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Office Warehouse

9207 Ivanhoe Schiller Park

9207 Ivanhoe St, Schiller Park, IL 60176

Listing Price: $799,000

Cap Rate
6.51%
Gross SF
12,030
Price/Gross SF
$66.42
Lot Size
0.46 acres
Year Built
1970
Rentable SF
12,030

Investment Overview

Marcus & Millichap is pleased to present 9207 Ivanhoe Street in the Schiller Park neighborhood positioned in the West Cook Industrial Submarket. The property is located less than two miles from O'Hare airport and provides immediate access to Interstate 294 and I-90. the property consists of approximately 12,030 square feet of warehouse space along with approximately 900 square feet of office space situated on 0.46 acres of land. This fully occupied four-tenant asset features one high dock door and six grade-level doors. The owner recently installed a new awning on the front of the building and replaced the parking lot along with some concrete work for an estimated cost of $50,000. The current industrial submarket in the immediate area of the property has shown strength and consistency over the past years. Since 2012, vacancy rates for industrial space in this market have consistently been under 10%. Currently, the vacancy rate is at 3.5% (Source: CoStar). The limited amount of available space in this market should bode well for a new owner to seamlessly backfill spaces as they become available. A new owner could benefit from this property being situated in a federal Opportunity Zone created program as of 2017 that provides sizable tax incentives in the form of deferral and elimination of capital gains taxes. For more information see http:/irs.gov/newsroom/opportunity-zone frequently-asked questions. Each of the four tenants recently renewed their leases with the average tenancy in the building being over 15 years demonstrating the tenant's commitment to the location.

Investment Highlights

  • Positioned in West Cook County Industrial Submarket (Less than Two Miles from O'Hare Airport) with a Vacancy Rate of 3.5%
  • Located in a Federal Opportunity Zone that Provides Sizable Tax Incentives in The Form of Deferral and Elimination of Capital Gains Taxes
  • Average Tenancy in the Building is Over 15 Years Demonstrating the Tenant's Commitment to the Location
  • Three of the Four Tenants Recently Extended Their Leases, the Other Tenant will Sign a 2 Year Lease at Closed of Escrow

Exclusively Listed By

Office Warehouse

9207 Ivanhoe Schiller Park

Listing Price: $799,000

Cap Rate
6.51%
Gross SF
12,030
Price/Gross SF
$66.42
Lot Size
0.46 acres
Year Built
1970
Rentable SF
12,030

Investment Highlights

  • Positioned in West Cook County Industrial Submarket (Less than Two Miles from O'Hare Airport) with a Vacancy Rate of 3.5%
  • Located in a Federal Opportunity Zone that Provides Sizable Tax Incentives in The Form of Deferral and Elimination of Capital Gains Taxes
  • Average Tenancy in the Building is Over 15 Years Demonstrating the Tenant's Commitment to the Location
  • Three of the Four Tenants Recently Extended Their Leases, the Other Tenant will Sign a 2 Year Lease at Closed of Escrow

Investment Overview

Marcus & Millichap is pleased to present 9207 Ivanhoe Street in the Schiller Park neighborhood positioned in the West Cook Industrial Submarket. The property is located less than two miles from O'Hare airport and provides immediate access to Interstate 294 and I-90. the property consists of approximately 12,030 square feet of warehouse space along with approximately 900 square feet of office space situated on 0.46 acres of land. This fully occupied four-tenant asset features one high dock door and six grade-level doors. The owner recently installed a new awning on the front of the building and replaced the parking lot along with some concrete work for an estimated cost of $50,000. The current industrial submarket in the immediate area of the property has shown strength and consistency over the past years. Since 2012, vacancy rates for industrial space in this market have consistently been under 10%. Currently, the vacancy rate is at 3.5% (Source: CoStar). The limited amount of available space in this market should bode well for a new owner to seamlessly backfill spaces as they become available. A new owner could benefit from this property being situated in a federal Opportunity Zone created program as of 2017 that provides sizable tax incentives in the form of deferral and elimination of capital gains taxes. For more information see http:/irs.gov/newsroom/opportunity-zone frequently-asked questions. Each of the four tenants recently renewed their leases with the average tenancy in the building being over 15 years demonstrating the tenant's commitment to the location.

Exclusively Listed By

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