387 Shuman Blvd - Medical FOR SALE


Naperville, IL 60563
$10,000,000 USD
331-231-2179
387 Shuman Blvd, Naperville, IL for Sale
$10,000,000 USD
Medical - FOR SALE
1/34
null | Request Cap Rate

387 Shuman Blvd
Naperville, IL 60563


HIGHLIGHTS

  • 387 Shuman Boulevard is a fully renovated, Class A office property with a robust medical tenancy in a sought-after healthcare community.
  • Benefit from a sought-after Naperville location, recent capital improvements, and the value-add opportunities with strong in-place cash flow.
  • Prominent positioning along Interstate 88 with prime visibility and easy access, surrounded by a wealth of local amenities.
  • Strategically located in an affluent Naperville neighborhood with low DuPage County taxes and proximity to Downtown Chicago.

OVERVIEW

387 Shuman Boulevard offers the rare opportunity to acquire a 100% fee simple multi-tenant Class A office/medical property in an affluent western suburb of Chicago. This 53% leased asset presents a new investor with a value-add opportunity while benefiting from in-place cashflow and a full renovation over the last few years that modernized its infrastructure. Ownership made significant investments into the property, including the parking lot, lobby, hallways, restrooms, HVAC, electrical, plumbing, and roof. The location is highly visible from Interstate 88, which experiences 135,000 vehicles per day and offers prime signage opportunities for tenants. Naperville has experienced a boom in healthcare jobs and offers continued demand for office/medical space. Currently, half of the tenant base is medical, with the immediate potential to lease up the remaining 51,742 square feet of vacancy, moving the building to a pure medical investment over the mid- to long-term. Situated in DuPage County, the property greatly benefits from commercial property taxes that are generally significantly lower and more predictable than neighboring Cook County’s. Naperville is highly regarded as a premier suburban market and was #1 among the Best Cities to Raise a Family in America and #4 among The Best City to Live in America, according to rankings compiled by Niche.

FOR SALE DETAILS

PRICE

$10,000,000 USD

PRICE/SF

$90 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Value-Add Medical and Office | Chicago MSA

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

A

YEAR BUILT

1982

SPRINKLERS

-

PARKING SPACES

425

LAND DETAILS

LAND ACRES

8.4 AC

LAND SF

365,904 SF

ZONING

ORI

APN/PARCEL ID

07-01-400-029-0000

ASK ABOUT THIS PROPERTY

Jason St JohnGreenstone PartnersMore Info
331-231-2179

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

Jason St JohnGreenstone PartnersMore Info
331-231-2179

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