704-708 Deerpath Dr
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704-708 Deerpath Dr
71,089 SF Office Building Vernon Hills, IL 60061 For Sale
Investment Highlights
- Long Term Extension with Annual Bumps
- Sticky Location
- Lake County Real Estate Taxes
- Commitment to the Site
- Major Capital Improvements
Executive Summary
CBRE Capital Markets, Investment Properties has been retained by ownership as Exclusive Advisor and Agent to sell a 71,089-square-foot office condominium located at 704-708 Deerpath Dr, Vernon Hills, IL. Canon Medical Research USA, Inc. (CMRU) has been operating at this location since 2008 and extended its lease for 12.4 years in 2020, leaving over 8 years remaining. The lease features 3% annual rental increases and one, 5-year FMV option to renew. Along with several capital improvements set to be completed by the tenant, Canon also elected to lease additional space adjacent to the Premises, expanding the Premises by 20,372 square feet.
Canon Medical Research USA, Inc. is a multi-modality R&D center that designs next-generation medical imaging systems. Toshiba Medical Research Institute, Inc. (TMRU) was founded in September 2006 and was one of Toshiba Medical’s four global R&D companies that generated innovative ideas behind the company’s most important breakthroughs in imaging technology. CMRU has two facilities in the United States with the company’s headquarters outside of Chicago, Illinois, and a second location in Cleveland, Ohio. TMRU joined the Canon Group in December 2016 and announced its official name change to Canon Medical Research USA, Inc. in January 2018.
This Property is being marketed without a asking price. Please contact the brokers for more details.
Canon Medical Research USA, Inc. is a multi-modality R&D center that designs next-generation medical imaging systems. Toshiba Medical Research Institute, Inc. (TMRU) was founded in September 2006 and was one of Toshiba Medical’s four global R&D companies that generated innovative ideas behind the company’s most important breakthroughs in imaging technology. CMRU has two facilities in the United States with the company’s headquarters outside of Chicago, Illinois, and a second location in Cleveland, Ohio. TMRU joined the Canon Group in December 2016 and announced its official name change to Canon Medical Research USA, Inc. in January 2018.
This Property is being marketed without a asking price. Please contact the brokers for more details.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Office/Residential
Building Size
71,089 SF
Building Class
B
Year Built
1983
Tenancy
Single
Building Height
1 Story
Typical Floor Size
71,089 SF
Building FAR
0.24
Lot Size
6.71 AC
Zoning
OR&D, Vernon Hills
Amenities
- Conferencing Facility
1 of 1
Walk Score ®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 15-05-211-001 | Improvements Assessment | $1,392,905 |
| Land Assessment | $501,012 | Total Assessment | $1,893,917 |
PROPERTY TAXES
Parcel Number
15-05-211-001
Land Assessment
$501,012
Improvements Assessment
$1,392,905
Total Assessment
$1,893,917
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704-708 Deerpath Dr
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