4027 Wells St Chicago, IL 60609
- Retail properties
- 12,000 SF
- 2.48 lot acres
Current Use by Public Records
- Expert Home Appliance Repair / Small Appliance Repair Service / Appliance Repair Service
Property Details for 4027 Wells St
- Year built
- 1960
- Lot size
- 2.48 lot acres
- Property size
- 12,000 SF
- Property type
- Retail properties
- Property subtype
- Land
Description
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.
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
- Chicago
- County
- Cook
- State
- Illinois
- Longitude
- -87.6323
- Latitude
- 41.821
