1000 ESSINGTON RD Joliet IL 60435-2841

1000 Essington Rd, Joliet is a 100% occupied, high NOI multi-tenant investment opportunity located in the city of Joliet, Illinois which is 35 miles southwest of Chicago. 1000 Essington Rd is a +/- 15,861 square foot one-story office property with a basement, sitting on +/- 1.96 acres of land and constructed in 2003. The building is divided into two major units occupied by two tenants: Lincolnshire Business Center (unit 1000 - 12,386 SF) and Merchants and Manufacturers Bank (unit 990 - 3,475 SF). The sale also includes a 3-car garage, which is approximately 1,200 SF, currently occupied by the owner but will be rented out at the proposed rate of $400 a month.

The property presents a perfect sale lease-back opportunity when the current seller, who owns Lincolnshire Business Center, will remain a tenant on a 5-year initial lease, paying $18.14 PSF gross rent plus utilities. The property can be suitable for an owner-user who would occupy unit 1000, vacated by the current tenants, and continue collecting income from unit 990.

Lincolnshire Business Center operates under a shared suites agreement by which 35 individual suites are leased to separate individuals (sub-tenants) such as counselors, architects, insurance agents, financial advisors, therapists, and others. All sub-tenants start at a 1-year initial lease after which the rent goes on a month-to-month basis. Monthly rents range from $550 to $1,400 depending on the size of each unit and if it has a window or not. See the sub-tenants’ roster on page 11. Unit 1000 has 2 conference rooms, 4 bathrooms, a kitchenette, a mail room, and a beautiful lobby/reception with skylights. Lincolnshire Business Center business can be sold separately.

Merchants and Manufacturers Bank with an ATM machine inside of the building has been leasing the remaining 3,475 SF since the building was constructed in 2003 and has recently exercised a 5-year renewal until 05/31/2027. The bank is currently paying $6,610 monthly gross rent plus utilities. The property has great visibility and high traffic counts with over 20,000 vehicles passing per day. 1000 Essington Rd is surrounded by several of Joliet’s highest-profile office and luxury residential developments, banks, medical facilities, restaurants, and shops. The Property presents an opportunity to acquire a solid income-producing building in a coveted sub-market.

• 100% occupied Class B office building

• Sale lease-back investment or owner-user opportunity

• High net operating income

• Stable, reliable tenants

• Recently updated & well-maintained

• Ample parking on the front and rear

• Great visibility & high traffic counts

• Easy access to I-55 and I-80