2323 Fargo BlvdGeneva, IL 60134

Property Details for 2323 Fargo Blvd

Year built

1996

Lot size

1.37 AC

Property size (Sq ft)

10,320 SF

Property type

Commercial real estate

APN

12-09-151-006

APU

1209151006

Description

This exceptional investment opportunity presents a 10,452 square foot medical office building in Geneva, Illinois, currently 100% occupied by Caravel Autism Health under a net lease. The property sits on a 1.37-acre lot and boasts a strong 7.68% cap rate with a current NOI of $199,651. The lease, commencing June 30, 2021, has approximately 1.5 years remaining with three 3-year renewal options, featuring annual rent increases of 2% during the primary term and 2.5% during renewal periods. Caravel Autism Health, a well-established company with over 50 locations, provides essential healthcare services, making this a recession-resistant investment. The property benefits from a prime location at the signalized intersection of Fargo Boulevard and Randall Road (IL Route 34), experiencing high daily traffic counts exceeding 52,600 vehicles. The surrounding area is densely populated, with strong demographics including high average household incomes within a 3-mile and 5-mile radius, and a significant number of employees nearby. The building, constructed in 1996, is a single-story structure. Landlord responsibilities are minimal, limited to roof, structure, and parking lot maintenance (roof replaced and parking lot updated in 2022). The property's location in Kane County offers lower tax exposure compared to neighboring Cook County. The property's proximity to major retailers, Northwestern Medicine Delnor Hospital, and key roadways further enhances its value and appeal. This is a fee-simple ownership opportunity with significant upside potential.

Location Insight

City

Geneva

County

Kane

State

Illinois

Latitude

41.8768

Longitude

-88.3397

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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