250 MIDWEST CENTER - LoopNet · 250 MIDWEST CENTER FOR SALE | RETAIL All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources

SVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607 OFFERING MEMORANDUM

250 MIDWESTCENTER250 W 162ND STREETSOUTH HOLLAND, IL 60473

Nicholas ManganaisVice [email protected]

OFFERING MEMORANDUMSVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607

Sale CompsSale Comps SummarySale Comps Map

DEMOGRAPHICS 32Demographics ReportDemographics MapTraffic Counts

PROPERTY INFORMATION 3DisclaimerProperty DescriptionProperty HighlightsAdditional Photos

LOCATION INFORMATION 8Retailer AerialRegional MapLocation MapsAerial MapSite Plan

FINANCIAL ANALYSIS 14Financial SummaryRent RollIncome & ExpensesUnit Mix SummaryTenant Profile Jimmey JohnsTenant Profile HertzTenant Profile Great Face CafeTenant Profile Sultry StepsTenant Profile Global EmploymentTenant Profile Tip Nails

SALE COMPARABLES 25

250 W 162nd Street | South Holland, IL 60473

250 MIDWEST CENTERFOR SALE | RETAIL

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

1 PROPERTY INFORMATION11 PROPERTY

INFORMATION250 W 162nd Street

South Holland, IL 60473

250 MIDWEST CENTER | 250 W 162ND STREET SOUTH HOLLAND, IL 60473 SVN | Chicago Commercial | Page 3


The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be usedfor any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent ofthe SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.

The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receivingthese materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.

Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct,and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representationsor warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or madeavailable to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreement between it and Owner.

The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor anyof their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this OfferingBrochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.

This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on termsacceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing andagreed to release the Owner and the SVN Advisor from any liability with respect thereto.

To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospectivepurchaser proceeds at its own risk.

Disclaimer


SVN Commercial Chicago is pleased to present 250 Midwest Retail Center located at 240-264 West 162ndSt, South Holland, Illinois in Cook County. This multi-tenant center is a single story 7,556 SF property withsix retail tenants with a healthy mix of both national and local tenants. All tenants in the center are on aModified Gross or Gross lease structure with reoccurring rental increases throughout their leases. Thecenter was built in 2003 and features attractive brick exterior and offers excellent visibility along 162nd Stwith traffic counts exceeding 27,300 vehicles per day. This investment opportunity is located just west ofSouth Holland’s main central business district and is situated less than 1/2 mile from South SuburbanCommunity College in addition to a newly developed business park. National tenants anchoring theproperty include Jimmy John’s with its own drive-up window, Hertz Rent-A-Car with its own rear roll-upgarage entrance and car wash bay, and Global Employment Solutions. All of the tenants have hadhigh-quality custom interior build-outs performed Tenants pay all utilities directly.

The Seller has requested the utmost discretion by both brokers and their respective clients at this timesince none of the tenants are aware of the sale of the center.

PROPERPROPERTTY OY OVERVERVIEWVIEW

South Holland is a South Suburban community located approximately 22 miles directly south of the City ofChicago. In 2007, South Holland was named, “Most Livable Metro-Area Suburb” of the ChicagoMetropolitan Area by Forbes.com.

LLOCOCAATION OTION OVERVERVIEWVIEW

Property Description

SSALE HIGHLIGHTSALE HIGHLIGHTS

• Great National and Local Tenant Mix

• Excellent Visibility on Major East-West Corridor

• Less Than One/Half Mile From South Suburban Community College

• Newer Construction with Attractive Store Front with Brick Face

• End Cap Offers Drive-Up Window for Jimmy John’s

• Special Rear Roll-Up Garage Door Entrance for Hertz

• Over Sized On-Site Parking Lot

• Well-Lighted Parking Lot


Property Highlights


Additional Photos




2 LOCATION INFORMATION22 LOCATION

INFORMATION250 W 162nd Street




Retailer Aerial

250 Midwest Center


Regional Map

Location Maps


250 Midwest Center


Aerial Map


Site Plan




3 FINANCIAL ANALYSIS33 FINANCIAL

ANALYSIS250 W 162nd Street



INVESINVESTMENT OTMENT OVERVERVIEWVIEW OCT 2017 -OCT 2017 -SEPT 2018SEPT 2018 OOWNERS 2016WNERS 2016

Price $1,050,000 $1,050,000Price per SF $138.96 $138.96CAP Rate 8.5% 5.5%Cash-on-Cash Return (yr 1) 8.52 % 5.53 %Total Return (yr 1) $89,466 $58,020Debt Coverage Ratio - -

OPERAOPERATING DTING DAATTAA OCT 2017 -OCT 2017 -SEPT 2018SEPT 2018 OOWNERS 2016WNERS 2016

Gross Scheduled Income $172,212 $143,286Other Income $16,335 $14,872Total Scheduled Income $188,547 $158,158Vacancy Cost $0 $0Gross Income $188,547 $158,158Operating Expenses $99,081 $100,138Net Operating Income $89,466 $58,020Pre-Tax Cash Flow $89,466 $58,020

