Advantages Of Buying Properties Through AGI

Located at 17506 Chicago Avenue, Lansing, IL 60438, Lansing Self Storage presents an exceptional Class A self-storage investment opportunity within the Chicago IL MSA. Prominently situated along the highly trafficked Interstate I-80/94—with nearly 200,000 vehicles daily—this modern facility offers both unmatched visibility and accessibility.

Recently renovated in 2023, this 18,742 NRSF facility was fully converted to a 100% climate-controlled, single-story building, consisting of 229 units ranging from 4’x5’ to 11’x20’. With 3 gated entrances, advanced 24-hour video surveillance, and a remote-managed/contactless rental system, the facility delivers secure and cost-efficient operations. Despite its contactless approach, it also includes an on-site management office, allowing flexibility in operations.

Since completion in October 2023, Lansing Self Storage has demonstrated an impressive 84% lease-up within just 18 months. With average in-place rents at $20.95/SF, the asset boasts tremendous rent performance, significantly outperforming older REIT products in the region. The current cap rate sits at 7.2%, with a pro forma cap rate of 9.6%, offering room for value-add enhancements and rent increases.

From a market standpoint, the property enjoys a dominant position with only one competitor south of I-80/94, no new developments within a 10-mile radius, and strong regional demographics. The surrounding 3-mile population is 99,891, growing to 236,702 within 5 miles, with an average household income of $74,322. The per capita supply of 7.05 SF and climate-controlled supply of just 3.18 SF indicate favorable market conditions for sustained rental demand.

The property sits on 0.79 acres, was originally built in 1973, and qualifies for 1031 exchange sale conditions. It is zoned M-1 and currently has one building with one story.

With high visibility, limited competition, no deferred maintenance, and substantial income growth potential, Lansing Self Storage is a rare and lucrative investment opportunity for both institutional and private investors.