422 N Northwest Hwy - Office FOR SALE


Park Ridge, IL 60068
$2,595,000 USD
847-727-0722
422 N Northwest Hwy, Park Ridge, IL for Sale
$2,595,000 USD
Office - FOR SALE
1/7
null | 7.87% Cap Rate

422 N Northwest Hwy
Park Ridge, IL 60068


HIGHLIGHTS

  • Property is walking distance to Uptown: Metra station, local shopping and dining options
  • Impressive 94% occupancy rate
  • Professional management in place
  • Built in 1967, renovated in 2024

OVERVIEW

Introducing an exceptional investment opportunity in the heart of Chicagoland. Very stable returns over recent history (even through COVID-19). 5-year average cap rate of 8.61%, while the 2023 NOI yields a 9.19% cap. Buy at the floor of the office market and enjoy the rebound with a generational asset under your ownership. Professional management in-place with true armchair investment potential. 94% occupied :: increase value with full lease-up and increasing rental rates as the RTO trend takes off.

FOR SALE DETAILS

PRICE

$2,595,000 USD

PRICE/SF

$109 USD /SF

CAP RATE

7.87%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

B

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

78

LAND DETAILS

LAND ACRES

1.17 AC

LAND SF

50,965 SF

ZONING

O

APN/PARCEL ID

09-26-302-064-0000

ASK ABOUT THIS PROPERTY

Jim ConradMcLennan Commercial Properties, Inc.More Info
847-727-0722

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Jim ConradMcLennan Commercial Properties, Inc.More Info
847-727-0722

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