Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to exclusively offer for sale the fee simple interest in the newly-expanded Associated Builders & Contractors (ABC) facility at 2454-58 Elmhurst Rd, Elk Grove Village, IL (the “Property” or “Asset”)- adjacent to O’Hare International Airport. This 16,473 square foot flex industrial site on 1.30 acres has been renovated and expanded with significant tenant investment to accommodate the Associated Builders & Contractors (“Tenant”) consolidation plans.
Associated Builders & Contractors recently executed a new lease with an initial term of 10 years, annual rental increases, and minimal landlord responsibilities. ABC is a nationally recognized trade association with over 22,000 members throughout 69 chapters. ABC has been operating at the premise sine 2017 and recently expanded the space. The Property offers a rare opportunity to acquire a long-term cash flow in the heart of one of the most prominent industrial corridors.
BROKER OF RECORD: ALEX SHARRIN LICENSE #: IL - 475170243
EXCEPTIONAL LOCATION IN A PREMIERE INDUSTRIAL MARKET
- Situated on Elmhurst Road directly adjacent to O’Hare International Airport, one of the world’s busiest airports.
- The O’Hare industrial submarket is the second largest in the nation and has reached historically low vacancy rates of 1.9%.
NATIONALLY ESTABLISHED TENANT IN AN INDUSTRY WITH PRESSING DEMAND
- Associated Builders & Contractors is a nationally recognized non-for-profit construction industry trade association with 69 chapters and more than 22,000 members throughout the country.
- The construction industry is experiencing an extreme labor shortage. More than 650,000 workers are needed in order to meet current demand.
RECENTLY EXECUTED 10-YEAR LEASE WITH ATTRACTIVE TERMS
- The Illinois chapter of ABC has been a partial occupant of the Asset since 2017 and recently executed a new 10-year lease and is now expanding their presence to be the sole occupant of the Property.
- The NNN lease requires minimal landlord maintenance and includes a 5-year renewal option as well as annual 2.50% rent increases, providing a strong hedge against inflation.