Highlights
•Backed by U.S. Government Credit (AA+ Rated by S&P) •Purpose-Built Facility with Recent Roof and Parking Lot Upgrades •Original Tenant Under First-Generation Lease •Well-Built, Durable Masonry Construction in Excellent Condition •Established, Long-Standing Federal Tenant •High-Traffic Location in a Dense Urban Chicago Neighborhood
Description
The Ficke Team at Colliers has been exclusively engaged to market for sale the Social Security Administration (SSA) property located at 2416 S. Pulaski Blvd., Chicago, IL 60623. This single-tenant facility was built-to-suit for the GSA in 1993 and comprises 6,155 rentable square feet on a 0.35-acre parcel. It remains a high-traffic location, with the GSA/SSA having recently exercised a 5-year lease renewal (2 years firm), beginning February 2, 2023. The firm term runs through May 17, 2025, with the full lease expiring May 16, 2028—demonstrating the SSA’s continued commitment to the site. The property is well maintained, with recent capital improvements including a new roof and parking lot repairs, sealing, and striping completed in 2022. This investment offers a compelling value-add opportunity for investors to secure a new long-term lease at expiration in 2028, enhancing potential returns either through long-term ownership or a future disposition. The lease is backed by the full faith and credit of the U.S. Government, carrying an AA+ credit rating from S&P, providing strong income stability. Strategically located in a densely populated urban area, the property is surrounded by national retailers, financial institutions, and restaurants, and serves a local population exceeding 100,000 residents within a 3-mile radius.
Property Documents
SSA, Chicago IL brochure.pdf
1.73 MB
Listing Details
- Cap Rate
9.25%
- Tenancy
Single
- Space Type
Office
- Sub Category
Traditional
- Date Listed
9/8/2025
- Net Operating Income
$67,323
- Net Rentable
6,155 SF
Property Specifics
- Property Name
Social Security Administration (SSA)
- Property Class
B
- No of Buildings
1
- No of Stories
1
- Year Built
1993
- Building Size
6,155 SF
- Lot Size
0.35 Ac
- Occupancy
100%