8140 Cass Ave Darien, IL 60561-5013

Property Details for 8140 Cass Ave

Year built

1998

Lot size

0.68 lot acres

Property size

6,408 SF

Zone code

C

Property type

Office Properties & Spaces

APN

09-33-213-017

APU

933213017

Description

This exceptional investment opportunity presents a 6,412 square foot medical office building located at 8140 South Cass Avenue in Darien, Illinois. The property is currently 100% occupied by Sandstone Care, a reputable healthcare provider with a strong track record. Sandstone Care is backed by Vistria Group, a significant private equity firm managing over $11.5 billion in assets. The current lease, a triple-net (NNN) agreement, commenced November 1, 2023, and has a remaining term of approximately 5.9 years, extending to October 31, 2030, with two five-year renewal options. The lease includes annual rent bumps of 2%. The asking price is $1,804,859, representing a compelling cap rate of 6.75% and a price per square foot of $281.48. The property boasts a strong location, situated in a high-income area with an average household income exceeding $157,000 and a population of over 203,000 within a five-mile radius. Built in 1998, the 0.68-acre lot provides ample space. This investment benefits from the significant growth projected in the substance abuse treatment market, offering a secure and potentially high-return opportunity. The property's proximity to Interstate 55 and Chicago O'Hare International Airport further enhances its appeal. The tenant's corporate guarantee provides additional security. This is a rare opportunity to acquire a stable, high-performing medical office building in a prime location with a strong tenant and favorable lease terms.

Location Insight

City

Darien

County

Dupage

State

Illinois

Longitude

-87.9747

Latitude

41.7396

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments