Single Tenant Industrial Investment
411 Union St
Geneva, IL 60134
Highlights
- Long term, sticky tenant
- NNN lease with minimal landlord responsibilities
- Potential for future redevelopment
Description
FOR SALE: 37,000sf freestanding industrial building on 2.68 acres. Heavy power. 3 docks and 1 drive-in door. Brand new storage shed.
The tenant, Olon Industries, manufactures woodworking components for furniture and cabinets, and has been in business for over 40 years. They have been tenants since 2007, and the current lease runs through 7/31/26 with (2) 1-year options. Tenant has invested heavily in the building infrastructure as it is a critical part of their North American operations.
Under the triple net lease structure, the tenant pays for real estate taxes, insurance, and general maintenance; landlord is only responsible for the roof.
Located in the heart of Geneva. 4 min to Geneva train station (Union Pacific West Line). 15 min to I88 via Rt 31. 50 min to Chicago O'Hare International Airport.
