350-390 Congress Parkway, Crystal Lake, IL

Office for Sale - $4,975,000 - 48,429 Sq. Ft. on 5.77 acres


Agent Info

Richard Antczak

Property Info

CIMLS#996788
Location
  350-390 Congress Parkway
  Crystal Lake IL 60014
UpdatedDecember 29th, 2020
TypeOffice
Price$4,975,000
Building48,429 Sq. Ft.
Land5.77 acres

Contact


Property Description

As exclusive agent, Newmark Knight Frank is pleased to offer FOR SALE Congress Professional Center I and Congress Professional Center II. The property is comprised of two office / medical professional buildings consisting of 48,429 square foot located in the Crystal Lake Business Center in Crystal Lake, IL. These institutional quality properties were built in 1999 and 2000 and is currently 83% leased to a well-diversified roster of corporate and regional tenants and provides upside opportunity through the lease-up of 11,715 SF. This acquisition will provide an investor with a low risk, above average return on a best-in-class single story asset, in an historically stable office / medical market with no new supply coming on line in the foreseeable future. The largest tenant has approximately 19% of the buildings and has been a tenant there since year 1999..


Financials

Asking price at a 8.75 CAP in a GREAT medical / professional market