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8317 W North Ave - Lincoln Technical Institute 105,592 SF Specialty Building Offered at $27,192,522 CAD at a 6.85% Cap Rate in Melrose Park, IL 60160
INVESTMENT HIGHLIGHTS
- LONG-TERM TENANCY WITH RECENT EXTENSION: Lincoln Technical Institute has operated at this site for 25+ yrs and recently signed a 10-yr lease extension
- ATTRACTIVE ANNUAL RENTAL INCREASES: Lease includes 3.5% annual increases, exceeding market norms and ensuring steady income growth.
- PUBLICLY TRADED & STRONG MARKET PERFORMANCE
- CORPORATE GUARANTY: Lease backed by Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded and financially sound guarantor.
- EXPANSIVE 9.1-ACRE SITE
- HIGH PROFILE RETAIL CORRIDOR/EXCEPTIONAL VISIBILITY & TRAFFIC COUNTS/NEAR MULTIPLE MANUFACTURING AND DISTRIBUTION FACILITIES
EXECUTIVE SUMMARY
CBRE’s Net Lease Property Group – Midwest is pleased to offer the 100% fee interest in a freestanding Lincoln Technical Institute in Melrose Park, IL. A fixture at this location for nearly 25 years, Lincoln recently committed to a new 10-year lease extension. The lease features a corporate guaranty and healthy 3.50% annual rental escalations.
Strategically positioned on W. North Avenue with 49,000+ VPD, the site boasts prime visibility and access. It’s adjacent to Winston Plaza (5M+ annual visitors) and surrounded by 3M+ SF of industrial space, including Amazon and DHL.
Lincoln Technical Institute is a subsidiary of Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded leader in career-focused education with 22 campuses across 12 states and a market cap of ~$542M.
Strategically positioned on W. North Avenue with 49,000+ VPD, the site boasts prime visibility and access. It’s adjacent to Winston Plaza (5M+ annual visitors) and surrounded by 3M+ SF of industrial space, including Amazon and DHL.
Lincoln Technical Institute is a subsidiary of Lincoln Educational Services Corporation (NASDAQ: LINC), a publicly traded leader in career-focused education with 22 campuses across 12 states and a market cap of ~$542M.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$1,862,702
|
$17.64
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $1,862,702 |
| Annual Per SF | $17.64 |
PROPERTY FACTS
| Price | $27,192,522 CAD | Building Class | B |
| Price Per SF | $310.77 CAD | Lot Size | 3.73 AC |
| Sale Type | Investment | Building Size | 87,501 SF |
| Cap Rate | 6.85% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1990 |
| Property Subtype | Schools | Parking Ratio | 5.85/1,000 SF |
| Zoning | “E” Commercial | ||
| Price | $27,192,522 CAD |
| Price Per SF | $310.77 CAD |
| Sale Type | Investment |
| Cap Rate | 6.85% |
| Property Type | Specialty |
| Property Subtype | Schools |
| Building Class | B |
| Lot Size | 3.73 AC |
| Building Size | 87,501 SF |
| No. Stories | 1 |
| Year Built | 1990 |
| Parking Ratio | 5.85/1,000 SF |
| Zoning | “E” Commercial |
1 1
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $1,710,424 CAD | |
| Land Assessment | $1,284,216 CAD | Total Assessment | $2,994,641 CAD |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$1,284,216 CAD
Improvements Assessment
$1,710,424 CAD
Total Assessment
$2,994,641 CAD
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8317 W North Ave - Lincoln Technical Institute
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