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17W170 22nd Street | Oakbrook Terrace, ILFOR SALE | SINGLE TENANT
OFFERING MEMORANDUM
INVESTMENT HIGHLIGHTS
INVESTMENT SUMMARY
OFFERING SUMMARYAsking Price $2,428,849
Cap Rate 8.5%
Year 1 NOI $206,452
Total Square Feet 4,953
Price Per SF $490.38
Occupancy 100%
Lease Expiration January 31, 2017
Options Three (3) Five (5) Year
Lease Type [1] Fee Simple - NNN
Rent RollTenant Size Lease Start Lease Expiration Annual RentBijou Bridal[1] 4,953 Feb-02 Jan-17 $206,452.20
Option 1 Feb-17 Jan-22 $247,743.00 Option 2 Feb-22 Jan-27 $297,292.06 Option 3 Feb-27 Jan-32 $356,750.47
PROPERTY SUMMARYAddress 17W170 22nd Street
Oakbrook Terrace, IL 60181
APN 06-22-415-015
Gross Building Area 4,953 SF
Land Area 23,113 SF / .53 acres
Year Built/Renovation 1986/2002
Zoning Commercial
• Affluent & Dense Trade Area – Over 22,500, 102,665, 197,385 residents with an average HH income of $115,824, $110,273, $107,126 reside within a 1,3,5 mile radius respectively from investment offering.
• Ease of Management – Offering is pure NNN with no landlord responsibilities known.
• Recession Proof Tenant – Every year in the United States, there are approximately 2.5 million weddings. This industry has grown to a staggering $40 billion industry per year.
• Located Along Primary Commercial Corridor – Property fronts West 22nd Street, the primary commercial corridor of Oakbrook Terrace that carries over 44,100 CPD
• Close Proximity to Oakbrook Center – With over 2 million square feet of luxury retail, General Growths Oakbrook Center is home to the first Midwest Nordstrom. Other notable luxury brands include Neiman Marcus, Louis Vuitton, Burberry, Tiffany & Co., J Crew, Hugo Boss, and Lord & Taylor to name a few.
• Good Retail Synergy – In addition to the close proximity of Oakbrook Center, the property benefits from being adjacent to REI and across from the areas only Costco
PROPERTY OVERVIEW
Savills Studley’s Retail Investment Group is please to present a unique single tenant NNN opportunity in the affluent suburb of Oakbrook Ter-race, IL. The property is located along the primary commercial corridor that is home to luxury brands Neiman Marcus, Louis Vuitton , Nord-strom, Burberry, and Tiffany & Co. to name a few. With over 102,665 residents with an average HH income of $110,273 within 3 miles, this offering is poised for long term growth and stability for an investor.
[1] LL responsible for roof, structure, foundation
[1] Bijou Bridal is subleasing from David’s Bridal
AREA OVERVIEW DEMOGRAPHICS
Oakbrook Terrace is located in DuPage County, Illinois, a suburb of Chicago. For the business community and the casual tourist, it boasts easy access to four (4) major highways. The City is the home to over 4,000,000 square feet of Office Development. We are just minutes from downtown Chicago, and O’Hare and Midway Airports. Oakbrook Terrace is the home of the Chicago Automobile Trade Association, the largest Automobile Trade Association in America and the thirty-one (31) story Oakbrook Terrace Tower, the tallest office building west of downtown Chicago to the Rocky Mountains.
Oakbrook Terrace is the home of seven (7) outstanding hotels; Hilton, Hilton Garden Inn, Holiday Inn, Courtyard by Marriott, LaQuinta Inn, Comfort Suites and the Staybridge Suites, many with meeting and convention facilities. These are just a few of many reasons why so many high profile companies have chosen Oakbrook Terrace as their corporate headquarters.
Oakbrook Terrace is also known for Oakbrook Terrace Tower, an octagonal 31-story office building, was designed by Helmut Jahn and built in 1987. It is the tallest building in Illinois outside the city limits of Chicago and is currently owned by General Electric. Other points of interest are the Drury Lane Theater and approximately 40 restaurants. A central location helps to make all the wonderful cultural, sport and recreational offerings of the Chicago Metropolitan area an easy commute.
