Sky Harbor Flex Center

Discover the vibrant community surrounding the property in Northbrook, IL. Enjoy convenient access to an array of local amenities, including exciting dining options like The Happ Inn, tasty Italian cuisine at Francesca's North, and upscale shopping at Northbrook Court. Immerse yourself in nature with nearby parks and recreational areas, such as Techny Prairie Park and Fields and the beautiful River Trail Nature Center. Additionally, appreciate the area's rich cultural offerings with the conveniently located Northbrook Historical Society and the Northbrook Public Library. The location offers a perfect blend of work and leisure, providing an attractive environment for potential office tenants.9.5% going-in cap, 100% leased. $372,031 NOI on a 17-tenant roll with 3% annual bumps and a 3.0-year weighted term $93.37/SF basis vs. $105–$148/SF comps. About 23% below the ~$121/SF comp average; the comp set implies a value north of $5.0M on price-per-foot and $5.3M+ on cap rate. $433K of Recent CAPEX. HVAC, roofing, water/sewer, tuckpointing, windows and doors, parking lot, and a contracted interior renovation the seller completes - the buyer inherits a repositioned asset, not a project. Durable small-bay fundamentals. 6% submarket vacancy, no new small-bay supply, and 1,100–3,300 SF units that stay full through cycles, minutes from I-294 and I-94 in Sky Harbor Industrial Park.Introducing Sky Harbor Business Park, a dynamic office complex hosting over 700 businesses. Embrace the versatility of flexible layouts in a thriving business campus setting, complemented by dedicated onsite property management. With ample site parking and minutes from the I-94 & I-294 interstates, this prime location offers unparalleled accessibility for tenants and clients. Discover a collaborative environment that fosters innovation and productivity, providing an exceptional platform for businesses to flourish. Join a diverse community of professionals in a strategic business hub designed to elevate your company's success.