230 N Mannheim Rd - Office FOR SALE


Hillside, IL 60162
$3,150,000 USD
312-777-2448
230 N Mannheim Rd, Hillside, IL for Sale
$3,150,000 USD
Office - FOR SALE
1/5
null | 8.51% Cap Rate

230 N Mannheim Rd
Hillside, IL 60162


HIGHLIGHTS

  • U.S. Government Lease with High Renewal Probability and Long-Term Tenant
  • Well-Maintained Property with Commitment from Tenant
  • Access to Major Highways
  • Strong Residual Value

OVERVIEW

Northmarq Commercial is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Social Security Administration (“SSA”) property at 230 N. Mannheim Road in Hillside, Illinois (the “Property”). The Property consists of a 100% leased, single-tenant, one-story 14,889-net-rentable-square-foot institutional quality office building. The building was constructed in 1998 as a build-to-suit for the SSA, and they just renewed for another five-year term at the Property (Commencing November 1, 2024). The Property is situated on an ample 1.38-acre parcel, with 229 feet of frontage along Mannheim Road (U.S. Hwy 45). The tenant for the Property is the General Services Administration of the United States of America (the “GSA”). As a federal agency under the Executive Branch of the Government of the United States, the debts and obligations incurred by the GSA (including this Lease) are backed by the Government of the United States of America. The Government carries an investment-grade credit rating by all major rating agencies including an AA+ rating with a stable outlook from Standard & Poor’s Rating Services.

FOR SALE DETAILS

PRICE

$3,150,000 USD

PRICE/SF

$212 USD /SF

CAP RATE

8.51%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Social Security Administration

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

1.38 AC

LAND SF

60,000 SF

ZONING

M-1, Hillside

APN/PARCEL ID

15-17-201-032-0000

ASK ABOUT THIS PROPERTY

Mark HellwigNorthmarqMore Info
312-777-2448

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Mark HellwigNorthmarqMore Info
312-777-2448

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