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PropertyRADAR

South Suburb Professional Office Building

4701 - 4723 W Midlothian Turnpike Crestwood IL 60445

$2,450,000

Pricing/Terms Explained 

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$102 / Sq. Ft.

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Property Summary


Type

Office

In Place NOI
$284,000

Target CAP Rate
11.61%

Today's Market Value
$3,500,000

Target Purchase Price
$6,500,000



 




Units
40

Projected NOI
$318,000

Market CAP Rate
8%

Value w/Market Rents
$3,950,000

Cost Per Sq. Ft.
$102



 

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40
Units

150
Spaces

24,000
Sq. Ft.

1986
Yr. Built

100%
Occupancy

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Ownership Summary
EJ Investment Group Inc. has vastly improved this property over the last 6 months. New windows, new hvac units, remodeled management office, and updates to vacant suites allowed us to achieve 100% occupancy shortly after acquisition. 

About The Property
4 excellent turnkey office buildings in Crestwood, IL. Suites are between 500-700 SF and can be combined, making them perfect for small businesses. Diverse tenant base and high occupancy even through the pandemic - these are easy to lease out. 6% annual rent increases built into nearly all leases. 

About The Neighborhood
Crestwood is located in the southern suburbs of Chicago. It has a very active business corridor off of Cicero, Cal Sag and Midlothian Turnpike. Located near the I-294 (Central Tri-State Tollway) allows for quick access to both I-57 and I-80 Interstates.

Due Diligence

Documents
Citipoint conducts a thorough document review on every property. For access to more documents such as leases, inspection reports, warranties, etc please fill out our Document Request Form.

Rents, expirations, security deposits, balances and more.

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Utility expense, services, insurance, taxes, and more.

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Who pays what - Landlord Vs. Tenant

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Comparable multi family properties that have sold in the area.

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Comparable multi family units that have been rented in the area.

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Market report showing trends and insights.

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Locked.

Property
Financials

Purchase Price of Property


Property Current
This column shows the current financial state of the subject property. These inputs are factual and they are based on verified information.



Year 2 Pro Forma
This column is based on a stabilized condition of the subject property. These inputs assume proper property performance by using our investment suggestions (proper management, bringing rents up to market rate, vacancy absorption, etc).



Debt Service
This column allows the user to add custom financing scenarios.

Property
Performance

View the return metrics based on various inputs. 

"Annual Net Income", "Monthly Cash Flow", "Cash on Cash Return", "Equity Value", and "Equity Multiple" are based off of the "Year 2 Pro Forma" column inputs. 


 

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