10459 Muskegon AveChicago, IL 60617

Property Details for 10459 Muskegon Ave

Year built

1961

Lot size

6.44 AC

Property size (Sq ft)

900 SF

Property type

Industrial properties

APN

26-07-314-008

APU

2607314008

Description

This exceptional investment opportunity presents a portfolio of two strategically located Chicago-area warehouses totaling 330,773 square feet on 23.95 acres. The properties are situated in Cook County, Illinois, with addresses at 10459 S Muskegon Ave, Chicago, IL 60617 and 7440 Santa Fe Dr, Hodgkins, IL 60525. The portfolio benefits from an absolute triple-net (NNN) master lease with six years remaining, providing exceptional stability and predictable cash flow. The tenant, a highly reputable private label manufacturer with over 110 years of experience in the food industry, produces a diverse range of products, ensuring strong financial backing. The lease includes rent bumps, with annual increases representing the lesser of 1.50% or 1.25 times the CPI. Four, five-year lease options further enhance the long-term value and security of this investment. The portfolio boasts a 7.00% cap rate and a net operating income (NOI) of $1,783,688, with an asking price of $25,481,257 ($77.04 per square foot). The properties are ideally positioned near both O'Hare and Midway International Airports, offering convenient access to major transportation networks, including rail lines and the Port of Chicago, serving customers across the Midwest. This portfolio represents a compelling investment opportunity for discerning buyers seeking a stable, high-yield asset in a prime location. The 100% occupancy rate further solidifies the investment's strength and potential for future growth.

• Alternative Use

  Use

  Valuation

  Residential

  $331,062

  Hospitality

  $303,251

  Educational

  $252,301

  Medical

  $260,978

  Retail

  $392,469

Location Insight

City

Chicago

County

Cook

State

Illinois

Latitude

41.7052

Longitude

-87.5522

CBSA code

16980

CBSA name

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

Property Tax & Assessments

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