10718 Roberts Rd Palos Hills, IL 60465-2342
- Retail space
- 0.65 lot acres
Current Use by Public Records
- District Office A58 / Social Security Office
- social security administration / Social Security Office / Government Office
Property Details for 10718 Roberts Rd
- Year built
- 2000
- Lot size
- 0.65 lot acres
- Property type
- Retail space
- APN
- 23-14-400-018
- APU
- 2314400018
Description
This exceptional investment opportunity presents a 9,331 square foot executive office building located at 10718 S Roberts Rd, Palos Hills, IL 60465. The property, built in 2004 on a 1.14-acre lot, is currently 100% occupied by the Social Security Administration under a modified lease with a remaining term of approximately 4.7 years, expiring June 25, 2028. The lease commenced June 26, 2003, and includes a recent five-year renewal. The asking price is $3,090,000, representing a compelling cap rate of 8.75% and a price per square foot of $351.30. The property boasts a Net Operating Income (NOI) of $270,412. The tenant, with an S&P AA+ credit rating, provides exceptional financial security. A unique aspect of the lease is a structure where the tenant reimburses the landlord for real estate taxes, mitigating potential tax increases for the owner. The building is well-maintained and features ample parking (60 spaces). This is a rare opportunity to acquire a stable, cash-flowing asset backed by the U.S. Government. The property's location in the southwest Chicago suburb of Palos Hills offers convenient access to major transportation routes and amenities.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Palos Hills
- County
- Cook
- State
- Illinois
- Longitude
- -87.8177
- Latitude
- 41.696
- CBSA code
- 16980
- CBSA name
- CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA
