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Social Security Administration 230 N Mannheim Rd

14,889 SF Office Building Hillside, IL 60162 $3,150,000 ($212/SF) 8.51% Cap Rate

Investment Highlights

  • U.S. Government Lease with High Renewal Probability and Long-Term Tenant
  • Access to Major Highways
  • Well-Maintained Property with Commitment from Tenant
  • Strong Residual Value

Executive Summary

Northmarq Commercial is pleased to offer for sale to qualified investors the opportunity to purchase a fee simple interest in the Social Security Administration (“SSA”) property at 230 N. Mannheim Road in Hillside, Illinois (the “Property”). The Property consists of a 100% leased, single-tenant, one-story 14,889-net-rentable-square-foot institutional quality office building. The building was constructed in 1998 as a build-to-suit for the SSA, and they just renewed for another five-year term at the Property (Commencing November 1, 2024). The Property is situated on an ample 1.38-acre parcel, with 229 feet of frontage along Mannheim Road (U.S. Hwy 45).
The tenant for the Property is the General Services Administration of the United States of America (the “GSA”). As a federal agency under the Executive Branch of the Government of the United States, the debts and obligations incurred by the GSA (including this Lease) are backed by the Government of the United States of America. The Government carries an investment-grade credit rating by all major rating agencies including an AA+ rating with a stable outlook from Standard & Poor’s Rating Services.

Property Facts

Sale Type
Investment
Sale Condition
Build to Suit
Property Type
Office
Building Size
14,889 SF
Building Class
C
Year Built
1998
Price
$3,150,000
Price Per SF
$212
Cap Rate
8.51%
NOI
$268,065
Tenancy
Single
Building Height
1 Story
Typical Floor Size
14,889 SF
Building FAR
0.25
Lot Size
1.38 AC
Zoning
M-1, Hillside
Parking
50 Spaces (3.08 Spaces per 1,000 SF Leased)

Amenities

  • Signage

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
15-17-201-032-0000
Land Assessment
$211,292
Improvements Assessment
$82,600
Total Assessment
$293,892
  • Listing ID: 33935930

  • Date on Market: 11/20/2024

  • Last Updated:

  • Address: 230 N Mannheim Rd, Hillside, IL 60162

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