1S443 Summit Ave | Oakbrook Terrace, IL 60181
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- LoopNet Team
1S443 Summit Ave
Oakbrook Terrace, IL 60181
The Gallery Medical/Professional Building · Office Property For Sale
INVESTMENT HIGHLIGHTS
- Jewel box medical & professional building | 100% Occupied | Expertly maintained
- Trophy location in Oakbrook Terrace, 200 feet from the intersection of Summit and Butterfield, 0.5 miles from Roosevelt Road
- Superlative demographics | +90,000 people within a three-mile radius and average household incomes of $115,000 annually
- The property has demonstrated resilience throughout the COVID-19 pandemic -- All tenants paid full rent throughout the stay at home order
- All tenants have exercised one or more renewal options since taking occupancy | Rent collections are current
- Stable rent roll | Going in cap rate of 9% and cash on cash return of 13.75% in year one
PROPERTY FACTS
Property Type
Office
Property Subtype
Medical
Building Size
28,866 SF
Building Class
B
Year Built/Renovated
1985/2001
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
9,479 SF
Slab To Slab
12’
Building FAR
0.50
Lot Size
1.33 AC
Zoning
B
Parking
99 Spaces (3.43 Spaces per 1,000 SF Leased)
AMENITIES
- Atrium
- Conferencing Facility
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 06-22-108-023 | Improvements Assessment | $880,454 |
| Land Assessment | $332,671 | Total Assessment | $1,213,125 |
PROPERTY TAXES
Parcel Number
06-22-108-023
Land Assessment
$332,671
Improvements Assessment
$880,454
Total Assessment
$1,213,125
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