Skip to main content

Single-Tenant Office

Rasmussen University

1400 Normantown Rd, Romeoville, IL 60446

Listing Price: $7,500,000

Cap Rate
9.10%
Tenant Name
Rasmussen University
Years Remaining On Lease
3.0
Guarantor
Corporate Guarantee
Rentable SF
25,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.30

Investment Overview

Marcus & Millichap is pleased to present the sale offering of Rasmussen University, a 100-percent occupied, single tenant, triple-net investment opportunity located at 1400 West Normantown Road, Romeoville, Illinois. The property sits directly south of I-55, providing immediate access to downtown Chicago and Midway Airport. In addition to major highway access, the property resides in the affluent suburb of Romeoville, strategically located in close proximity to national retailers and economic drivers. The subject property is 25,000 square feet, sitting on 4.17 acres and was built-to-suit for the current tenant in 2009. The property is fully-occupied by Rasmussen University, a national network of universities across the country with 23 campuses, over 18,000 students, and has been in business for over 120 years. Rasmussen University was recently acquired by American Public Education Inc., a publicly traded company with a projected annual revenue of over $600 million and adjusted EBITDA of $100 million. Rasmussen University has occupied the property since 2009 with the current lease running through October 2024, one five-year option to renew, and a 1.5 percent annual rental increase. The purchase of this offering presents an investor with the opportunity to acquire a passive triple-net investment with a high quality tenant. At the current list price of $7,500,000, the investment generates an in-place net operating income of $682,524.12 which equates to a 9.10 percent cap rate.

Investment Highlights

  • Single Tenant Triple-Net Offering | Leased to Rasmussen University
  • Credit Tenancy | Acquired in 2021 by American Public Education Inc. | NASDAQ: APEI
  • Newly-Constructed | Built-to-Suit in 2009
  • Large Land Parcel | 4.17 Acres with Excess Land for Future Development
  • Strategic Location | Immediate Access to I-55
  • Strong Demographics | Average Household Income Over $124,000 within a Five-Mile Radius

Exclusively Listed By

Single-Tenant Office

Rasmussen University

Listing Price: $7,500,000

Cap Rate
9.10%
Tenant Name
Rasmussen University
Years Remaining On Lease
3.0
Guarantor
Corporate Guarantee
Rentable SF
25,000
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$27.30

Investment Highlights

  • Single Tenant Triple-Net Offering | Leased to Rasmussen University
  • Credit Tenancy | Acquired in 2021 by American Public Education Inc. | NASDAQ: APEI
  • Newly-Constructed | Built-to-Suit in 2009
  • Large Land Parcel | 4.17 Acres with Excess Land for Future Development
  • Strategic Location | Immediate Access to I-55
  • Strong Demographics | Average Household Income Over $124,000 within a Five-Mile Radius

Investment Overview

Marcus & Millichap is pleased to present the sale offering of Rasmussen University, a 100-percent occupied, single tenant, triple-net investment opportunity located at 1400 West Normantown Road, Romeoville, Illinois. The property sits directly south of I-55, providing immediate access to downtown Chicago and Midway Airport. In addition to major highway access, the property resides in the affluent suburb of Romeoville, strategically located in close proximity to national retailers and economic drivers. The subject property is 25,000 square feet, sitting on 4.17 acres and was built-to-suit for the current tenant in 2009. The property is fully-occupied by Rasmussen University, a national network of universities across the country with 23 campuses, over 18,000 students, and has been in business for over 120 years. Rasmussen University was recently acquired by American Public Education Inc., a publicly traded company with a projected annual revenue of over $600 million and adjusted EBITDA of $100 million. Rasmussen University has occupied the property since 2009 with the current lease running through October 2024, one five-year option to renew, and a 1.5 percent annual rental increase. The purchase of this offering presents an investor with the opportunity to acquire a passive triple-net investment with a high quality tenant. At the current list price of $7,500,000, the investment generates an in-place net operating income of $682,524.12 which equates to a 9.10 percent cap rate.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower