Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
$1,500,000
ABM Industries (NYSE: ABM) - New 7 Yr Extension
Details
Property Type Office, Industrial
Sub Type Traditional Office, Flex
Square Footage 8,000
Cap Rate 7%
NOI $105,000
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 20
Lease Expiration 10/31/2033
Remaining Term 7
Rent Bumps Yes
Lease Options 1, 5 Year Option
Year Built 1924
Acreage 0.140
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 09/01/2013
Ground Lease No
3% Annual Increases | 7.0% CAP
Marketing description
- Tenant Recently Exercised a Seven-Year Lease Renewal, Showing Commitment to the Site
- Three Percent Annual Rental Increases with One, Five-Year Renewal Option Remaining
- Tenant Has Operated at the Site for Over 13 Years (Since 2013)
- Flex Warehouse/Office Space in the Heart of Downtown Chicago
- ABM (NYSE: ABM) is a Leading Fortune 500 Facility Solutions Provider - the Company Reported Record 2025 Revenue of $8.7 Billion
- Daytime Population of 125,592 People and Average Household Income of $163,000 within a One-Mile Radius
- Easily Accessible Location, in Close Proximity to Interstates 90 and 290, the “L” Chicago Train Line and the Metra Commuter Rail
- Situated Just North of Illinois Medical District and University Village, Home to Rush University, University of Illinois Chicago, and University of Illinois College of Medicine
Investment highlights
ABM (NYSE: ABM) is one of the world’s largest providers of integrated facility, engineering, and infrastructure solutions. ABM’s 100,000+ team members deliver essential services that make spaces cleaner, safer, and more efficient, enhancing the overall occupant experience. ABM’s supports 19 diverse industries, serving six billion square feet of space every day.
Chicago-Naperville-Elgin is one of the largest metros in the nation. The Chicagoland area is bounded to the east by Lake Michigan and expands over a 5,000-square-mile region in northeastern Illinois, extending into Wisconsin and Indiana. The metro houses 9.4 million people and comprises 14 counties.
Steven Weinstock – Marcus & Millichap – Broker of Record – [email protected]
Listing Contacts
Listed by Marcus & Millichap - Columbus, Marcus & Millichap - Phoenix
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$105,000.00
$8,750.00/mo
Valuation Metrics
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DSCR
7%
Cap Rate
7%
ROI
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