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Building 7 16610 W 159th St 8,000 SF 75% Leased Office Building Lockport, IL 60441 $700,000 ($87.50/SF) 8% Cap Rate

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Executive Summary

Great investment potential! A one-story, all-brick office building with a full basement, featuring nine-foot ceilings and located on a high-traffic stretch off 159th. Generous parking available around the units. In a community of multi-use buildings and neighboring a new residential rental development. The property includes a vestibule entry into a lobby with adjacent reception area as well as side entry. 6 office areas, a wet bar and bathroom on the main. Elevator or staircase to finished basement with a large conference room, an eat-in kitchen, a bathroom, numerous closets and storage areas. It boasts high-efficiency central air conditioning and 80% efficient gas forced air. Conveniently walkable to Jewel, Walmart, Walgreens, and various dining options. A short drive to I-355, Currently rented through 11/2026 at $6,000 mo. (8% CAP rate).

Property Facts

Sale Type

Investment

Property Type

Office

Building Size

8,000 SF

Building Class

Year Built

2006

Price

$700,000

Price Per SF

$87.50

Cap Rate

NOI

$56,000

Percent Leased

75%

Tenancy

Multiple

Building Height

1 Story

Typical Floor Size

8,000 SF

Building FAR

0.63

Lot Size

0.29 AC

Parking

32 Spaces (4 Spaces per 1,000 SF Leased)

Signage

Major Tenants

Lab Development Llc
Professional, Scientific, and Technical Services
-
-
-

Finance and Insurance
-
-
-

State Farm began in 1922 when George J. Mecherle created auto insurance for farmers in Illinois. The company expanded into homeowners and life insurance while maintaining its mutual ownership structure. Today State Farm offers various insurance products and financial services like banking and investments. They've become a significant presence in the US insurance market through their large network of agents.

Tenant	Industry	SF Occupied	Rent/SF	Lease End
Lab Development Llc	Professional, Scientific, and Technical Services	-	-	-
	Finance and Insurance	-	-	-

Space Availability

Space
Size
Space Use
Condition
Available

1st Fl-Ste 102
2,025 SF
Office
Partial Build-Out
Now

16610 W 159th St, Lockport, IL for sale Building Photo- Image 1 of 1 — Building Photo

This unit provides excellent exposure being at the NW corner of the first building in this complex. It has a big open office area with 2 handicapped-accessible bathrooms. It also has plenty of storage space in the basement. (Broker partially owned)