DEAL SUMMARY

​

List Price:  $5,500,000

NRSF:        56,300

Units:         296 Self Storage / 20 Container / 119 Parking

Acres:        5.65

​

INVESTMENT SUMMARY

​

PRIME LOCATION // Located along IL-50 with prominent visibility to car counts exceeding 6,900 vehicles/day.

​

STRONG DEMOS // The five-mile trade area boasts 26,637 people and 9,491 households.

​

FAVORABLE SUPPLY INDEX // The immediate marketplace only has four competitors, which has allowed the occupancy levels to exceed 90%.

​

OPERATIONAL OPPORTUNITY // A new owner will benefit from implementation of a high-tech management software and website, allotting customers to rent on line.

​

OUTDOOR PARKING // Property is zoned to allow for outdoor parking. One of the only sites in the market to have parking.

​

HISTORICALLY HIGH OCCUPANCY // The operation has historically enjoyed occupancy levels in excess of 90%. Without Advertising and Technology.

​

INVESTMENT HIGHLIGHTS

​

Amberstone Storage has been a fixture in the Manteno market, offering drive up self storage and outdoor parking  since 2004. The 5.65-acre parcel is improved with eight buildings that house a total of 296 units which range in size from 50 sq feet to 600 sq feet. Additionally, there are 20 container units and 119 outdoor parking spaces.   Construction and finishes are typical of a B Class Self Storage Asset including Post Frame Buildings with Metal Roofs, Concrete Paved Drive Aisles, On-Site Rental Office, Security Cameras, Fence and Gate, and a Large Monument Sign.

 

The property is located less than one mile east of Interstate 57, just north of Bourbonnais and Kankakee. The three-mile trade area consists of 4,122 households and a population of 11,164 people.  The five-mile market offers 9,491 households and 26,637 people. These statistics have allowed the current owner to enjoy an occupancy level in excess of 90 percent, with very little advertising spend and without a website that enables customers to rent units/make payments online.  As such, a new owner can build on the current rent roll through the implementation of technology and a marketing/SEO plan.  Additional upside can be achieved by pushing in-place rents, offering tenant insurance and adding truck rental.