2010 Professional Building

2010 Professional Building

All Medical Tenants

Average Household Income is Over $100,000 Within One Mile
84 Percent Occupied | Value Add Component

2010 South Arlington Heights Road, Arlington Heights, IL 60005

Request Offering Memorandum

Market Summary

Price                                    $3,167,480

Cap Rate                             8.17%

NOI                                      $258,757

Pro-Forma Cap Rate          9.34%

Pro-Forma NOI                   $295,866

Rentable SF                        38,864 SF

Price per SF                        $81.50

Year Built/Renovated         1973/2019

Lot Size                               2.43 Acres

Description

Marcus & Millichap is pleased to present the 2010 Professional Building, a medical office building located in Arlington Heights, Illinois. The building, at over 38,000 square feet is 84 percent occupied by medical tenants. The upside to this offering is to complete leasing up the building, upgrade existing leases and start to recapture some of the expenses for the property.

The property's upgrades during the tenure of the current ownership include a new HVAC system in 2021, a new elevator, new tile in the first floor corridors and many updated suites. A new owner could continue these upgrades and to drive tenants to the building.

Arlington Heights is an attractive destination for homebuyers, shoppers, businesses and visitors with its dynamic economy, award-winning schools, library, park district, a highly acclaimed Northwest Community Hospital. With an A+ rating on Areavibes, Arlington Heights is very safe, with its general crime rate being 66% lower, violent crime rate being 90% lower, and property crime being 62% lower than the national average.

The Village is one of the top 15 largest municipalities in Illinois, featuring a unique blend of old and new. It’s a progressive community that people are proud to call home and where young families like to establish their roots for generations to come. It’s a community that offers vibrancy and interest.