8140 Cass AveDarien, IL 60561

Property Details for 8140 Cass Ave

Year built

1998

Lot size

0.68 AC

Property size (Sq ft)

6,408 SF

Zone code

C

Property type

Office properties

APN

09-33-213-017

APU

933213017

Description

This exceptional investment opportunity presents a 6,412 square foot medical office building located at 8140 South Cass Avenue in Darien, Illinois. The property is currently 100% occupied by Sandstone Care, a reputable healthcare provider with a strong track record. Sandstone Care is backed by Vistria Group, a significant private equity firm managing over $11.5 billion in assets. The current lease, a triple-net (NNN) agreement, commenced November 1, 2023, and has a remaining term of approximately 5.9 years, extending to October 31, 2030, with two five-year renewal options. The lease includes annual rent bumps of 2%. The asking price is $1,804,859, representing a compelling cap rate of 6.75% and a price per square foot of $281.48. The property boasts a strong location, situated in a high-income area with an average household income exceeding $157,000 and a population of over 203,000 within a five-mile radius. Built in 1998, the 0.68-acre lot provides ample space. This investment benefits from the significant growth projected in the substance abuse treatment market, offering a secure and potentially high-return opportunity. The property's proximity to Interstate 55 and Chicago O'Hare International Airport further enhances its appeal. The tenant's corporate guarantee provides additional security. This is a rare opportunity to acquire a stable, high-performing medical office building in a prime location with a strong tenant and favorable lease terms.

• CAP approach

  CAP return

  Valuation

  6%

  $1,928,914

  6.5%

  $1,780,536

  7%

  $1,653,355

• Comparable approach

  Method

  Valuation

  Relative Method

  $834,642

  Geo Method

  $834,642

• Alternative Use

  Use

  Valuation

  Residential

  $2,207,864

  Hospitality

  $2,022,392

  Educational

  $1,682,606

  Medical

  $1,740,474

  Retail

  $2,617,388

Location Insight

City

Darien

County

Dupage

State

Illinois

Latitude

41.7396

Longitude

-87.9747

CBSA code

16980

CBSA name

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

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].