Details

Industrial Baking facility

2711 George St, Chicago, IL

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hIGHLIGHTS

Size:23,442 SF

Price:$6,608,000.00

CAP RATE:6.50%

NOI:$0.00

PROPERTY
OVERVIEw

DETAILS

InCommercial Property Group is pleased to exclusively market for sale an industrial single tenant net leased property located in a rare and prime area of Chicago. 2711 W George St is strategically placed for optimal logistics and efficient deliveries. The offering presents an unparalleled opportunity to buy an industrial property with over 20 years of operating history in Chicago proper. Just under 5 miles from the center of Chicago, the site has been in continuous use as an industrial bakery since being built out for Corner Bakery in 1998-99. The 23,442 SF building has a NNN lease structure. In the current term, there are 12% escalations every 5 years. The property offers a high-cube area with a 40’ ceiling height, totaling 140,000 cubic ft and is currently being used as a freezer. The freezer also features 238 pallet positions and 22’ racking height. The exterior lot is large with 20 parking spots and plenty of space for staging or storage.

Please download and submit Non Disclosure Agreement to Luke Sauer for more information.

ANNUAL BASE RENT: $413,000.00
LEASE TYPE: NNN
BUILDING SIZE : 23,442 SF
TENANT: 3D Baking
BASE TERM: 12 years
RENEWAL OPTIONS: One 5-year
RENTAL ESCALATIONS: 12% every 5 years
EST 2022 REAL ESTATE TAX: $78,000.00
LEASE EXPIRATION DATE: 3/14/34
HIGH CUBE: 40’ ceiling height, 140,000 cubic ft freezer
DOCKS: 2 exterior docks, 1 grade-level door
YEAR BUILT: 1950
PARKING: 20 spaces
LAND SIZE: 1.16 acres
ZONING: M1-1

Location

Contact

Luke Sauer

Managing Broker

(312) 375-6045

LSauer@in-commercial.com