Office For Sale

100 W Roosevelt Rd | Wheaton, IL 60189

$1,375,000

Sale Price

 

Property Details

Price

Property Type

Year Built

NOI

$1,375,000

Office

1984

$64,267

Building Size

Total Lot Size

Cap Rate

23,864 SF

1.51 Acres

4.67%

 

Description

eXp Commercial is proud to present Park Place of Wheaton, a wholly-owned eight-unit office condo property, superbly located on prominent West Roosevelt Road and South Main Street in downtown Wheaton, Illinois, in DuPage County. Each 2,983-square-foot unit has a private entrance with separately metered and controlled tenant-paid HVAC, well-finished for professional office and medical office users. The current tenant mix is a complement of established doctors, dentists, chiropractors, and attorneys.

The property is competitively priced at $57 per square foot, less than one-quarter of construction costs. This offering provides an investor with considerable upside. Engaging professional leasing and management will facilitate achieving this performance offering an investor the potential for a near 14 percent pro forma cap rate. There is also potential for a residential redevelopment at this site, converting each unit to luxury condos or apartment rental units for which there is stated support from the City of Wheaton.

Demographic trends have substantially increased demand for this well-located suburban office property. This property offers an investor a lucrative opportunity to provide quality office space in this vibrant, growing central Dupage County market. Wheaton is bordered by Naperville to the south, Glen Ellyn to the east, Warrenville to the west, and Carol Stream and Glendale Heights to the north.

The subject property is located in Wheaton, Illinois, approximately 25 miles west of Chicago on busy Roosevelt Road, averaging 31,300 cars per day. Wheaton is the county seat for DuPage County, home of Wheaton College, sometimes referred to as “The Harvard of Evangelical schools,” and the College of Dupage. This location also offers convenient access to transportation with bus routes along Roosevelt Road, walking distance to the Wheaton Metra Train station, and minutes from the Interstate 355 tollway.

 

Highlights

  • Superb Roosevelt Rd & South Main St Corner Location Downtown Wheaton
  • Separately Controlled HVAC for Each Unit, New Roofs 2014
  • High Visibility Corner Location with Access from Roosevelt Rd & South Main
  • Wholly Owned Eight Unit Office Condo Property, No Association
  • Competitively Priced with Substantial Upside
  • Good Tenant Mix of Doctors, Dentists, Chiropractors and Attorneys
  • Residential Redevelopment Potential

Map

Randolph Taylor
Multifamily Investment Sales Broker
IL #475.142701
P: 630.474.6441
E: [email protected]

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