230 Mannheim RdHillside, IL 60162

For Sale
$3,150,000

Guaranteed Govt Lease, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
92
This 14,889 sq ft, single-story office building in Hillside, IL, is 100% occupied by the Social Security Administration under a 5-year gross lease (commencing November 1, 2024) with a corporate guarantee. Built in 1998, this fee-simple property boasts a strong 8.51% cap rate and a substantial NOI of $268,073. The building sits on a 1.38-acre lot with 56 parking spaces and enjoys a prime location on Mannheim Road (US Hwy 45), providing easy access to major thoroughfares and interstates. The property features a steel frame and masonry exterior, and the roof was replaced in 2018 with a remaining warranty. The tenant, the Social Security Administration, has occupied the building since 1998, demonstrating a long-term commitment to the location. The building's high-quality construction and excellent location ensure strong residual value, even in the unlikely event of tenant vacancy. The property is zoned M-1, Hillside. The sale includes a 100% occupancy rate and the lease is backed by the U.S. Federal Government (S&P: AA+). This presents a rare opportunity for investors seeking a secure, high-return investment with a long-term, creditworthy tenant. The property's history of consistent occupancy and the recent lease renewal underscore its stability and potential for continued growth. This is a truly exceptional investment opportunity.

Highlights

  • $3,150,000 asking price for a 14,889 square foot office building.
  • 100% leased to the Social Security Administration, backed by the U.S. Federal Government (S&P: AA+).
  • High renewal probability due to the building's build-to-suit nature and the GSA's history of renewals.
  • Well-maintained property with a recently replaced roof (2018) and a remaining 9-year warranty.
  • Long-term tenant commitment; SSA has occupied the building since 1998 and recently renewed for five years.
  • Excellent location on Mannheim Road (US Hwy 45) with easy access to major thoroughfares and interstates (I-88, I-290, I-294), offering strong residual value.

Property Details for 230 Mannheim Rd

Property type
Government properties, Other office properties
Square Feet
14,889 SF
Class
C
Year Built
1998
Buildings
1
Stories
1
Lot Size (sq. ft)
60,113 SF

Location Insight

City
Hillside
County
Cook
State
Illinois
Latitude
41.875281187824
Longitude
-87.884090883599
230 Mannheim Rd, Hillside, Illinois

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230 Mannheim Rd
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