DEAL SUMMARY

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List Price:   Market Driven

NRSF:         43,100 + Parking

Units:          207

Acres:         6.65

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INVESTMENT HIGHLIGHTS

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PRIME LOCATION // Located directly off a frontage road paralleling Highway 55, which sees over 70,000 vehicles per day, the property offers excellent visibility and convenient access for both local residents and businesses.

 

EXCELLENT DEMOS // The five-mile trade area has a population of 54,741, while the ten-mile radius encompasses 270,402 residents. With a per capita supply of 6.97 square feet, the market demonstrates strong demand for self-storage.

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OPERATIONS // The facility features top-of-the-class amenities, including perimeter fencing with gated access, keypad entry, 24-hour security monitoring, LED lighting throughout, and an on-site office prominently located at the front of the property.

 

ON SITE OFFICE // The facility offers an office at the front of the site, allowing a new owner to run the facility with payroll on site or fully automated.

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EXPANSION OPPORTUNITY // Given the strong achieved rental rates for climate-controlled units at the site, a new owner could expand the property with additional drive-up climate-controlled units in place of parking, thereby maximizing per-square-foot revenue potential.

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INVESTMENT SUMMARY

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Extra Space Storage (Managed) of Channahon is a very well-maintained 43,100 square foot self-storage operation with 148 parking spaces, located in Channahon, IL. The 6.65-acre parcel benefits from prominent visibility and signage on a frontage road that parallels HWY 55, which is visible to over 70,000 cars per day.

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The property is improved with seven buildings featuring drive-up units ranging in size from 50 to 500 square feet, along with 148 parking spaces. Since Extra Space assumed management, the facility has consistently maintained physical occupancy above 90%, with current occupancy at 96%. Expansion potential exists by repurposing the existing parking area for additional drive up units. Property amenities include a prominent on-site rental office, a large monument sign, perimeter fencing with gated access, metal buildings with standing seam roofs, asphalt-paved aisles, a five-camera security system with 24-hour monitoring, PTI gate access control, and LED lighting throughout.

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The facility is strategically located within a well-populated yet underserved trade area. The five-mile radius includes 54,741 residents, while the ten-mile radius encompasses 270,402 residents, supported by a below-average per capita supply of 6.97 square feet. These favorable market dynamics have enabled the property to maintain occupancy levels in the high 90% range while simultaneously maximizing ECRIs. A new owner will have the opportunity to continue this momentum, either by retaining the current third-party management company or engaging a new group, with both paths providing the ability to further increase street and legacy rental rates. Additionally, expansion potential exists by repurposing the current parking area into drive-up climate controlled buildings, capitalizing on the strong per-square foot rental rates achieved by existing climate-controlled units. Overall, this represents an excellent opportunity for a buyer to acquire a high-performing facility with stable in-place cash flow and meaningful upside through continued operational improvements and expansion.

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