17524 Carriageway Dr Hazel Crest, IL 60429-2187

This exceptional investment opportunity presents a 7,002 square foot Class A medical office condominium in Hazel Crest, Illinois. Located at 17524 E Carriageway Dr, this single-story building, constructed in 1983, boasts a stabilized investment profile with a strong 8.00% cap rate and a Net Operating Income (NOI) of $123,629 in year one. The property is currently leased to Fresenius Kidney Care under a triple-net (NNN) lease commencing March 1, 2023, and expiring February 27, 2033, with a five-year lease option. The lease includes a 10% rent increase every five years, ensuring consistent income growth. Recent improvements include new perimeter fencing, parking lot repairs, seal coating, striping, and a complete building repainting and caulking. The property features ample parking (5 spaces per 1,000 sq ft) and is situated on a 7,002 sq ft condominium unit within a larger building. The property's Cook County APN is 092923320006. This prime location offers excellent potential for long-term growth and strong returns, making it an ideal addition to any investment portfolio. The property is a condominium ownership.