631 Park Ave Aurora, IL 60506
- Warehouses
- 341,810 SF
- 17.34 lot acres
Current Use by Public Records
- US Specialty Packaging / Packaging Supply Store
Property Details for 631 Park Ave
- Year built
- 1950
- Lot size
- 17.34 lot acres
- Property size
- 341,810 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This fee-simple Aurora, IL industrial complex offers a compelling value-add investment opportunity. The 341,810 square foot property, situated on 17.34 acres, boasts a 96% occupancy rate with seven tenants. Currently generating a 10.91% cap rate and $927,536 NOI, pro forma projections indicate a 15.28% cap rate and $1,299,096 NOI. The property features 18 drive-in and 14 dock-high doors, 13 sprinkler risers, and high ceilings ranging from 18 to 34 feet. An operational crane facility is also present. The brick building is reinforced with metal and concrete masonry, showcasing pride of ownership. Built in 1950, this well-maintained property benefits from a prime Aurora location within Kane County (APN: 15-21-126-009, 15-16-378-006), offering unparalleled connectivity to major transportation arteries. Below-market rents present a significant opportunity to increase profitability. The asking price is $8,500,000 ($24.87/SF). This generational asset, available for the first time in over 30 years, presents a rare chance to acquire a substantial industrial portfolio in a thriving market. The property's strategic location and strong tenant base, anchored by Apex Warehouse Systems, contribute to its exceptional investment potential. Additional value can be created by utilizing the available land for industrial outdoor storage.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Aurora
- County
- Kane
- State
- Illinois
- Longitude
- -88.3317
- Latitude
- 41.7653
