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Melrose Park, IL

5009 West Lake Street

Address:
5009 West Lake Street, Melrose Park, IL 60160
Property Type:
Single Tenant
Price:
$875,000
Cap Rate:
10.85% cap
NOI:
$94,913
Square Feet:
16,347 sqft
Lot Size:
0.94 acres
Price Per Square Foot:
$53.53
Year Built:
1969
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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

  • Long Term Occupancy With 4 Years Remaining on a 10 Year NNN Lease
  • Close Proximity to Major Highways I-290 and I-294
  • High Quality Office Build Out and Approximately 15,000 Square Feet of Fenced in Yard Space
  • Highly Desirable Frontage on West Lake Street
  • Cook County Class B Tax Incentive Through 2027 With the Ability to Apply For Renewal

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 5009 West Lake Street in Melrose Park, Illinois leased to Peerless Fence Group. The subject property consists of approximately 16,347 square feet and is situated on 0.94 acres of land. The asset features a high-quality office build out and approximately 15,000 square feet of fenced in yard space. With 4 years remaining on a 10-year triple net lease, the tenant’s occupancy is secured long-term. The property has highly desirable frontage on West Lake Street and is closely located to interstate highways 290 and 294. Situated within Cook County, the property is eligible for Class-B tax incentives through 2027, which can be renewed upon application.

Founded in 1961, Peerless Fence Group is one of Chicagoland’s largest fence installation companies. Peerless Fence Group is a conglomerate of 12 fencing related companies. In addition to its operations in metro Chicago, Peerless Fence Group has locations near Indianapolis, Indiana, Cincinnati and Columbus, Ohio. The company and its subsidiaries have provided fencing to some of Chicago’s most iconic venues including the Adler Planetarium, Chicago Botanical Gardens, and Brookfield Zoo, and notably the outfield fence at Wrigley Field (peerlessfence.com).

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 8 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: ZAC0370385)