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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
-
-
-

The State Farm® mission is to help people manage the risks of everyday life, recover from the unexpected and realize their dreams. Their vision for the future is to be the customer's first and best choice in the products and services they provide. They will continue to be the leader in the insurance industry and they will become a leader in the financial services arena. Their customers' needs will determine their path. Their values will guide them. They are people who make it their business to be like a good neighbor; who built a premier Company by selling and keeping promises through their marketing partnership; who bring diverse talents and experiences to their work of serving the State Farm customer. Their success is built on a foundation of shared values — quality service and relationships, integrity and financial strength. Their company mission is to help people manage the risks of everyday life, recover from the unexpected, and realize their dreams.

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)