FINANCING DFINANCING DAATTAA OCT 2017 -OCT 2017 -SEPT 2018SEPT 2018 OOWNERS 2016WNERS 2016

Down Payment $1,050,000 $1,050,000Loan Amount - -Debt Service - -Debt Service Monthly - -Principal Reduction (yr 1) - -


Financial Summary


TENANTTENANTNAMENAME

UNITUNITNUMBERNUMBER

UNITUNITSIZE (SIZE (SF)SF)

LEALEASESESSTTARARTT

LEALEASESEENDEND

LEALEASESESSTTARARTT

ANNUANNUALALRENTRENT

% OF% OFGLAGLA

PRICEPRICEPER SFPER SF/YR/YR

LEALEASESETTYPEYPE CCOMMENTSOMMENTS

Global Employment 240 1,375 10/31/2020 Current $28,400 18.2 $20.65 Mod Gross 2-3 year options

Tip Nails 244 1,203 06/30/2019 Current $20,400 15.92 $16.96 Gross 2-3 year options

Great Face Cafe 250 1,200 08/31/2018 Current $29,400 15.88 $24.50 Gross 2-1 year options

Hertz Rent A Car 254 1,360 01/31/2018 Current $33,412 18.0 $24.57 Mod Gross 1-3 year option

Sultry Steps Inc. 260 918 09/30/2018 Current $21,600 12.15 $23.53 Mod Gross 4-3 year options

Jimmy John's 264 1,500 04/30/2019 Current $39,000 19.85 $26.00 Mod Gross 2-5 year options

TTootals/Atals/Avvereragesages 77,556,556 $172,212$172,212 $22.$22.7979

Enter comments here...

Rent Roll

INCINCOME SUMMAROME SUMMARYY OOWNERS 2016WNERS 2016 PER SFPER SF OCT 2017 -OCT 2017 -SEPT 2018SEPT 2018 PER SFPER SF

Gross sechdule Income - - $172,212 $22.79RE Tax Reimbursement - - $15,775 $2.09Cam - - $560 $0.07Gross Scheduled $143,286 $18.96 - -Real Estate Tax Reimbursement $14,319 $1.90 - -Cam Reimbusement $553 $0.07 - -

GrGross Ioss Incncomeome $158,$158,158158 $20$20..9933 $188,547$188,547 $2$24.4.9595

EXPENSE SUMMAREXPENSE SUMMARYY OOWNERS 2016WNERS 2016 PER SFPER SF OCT 2017 -OCT 2017 -SEPT 2018SEPT 2018 PER SFPER SF

Cleaning/Maintence - - $1,850 $0.24Commissions $1,500 $0.20 $0 $0.00Insurance $2,027 $0.27 $2,044 $0.27Management Service 3% $4,745 $0.63 $5,467 $0.72Repairs - - $2,500 $0.33Snow Removal/Lanscaping - - $7,500 $0.99Utilities $3,198 $0.42 $1,500 $0.20Real Estate Taxes (2015 paid in 2016) - - $78,220 $10.35Cleaning/Maintenace $1,850 $0.24 - -Repair $3,500 $0.46 - -Snow Removal/Landscaping $7,479 $0.99 - -Real Estate Tax $75,839 $10.04 - -

GrGross Expensesoss Expenses $100$100,,138138 $13.25$13.25 $99$99,,081081 $13.$13.1111

NNeet Opert Operaating Iting Incncomeome $58,$58,020020 $7$7..6868 $89$89,466,466 $11.84$11.84


Income & Expenses

UNIT TUNIT TYPEYPE CCOUNTOUNT % T% TOOTTALAL SIZE (SIZE (SF)SF) $/$/SFSF/YR/YR ANNUANNUAL RENTAL RENT MIN. RENTMIN. RENT MAX RENTMAX RENT

6 100.0 1,259 $22.79 $28,694 - -

TTootals/Atals/Avvereragesages 66 100%100% 77,554,554 $22.$22.7979 $172,$172,164164 $0$0..0000 $0$0..0000


Unit Mix Summary


Tenant Profiles


Tenant Profile Hertz


Tenant Profile Great Face Cafe


Tenant Profile Sultry Steps


Tenant Profile Global Employment


Tenant Profile Tip Nails




4 SALE COMPARABLES44 SALE

COMPARABLES250 W 162nd Street



SUBJESUBJECT PROPERCT PROPERTTYY


$1,050,000Sale Price: 1.04 ACLot Size: 2003Year Built:

7,556 SFBuilding SF: $138.96Price PSF: 8.52%Cap:

$89,466NOI:

11

BEBEGGARS PLAZAGGARS PLAZA

11309 W. 143rd Street | Orland Park, IL 60467


16,000 SFBuilding SF: $250.00Price PSF: 8.1%CAP:

06/06/2017Closed: 100%Occupancy:

Beggars Pizza anchored retail strip center.

11

22

77170 W170 W. 159. 159TH STH STREETTREET

Orland Park, IL 60462




Two tenant retail center of Mattress Firm and Urban Bricks Pizza

22


Sale Comps

33

TTORRENCE MARKETPLAORRENCE MARKETPLACECE

17701 Torrence Ave | Lansing, IL 60438




5 unit Retail Strip Center anchored by AT&T.

