17550-17546 Chicago Avenue — Sale in Lansing, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Lansing, IL 60438
  • Year built: 1985

Photos

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Investment Figures

Cap rate
10.02%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

For sale is a fully occupied two-building industrial asset situated on 0.38 acres. It features masonry construction with clear heights ranging from 10 to 16 feet and six grade-level doors. The property's design and layout provide an ideal setting for industrial operations. The location of the property is also advantageous, being situated along I-80/I-94 near the border of Illinois and Indiana. This strategic location allows for easy access to major transportation routes. The property's eligibility for the renewable Cook County Class 8 property tax incentive is an added benefit. The incentive can help reduce the property's tax burden. The property's lease structure is attractive, with a partial sale leaseback opportunity with the seller, FineTune Auto. Upon closing, FineTune Auto plans to sign a five-year triple-net lease at $17.17 per square foot on 3,650 square feet, with 3.0 percent annual escalations and two five-year renewal options. Additionally, Five Star Collision recently signed a three-year triple-net lease at $7.27 per square foot on 3,300 square feet, with 3.0 percent annual escalations, providing further stability to the property's income stream. The leases are structured to provide a steady stream of income with opportunities for growth. The property’s pro forma 10.32 percent cap rate is a testament to its potential for strong returns. The landlord's responsibilities are limited to roof and structure, making it an attractive option for investors. Investment Highlights: • Fully Occupied Two-Building 6,950-Square-Foot Industrial Asset Situated on 0.38 Acres • Featuring Masonry Construction, 10'-16' Clear Heights, and Six Grade-Level Doors • Partial Sale Leaseback Opportunity with Fine Tune Auto | Five-Year Triple-Net Lease Offer at $17.17 per Square Foot on 3,650 Square Feet with 3.0 Percent Escalations and Two Five-Year Renewal Options • Newly Signed Three-Year Triple-Net Lease with Five Star Collision at $7.27 per Square Foot on 3,300 Square Feet with

Market Context

This industrial in Lansing, IL is listed for sale. It is offered at an approximate 10.0% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 1985. Compare it against other industrial listings for sale in Lansing, IL — view the full market.

Estimated Price per SF

$36.69/SF – $266.83/SF

Mid: $111.18/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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