10718 S Roberts Rd - Freestanding FOR SALE


Palos Hills, IL 60465
$3,090,000 USD
859-907-2006
10718 S Roberts Rd, Palos Hills, IL for Sale
$3,090,000 USD
Freestanding - FOR SALE
1/1
null | 8.75% Cap Rate

10718 S Roberts Rd
Palos Hills, IL 60465


HIGHLIGHTS

  • Lease guaranteed with the full faith and credit of the U.S. Government (S&P AA+ credit rating)
  • Build-to-Suit for the GSA/SSA in 2004
  • Remaining Term of 4.35 Years
  • GSA reimburses landlord annual real estate tax rent in addition to the difference between the actual taxes and the tax base
  • Well-maintained masonry building
  • Palos Hills is a southwest suburb of Chicago, Illinois

OVERVIEW

The Ficke Team of Colliers is pleased to present to qualified investors the Social Security Administration (SSA) located at 10718 S Robert Road, Palos Hills, Illinois. This single-tenant property consists of 9,331 rentable square feet developed in 2004 as a build-to-suit for the GSA/SSA that includes 60 parking spaces and sits on 1.14 acres. The GSA Exercised their five (5) years renewal option effective July 27, 2023, expiring June 26, 2028, and firm-term through June 27, 2028. This lease includes a unique real estate tax structure for the GSA to reimburse landlord $51,227.19 for tax rent in addition to the difference between the actual real estate taxes and the tax base of $54,290.81 throughout the lease term, assisting the landlord to defray increases in real estate taxes. This is an excellent opportunity for an investor to acquire a stabilized cash flow with rent guaranteed by the U.S. Government (S&P AA+ credit rating).

FOR SALE DETAILS

PRICE

$3,090,000 USD

PRICE/SF

$331 USD /SF

CAP RATE

8.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Social Security Administration

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2004

SPRINKLERS

-

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.14 AC

LAND SF

49,673 SF

ZONING

B-1, Palos Hills

APN/PARCEL ID

23-14-400-018-0000

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.