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Listed by Craig Wolfof Strauss Realty Ltd
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Est. payment /mo
Price Dropped by $100K
14600 Kilpatrick AVE Midlothian, IL 60445
35,900 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active
Purchase Type For Sale
Square Footage 35,900 sqft
MLS Listing ID 12570028
Annual Tax Amount $142,497
Tax Year 2024
Lot Dimensions 234x301
Property Sub-Type Industrial
Property Description
Strauss Realty, Ltd. is pleased to present 14600 Kilpatrick Avenue, a multi-tenant industrial investment opportunity in Midlothian, Illinois. The property consists of two buildings totaling approximately 35,900 square feet and 42 individual units. Building 1 (Units 1-14) includes approximately 9,800 SF, with units averaging 700 SF each. Building 2 (Units 15-42) totals approximately 26,100 SF, with units averaging 900 SF, including several combined spaces. A shared, secured restroom is located between Units 16 and 17. Offered at $3,350,000, the property features a diversified small-bay tenant base. Current NOI is $309,646, reflecting an 9.24% cap rate, with stable in-place income and potential for future rental growth. Recent capital improvements include demising select double units into single units, installation of bollards around gas meters, implementation of a mastered key system (GoldyLocks), and new heaters in select spaces. Ownership is currently completing installation of a required fire alarm system per the Village.
Location
State IL
County Cook
Interior
Cooling None
Fireplace N
Exterior
View Y/N true
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