Social Security Administration

10718 South Roberts Road, Palos Hills, IL 60465

$3,090,000

Cap Rate 8.75%

Views: 575 DOM: 333 Updated: 10.04.24 Posted: 05.09.24 Status: Active

Summary

Price $3,090,000	Built/Renov 2024	Tenant Social Security Administration
Cap Rate 8.75%	Lease Type Modified Gross	Guarantor Corp Rated
Size/SF 9,331	Lease Start 07-27-2003	#Units 1,318
Price/SF $331.15	Expiration 06-27-2028	Tenant Type Government
NOI $270,412	R. Term 3.2	Ownership Fee Simple
Rent/SF $28.98	Increases 0.0%/0/yrs	Pop 5Mi 230,246
Lot/AC 1.14	Options 0/0yrs	AHHI 5Mi $101,777

Lease Highlights

Social Security Administration has been operating in this location since 2003
3 years remaining on the current lease term
GSA reimburses landlord annual real estate tax rent in addition to the difference between the actual taxes and the tax base
Lease guaranteed with the full faith and credit of the U.S. Government (S&P: AA+)

Location Description

Social Security Administration is strategically located on South Roberts Road. This single-tenant property consists of 9,331 rentable square feet developed in 2004 as a build-to-suit for GSA/SSA that includes 60 parking spaces and sits on 1.14 acres. The 5-mile trade area is supported by a population of 230,246 residents with an average household income of $101,777. Palos Hills, located in...

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Key Features

Build to suit
In location for years
Dense 200M+ pop 5 mi
Top 100 MSA
Strong demographics
Long operation history
Corporate Guarantee
Investment grade tenant
Over 1000 units backed
Credit rated company

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Links

Social Security Administration Wikipedia Social Security Administration Wikipedia Palos Hills, Illinois Zip Code 60465 Broker Site Page

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Local Information

1 Mile
3 Miles
5 Miles

Tenant

Tenant: Social Security Administration
Guarantor:Corp Rated
Company:U.S. Federal Government
# Units:1,318
Tenant S&P: AA+
Moody’s: Aaa
Stock:Private

About Tenant

The United States Social Security Administration (SSA) is an independent agency of the United States federal government that administers Social Security, a social insurance program consisting of...

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Demographics

	1 Miles	3 Miles	5 Miles
2029 Total Population :	13,448	87,032	216,489
2024 Total Population :	13,888	89,741	223,608
2024 Employed Civilian Pop :	6,459	42,233	109,444
2024 Total Businesses :	411	3,445	6,925
2024 Average Household Income :	$ 99,732	$ 98,240	$ 108,818
2024 Total Consumer Spending :	$ 487 M	$ 2996 M	$ 8192 M
2024 Median Age :	42	40	41
2024 Total Households :	5,609	34,812	86,085
2024 Pop Age 25+: Bachelor's Degree :	1,676	11,611	29,872
2024 Average Home Value :	$ 275,447	$ 300,301	$ 314,403

*ESRI data is presented for informational purposes only

Traffic

Collection Street	Cross Street	Year	Traffic Vol	Distance
South Roberts Road	W Tiffany Ct	2018	16,100	0.15 mi
South Roberts Road	Paxos Dr	2022	14,400	0.29 mi
South Roberts Road	Valley Dr	2022	14,400	0.39 mi
West 111th Street	S Roberts Rd	2018	2,150	0.45 mi
		2022	14,400	0.46 mi
West 111th Street	One Executive Dr	2022	26,500	0.47 mi
West 111th Street	Heritage Dr	2022	12,300	0.52 mi
		2022	14,400	0.52 mi
Southwest Hwy	76th Ave	2013	24,400	0.53 mi
103rd St	81st Ave	2014	6,000	0.56 mi

Listing Broker

Geoff Ficke

Colliers

Contact

10 Listings
2788 Views
2 Sold

Zachary Ficke

Colliers

Contact

10 Listings
2788 Views
2 Sold

Geoff Ficke

Geoff Ficke serves as Executive Vice President and is a member of the Institutional Capital Markets Group of Colliers International. Mr. Ficke focuses on the acquisition, disposition and capitalization of CTL, GSA and NNN properties and portfolios throughout the country. Mr. Ficke’s primary focus is representing sellers of investment grade assets leased to the federal government and other national credit tenants. Throughout Mr. Ficke's career he and his team have closed transactions valued at

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Zachary Ficke

Zack Ficke serves as Vice President for the Institutional Capital Markets Group of Colliers International. Mr. Ficke specializes in acquisitions, dispositions, and project capitalization solutions for CTL, NNN, and Federal Government (GSA &VA) leased property throughout the United States. Mr. Ficke’s core focus is representation of developers and sellers of single-tenant, investment grade properties with experience in both portfolio transactions and sale-leaseback executions. In additi

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