Plainfield Medical Building

REVISED
Plainfield Medical Building

All Brick Construction
Excellent Location: Route 59 and Renwick Road


Average WALT of 4.93 Years
Strong Leases With Escalators and Some Pass Throughs
Population Has Grown Over 95% in the Last 10 Years and More Growth Coming
Average Household Income is $115,475 Within One Mile of the Property

23909 West Renwick Road, Plainfield, IL 60544

Request Offering Memorandum

UNDER CONTRACT

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Market Summary

Price                                    $3,339,140

Cap Rate                             7.72%

NOI                                      $257,668

Rentable SF                        20,281 SF

Price per SF                        $164.64

Year Built                            1999

Lot Size                               2.02 Acres

Description

Marcus & Millichap is pleased to present the Plainfield Medical Office building in Plainfield, IL. Plainfield is a southwest suburb in the Chicago Metropolitan Statistical Area. Commuters from the area can easily access the city which is approximately 40 miles away via I55.

Plainfield has seen extraordinary growth over the past 20 plus years. The population has grown by over 95% in that timeframe with growth yet to come. The population’s income potential has gone up considerably as well with the education level of new residents is rising.

The building is conveniently located at Route 59 and Renwick Road. Located in highly residential area, and near many businesses provide the tenants in the building several options for accessing clients. Two of the businesses in the building are in the dental industry and have been occupants for many years. Once dental practices have been established in a property, it is cost prohibitive for them to move due to the cost moving the equipment and the loss of clients who will not drive to a new location.

At a 14% vacancy factor the new owner will have the ability to fill that space, greatly increasing their return on the property.