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Bensenville, IL

Graphic Engravers Inc

Address:
691 Country Club Drive, Bensenville, IL 60106
Property Type:
Single Tenant
Price:
$925,000
Cap Rate:
8.04% cap
NOI:
$74,400
Square Feet:
11,500 sqft
Lot Size:
0.6 acres
Price Per Square Foot:
$80.43
Year Built:
1979
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Investment Highlights

Investment Highlights

Investment Highlights

• 11,500 Square-Foot Industrial Warehouse Situated on 0.6 Acres
• New Two Year Lease with Graphic Engravers, Over 60 Years Hands-On Experience in Prepress Consultation and Plate Manufacturing
• Triple-Net Lease, Minimizing Landlord Responsibility and Expenses
• Tough Barrier to Entry Market: 6.4% Overall Vacancy and 7.3% Annual Rent Growth (CoStar)
• Ability to Separate Into Two Different Units with 20 Total Parking Spaces
• Strategically Located Industrial Warehouse with Proximate Access to Major Freeways and O’Hare International Airport

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 691 Country Club Drive in Bensenville, Illinois. The subject property consists of approximately 11,500 square feet of warehouse space and is situated on 0.6 acres of land. The asset features a single tenant space that can be divisible into two separate units with 20 total parking spaces. The property is occupied by Graphic Engravers, a company with 60 years of hands-on experience in prepress consultation and plate manufacturing. The tenant recently signed a two-year triple net lease, minimizing landlord responsibility and expenses. Situated just west of O’Hare International Airport, the property is strategically located within the O’Hare submarket with proximate access to major freeways including Interstate 90.

The O’Hare International Airport is one of the busiest airports in the world for cargo traffic, making the O’Hare Submarket is consistently one of the most sought-after industrial submarkets in the Chicago area. The onset of the pandemic has increased O’Hare’s freight traffic, with total tonnage up 45 percent so far in 2021 compared to last year. This increase in activity has helped boost demand in the O’Hare submarket. Net absorption totaled over 2.2 million square feet in the last 12 months, 546 percent higher than the 5-year average 344,500 square feet. Strong demand for industrial space has been met by an increase in supply, as approximately 2.2 million square feet was delivered over the past year. As a result, vacancy rates have held steady at 6.4 percent, with market rents surging 7.3 percent annually (CoStar). Vacancy rates, rent growth, and net absorption have combined to make the O’Hare submarket a tough barrier to entry, benefiting industrial owners.

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: ZAC0370384)