Property Info

Zetabid is pleased to present for sealed bid auction a single tenant office building 100% leased to the U.S. Government (GSA) through 2035 (Department of Homeland Security (DHS) and US Customs and Border Patrol/TSA). The Property was built to suit for the current tenant and constructed in 2006 strategically located adjacent to Chicago’s O’Hare airport which is a core base of operations for the tenant. A new fifteen (15) year lease was recently signed commencing August of 2020 with several million dollars of tenant improvements completed.

This building contains an armory, seized property vault, firearms and K9 unit training facilities, evidence and interview rooms and general office space. This location was chosen do to the adjacency to O’Hare International Airport, the forth largest airport in the world (2021 passenger volume). Given it’s strategic location, tenant commitment to a new long term lease, tenant specific construction, this represents a secure stable long-term investment opportunity.

Please visit our due diligence vault to review the lease and amendments, 2020-2022 financial statements (expenses), accounting general ledgers and other key data.

All offers may include a 30-day DD period with a 15-day close. Price is the published minimum reserve price and no way represents a ‘list price’. Due date for all LOI’s shall be posted. Strong pre-auction offers also welcome.

Transaction is part of an IRS Section 170 Bargain Sale to a nonprofit with proceeds benefiting Make A Wish, DAV, and St Jude's Children's Hospital

  • City : Rosemont
  • State : IL
  • Zip Code : 60018
  • Property Type : Office
  • Square Feet : 72297
  • Lot Size : 5.56 Acres
  • Year Built : 2006
  • Tenant : US Government (GSA) Department of Homeland Security
  • Use : US Customs & Border Control | TSA (O'Hare Airport Operations)
  • Gross Proforma Income 2023 : $2,869,279
  • Lease Term : To Aug 2035 (3rd Lease Since 2006)
  • Occupancy : 100%
  • Storys : 3
  • Parking Spaces : 332
Status:Active

Additional Information

  • 13 years remaining on lease (termination option starts 2030)
  • Gross rent going forward basis is  $ 2,869,276 annually
  • Cap Rate over 5% at minimum reserve price
  • US Government high investment grade credit tenant
  • Annual CPI adjustments for operating cost rent portion
  • Property tax base year (tenant pays all increases over base year amount)

Starting Bid: $32,500,000
    Auction Start: 10/03/2022 9:00 am
    Auction End: 10/06/2022 4:00 pm
    • Time Zone :CST
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    Documents

    Important Information

    • Financing :No
    • Inspection Contingency :Yes
    • Showings :By Appointment Only - Call Eric Koesterer @ 818-426-2660

    Auction Contact

    Broker Contact

    • Name :TBD
    • Phone :(818) 426-2660