Listed by Millennium Properties R/E
$3,000,000
Highland Park Medical Office/ Development Site for Sale
Details
APN 16233111009000
Property Type Office
Sub Type Traditional Office, Office/Tech
Square Footage 22,727
Cap Rate 5.13%
NOI $153,954
Occupancy 80%
Tenancy Multi
Price per SqFt $132
Year Built 1986
Stories 2
Lot Size (SqFt) 12,584
Zoning B-5
Office | 5.13% CAP | 22,727 SqFt
Marketing description
Available for sale is a 22,727 square foot two-story medical office building in HIghland Park, IL. The property consists of 18 office suites and has multiple long-term tenants. Situated near the corner of Elm Place and St. Johns Avenue in vibrant downtown area, this property benefits from its location just a block away from the the Metra Train Station and public transportation. Additional parking is available from the easement with the adjacent lot to the south. Area features significant barriers to entry, with few available sites for purchase Highland Park is an affluent suburb located in approximately 25 miles north of Chicago in the North Shore. The city has a vibrant downtown with shopping, restaurants and more.
Investment highlights
Two-story medical office building
- 18 office suites
- Below market rents
- Several long-term medical tenants
In-place income with upside potential
TOD site with access to adjacent parcel
Ample parking
Close proximity to Highland Park Metra Station
Potential for residential redevelopment
Nearby attractions: Walgreen’s, Pottery Barn, Dunkin’, McDonald’s, Walker Brothers Original Pancake House, plus a multitude of high-end restaurants, the aters, gyms, chic boutiques and spas
Land area: 12,584 SF
Zoning: B-5
Taxes (2024): $80,905.84
Listing Contacts
Listed by Millennium Properties R/E
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$153,954.00
$12,829.50/mo
Valuation Metrics
0
DSCR
5.13%
Cap Rate
5.13%
ROI
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