Oakbrook Terrace offers unparalleled residential living among beautiful parks, safe quiet streets and a wealth of upscale community amenities. Oakbrook Terrace has a variety of housing-condominiums-Luxury apartments-New homes with upscale improvements and older homes-all in a park like setting.
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BelmontBelmont
FlowerfieldFlowerfield
Highland HillsHighland Hills
Glen OakGlen Oak
HinesHinesYorkfieldYorkfield
StoneStoneParkPark
Oakbrook TerraceOakbrook Terrace
OakOakBrookBrook
YorkYorkCenterCenter
CountrysideCountryside
UtopiaUtopia
BroadviewBroadview
SouthSouthAddisonAddison
ClarendonClarendonHillsHills
HillsideHillside
LisleLisle
Downers GroveDowners Grove
LombardLombard
Glen EllynGlen Ellyn
Glendale HeightsGlendale Heights
WestmontWestmont
NorthlakeNorthlake
WestchesterWestchester
Villa ParkVilla Park MaywoodMaywood
ElmhurstElmhurst
Western SpringsWestern Springs
BellwoodBellwood
La Grange ParkLa Grange Park
La GrangeLa Grange
Melrose ParkMelrose Park
BrookfieldBrookfield
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17W170 22nd StreetOakbrook Terrace, IL
1 Mile
3 Mile
5 Mile
2013 Median Household Income
$150,000.01 - $200,001.00
$100,000.01 - $150,000.00
$75,000.01 - $100,000.00
$50,000.01 - $75,000.00
$25,000.01 - $50,000.00
$15,000.01 - $25,000.00
$0.00 - $15,000.00
_̂
HinsdaleGolf Club
Villagelinks of
Glen Ellyn
Queen ofHeaven
Cemetery
Mt CarmelCemetery
Collegeof DuPage
GeneralMotors
Electro-Motive
Tri-Stat e
To llway
IL-110 E
I-290 WI-290 E
IL-110 W
IL-110 W
W St Charles Rd
NLa
Grang e
Rd
IL-64 E
S W
olf R
d
W Lake St
Geneva Rd
IL-83S
Ogden Ave
IL-38 W
W 22nd St
Hill Ave
Chicago Ave
Ogden Ave
North Ave
IL-8
3S
S M
adis
on S
t
Harrison St
W Ogden Ave
IL-38 E
E 22nd St
Mai
n St
25th
Ave
N M
ain
St
Bel
mon
tRd
Villa AveIL-5
3
W Plainfield Rd
S G
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St
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S Meyers R
d
US-20 W
S C
ass
Ave
S 25
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Ave
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55th St
Wolf
Rd
31st St
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East
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Chicago Ave
W 55th St
W Roosevelt Rd
W 47th St
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FoxcroftFoxcroft
BelmontBelmont
FlowerfieldFlowerfield
Highland HillsHighland Hills
Glen OakGlen Oak
HinesHinesYorkfieldYorkfield
StoneStoneParkPark
Oakbrook TerraceOakbrook Terrace
OakOakBrookBrook
YorkYorkCenterCenter
CountrysideCountryside
UtopiaUtopia
BroadviewBroadview
SouthSouthAddisonAddison
ClarendonClarendonHillsHills
HillsideHillside
LisleLisle
Downers GroveDowners Grove
LombardLombard
Glen EllynGlen Ellyn
Glendale HeightsGlendale Heights
WestmontWestmont
NorthlakeNorthlake
WestchesterWestchester
Villa ParkVilla Park MaywoodMaywood
ElmhurstElmhurst
Western SpringsWestern Springs
BellwoodBellwood
La Grange ParkLa Grange Park
La GrangeLa Grange
Melrose ParkMelrose Park
BrookfieldBrookfield
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17W170 22nd StreetOakbrook Terrace, IL
1 Mile
3 Mile
5 Mile
Population Density
Per Square Mile15,000+
12,001 - 15,000
9,001 - 12,000
7,001 - 9,000
5,001 - 7,000
2,001 - 5,000
0 - 2,000
EMPLOYER # OF EMPLOYEESOakbrook Center 3,150McDonald’s 3,000Advocate Health Care 1,075Inland Real Estate Corporation 846Ace Hardware 796ADT 725Newell Rubbermaid 323Follett Higher Education Group 320Lions Club International 300Reed Elsevier 230
