South Suburb Professional Office Building
4701 - 4723 W Midlothian Turnpike Crestwood IL 60445
$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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Who pays what - Landlord Vs. Tenant
Comparable multi family properties that have sold in the area.
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Market report showing trends and insights.
Property
Financials
Purchase Price of Property
Property Current
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Year 2 Pro Forma
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Property
Performance
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"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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