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Crestwood Cove Office Center 4701-4731 W Midlothian Tpke 24,000 SF 95% Leased Office Building Crestwood, IL 60445 $2,600,000 ($108.33/SF) 9.28% Cap Rate
EXECUTIVE SUMMARY
4701-4731 W Midlothian Turnpike presents a rare and compelling opportunity to acquire a high-performing office investment in the heart of Crestwood, Illinois. Never before offered for sale, this off-market gem has quietly outperformed expectations for years—making its debut on the market a truly unique event. The property consists of four single-story office buildings totaling 40 units. The asset is occupied with long-term tenants, no tenant delinquencies, demonstrating both the strength of the rent roll and the reliability of its tenant base. The property generates substantial cash flow, supported by loyal and dedicated tenants spanning a mix of professional services and local businesses. The low turnover rate and consistent occupancy highlight the demand for office space for small businesses in this strategically located corridor. Positioned near major thoroughfares including Cicero Avenue and I-294, the site benefits from excellent accessibility and visibility. With stabilized income, a clean rent ledger, and minimal management intensity, 4701 W Midlothian Turnpike offers investors a turnkey, income-producing asset with strong in-place cash flow and long-term upside. An IL licensed broker is a member of the LLC that owns the property.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$439,656
|
$18.32
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$439,656
|
$18.32
|
| Taxes |
$104,000
|
$4.33
|
| Operating Expenses |
$94,355
|
$3.93
|
| Total Expenses |
$198,355
|
$8.26
|
| Net Operating Income |
$241,301
|
$10.05
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $439,656 |
| Annual Per SF | $18.32 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $439,656 |
| Annual Per SF | $18.32 |
| Taxes | |
|---|---|
| Annual | $104,000 |
| Annual Per SF | $4.33 |
| Operating Expenses | |
|---|---|
| Annual | $94,355 |
| Annual Per SF | $3.93 |
| Total Expenses | |
|---|---|
| Annual | $198,355 |
| Annual Per SF | $8.26 |
| Net Operating Income | |
|---|---|
| Annual | $241,301 |
| Annual Per SF | $10.05 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Building Size
24,000 SF
Building Class
B
Year Built
1987
Price
$2,600,000
Price Per SF
$108.33
Cap Rate
9.28%
NOI
$241,300
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
24,000 SF
Building FAR
0.26
Lot Size
2.13 AC
Zoning
B-2
Parking
108 Spaces (4.5 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $390,981 (2024) | |
| Land Assessment | $173,744 (2024) | Annual Taxes | $104,000 ($4.33/SF) |
| Improvements Assessment | $217,237 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$173,744 (2024)
Improvements Assessment
$217,237 (2024)
Total Assessment
$390,981 (2024)
Annual Taxes
$104,000 ($4.33/SF)
Tax Year
2025
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Crestwood Cove Office Center | 4701-4731 W Midlothian Tpke
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