Description
The subject property is a single-story, multi-tenant Class C office building with 35,563 SF, well situated in the Park West Business Center industrial park between Gary Avenue and Schmale Road. The building is located in the Village of Carol Stream, in DuPage County. The county has low real estate taxes for the general metro area. Currently, 49% occupied, the property has seven (7) tenants, including the owner's suite and one 10,000 SF vacancy. The vacancy is comprised of seven (7) suites that were combined over the years. The property is in fair condition and has some deferred maintenance. The roof is older and at the end of its life. There are 12 rooftop HVAC units, two were replaced in 2021 and the remaining are in good, functioning condition. The property is situated on 2.63 acres with a parking lot that surrounds the building on three sides and is in fair condition. Overall the building requires capital improvements primarily with the need to replace the roof in the near future. The asking price takes this work into consideration. A buyer can either occupy the building in full, with the majority of leases shorter term, or can choose to retain some or all of the tenants, including the owner, The Inter-Local Pension Fund. This is ideal as both an owner/user building or a value-add investment opportunity and historically has had strong occupancy.
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0BEDS
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2.63ACRES
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0BATHS
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01/2 BATHS
School Ratings & Info
Description
The subject property is a single-story, multi-tenant Class C office building with 35,563 SF, well situated in the Park West Business Center industrial park between Gary Avenue and Schmale Road. The building is located in the Village of Carol Stream, in DuPage County. The county has low real estate taxes for the general metro area. Currently, 49% occupied, the property has seven (7) tenants, including the owner's suite and one 10,000 SF vacancy. The vacancy is comprised of seven (7) suites that were combined over the years. The property is in fair condition and has some deferred maintenance. The roof is older and at the end of its life. There are 12 rooftop HVAC units, two were replaced in 2021 and the remaining are in good, functioning condition. The property is situated on 2.63 acres with a parking lot that surrounds the building on three sides and is in fair condition. Overall the building requires capital improvements primarily with the need to replace the roof in the near future. The asking price takes this work into consideration. A buyer can either occupy the building in full, with the majority of leases shorter term, or can choose to retain some or all of the tenants, including the owner, The Inter-Local Pension Fund. This is ideal as both an owner/user building or a value-add investment opportunity and historically has had strong occupancy.
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