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4027 S Wells St Chicago, IL 60609

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NNN leased United Rentals property with billboard income in Chicago.

Type:Retail
Property size:
12,000 SF
Added:
Feb 10, 2024
Days on Market:
787
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

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Listing Contact
Max Finn
Max Finn

Listing agent Max Finn License #UT 12066979-SA00

Listing office SRS Real Estate Partners Salt Lake City

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


Overview

Chicago United Rentals Investment Property

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

Suggested Use

Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

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

Location Insight

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  • Local Demand
City
Chicago
County
Cook
State
Illinois
Longitude
-87.6321666
Latitude
41.821432

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.
(570) 762-6075 Call to check price and availability
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