33

44

15850 CICERO A15850 CICERO AVE,VE,

Oak Forest, IL 60452




Two Tenant Retail Center anchored by Starbucks.

44

55

CRESCRESTWTWOOD CROSSINGOOD CROSSING

4742 W Calumet Sag Road | Crestwood, IL 60445




Two Tenant Retail Center anchored by FedEx Office

55


Sale Comps

66

22401 ROUTE 30401 ROUTE 30

New Lenox, IL 60451


6,200 SFBuilding SF: $618.39Price PSF: 07/01/2016Closed:

100%Occupancy:

Two Tenant Retail Center anchored by Five Guys.

66

77

224 ORLAND SQU4 ORLAND SQUARE DRIVEARE DRIVE

Orland Park, IL 60462




Two Tenat Retail Center with Pearle Vision and Blaze Pizza

77


Sale Comps


11

22

33

44

55

66

77

SUBJESUBJECT PROPERCT PROPERTTYY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS

250 M250 Midwidwesest Ct Cenentterer250 W 162nd StreetSouth Holland, IL 60473

$1,050,000 7,556 SF $138.96 8.52% 6

SSALE CALE COMPSOMPS PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS CLCLOSEOSE

BeggaBeggarrs Plazas Plaza11309 W. 143rd StreetOrland Park, IL 60467

$4,000,000 16,000 SF $250.00 8.1% 8 06/06/2017

77170 W170 W. 159th S. 159th StrtreeeettOrland Park, IL60462

$4,090,000 7,000 SF $584.29 6.4% 2 04/03/2017

TTorrorrencence Me Maarkrkeetplactplacee17701 Torrence AveLansing, IL 60438

$2,000,000 8,308 SF $240.73 7.2% 5 04/25/2017

15850 Cic15850 Cicerero Ao Avve,e,Oak Forest, IL60452

$2,600,000 4,972 SF $522.93 6.49% 2 03/21/2017

CrCresestwtwood Crood Crossingossing4742 W Calumet Sag RoadCrestwood, IL 60445

$4,550,000 15,812 SF $287.76 8.05% 2 09/09/2016

22401 R401 Routoute 30e 30New Lenox, IL60451

$3,834,000 6,200 SF $618.39 - 2 07/01/2016

224 Orla4 Orland Squand Squarre Drive DriveeOrland Park, IL60462

$2,325,000 5,650 SF $411.50 6.75% 2 06/12/2017

Sale Comps Summary


SUBJESUBJECT PROPERCT PROPERTTYY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS

PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS CLCLOSEOSE

TTootals/Atals/Avvereragesages $3,342,$3,342,771414 99,,135 SF135 SF $365.$365.9292 77..16%16% 3.293.29

Sale Comps Summary

250 W 162nd Street | South Holland, IL 60473SUBJESUBJECT PROPERCT PROPERTTYY

11 11309 W. 143rd StreetOrland Park, IL 60467

BEBEGGARS PLAZAGGARS PLAZA22 Orland Park, IL

60462

77170 W170 W. 159. 159TH STH STREETTREET33 17701 Torrence Ave

Lansing, IL 60438

TTORRENCE MARKETPLAORRENCE MARKETPLACECE44 Oak Forest, IL

60452

15850 CICERO A15850 CICERO AVE,VE,

55 4742 W Calumet Sag RoadCrestwood, IL 60445

CRESCRESTWTWOOD CROSSINGOOD CROSSING66 New Lenox, IL

60451

22401 ROUTE 30401 ROUTE 3077 Orland Park, IL

60462

224 ORLAND SQU4 ORLAND SQUARE DRIVEARE DRIVE


Sale Comps Map




5 DEMOGRAPHICS55

DEMOGRAPHICS250 W 162nd Street



1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

Total population 9,432 103,510 253,719

Median age 32.1 34.0 35.0

Median age (male) 29.3 31.0 32.4

Median age (female) 33.8 35.6 36.5

Total households 2,929 34,704 88,182

Total persons per HH 3.2 3.0 2.9

Average HH income $53,584 $55,294 $57,007

Average house value $175,766 $144,471 $151,714

* Demographic data derived from 2010 US Census


Demographics Report

POPULAPOPULATIONTION 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

Total population 9,432 103,510 253,719

Median age 32.1 34.0 35.0

Median age (male) 29.3 31.0 32.4

Median age (Female) 33.8 35.6 36.5

HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 1 MILE1 MILE 3 MILES3 MILES 5 MILES5 MILES

Total households 2,929 34,704 88,182

# of persons per HH 3.2 3.0 2.9

Average HH income $53,584 $55,294 $57,007

Average house value $175,766 $144,471 $151,714

* Demographic data derived from 2010 US Census

Demographics Map



Traffic Counts

Documents

250 MIDWEST CENTER - LoopNet · 250 MIDWEST CENTER FOR SALE | RETAIL All SVN® Offices Independently Owned and Operated The information listed above has been obtained from sources