For Auction

Industrial Asset - Double Digit Cap Rate - 78% Occupied

1300 S 7th Street,
DeKalb, IL 60115

Asset Snapshot

Real Estate
Asset Type
Industrial
Property Type
Warehouse
Industrial Subtype
1967
Year Built
2021
Year Renovated
23.70 Acres
Land Area
78%
Occupancy
Occupancy As Of
131,000 SF
Property Size

Offering Summary

Investment Highlights:

  • Value-add Industrial Warehouse Investment Sale in Dekalb, IL
  • $385,580 current net operating income at 78% leased
  • Additional vacant 13 acres of land where owner could build an additional 130,000 SF structure
  • Site lies within one mile of two  I-88 expressway exits and within 1-hour drive to Chicago MSA
  • Roof was replaced in 2008 with a Duralast membrane roof and has a 25-year useful life
  • 2,000 AMP three-phase 480V electricity and high-pressure natural gas
  • $850 million Facebook Data Center is under construction and is located less than 2 miles away from site
  • New Ferrara candy warehouse being built nearby


Offering Summary:

Friedman Real Estate Group and RealINSIGHT Marketplace are pleased to present Hovis Light Industry Park (The "Property"). The offering is inclusive of a 131,000 SF multi-tenant industrial building and 13 acres of vacant land that is shovel ready with infrastructure construction complete. The principal structure was built in 1967, fully renovated in 2008, with improvements to lighting and build outs within the last three years. Current tenants represent a mix of uses including storage, service industry, and some light manufacturing. The unused acreage potential uses include warehouse space, outdoor storage, container storage, or even potential residential redevelopment. With current income, the property represents not only a great investment, but a value-add candidate with the development of the additional acreage. Notable nearby corporations include: Target distribution center, 3M Industrial distribution center, Panduid distribution center, Ferrara manufacturing facility, and a Nestle USA distribution center.
 

Due Diligence

Platform Fee

Buyer pays a minimum platform fee of 5% or $25,000 at closing.

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Auctioneer

Scott Bowers
c/o Fisher Auction Company Inc.
License: 040000273

Need Help?

Your transaction managers are your first point of contact for any auction or process questions. For additional support:

info@rimarketplace.com800-915-7015

Closed

This asset was part of the June 16th 2021 auction event, resulting in a successful transaction that closed in just 74 days.
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Investment Sales Brokers

Kellen Duggan
Friedman Real Estate
IL License: 471020070
(847) 682-5024kellen.duggan@freg.com
Victor Lewis
Friedman Real Estate
IL License: 471018273
(773) 213-0296torrey.lewis@freg.com

Disclaimers

The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions. Any documents and/or pictures posted herein or elsewhere on the RealINSIGHT Marketplace (the "Website") are for informational purposes only, and may not represent the current condition of the Property or the condition of the Property at the time of sale. The posting of pictures herein or elsewhere on the Website does not constitute a guarantee that any items represented in the pictures will be present when the buyer takes possession of the Property. You are encouraged to conduct your own due diligence and investigate all matters relating to the Property. It is recommended that you seek independent advice, including legal advice, to perform your due diligence and that you use good faith efforts in determining that the content of all information provided to or obtained by you is accurate.