Marcus & Millichap is pleased to present the Chicagoland Small Bay Portfolio, a 62,000 square-foot, 100% leased, 18-suite industrial portfolio on 2.87 acres in the western suburbs of Chicago.

The portfolio consists of 300 S WashingtonAve (24,000 SF) and 608-624 CossittAve in La Grange (20,000 SF) and 4320 1stAve in Lyons (18,000 SF). Stabilized small bay product of this size and quality rarely trades, and this one comes with very limited tenant turnover. The portfolio sits in one of Chicagoland's best-connected infill corridors. La Grange & Lyons are close to I-55, I-290, and I-294, with La Grange Road (US-45) and OgdenAvenue (US-34) running through La Grange, with efficient access throughout the metro. Lyons sits along the North I-55 corridor, about five miles from MidwayAirport, or roughly a 9-minute drive, and about 16 miles from O'Hare International, roughly 30 minutes by car. La Grange is a short drive from both airports, with Midway about 12 miles away and O'Hare about 18. Tenants can reach downtown Chicago, both airports, and the western and southwestern suburbs without leaving the expressway network.

Demand comes from a deep local base. The area around La Grange has a median household income of roughly $126,000 within three miles and about 100,000 residents. The Lyons property is across the street from a 14 Acre industrial/retail development, which brings customer traffic and reinforces demand for service-oriented users. The tenants are automotive, trades, and light industrial operators serving that surrounding population.

The buildings are functional and low-maintenance. Clear heights are 16-18', and every tenant has at least one drive-in door. The La Grange roofs are only four years old, and environmental reports are already complete. Tenants are responsible for their own HVAC, and the modified gross leases include tax stops, so the largest operating expense, real estate taxes, is largely contained. Each tenant also owes an additional 5% of gross rent as CAM reimbursement. The Cossitt units can be demised down to 2,000 SF, so the suites can be re-leased easily as tenants roll.

The portfolio is 100% leased on staggered terms, so no single expiration is a major risk. The largest tenant, Gerber Collision, is about 19% of the square footage and has just extended through 2032. In-place rents average $13.27/SF in La Grange and $19.10/SF in Lyons, and contractual bumps and future re-leasing give an investor room to grow income.

At the current offering price of $11,428,000, the portfolio generates an in-place NOI of $724,241, a 6.34% cap rate, and a 6.77% cap rate on pro forma NOI of $773,390.At $184.32 per square foot, it offers a low basis for well-located, fully leased small bay industrial. Seller financing is available.