1329 N Lake St Immeuble de 29 624 pi² • Spécialité • À vendre • Aurora, IL 60506

Offering Memorandum available via link:
https://www.cbredealflow.com/buyer/agreement?pv=9x8cyF3252Qh_ntz3y2EjGLZLhzF-B1msV_yFOXUtAwrmdlavUBQFFROh-iVsnV7
CBRE, Inc. is exclusively representing the sale of 1329 North Lake Street, (“The Property”), a fully leased investment located in the Chicago suburb of Aurora, Illinois. The Property features a single tenant: The State of Illinois Department of Corrections Fox Valley Adult Transition Center which is dedicated to providing support services for women in their successful reintegration into society following incarceration. Since 1972, the Department of Corrections has continuously operated this facility, initially for men only, its purpose was shifted in 2000 to provide services for women.
The Property features a four-story, ±29,686 square foot brick edifice, accommodating up to 128 female residents in 40 individual dormitory style rooms. It also encompasses administrative offices, alongside areas for counseling, academic initiatives and volunteer efforts. Educational programs offered include adult basic education, GED preparation, and college-level courses. The building is served by 22 surface parking spaces.
Tenant is currently under a gross lease with Tenant paying for utilities, janitorial, snow removal and other operational expenses. The current lease expires October 30, 2030 and Tenant has a five-year option to extend.
The property is situated on the southeast corner of North Lake Street (21,100 avg. vehicles per day) and Sullivan Road (10,500 avg. vehicles per day) and this intersection is regulated by a stoplight. Included in this offering is an area of vacant land adjacent to this corner which presents an opportunity for future commercial development and income potential without compromising the current structure and parking.
The area is highly populated, with approximately 98,659 individuals residing within a three-mile radius. Its proximity to educational institutions, a hospital, retail centers, dining establishments, and various government offices ensures a wealth of entry-level employment prospects.
It is conveniently located next to a Social Security Administration field office and across the street from Prime Healthcare Mercy Medical Center where residents may seek additional services. The Mercy Medical Center just renewed with a long term lease showing their commitment to the area.