4027 Wells St Chicago, IL 60609
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United Rentals NNN Lease; High NOI
Property size:
12,000 SFProperty 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
Listing Agency: SRS Real Estate Partners Salt Lake City Listing Agent: Jack Cornell
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
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
- -87.6323438
- 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.