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Bensenville, IL

500 Frontier Way

Address:
500 Frontier Way, Bensenville, IL 60106
Property Type:
Vacant
Price:
$1,300,000
Square Feet:
19,073 sqft
Lot Size:
0.98 acres
Price Per Square Foot:
$68.16 sqft
Year Built:
1988
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* By downloading the Marketing Package (Offering Memorandum) you hereby agree to the CONFIDENTIALITY AND BUYER REGISTRATION AGREEMENT.

Investment Highlights

Investment Highlights

Investment Highlights

• Highly Desirable Market in Close Proximity to O’Hare International Airport
• Two Interior Docks and One Drive-In-Door with 22 Parking Spaces
• 6.90% Vacancy Rate Creates an Advantageous Investment Opportunity
• Close to Major Highway Interstate 90, 290, & 294
• Low DuPage County Taxes With 3.6% YOY Rent Growth (CoStar)

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 500 Frontier Way in Bensenville, Illinois. The subject property consists of approximately 19,073 square feet of space and is situated on 0.98 acres of land. The asset features two interior docks, one drive-in-door, 22 parking spaces, and 2,260 square feet of office space. Located in a highly desirable market, the subject property is in close proximity to O’Hare International Airport and close to major highway interstates 90, 290, and 294. The 6.9 percent vacancy rate creates an advantageous investment opportunity for an investor. Additionally, DuPage County has low taxes with 3.6 percent year-over-year rent growth (CoStar).

New supply has ramped up in the O’Hare submarket with nearly 1.7 million square feet of space delivered in 2020, the highest annual supply increase in the submarket since 1997. The vast majority of 2020 deliveries have been smaller, but were built speculatively, with over 70 percent of new space seeking a tenant upon delivery. Leasing activity in new deliveries rose considerably in both Q3 2020 and Q4 2020. On the investment side, total industrial sales volume is on pace for its third-highest year on record in 2020 in the O’Hare Submarket, though this is largely due to a transaction-heavy Q1 2020. (Costar)

The city of Chicago covers an area of 60,000 hectares and sits 578 feet above sea level on the southwestern shore of Lake Michigan. At 190 kilometers wide and 495 kilometers long, it is the 5th largest body of fresh water in the world. The city is traversed by the Chicago and Calumet rivers. Chicago’s extensive parklands, including 3,000 hectares of city parks, attract an estimated 86 million visitors annually. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 2,716,450 residents, 50 wards, and eight major league sports teams including two MLB teams. Chicago is a leader in reforming public schools, enhancing public safety and security initiatives, providing affordable housing in attractive and economically sound communities, ensuring accessibility for all, and fostering, social, economic and environmental sustainability. (Chicago.gov)

BROKER OF RECORD
STEVEN WEINSTOCK
Illinois Broker of Record
One Mid America Plaza, Suite 200
Oakbrook Terrace, IL 60181
Tel: 630-570-2250
Steven.Weinstock@marcusmillichap.com
License: IL 471.011175
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, express or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2021 Marcus & Millichap. All rights reserved. (Activity ID: ZAB0060535)