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$4,400,000
Est. payment /mo
20,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office/Tech
Listing Status Active
Purchase Type For Sale
Square Footage 20,000 sqft
Price per Sqft $220
MLS Listing ID 12590283
Year Built 2005
Annual Tax Amount $112,581
Tax Year 2024
Lot Size 1.380 Acres
Lot Dimensions 60113
Property Sub-Type Office/Tech
Property Description
An unparalleled investment opportunity to acquire a 20,000 square foot professional office building strategically situated in the heart of Orland Park's thriving Medical Corridor. Divided into four flexible ~5,000SF units, this property offers a dynamic blend of immediate income via a proposed Sale-Leaseback and substantial value-add potential through the lease-up of ~12,000 SF of premium space. Its location and configuration make it ideal for medical, biotech, and professional office tenants seeking proximity to major healthcare facilities, robust patient demographics, and access to major thoroughfare. Building Configuration and Investment Upside: The property features four distinct suites, offering flexible leasing strategies for the investor: CURRENT MONTHLY INCOME-$16,833 POTENTIAL MONTHLY INCOME-$33,333 - Unit 1S (Ground Floor-~5,000 SF): Immediate Cash Flow Sale-Leaseback Opportunity: The current owner/occupant is offering to remain as a tenant, securing the buyer with immediate, stabilized cash flow at an estimated rate of $20.00SF NNN. - Unit 1N (Ground Floor - ~5,000 SF): Ideal for Medical Users- Presented in shell condition, this space is a perfect fit for a Medical User requiring a highly customized build-out, capitalizing on the property's prime location within the medical cluster. - Unit 2S (Second Floor -~5,000 SF): Specialized/Office Use Value-Add Potential: This floor is suited for a range of uses, from traditional office to specialized needs like a Biotech company or micro-office suite, allowing an investor to achieve full occupancy and maximize the property's $400,000 potential Gross Annual Income (GRI). - Unit 2N (Second Floor- ~5,000 SF) ~3000 Sf rented for $6000, and there is ~ 2000 sf vacant. (Separate owner). This beautifully constructed two-story office building currently has 4,899 SF of office/medical space for sale in the heart of Orland Park. An ideal owner-user investment opportunity. The buyer can occupy 1,959 SF while collecting rental income from the remaining 2,940 SF of leased space. The property is well maintained and features ample parking along with large windows wrapping the entire building, flooding the interior with natural light. Suite 200 (Vacant) showcases a high-end build-out with quality finishes throughout. Elegant details such as solid mahogany doors, wainscoting throughout, and striking double glass entry doors create a refined and professional atmosphere. This is a PRIME office space that truly leaves a lasting impression!
Location
State IL
County Cook
Area Orland Park
Zoning COMMR
Interior
Cooling Central Air
Fireplace N
Building
Dwelling Type Office/Tech
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Listed by Rocco Zaccaro of Coldwell Banker Realty