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    4027 Wells St Chicago, IL 60609

    Sponsored
    For Sale
    $4,239,000

    United Rentals NNN Lease; High NOI

    Property size:
    12,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a fee-simple interest (land and building) in a 12,000 square foot retail property located at 4027 S Wells St, Chicago, IL 60609. The property is currently 100% occupied by United Rentals, Inc., the world's largest equipment rental company, under a triple-net (NNN) lease with 3.1 years remaining and three 5-year options. The lease features attractive 2.5% annual rent increases, ensuring consistent NOI growth and inflation hedging. The current NOI is $286,129, yielding a 6.75% cap rate on the $4,239,000 asking price. Landlord responsibilities are limited to roof, structure, and building systems exceeding $5,000. The 2.48-acre lot, zoned M2-3 (Light Industry District), boasts a prime location in a dense retail corridor near Guaranteed Rate Field and Interstates 90 & 94 (318,000 VPD). The strong demographics of the 5-mile trade area, including over 790,000 residents and 778,000 employees with an average household income of $97,353, further enhance the investment's appeal. The property also benefits from a billboard lease adding to the NOI (until the end of 2024). This is a rare land offering with significant upside potential for a passive investor seeking a secure, high-performing asset. The property was built in 1960 and the APN is 20-04-212-072. The lease commenced on December 8, 2022, and expires December 31, 2027.

    Property Features for 4027 Wells St

    General Information

    Property type
    Retail properties
    Square Feet
    12,000 SF
    Lot Size
    108,029 SF

    Building Details

    Year Built
    1960

    HighLights

    • Rare land offering with fee simple ownership.
    • Three‑year remaining lease term with three, five‑year renewal options; 2.5% annual rent increases.
    • Triple‑net (NNN) lease with United Rentals, the world's largest equipment rental company; landlord responsibilities limited to roof, structure, and building systems exceeding $5,000.
    • Existing billboard lease generating additional income.
    • Excellent location in a dense retail corridor near Guaranteed Rate Field and Interstates 90 & 94 (318,000 VPD), strong demographics (790,000+ residents, 778,000+ employees, $97,353 average household income).
    Property Profile Location Intelligence

    Current Use by Public Records

    Expert Home Appliance ... Small Appliance Repair Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Chicago
    County
    Cook
    State
    Illinois
    Longitude
    -87.6323438
    Latitude
    41.8210346

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    FAQs

    What type of property is this?
    Retail property - United Rentals NNN Lease; High NOI
    Where is this retail property located?
    The property is located at 4027 Wells St Chicago, IL.
    What is the asking price?
    The asking price for this property is $4,239,000.
    What are key features of this property?
    This property features: Rare land offering with fee simple ownership.; Three-year remaining lease term with three, five-year renewal options; 2.5% annual rent increases.; Triple-net (NNN) lease with United Rentals, the world's largest equipment rental company; landlord responsibilities limited to roof, structure, and building systems exceeding $5,000.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4027 Wells St Chicago, IL 60609
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