PropertyRADAR
South Suburb Professional Office Building
4701 - 4723 W Midlothian Turnpike Crestwood IL 60445
Out of gallery
$2,450,000
Pricing/Terms Explained
$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
40
Units
150
Spaces
24,000
Sq. Ft.
1986
Yr. Built
100%
Occupancy
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
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Comparable multi family properties that have sold in the area.
Comparable multi family units that have been rented in the area.
Market report showing trends and insights.
Locked.
Property
Financials
Purchase Price of Property
Property Current
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Year 2 Pro Forma
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Debt Service
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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.
