Industrial Baking Facility
Strong industrial tenant and attractive cap rate in Chicago.
Marketing description
Kind Commercial is pleased to exclusively market for sale an industrial single tenant net leased
property located in a rare and prime area of Chicago. 2711 W George St is strategically placed for optimal
logistics and efficient deliveries. The offering presents an unparalleled opportunity to buy an industrial property with over
20 years of operating history in Chicago proper.
Just under 5 miles from the center of Chicago, the site has been in continuous use as an industrial bakery since being built
out for Corner Bakery in 1998-99. The 23,442 SF building has a NNN lease structure. In the current term, there are 12%
escalations every 5 years.
The property offers a high-cube area with a 40’ ceiling height, totaling 140,000 cubic ft and is currently being used as a
freezer. The freezer also features 238 pallet positions and 22’ racking height. The exterior lot is large with 20 parking
spots and plenty of space for staging or storage.
Investment highlights
PRICE : $5,969,227.20
CAP RATE: 7.5%
ANNUAL BASE RENT: $447,692.04
BUILDING SIZE : 23,442 SF
BASE TERM: 10 years
RENEWAL OPTIONS: One 5-year
RENTAL ESCALATIONS: 12% every 5 years
EST 2022 REAL ESTATE TAX: $78,000.00
LEASE EXPIRATION DATE: 3/14/34
HIGH CUBE: 40’ ceiling height, 140,000 cubic ft freezer
DOCKS: 2 exterior docks, 1 grade-level door
YEAR BUILT: 1950
PARKING: 20 spaces
LAND SIZE: 1.16 acres
ZONING: M1-1
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
