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Crete, IL

M&M Home Remodeling Services

Address:
3488 Eagle Nest Drive, Crete, IL 60417
Property Type:
Single Tenant
Price:
$1,725,000
Cap Rate:
7.57% cap
NOI:
$130,532
Square Feet:
14,800 sqft
Lot Size:
2.43 acres
Price Per Square Foot:
$116.55
Year Built:
2006
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Investment Highlights

Investment Highlights

Investment Highlights

  • Corporate Headquarters Location for M&M Home Remodeling Services – In Business Since 1976
  • High Barrier-to-Entry Submarket – 0% Vacancy (Costar)
  • Submarket Rent Up Nearly 8 Percent Year-Over-Year
  • Large Lot has Ample Space for Truck Access and Parking
  • New, Hands-Off, Five-Year Sale-Leaseback
  • Directly Off Major Intersection of Calumet Expressway and Steger Road Major Intersection

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire the property located at 3488 Eagle Nest Drive in Crete, Illinois and occupied by the owner – M&M Home Remodeling Services. The subject property consists of approximately 14,800 square feet of space and is situated on 2.43 acres of land. The asset features three drive-in doors, a clear height of 16’, and a paved lot large enough to accommodate truck access and 60 parking spaces. Situated near the intersection of Calumet Expressway and Steger Road, the property is located within Central Will, a high barrier-to-entry industrial submarket with a vacancy rate of 0.1 percent and annual rent growth of 8.1 percent as of Q1 2022.

Upon sale of the property, M&M Home Remodeling Services will execute a five-year, triple-net, sale-leaseback. The subject property serves as the corporate headquarters for M&M, a home improvement company that has been in business since 1976. The company provides repair and installation services for roofing, doors, siding, gutters, and high-performance windows. M&M’s focus on customer service has resulted in multiple industry awards and a high accreditation.

Known as the Greater Chicagoland area, Chicago-Naperville-Elgin is the third-largest metro in the nation. The metro houses 9.5 million people, including 2.7 million residents within the city of Chicago. The number of corporate headquarters in Chicago is second only to New York City and is home to 33 Fortune 500 companies. Thanks to eight commercial and passenger rail lines, the Port of Chicago, three international airports, and a vast network of freeways, Chicago is a major distribution and logistics hub. The local economy and workforce are highly diverse, supported largely by distribution, finance, manufacturing, and high-tech industries. As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago boasts 100 neighborhoods, 77 community areas, 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: 630-570-2200
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. © 2022 Marcus & Millichap. All rights reserved. (Activity ID: ZAD0060311)