City Traffic
Citipoint Icon.png

PropertyRADAR

Citi%20Black_edited.png

4701 MIDLOTHIAN TURNPIKE CRESTWOOD IL 60445

Type

Commercial Office

In-Place NOI

$234,100

Target CAP Rate

9.6%

Today's Market Value

$2,855,000

Target Purchase Price 

$2,450,000

Leasable Area

24,000 SF/40 Suites

Projected NOI

$278,000

Market CAP Rate

8.2%

2 Year Pro Forma Value

$2,963,000

Occupancy

97.7%

1/4

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.

Investment Strategy

Purchase with 30% down payment. Allow 6% annual rent increases to kick in and lease out remaining vacancy. After 6 months, initiate cash-out refinance based on market value and increased rental income.

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.

Lock.png

FINANCIALS & CALCULATORS