230 Mannheim Rd Hillside, IL 60162-1835

Property Details for 230 Mannheim Rd

Year built

1996

Lot size

1.39 lot acres

Property type

Retail space

APN

15-17-201-032

APU

1517201032

Description

This 14,889 sq ft, single-story office building in Hillside, IL, is 100% occupied by the Social Security Administration under a 5-year gross lease (commencing November 1, 2024) with a corporate guarantee. Built in 1998, this fee-simple property boasts a strong 8.51% cap rate and a substantial NOI of $268,073. The building sits on a 1.38-acre lot with 56 parking spaces and enjoys a prime location on Mannheim Road (US Hwy 45), providing easy access to major thoroughfares and interstates. The property features a steel frame and masonry exterior, and the roof was replaced in 2018 with a remaining warranty. The tenant, the Social Security Administration, has occupied the building since 1998, demonstrating a long-term commitment to the location. The building's high-quality construction and excellent location ensure strong residual value, even in the unlikely event of tenant vacancy. The property is zoned M-1, Hillside. The sale includes a 100% occupancy rate and the lease is backed by the U.S. Federal Government (S&P: AA+). This presents a rare opportunity for investors seeking a secure, high-return investment with a long-term, creditworthy tenant. The property's history of consistent occupancy and the recent lease renewal underscore its stability and potential for continued growth. This is a truly exceptional investment opportunity.

Location Insight

City

Hillside

County

Cook

State

Illinois

Longitude

-87.8839

Latitude

41.8749

CBSA code

16980

CBSA name

CHICAGO-NAPERVILLE-JOLIET, IL-IN-WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments