480 E Lincoln Hwy, Chicago Heights, IL 60411Show

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480 E Lincoln Hwy, Chicago Heights, IL 60411Show

Chicago Heights, IL | 281,847.00 sq. ft. | Est $ 8,550,956.13/mo

Space Available:	281,847.00 sq. ft.
Type:	Industrial - Warehouse
Est. Rent:	$33.71/SF/Month $404.52/SF/Year

The Doughty Industrial Group of Marcus & Millichap is pleased to present the sale offering of 480 E Lincoln Hwy, a fully occupied multi-tenant industrial investment offering located in Chicago Heights, IL. The property resides in the south Chicagoland suburbs, and less than 5 miles from the border of Indiana. The subject location sits in close proximity to both I-57 and I-294, offering interstate access to both the Chicagoland area as well as the greater Midwest.The subject property is 281,847 square feet of industrial space, sits on 14.88 acres, and was originally constructed in 1965. The property is fully occupied by two tenants, Gerresheimer Glass, Inc., a publicly traded, Germany based glass manufacturing company who has occupied the building since 2001 and expanded their square footage showing long term commitment, and Morgan Li, a custom furniture, fixture, and graphic manufacturer with multiple locations around the world and international clientele. The building offers ample distribution access and functionality with 15 docks, 7 drive-in doors, and a 22’ clear height. Gerresheimer has 4 years of lease term remaining and operates on a modified gross lease structure with expense and tax reimbursement base stops, while Morgan Li has 2.58 years of lease term remaining and operates on a gross lease structure. Both tenants are currently operating at below market rents, providing replaceability of rent and room for significant rent growth. Through either raising rents to a market rate or removing expense and tax base stops from Gerresheimer’s lease upon new lease negotiation, the investment offers a potential pro-forma CAP rate of 10.00%+.The purchase of this offering presents an investor with the opportunity to acquire an industrial asset with stable, credit tenancy and significant potential for rent growth and a high pro-forma yield. At the current list price of $9,500,000, the investment generates an in-place net operating income of $647,925 which equates to a 6.82% CAP Rate.

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Warehouse Property Information

480 E Lincoln Hwy provides tenants 281847 square feet of warehouse space for rent in Chicago Heights, IL.

This property is ideal for businesses seeking quality space for distribution, manufacturing and other warehouse uses.

For more details about 480 E Lincoln Hwy or any other warehouses in Chicago Heights, IL request a complimentary property report.

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