1400 S Wolf Road,Wheeling, IL 60090
Wheeling, IL 60090
Description
Offered here is an office complex investment opportunity located at 1400 S. Wolf Road, Wheeling, Illinois, in the heart of the Chicago's Northwest suburban market. The property is well accessible from interstate I-294 / Tollway or Route 53 via Palatine Road, and located on a highly visible southwest corner of Wolf & Palatine Roads, and adjacent to the Chicago Executive Airport The complex consisting of two buildings, with a total of 116,226 square feet. Built on slab on grade, the campus consists of two buildings which connect to each other. Building 100, consists of approximately 55,268 rentable square feet, and building 200 consists of a total of 57,866 a rentable square feet. The overall total of rentable space consists of 113,134 square feet. The property's site consists of approximately 352,106 square feet of land, rectangular in shape and level grade, with all utilities available. The site zoned as I-1, Light Industrial and Office District. Once stabilized, this asset presents an opportunity to collect strong current cash flow with a potential for future industrial redevelopment. The complex consists of 22 units, and is currently 70% occupied. In addition, FedEx leases 50 parking spaces under longtime terms till August 2031. Leased office space varies from 1,600 sqft to a high of 23,993 sqft. Vacant space ranges from a low of 138 sqft to a high of 6,915 sqft. As stabilize, total projected monthly income is approximately $136,128 / $1,633,536 yr. Estimated capitalization rate after general expenses is projected at 12.1%. Appeal of suburban low rise office properties affordable a cost-effective option over mid-rise buildings and are ideal for main or satellite locations away from congested urban areas. In addition, the style of building offers 24/7 access, together with tenant-controlled HVAC, and parking adjacent to entrances. Space options allow tenants to either grow or reduce space as needed. Units can be easily expanded by creating a cased wall opening which keeps tenant improvement costs to a minimum.
Details
| MLS # | 12537561 |
|---|---|
| Listing Type | For Sale |
| Style | Office/tech |
| Sub-Type | Resale |
| Status | Active |
| Year | 1983 |
| Days On Site | 236 |
| Listing Provided By | L & B All Star Realty Advisors LLC | Ira Lauter |
Features
| SQ Feet | 116,226 |
|---|---|
| Story(s) | 1 |
| Units | 22 |
| Zoning | INDUS |
| Acreage | 8.08 |
Interior
| Cooling | Central Individual |
|---|
Exterior
| Foundation Details | Concrete Perimeter, Other |
|---|---|
| Construction Materials | Block, Other, Pre-cast, Synthetic Stucco, Glass, Stucco |
Utilities
| Utilities | Electric to Site, Natural Gas Available, Sewer Connected |
|---|---|
| Electric | Circuit Breakers |
Taxes
| Tax Year | 2023 |
|---|---|
| Tax Annual Amount | 496712 |
Area Information
| State | IL |
|---|---|
| County | Cook |
| City | Wheeling |
| Zip Code | 60090 |
| Area | Wheeling |
| Listing VS Median (in 60090) | |
Price: $7,500,000 low | high Med: $315,000 sqft: 116,226 low | high Med: 1,350 $ / sqft: $65 low | high Med: $233 On site: 236 low | high Med: 19 | |
Market Activity 60090
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Learn More About This Property
| State | IL |
|---|---|
| County | Cook |
| City | Wheeling |
| Zip Code | 60090 |
| Area | Wheeling |
| Listing VS Median (in 60090) | |
Price: $7,500,000 low | high Med: $315,000 sqft: 116,226 low | high Med: 1,350 $ / sqft: $65 low | high Med: $233 On site: 236 low | high Med: 19 | |