1110 S. Oakley Boulevard - State of Illinois Tenant 25 YR
GOVT LEASED | 8.50% CAP | 30,000 SqFt
Marketing description
lThe Offering
CBRE, Inc. is exclusively representing the sale of 1110 South Oakley Boulevard (“The Property”), a fully leased government property investment in Chicago’s Tri-Taylor neighborhood. This ±30,000 square foot, three-story building is currently fully leased to the Illinois Department of Corrections for use as its headquarters office. Tenant has occupied the property for over 25 years due to its close proximity to nearby correctional facilities and courts and is anticipated to continue as a reliable tenant well into the future due to limited nearby available office space which can accommodate the Department of Corrections’ use.
This headquarters property is centrally located for all of Chicago’s Sergeants, Lieutenants and Captains for the Illinois Department of Corrections.
The State of Illinois (Department of Corrections) has an A-S&P Global Credit Rating.
LEASE GUARANTEE OPTIONS FOR AN EXTENDED PERIOD OF TIME IS ALSO AVAIBLE, PLEASE CALL BROKER TO DISCUSS. S&Global Credit Rating.
Investment highlights
- Government headquarters building for parolees and parole officers, only 1 of 3 in the State of Illinois
- Tenant requires a standalone building making 1110 South Oakley an ideal headquarters site
- Current rent for tenant is well below market rent of $30.50 PSF in South Chicago Sub-Market
- Tenant is on their 5th lease renewal, proving their commitment to the site and area
- Fully Leased by State of Illinois Government Tenant
- State of Illinois has an A- S&P Global Credit Rating
- Located in Chicago’s Tri-Taylor Neigborhood
- Tenant on Their 5th Lease Renewal with Tenure of Over 25 Years
- Lease Expiration April 31, 2030
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