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Office

Hartford Business Centre

729-765 N Route 83 Bensenville, IL, USA, Bensenville, IL 60106

Listing Price: $6,800,000

Cap Rate
9.33%
Rentable SF
66,853
Lot Size
5.09 acres
Year Built
1975

Investment Overview

Marcus & Millichap is pleased to present the sale offering of Hartford Business Centre, a multi-tenant, three-building office complex located at 729-765 N Route 83 in Bensenville, IL. The property is located in DuPage County and sits adjacent to O’Hare International Airport, located less than a mile west. In addition to immediate access to O’Hare, the property provides ideal conditions for all tenant profiles as it sits in close proximity to major highways I-290, I-294, I-90, and I-355, providing access to both downtown Chicago and the suburban Chicagoland area. The subject property consists of three single story office buildings totaling 66,853 square feet of incubator office space. 755 and 765 N Route 83 were constructed in 1975 and renovated in 2002, while 729 N Route 83 was constructed in 1985 and renovated in 2002. The asset contains 45 total units ranging from 759 to 5,708 square feet, and has an average unit size of 1,486 square feet. The incubator style units allow for ease of backfilling tenants and reconfiguration. All units have private entrances as well as 24-hour access. The subject property has a current occupancy of 97.43% occupied by a diverse roster of 41 tenants, and has maintained an occupancy of over 90% since the start of the Covid-19 pandemic. The purchase of this offering presents an investor with the opportunity to acquire a multi-tenant office asset with high current and historical occupancy in an ideal location adjacent to O’Hare Airport and in close proximity to major highways. At the list price of $6,800,000, the investment generates an in-place operating income of $634,584, which equates to an 9.33% CAP rate.

Investment Highlights

  • Multi-tenant office investment offering
  • 97.43% current occupancy
  • High historical occupancy | Over 90% occupied since start of Covid-19
  • Strategic location | Less than a mile from O'Hare International Airport
  • Major highway access | Close proximity to I-290, I-294, I-90, and I-355
  • Direct tenant access | 24-Hour access and private entrances
  • 5.09 Acre site | Zoned I-2 allowing future industrial development potential

Exclusively Listed By

Listing Price: $6,800,000

Cap Rate
9.33%
Rentable SF
66,853
Lot Size
5.09 acres
Year Built
1975

Investment Highlights

  • Multi-tenant office investment offering
  • 97.43% current occupancy
  • High historical occupancy | Over 90% occupied since start of Covid-19
  • Strategic location | Less than a mile from O'Hare International Airport
  • Major highway access | Close proximity to I-290, I-294, I-90, and I-355
  • Direct tenant access | 24-Hour access and private entrances
  • 5.09 Acre site | Zoned I-2 allowing future industrial development potential

Investment Overview

Marcus & Millichap is pleased to present the sale offering of Hartford Business Centre, a multi-tenant, three-building office complex located at 729-765 N Route 83 in Bensenville, IL. The property is located in DuPage County and sits adjacent to O’Hare International Airport, located less than a mile west. In addition to immediate access to O’Hare, the property provides ideal conditions for all tenant profiles as it sits in close proximity to major highways I-290, I-294, I-90, and I-355, providing access to both downtown Chicago and the suburban Chicagoland area. The subject property consists of three single story office buildings totaling 66,853 square feet of incubator office space. 755 and 765 N Route 83 were constructed in 1975 and renovated in 2002, while 729 N Route 83 was constructed in 1985 and renovated in 2002. The asset contains 45 total units ranging from 759 to 5,708 square feet, and has an average unit size of 1,486 square feet. The incubator style units allow for ease of backfilling tenants and reconfiguration. All units have private entrances as well as 24-hour access. The subject property has a current occupancy of 97.43% occupied by a diverse roster of 41 tenants, and has maintained an occupancy of over 90% since the start of the Covid-19 pandemic. The purchase of this offering presents an investor with the opportunity to acquire a multi-tenant office asset with high current and historical occupancy in an ideal location adjacent to O’Hare Airport and in close proximity to major highways. At the list price of $6,800,000, the investment generates an in-place operating income of $634,584, which equates to an 9.33% CAP rate.

Exclusively Listed By

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