US Bank - Mount Prospect, IL
940 East Rand Road, Mount Prospect, IL, 60056, US
$3,295,000 | 2,695 sf
Description
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the fee simple interest in the Staples at 1600 N Milwaukee Avenue in Vernon Hills, Illinois (“Property” or “Asset”). Staples is operating on a NN lease with ±3.6 years of primary lease term remaining, one, five-year option with a 10% rent increase, and a significant mark-to-market opportunity with rents 47% below market.
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Attributes
Asking price
$3,830,000
Cap rate
7%
NOI
$269,000
WAULT
3.6 years
Building area net
19,150 sf
Land area gross
1.93 acres
Media
Investment highlights
- Significant mark-to-market opportunity with ±3.6 years of lease term remaining and rents 47% below market
- Vernon Hills ranks among the best places to live in Illinois
- Incredible demand characteristics driven by 1-mile AHHI of $193K and 16% population growth since 2010
- Staples maintains a significant market share in the U.S. office and school supply sector
- Irreplicable real estate just north of dense shopping corridor that generates 18.5 million visits annually
- $350 billion in discretionary income from a sophisticated Vernon Hills consumer base
- Along major transportation network IL-21 with accessibility to 23,000 VPD
Contact brokers
Staples - Vernon Hills, IL (0 Properties)
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Last updated
Nov 17, 2025
