975 Nerge RdRoselle, IL 60172

For Sale
$2,890,000

IL Office Building, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents the Cross Creek Office Center, a 36,141 square foot Class B multi-tenant office building situated on a 3.79-acre lot in Roselle, Illinois (APN: 07-35-400-011). Built in 1977 and extensively renovated in 2021, the property boasts an impressive 88% occupancy rate with 31 diverse tenants, including dentists, financial service providers, psychotherapists, and insurance companies. The current Net Operating Income (NOI) is $276,417, with a pro-forma NOI of $346,043, yielding a 9.56% cap rate. The average rent per square foot is $14.16. The property features ample outdoor parking on recently renovated paving and benefits from B-2 zoning, allowing for neighborhood shopping center or office uses. Three vacant suites are available, and the seller is willing to master-lease them upon request. The building offers a strong cash flow and significant upside potential due to its diverse tenancy and flexible zoning. The asking price is $2,890,000.

Highlights

  • Investment opportunity: Unpriced Cross Creek Office Center; offers invited.
  • Financing available through Marcus & Millichap Capital Corporation: 65% LTV, 7.0% interest, 25-year amortization with a 5-year balloon.
  • 36,141 SF Class B office building in Roselle, IL, featuring fiber and cable.
  • 3.79-acre site with ample recently renovated parking.
  • 31 diverse tenants (dentists, financial services, etc.), currently 88% occupied.
  • B-2 zoning allows for office and neighborhood shopping center uses.

Property Details for 975 Nerge Rd

Property type
Other office properties, Office properties
Square Feet
36,141 SF
Class
B
Year Built/Renovated
1977/2021
Lot Size (sq. ft)
165,092 SF

Location Insight

City
Roselle
County
Cook
State
Illinois
Latitude
41.9981329
Longitude
-88.0562467
975 Nerge Rd, Roselle, Illinois

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975 Nerge Rd
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