Warehouse

831 Oakton Street

831 Oakton St, Elk Grove Village, IL 60007

Listing Price: $3,250,000

Cap Rate
7.98%
Gross SF
33,854
Price/Gross SF
$96.00
Lot Size
2.09 acres
Year Built
1992
Rentable SF
33,854

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 831 Oakton Street in Elk Grove Village, Illinois. The subject property consists of approximately 33,854 square feet of space and is situated on 2.09 acres of land. The asset features 12 clear height, 65 parking spaces, and 8 grade-level doors. The building is well-maintained with an emergency generator for Broadway Electric and CS2, a fire alarm system, and LED security lights. The varying lease terms and below market rents allow for an investor to increase their return quickly. With quick access to OHare International Airport, the subject property is in a tight barrier to entry submarket with a 5.76% vacancy rate.

Elk Grove Village has established itself as one of the most business-friendly locations in the United States. With approximately 3,600 neighbor businesses, it has grown to become the largest business park in the country, covering nearly five square miles adjacent to global and national transportation hubs. Situated adjacent to OHare International Airport and the City of Chicago, Elk Grove Village also offers especially convenient access to Interstates 90, 290, 294 and 355, as well as the 390 Expressway. Extensive freight rail service serves companies within the commercial zone. Elk Grove Village continues to have the lowest combined property tax rate among comparable Cook County suburbs. (elkgrovesites.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. Chicagos 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

  • Emergency Generator for Broadway Electric and CS2
  • Fire Alarm System - LED Security Lights
  • Varying Lease Terms, Below Market Rents Allow For Investor to Increase Their Return
  • Potential to Sell Units as Individual Condos
  • Long Tenant History
  • Tight Barrier to Entry Submarket - Vacancy Rate 5.76%

Exclusively Listed By

Financing By

Listing Price: $3,250,000

Cap Rate
7.98%
Gross SF
33,854
Price/Gross SF
$96.00
Lot Size
2.09 acres
Year Built
1992
Rentable SF
33,854

Investment Highlights

  • Emergency Generator for Broadway Electric and CS2
  • Fire Alarm System - LED Security Lights
  • Varying Lease Terms, Below Market Rents Allow For Investor to Increase Their Return
  • Potential to Sell Units as Individual Condos
  • Long Tenant History
  • Tight Barrier to Entry Submarket - Vacancy Rate 5.76%

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 831 Oakton Street in Elk Grove Village, Illinois. The subject property consists of approximately 33,854 square feet of space and is situated on 2.09 acres of land. The asset features 12 clear height, 65 parking spaces, and 8 grade-level doors. The building is well-maintained with an emergency generator for Broadway Electric and CS2, a fire alarm system, and LED security lights. The varying lease terms and below market rents allow for an investor to increase their return quickly. With quick access to OHare International Airport, the subject property is in a tight barrier to entry submarket with a 5.76% vacancy rate.

Elk Grove Village has established itself as one of the most business-friendly locations in the United States. With approximately 3,600 neighbor businesses, it has grown to become the largest business park in the country, covering nearly five square miles adjacent to global and national transportation hubs. Situated adjacent to OHare International Airport and the City of Chicago, Elk Grove Village also offers especially convenient access to Interstates 90, 290, 294 and 355, as well as the 390 Expressway. Extensive freight rail service serves companies within the commercial zone. Elk Grove Village continues to have the lowest combined property tax rate among comparable Cook County suburbs. (elkgrovesites.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. Chicagos 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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