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8317 W North Ave - Lincoln Technical Institute 105,592 SF Specialty Building Offered at $19,480,000 at a 6.85% Cap Rate in Melrose Park, IL 60160
INVESTMENT HIGHLIGHTS
- LONG-TERM TENANCY WITH RECENT EXTENSION: Lincoln Technical Institute has operated at this site for 25+ yrs and recently signed a 10-yr lease extension
- ATTRACTIVE ANNUAL RENTAL INCREASES: Lease includes 3.5% annual increases, exceeding market norms and ensuring steady income growth.
- PUBLICLY TRADED & STRONG MARKET PERFORMANCE
- CORPORATE GUARANTY: Lease backed by Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded and financially sound guarantor.
- EXPANSIVE 9.1-ACRE SITE
- HIGH PROFILE RETAIL CORRIDOR/EXCEPTIONAL VISIBILITY & TRAFFIC COUNTS/NEAR MULTIPLE MANUFACTURING AND DISTRIBUTION FACILITIES
EXECUTIVE SUMMARY
CBRE’s Net Lease Property Group – Midwest is pleased to offer the 100% fee interest in a freestanding Lincoln Technical Institute in Melrose Park, IL. A fixture at this location for nearly 25 years, Lincoln recently committed to a new 10-year lease extension. The lease features a corporate guaranty and healthy 3.50% annual rental escalations.
Strategically positioned on W. North Avenue with 49,000+ VPD, the site boasts prime visibility and access. It’s adjacent to Winston Plaza (5M+ annual visitors) and surrounded by 3M+ SF of industrial space, including Amazon and DHL.
Lincoln Technical Institute is a subsidiary of Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded leader in career-focused education with 22 campuses across 12 states and a market cap of ~$542M.
Strategically positioned on W. North Avenue with 49,000+ VPD, the site boasts prime visibility and access. It’s adjacent to Winston Plaza (5M+ annual visitors) and surrounded by 3M+ SF of industrial space, including Amazon and DHL.
Lincoln Technical Institute is a subsidiary of Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded leader in career-focused education with 22 campuses across 12 states and a market cap of ~$542M.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$1,334,390
|
$12.64
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income | |
|---|---|
| Annual | $1,334,390 |
| Annual Per SF | $12.64 |
PROPERTY FACTS
| Price | $19,480,000 | Building Class | B |
| Price Per SF | $222.63 | Lot Size | 3.73 AC |
| Sale Type | Investment | Building Size | 87,501 SF |
| Cap Rate | 6.85% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1990 |
| Property Subtype | School | Parking Ratio | 5.85/1,000 SF |
| Zoning | “E” Commercial | ||
| Price | $19,480,000 |
| Price Per SF | $222.63 |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| Property Type | Specialty |
| Property Subtype | School |
| Building Class | B |
| Lot Size | 3.73 AC |
| Building Size | 87,501 SF |
| No. Stories | 1 |
| Year Built | 1990 |
| Parking Ratio | 5.85/1,000 SF |
| Zoning | “E” Commercial |
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,224,443 | |
| Land Assessment | $919,333 | Total Assessment | $2,143,776 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$919,333
Improvements Assessment
$1,224,443
Total Assessment
$2,143,776
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8317 W North Ave - Lincoln Technical Institute
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