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United Rentals - Chicago, IL 4027 S Wells St

12,000 SF Industrial Building Chicago, IL 60609 £3,327,577 (£277/SF) 6.75% Net Initial Yield

Investment Highlights

  • The asset is located in a dense retail corridor, with numerous national/credit tenants
  • The site benefits from nearby direct on/off ramp access to Interstate 90 & 94, a major thoroughfare averaging over 318,000 vehicles passing by daily
  • $97,353 average household income
  • The subject property is in close proximity to Guaranteed Rate Field, a 40,600 seat Major League Baseball stadium
  • More than 790,000 residents and 778,000 employees support the trade area, providing a direct consumer base from which to draw

Executive Summary

SRS National Net Lease Group is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NN leased, United Rentals investment property located in Chicago, Illinois. The tenant, United Rentals Realty, LLC has 3 years remaining on the initial lease with 3 (5-year) options to extend, demonstrating their commitment to the site. The lease features 2.5% annual rental increases throughout the initial term and option periods, steadily growing NOI and hedging against inflation. United Rentals, Inc. is the largest equipment rental company in the world. The asset has a billboard lease that adds an additional $35,000 to the NOI until the end of 2024 with no options to renew. The company has an integrated network of 1,465 rental locations in North America, 14 in Europe, 27 in Australia and 19 in New Zealand. In North America, the company operates in 49 states and every Canadian province.

Attachments

Chicago IL - United Rentals OM

Property Facts

Price £3,327,577 Lot Size 2.48 AC
Price Per SF £277 Rentable Building Area 12,000 SF
Sale Type Investment Number of Floors 1
Net Initial Yield 6.75% Year Built 1960
Property Type Industrial Tenancy Single
Property Subtype
Warehouse
  • General Retail Freestanding
 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class B
Price £3,327,577
Price Per SF £277
Sale Type Investment
Net Initial Yield 6.75%
Property Type Industrial
Property Subtype
Warehouse
  • General Retail Freestanding
Building Class B
Lot Size 2.48 AC
Rentable Building Area 12,000 SF
Number of Floors 1
Year Built 1960
Tenancy Single
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Amenities

  • Fenced Lot
  • Signage
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Transit Score ®
Excellent Transit (70)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 20-04-212-072-0000 Improvements Assessment £90,038
Land Assessment £128,052 Total Assessment £218,089

PROPERTY TAXES

Parcel Number
20-04-212-072-0000
Land Assessment
£128,052
Improvements Assessment
£90,038
Total Assessment
£218,089

zoning

Zoning Code M2-3 (M2-3: Light Industry District)
M2-3 (M2-3: Light Industry District)
(801) 305-3017

  • Listing ID: 30938163

  • Date on Market: 09/02/2024

  • Last Updated:

  • Address: 4027 S Wells St, Chicago, IL 60609

The Industrial Property at 4027 S Wells St, Chicago, IL 60609 is currently available For Sale. Contact SRS Real Estate Partners for more information.

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Max Finn

(801) 305-3017

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Jack Cornell

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