Social Security Administration | 10718 S Roberts Rd
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Social Security Administration 10718 S Roberts Rd
9,331 SF Retail Building Palos Hills, IL 60465 $3,090,000 ($331/SF) 8.75% Cap Rate
INVESTMENT HIGHLIGHTS
- Lease guaranteed with the full faith and credit of the U.S. Government (S&P AA+ credit rating)
- Remaining Term of 4.35 Years
- Well-maintained masonry building
- Build-to-Suit for the GSA/SSA in 2004
- GSA reimburses landlord annual real estate tax rent in addition to the difference between the actual taxes and the tax base
- Palos Hills is a southwest suburb of Chicago, Illinois
EXECUTIVE SUMMARY
The Ficke Team of Colliers is pleased to present to qualified investors the Social Security Administration (SSA) located at 10718 S Robert Road, Palos Hills, Illinois. This single-tenant property consists of 9,331 rentable square feet developed in 2004 as a build-to-suit for the GSA/SSA that includes 60 parking spaces and sits on 1.14 acres.
The GSA Exercised their five (5) years renewal option effective July 27, 2023, expiring June 26, 2028, and firm-term through June 27, 2028. This lease includes a unique real estate tax structure for the GSA to reimburse landlord $51,227.19 for tax rent in addition to the difference between the actual real estate taxes and the tax base of $54,290.81 throughout the lease term, assisting the landlord to defray increases in real estate taxes. This is an excellent opportunity for an investor to acquire a stabilized cash flow with rent guaranteed by the U.S.
Government (S&P AA+ credit rating).
The GSA Exercised their five (5) years renewal option effective July 27, 2023, expiring June 26, 2028, and firm-term through June 27, 2028. This lease includes a unique real estate tax structure for the GSA to reimburse landlord $51,227.19 for tax rent in addition to the difference between the actual real estate taxes and the tax base of $54,290.81 throughout the lease term, assisting the landlord to defray increases in real estate taxes. This is an excellent opportunity for an investor to acquire a stabilized cash flow with rent guaranteed by the U.S.
Government (S&P AA+ credit rating).
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,331 SF
Building Class
C
Year Built
2004
Price
$3,090,000
Price Per SF
$331
Cap Rate
8.75%
NOI
$270,412
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.14 AC
Zoning
B-1, Palos Hills
Parking
60 Spaces (6.43 Spaces per 1,000 SF Leased)
Frontage
101 FT on Roberts
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 23-14-400-018-0000 | Improvements Assessment | $202,116 |
| Land Assessment | $84,603 | Total Assessment | $286,719 |
PROPERTY TAXES
Parcel Number
23-14-400-018-0000
Land Assessment
$84,603
Improvements Assessment
$202,116
Total Assessment
$286,719
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Social Security Administration | 10718 S Roberts Rd
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