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ORD3 800 E Business Center Dr 81,610 SF Industrial Building Mount Prospect, IL 60056 For Sale 5.50% Cap Rate
Investment Highlights
- Fully leased to DataBank, an investment-grade data center operator, under a triple-net lease.
- Current rent is approximately 46% below market, allowing for future revenue growth.
- Immediate proximity to Interstates 90 and 290, plus convenient access to O’Hare International Airport.
- Lease term extends through January 31, 2031, providing near-term stability and predictable cash flow.
- Surrounded by a concentration of national and global data center operators, reinforcing demand for location.
- Priced below replacement cost, enhancing long-term investment security.
Executive Summary
Located just outside Elk Grove Village at 800 Business Center Dr., Mount Prospect, IL. The single-tenant data center has an investment grade tenant with 4.5 years of term remaining and 2.7 MW critical. With a below market rental rate, we see this asset as having significant upside upon renewal or non-renewal scenarios.
- 46% below market rental rate
- Valued below replacement cost
-4.5-Year NNN lease term remaining; LXP 1/31/2031
-Investment grade tenant: Databank
-Significant upside in renewal and non-renewal scenario
- 46% below market rental rate
- Valued below replacement cost
-4.5-Year NNN lease term remaining; LXP 1/31/2031
-Investment grade tenant: Databank
-Significant upside in renewal and non-renewal scenario
Property Facts
| Sale Type | Investment NNN | Rentable Building Area | 81,610 SF |
| Cap Rate | 5.50% | No. Stories | 1 |
| Sale Condition | 1031 Exchange | Year Built/Renovated | 1986/2020 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Data Center | Parking Ratio | 2.03/1,000 SF |
| Building Class | B | Clear Ceiling Height | 18’ |
| Lot Size | 5.41 AC | No. Drive In / Grade-Level Doors | 4 |
| Sale Type | Investment NNN |
| Cap Rate | 5.50% |
| Sale Condition | 1031 Exchange |
| Property Type | Industrial |
| Property Subtype | Data Center |
| Building Class | B |
| Lot Size | 5.41 AC |
| Rentable Building Area | 81,610 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1986/2020 |
| Tenancy | Single |
| Parking Ratio | 2.03/1,000 SF |
| Clear Ceiling Height | 18’ |
| No. Drive In / Grade-Level Doors | 4 |
Amenities
- 24 Hour Access
- Controlled Access
- Fiber Optic Internet
- On-Site Security Staff
- Raised Floor System
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 03-35-104-041-0000 | Improvements Assessment | $981,070 |
| Land Assessment | $588,930 | Total Assessment | $1,570,000 |
Property Taxes
Parcel Number
03-35-104-041-0000
Land Assessment
$588,930
Improvements Assessment
$981,070
Total Assessment
$1,570,000
Contacts
-
Alex Smith -
Alexander Smith -
Michael Duderstadt
-
Cole Riedel
-
Stephen Sevenich -
Cushman & Wakefield
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ORD3 | 800 E Business Center Dr
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