Industrial Space For Lease @ 1118 Morse Ave

The subject property is a two-tenant, 20,620 square foot industrial property, located in Spectrum Industrial Park on the south side of Schaumburg, along the Elgin O’Hare Expressway (IL-390). The building has a total of three drive-in doors and two interior loading docks and has the ability to be subdivided into three separate units. The ceiling height is 14’ clear. Newer, single ply roof installed late of 2016 with a 12 year transferrable warranty. The property is situated on 1.08 acres with the parking lot in the back of the building, and overall the property is in good condition. The building is located in the County of Cook, with relatively low real estate taxes for the area.

Currently, the building has one 10,000 square foot vacancy and one occupied 10,620 SF space. The tenant is Mercury Products who has been in the building for the past 3 years. Mercury Products has a one-year lease expiring at the end of February 2022. They have been renewing annually for the past 3 years. Mercury Products pays a monthly gross rent of $8,100. The short term lease allows a new owner to either expand into the occupied unit or increase the rent at the next renewal.

The property offers an ideal opportunity for an owner/user investor to utilize the income while occupying half of the building, or allows an investor to increase value by leasing to a new tenant. The estimated increase in value is $98,000 after expenses based on a rent of $9.50/SF. This space offers accomodations for: warehousedistribution.