10-Year Absolute Net Leased Investment 180 Shepard Ave 20,000 SF 100% Leased Industrial Building Wheeling, IL 60090 £1,650,998 (£82.55/SF) 8.01% Net Initial Yield
INVESTMENT HIGHLIGHTS
- 180 Shepard Avenue is a 20,000-square-foot industrial facility within an advantageous commercial corridor in the Chicago MSA.
- Strategic Accessibility: Situated near Chicago Executive Airport and O’Hare International Airport, with easy access to Interstates 294, 94, and 90.
- 1031 Exchange potential with an ideal lease structure in place for an exchange buyer.
- Investors will benefit from 100% occupancy by an established tenant with a 10-year absolute net lease deal with 3% annual rent increases.
- Superior location in Wheeling, an area that continues to boast low vacancy rates, high absorption, and a limited warehouse space inventory.
EXECUTIVE SUMMARY
Strategically situated in the Chicago MSA, Wheeling is an advantageous North Cook County location benefitting from excellent infrastructure, proximity to major area highways, and a business-friendly environment. 180 Shepard Avenue offers easy access to Interstates 294, 94, and 90, ensuring efficient connectivity for all transit needs. Both Chicago Executive Airport and Chicago O'Hare International Airport are within a 25-minute drive, providing convenient travel options and streamlined freight distribution.
Bordering Lake Michigan and comprising many of Chicago's most affluent ZIP codes, Northern Cook County consists of a cluster of densely packed communities with tree-lined streets and top-ranked school districts. Manufacturers and logistics companies are drawn to North Cook County in part due to its accessibility to both Interstates 294 and 94, which trifurcate the submarket. Businesses are mostly lured to this area by the population density and proximity to some of the most successful retail outlets in the Chicago area, as well as the supplemental out lots and power centers surrounding them.
Broker of Record
Matthew M. Fitzgerald
License No. 478027547 (IL)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
1600 West End,
Ste. 1500 Nashville, TN 37203
PROPERTY FACTS
| Price | £1,650,998 |
| Price Per SF | £82.55 |
| Sale Type | Investment NNN |
| Net Initial Yield | 8.01% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.30 AC |
| Rentable Building Area | 20,000 SF |
| Number of Floors | 1 |
| Year Built | 1980 |
| Clear Ceiling Height | 14 ft 6 in |
| Level Access Doors | 5 |
ABOUT NORTH COOK
Bordering Lake Michigan and comprising many of Chicago’s most affluent zip codes, Northern Cook County consists of a cluster of densely packed communities with tree-lined streets and top-ranked school districts. Northern Cook County is also home to Northwestern University and its nationally ranked research facilities.
Manufacturers and logistics companies are drawn to North Cook County’s accessibility to the third-largest metropolitan area in the nation and the network of interstates that converge in this region. The area’s highly educated workforce and network of existing employers appeal to office and industrial users. Quite surprising for Chicago’s affluent North Shore, there are quite a few pockets of industrial tenants that long ago secured manufacturing, warehouse, and distribution space in such a residential enclave.
Yet many are here. Automotive manufacturer Tenneco (1.1 million square feet) makes Skokie its international headquarters, while medical manufacturer and distributor Medline Industries (657,000 square feet) establishes its operations out Northbrook. Morton Grove hosts Washington, D.C.-based global water technology provider Xylem (530,000 square feet) and locally built, engineering-solutions provider John Crane (500,000 square feet). In all, almost 30 companies occupy over 200,000 square feet of office, industrial, and flex space the Near North suburbs of Chicago.
DEMOGRAPHICS
REGIONAL ACCESSIBILITY
PROPERTY TAXES
| Parcel Number | 03-11-305-008-0000 | Improvements Assessment | £126,682 |
| Land Assessment | £60,402 | Total Assessment | £187,084 |
ZONING
| Zoning Code | I-3 |
SALE ADVISOR
SALE ADVISOR
Matthew Ladd, Associate Broker
Prior to joining Matthews™, Matt spent time as a commercial broker for both Marcus & Millichap and Miller Chicago Real Estate. In addition to his time in the office, Matthew also works for the Chicago Fire Department as a firefighter and EMT.
License No. 478027547 (IL)
