ABC Illinois- Elk Grove Village

2454-2458 Elmhurst Rd, Elk Grove Village, IL, 60007-6311, US

ABC Illinois- Elk Grove Village_Property for Sale

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ABC Illinois- Elk Grove Village 2_Property for Sale

Asset Description

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee simple interest in the newly-expanded Associated Builders & Contractors (ABC) facility at 2454-58 Elmhurst Rd, Elk Grove Village, IL (the “Property” or “Asset”)- adjacent to O’Hare International Airport. This 16,473 square foot flex industrial site on 1.30 acres has been renovated and expanded with significant tenant investment to accommodate the Associated Builders & Contractors (“Tenant”) consolidation plans.

Associated Builders & Contractors recently executed a new NNN lease with an initial term of 10 years and annual rental increases. ABC is a nationally recognized trade association with over 22,000 members throughout 69 chapters. ABC has been operating at the premise sine 2017 and recently expanded the space. The Property offers a rare opportunity to acquire a long-term cash flow in the heart of one of the most prominent industrial corridors.

BROKER OF RECORD: ALEX SHARRIN LICENSE #: IL - 475170243

Attributes

Asking Price

THB 78,547,000

Building area Net

1,530 m²

Occupancy

100.00%

Year built

1982

Investment Highlights

EXCEPTIONAL LOCATION IN A PREMIERE INDUSTRIAL MARKET

Situated on Elmhurst Road directly adjacent to O’Hare International Airport, one of the world’s busiest airports.
The O’Hare industrial submarket is the second largest in the nation and has reached historically low vacancy rates of 1.9%.

NATIONALLY ESTABLISHED TENANT IN AN INDUSTRY WITH PRESSING DEMAND

Associated Builders & Contractors is a nationally recognized non-for-profit construction industry trade association with 69 chapters and more than 22,000 members throughout the country.
The construction industry is experiencing an extreme labor shortage. More than 650,000 workers are needed in order to meet current demand.

RECENTLY EXECUTED 10-YEAR LEASE WITH ATTRACTIVE TERMS

The Illinois chapter of ABC has been a partial occupant of the Asset since 2017 and recently executed a new 10-year lease and is now expanding their presence to be the sole occupant of the Property.
The NNN lease requires minimal landlord maintenance and includes a 5-year renewal option as well as annual 2.50% rent increases, providing a strong hedge against inflation.