Chicagoland Small Bay Portfolio — Sale in La Grange, IL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: La Grange, IL 60525
  • Year built: 2005

Photos

Chicagoland Small Bay Portfolio — Sale in La Grange, IL, photo 1 of 3
Chicagoland Small Bay Portfolio — Sale in La Grange, IL, photo 2 of 3
Chicagoland Small Bay Portfolio — Sale in La Grange, IL, photo 3 of 3

Investment Figures

Cap rate
6.33%

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

Marcus & Millichap is pleased to present the Chicagoland Small Bay Portfolio, a 62,000 square-foot, 100% leased, 18-suite industrial portfolio on 2.87 acres in the western suburbs of Chicago. The portfolio consists of 300 S WashingtonAve (24,000 SF) and 608-624 CossittAve in La Grange (20,000 SF) and 4320 1stAve in Lyons (18,000 SF). Stabilized small bay product of this size and quality rarely trades, and this one comes with very limited tenant turnover. The portfolio sits in one of Chicagoland's best-connected infill corridors. La Grange & Lyons are close to I-55, I-290, and I-294, with LaGrange Road (US-45) and OgdenAvenue (US-34) running through La Grange, with efficient access throughout the metro. Lyons sits along the North I-55 corridor, about five miles from MidwayAirport, or roughly a 9-minute drive, and about 16 miles from O'Hare International, roughly 30 minutes by car. La Grange is a short drive from both airports, with Midway about 12 miles away and O'Hare about 18. Tenants can reach downtown Chicago, both airports, and the western and southwestern suburbs without leaving the expressway network. Demand comes from a deep local base. The area around La Grange has a median household income of roughly $126,000 within three miles and about 100,000 residents. The Lyons property is across the street from a 14Acre industrial/retail development, which brings customertraffic and reinforces demand for service-oriented users. The tenants are automotive, trades, and light industrial operators serving that surrounding population. The buildings are functional and low-maintenance. Clear heights are 16-18', and every tenant has at least one drive-in door. The La Grange roofs are only four years old, and environmental reports are already complete. Tenants are responsible for their own HVAC, and the modified gross leases include tax stops, so the largest operating expense, real estate taxes, is largely contained. Each tenant also owes an additional5% of gross rent as CAM r

Market Context

This industrial in La Grange, IL is listed for sale. It is offered at an approximate 6.3% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 2005. Compare it against other industrial listings for sale in La Grange, 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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Questions to ask the broker

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  • What is the asking price?
  • What is the current zoning, and does it allow my intended use?
  • How many parking spaces come with the property?

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