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1 E Merchants Dr 13,385 SF 88% Leased Office Building Oswego, IL 60543 $3,000,000 ($224.13/SF) 8.06% Cap Rate
Executive Summary
Marcus & Millichap is pleased to present this 1.21 acre mixed use investment property located at 1 E Merchants Dr, Oswego, IL. The property features a three story office
building with a basement, 80 parking spaces, and a diversified tenant mix anchored by Fifth Third Bank on the first floor, LifeStance Health on the third floor, and
multiple office tenants occupying the second floor.
The property provides investors with a compelling combination of stable cash flow and institutional credit tenancy. Approximately 58% of the building, representing two
of the three floors, is occupied by credit tenants, including Fifth Third Bank and LifeStance Health. LifeStance Health benefits from a corporate guarantee from a
publicly traded company, providing additional security to the investment.
Fifth Third Bank further strengthens the property's tenant profile, with approximately $100 million in bank deposits associated with the branch. The bank's established
presence provides strong visibility and demonstrates the importance of the location to its operations and the surrounding community.
The property has benefited from approximately $130,000 in capital improvements since 2024, including brand new HVAC units. In 2022, the landlord invested more
than $100,000 into a custom buildout for LifeStance Health, creating a specialized medical office environment tailored specifically to the tenant's operations. The
significant tenant specific investment creates additional retention value, as replicating a comparable space at another location would require substantial time and capital.
Located in Oswego, the property offers convenient access to surrounding residential, commercial, and employment centers. The combination of credit tenancy,
corporate backing, recent capital improvements, substantial investment in tenant specific improvements, and a diversified occupancy profile creates an attractive
opportunity for investors seeking stable income with institutional tenancy.
The property generates a current NOI of $241,916 and is offered at a 8.06% cap rate and $224.97 per SF, providing investors with an attractive basis for a well located
suburban office asset with strong credit tenancy, recent capital investment, and meaningful barriers to tenant relocation.
building with a basement, 80 parking spaces, and a diversified tenant mix anchored by Fifth Third Bank on the first floor, LifeStance Health on the third floor, and
multiple office tenants occupying the second floor.
The property provides investors with a compelling combination of stable cash flow and institutional credit tenancy. Approximately 58% of the building, representing two
of the three floors, is occupied by credit tenants, including Fifth Third Bank and LifeStance Health. LifeStance Health benefits from a corporate guarantee from a
publicly traded company, providing additional security to the investment.
Fifth Third Bank further strengthens the property's tenant profile, with approximately $100 million in bank deposits associated with the branch. The bank's established
presence provides strong visibility and demonstrates the importance of the location to its operations and the surrounding community.
The property has benefited from approximately $130,000 in capital improvements since 2024, including brand new HVAC units. In 2022, the landlord invested more
than $100,000 into a custom buildout for LifeStance Health, creating a specialized medical office environment tailored specifically to the tenant's operations. The
significant tenant specific investment creates additional retention value, as replicating a comparable space at another location would require substantial time and capital.
Located in Oswego, the property offers convenient access to surrounding residential, commercial, and employment centers. The combination of credit tenancy,
corporate backing, recent capital improvements, substantial investment in tenant specific improvements, and a diversified occupancy profile creates an attractive
opportunity for investors seeking stable income with institutional tenancy.
The property generates a current NOI of $241,916 and is offered at a 8.06% cap rate and $224.97 per SF, providing investors with an attractive basis for a well located
suburban office asset with strong credit tenancy, recent capital investment, and meaningful barriers to tenant relocation.
Data Room Click Here to Access
Property Facts
Sale Type
Investment
Property Type
Building Size
13,385 SF
Building Class
B
Year Built/Renovated
1992/2022
Price
$3,000,000
Price Per SF
$224.13
Cap Rate
8.06%
NOI
$241,800
Percent Leased
88%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
4,462 SF
Building FAR
0.25
Lot Size
1.21 AC
Zoning
B1-2 - General Business District
Parking
82 Spaces (6.13 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Conferencing Facility
- Signage
- Storage Space
- Recessed Lighting
- Monument Signage
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
- -
- -
-
Lorem Ipsum
-
Jan 0000
LifeStance Health began in 2017 as a provider of outpatient behavioral health care. The company offers virtual and in-person therapy, psychiatry, psychological testing, medication management, and specialty treatments such as TMS and Spravato for children, adolescents, and adults. LifeStance Health focuses on expanding access to mental healthcare through a national network of clinicians and care locations, with services delivered online and in person across the United States.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | - | - | Lorem Ipsum | Jan 0000 |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Office space with two private offices!
Excellent one room office space available for lease!
| Space | Size | Space Use | Build-Out | Available |
| 2nd Fl-Ste 201 | 900 SF | Office | Full Build-Out | Now |
| 2nd Fl-Ste 208 | 640 SF | Office | Full Build-Out | Now |
2nd Fl-Ste 201
| Size |
| 900 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 208
| Size |
| 640 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
2nd Fl-Ste 201
| Size | 900 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
Office space with two private offices!
2nd Fl-Ste 208
| Size | 640 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
Excellent one room office space available for lease!
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 03-04-276-008 | Improvements Assessment | $417,017 |
| Land Assessment | $85,386 | Total Assessment | $502,403 |
Property Taxes
Parcel Number
03-04-276-008
Land Assessment
$85,386
Improvements Assessment
$417,017
Total Assessment
$502,403
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Contact the Sale Advisor
1 E Merchants Dr