Chicago United Rentals Investment
4027 S Wells St, Chicago, IL 60609
Call to check price and availability
NNN leased United Rentals property with billboard income in Chicago.
Type:Retail
Property size:
12,000 SFPrice / SF:
$352/SF- Added:
- Feb 10, 2024
- Days on Market:
- 833
- Last Refresh:
- Mar 17 at 1:25 pm
Property Features for 4027 S Wells St
General Information
- Standard status
- Active
- Size
- 12,000 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1960
Listing agent Max Finn License #UT 12066979-SA00
Listing office SRS Real Estate Partners Salt Lake City (570) 762-6075
Listing date Feb 10, 2024
Source Crexi
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Salt Lake City
HighLights
- Absolute Net (NN) Lease: Minimal landlord responsibilities.
- Strong Tenant: Leased to United Rentals, Inc., the world's largest equipment rental company.
- Rental Increases: Features 2.5% annual rental increases throughout the initial term and option periods.
- Billboard Income: Benefit from an additional $28,300 annual income from billboard lease with 3% annual increases, extended to 2029.
- High Traffic Location: Located near Interstate 90 & 94 (318,000 VPD) and Guaranteed Rate Field.
- Dense Trade Area: Supported by 790,000 residents and 778,000 employees with an average household income of $97,353 within a 5‑mile radius.
Overview
This investment property in Chicago, Illinois, is an absolute NNN leased United Rentals. The tenant, United Rentals Realty, LLC, has 2.5 years remaining on the initial lease, with 3 (5-year) options to extend. The lease features 2.5% annual rental increases throughout the initial term and option periods. A billboard lease adds an additional $28,300 to the NOI, extended to 2029 with 3% annual increases. United Rentals, Inc. has an integrated network of 1,465 rental locations in North America, 14 in Europe, 27 in Australia and 19 in New Zealand. In North America, the company operates in 49 states and every Canadian province. The United Rentals is located along S. Wells St and S. Wentworth Ave. with a combined (7,500 VPD). The site benefits from nearby direct on/off ramp access to Interstate 90 & 94, averaging over 318,000 vehicles passing by daily. The asset is located in a dense retail corridor, with numerous national/credit tenants including Target, Walgreens, Starbucks, Davita, Fresenius, Wendy’s, Dunkin’, Home Depot. The subject property is in close proximity to Guaranteed Rate Field, a 40,600 seat Major League Baseball stadium. The 5-mile trade area is supported by more than 790,000 residents and 778,000 employees with an average household income of $97,353. The property size is 12,000 square feet.
Location Intelligence
Current Use by Public Records
Expert Home Appliance ...
Home Appliance Store
Location Insight
- Map
- Local Demand
- City
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6321666
- Latitude
- 41.821432
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - NNN leased United Rentals property with billboard income in Chicago.
Where is this retail space located?
The property is located at 4027 S Wells St Chicago, IL.
What is the asking price?
The asking price for this property is $4,233,000.
What are key features of this property?
This property features: Absolute Net (NN) Lease: Minimal landlord responsibilities.; Strong Tenant: Leased to United Rentals, Inc., the world's largest equipment rental company.; Rental Increases: Features 2.5% annual rental increases throughout the initial term and option periods.
