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411 Union St 37,000 SF Industrial Building Geneva, IL 60134 $1,695,000 ($45.81/SF) 8.63% Cap Rate
Executive Summary
Single tenant investment opportunity. 37,000sf industrial building on 2.68 acres. Heavy power. 3 docks and 1 drive-in door. Brand new cinder block storage shed. NFR letter from EPA on file.
The tenant, Olon Industries, manufactures woodworking components for furniture and cabinets, and has been in business for over 40 years. They have been tenants since 2007, and signed a new 3-year lease in September 2024 with two 1-year options. 6% annual rent increases. Tenant has invested heavily in the building infrastructure as it is a critical part of their North American operations. Under the triple net lease structure, the tenant pays for real estate taxes, insurance, and general maintenance; landlord is only responsible for the roof.
The tenant, Olon Industries, manufactures woodworking components for furniture and cabinets, and has been in business for over 40 years. They have been tenants since 2007, and signed a new 3-year lease in September 2024 with two 1-year options. 6% annual rent increases. Tenant has invested heavily in the building infrastructure as it is a critical part of their North American operations. Under the triple net lease structure, the tenant pays for real estate taxes, insurance, and general maintenance; landlord is only responsible for the roof.
Property Facts
Amenities
- Signage
- Air Conditioning
- Smoke Detector
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Property Taxes
| Parcel Numbers | Improvements Assessment | $357,621 | |
| Land Assessment | $205,158 | Total Assessment | $562,779 |
Property Taxes
Parcel Numbers
Land Assessment
$205,158
Improvements Assessment
$357,621
Total Assessment
$562,779
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411 Union St
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