Greenstone Partners, as the Exclusive Investment Advisors, is pleased to present the opportunity to acquire the 100% fee-simple interest in 387 Shuman Blvd. (the "Property"/"Investment"), a multi-tenant Class-A office / medical investment located in affluent Naperville, Illinois, a western suburb of Chicago.
The 53% leased Investment presents a new investor with a value-add opportunity while benefiting from in-place cashflow and a full renovation over the last few years that modernized its infrastructure. Ownership made significant investments into the Property including to the parking lot, lobby, hallways, restrooms, HVAC, electrical, plumbing, and roof. The location is highly visible from I-88, which experiences 135,000 vehicles per day, and offers signage opportunities for tenants. Naperville has experienced a boom in healthcare jobs and offers continued demand for office / medical space. Currently half of the tenant base is medical with the immediate potential to lease-up the remaining 51,742 square feet of vacancy, moving the building to a pure medical investment over the mid to long-term.
Situated in DuPage County, the Property greatly benefits from commercial property taxes that are generally significantly lower and more predictable than neighboring Cook County's. Naperville is highly regarded as a premier suburban market and was ranked #1 in a national ranking compiled by Niche: 'Best Cities to Raise a Family in America' and #4 as 'The Best City to Live in America.'
⦿ VALUE-ADD + STRONG IN-PLACE CASHFLOW
⦿ FULLY RENOVATED CLASS-A OFFICE/MEDICAL
⦿ STRONG VISIBILITY + AMENITIES
⦿ MEDICAL TENANCY + NAPERVILLE’S HEALTHCARE BOOM
⦿ STRONG MEDICAL OFFICE FUNDAMENTALS
⦿ LOCATED IN THRIVING NAPERVILLE
⦿ DUPAGE = LOW TAXES + 930,000 PEOPLE
⦿ AWARD-WINNING, AFFLUENT COMMUNITY