy and rates in the $1.75 to $1.85 range. The existing building was upgraded with a brand new TPO roof, new HVAC system, new fire suppression system, new elevator and lift as well significant tuckpointing.

Investment Highlights

  • Paved Asphalt
  • Heavy Duty Elevator and Lift
  • 24-Hour Security Camera Monitoring and Controlled Key-Pad Entry

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Self-Storage Facility

Extra Space Storage

Listing Price: $12,500,000

Cap Rate
6.53%
Number of Units
639
Occupancy
83.9%
Gross SF
61,009
Rentable SF
61,009
Price/Rentable SF
$204.89
Year Built
2019

Investment Highlights

  • Paved Asphalt
  • Heavy Duty Elevator and Lift
  • 24-Hour Security Camera Monitoring and Controlled Key-Pad Entry

Investment Overview

Since opening in late 2019 the property has exceeded lease up projections tracking 3.65 percent physical lease up per month. The property is nearing stabilization at 86 percent allowing the next investor to push rates and drive significant revenue growth in the first year of ownership. Located in a dense residential neighborhood with zero competitors in the three-mile trade area. Most of competition just outside the three-mile ring boasts high 90’s occupancy and rates in the $1.75 to $1.85 range. The existing building was upgraded with a brand new TPO roof, new HVAC system, new fire suppression system, new elevator and lift as well significant tuckpointing.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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