TRADE AREA PROFILERadius 1 mile 3 mile 5 milePopulation 22,499 102,665 197,385Average HH Income $115,824 $$110,273 $$107,126
TRAFFIC COUNTS22nd Street 44,100 cpdRonald Regan Tollway 88 127,400 cpdIL-83 80,000 cpd
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Wil lWil l
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McHenryMcHenry
KaneKane
KendallKendall
CamptonCamptonHillsHills
AlgonquinAlgonquin
Lake inLake inthe Hillsthe Hills
MontgomeryMontgomery
YorkvilleYorkville
NorthNorthAuroraAurora
OswegoOswego
CrystalCrystalLakeLake
HuntleyHuntleyBarringtonBarrington
RoselleRoselle
WaucondaWauconda
CrestCrestHillHill
SouthSouthElginElgin
PlainfieldPlainfield
LisleLisle
HoffmanHoffmanEstatesEstates
BloomingdaleBloomingdale
St CharlesSt Charles
LombardLombard
SchaumburgSchaumburg
AddisonAddison
NapervilleNaperville
RomeovilleRomeoville
BolingbrookBolingbrook
LemontLemont
CaryCary
CarpentersvilleCarpentersville PalatinePalatine
MundeleinMundelein
WoodridgeWoodridge
BartlettBartlett
AuroraAurora
WestWestChicagoChicago
ElginElgin
GenevaGeneva
StreamwoodStreamwoodHanoverHanover
ParkPark
GlenGlenEllynEllyn
LakeLakeZurichZurich
CarolCarolStreamStream
BataviaBatavia
WarrenvilleWarrenville
Elk GroveElk GroveVillageVillage
WheatonWheaton
LockportLockport
WestmontWestmont
WheelingWheeling
HighlandHighlandParkPark
OrlandOrlandParkPark
MortonMortonGroveGrove
WestchesterWestchester
VillaVillaParkPark
CrestwoodCrestwood
ElmwoodElmwoodParkPark
SchillerSchillerParkPark
TinleyTinleyParkPark
GlenviewGlenview
PalosPalosHeightsHeights
RiverRiverForestForest
CiceroCicero
Country Club HillsCountry Club Hills
OakOakForestForest
WinnetkaWinnetka
VernonVernonHillsHills
ArlingtonArlingtonHeightsHeights
BuffaloBuffaloGroveGrove
BlueBlueIslandIsland
HarveyHarvey
Oak LawnOak Lawn
DeerfieldDeerfield
DesDesPlainesPlaines
GoodingsGoodingsGroveGrove
EvanstonEvanston
LibertyvilleLibertyville
RiverRiverGroveGrove
LincolnwoodLincolnwood
AlsipAlsip
WoodWoodDaleDale
La GrangeLa Grange
MelroseMelroseParkPark
BurrBurrRidgeRidge
SummitSummit
WilmetteWilmette
LakeLakeForestForest
BensenvilleBensenville
HomerHomerGlenGlen
MarkhamMarkham
WorthWorth
SkokieSkokie
HickoryHickoryHillsHills
FranklinFranklinParkPark
NorthbrookNorthbrook
JusticeJustice
BrookfieldBrookfield
HinsdaleHinsdale
NorridgeNorridge
NilesNiles
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BurbankBurbank
ProspectProspectHeightsHeights
PalosPalosHillsHills
DarienDarien
HammondHammondSouthSouthHollandHolland MunsterMunster LakeLake
StationStationLansingLansing
DoltonDoltonCalumetCalumet
CityCityGaryGary
RiverdaleRiverdale
ChicagoChicago
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17W170 22nd StreetOakbrook Terrace, IL
Oakbrook Center Mall
Shops at Oakbrook Place
Oakbrook Golf Course
ButterfieldGolf Course &Country Club
Midwestern University
MeadowlarkGolf Course
Chicago HighlandsGolf Club
Fresh MeadowGolf Club
Butler National Golf Course
Oakbrook Terrace
Yorktown Shopping Center
AERIAL MAP
Savills Studley, Inc., exclusive marketing representative of the Seller, is solely authorized to present this property investment offering (the “Offering”). This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of (the “Property”). Prior to submitting an offer to purchase the Property, interested parties should perform and rely upon their own investigations, analyses, estimates and projections and otherwise satisfy any concerns regarding material aspects of the proposed transaction including, but not limited to, legal, municipal, environmental, operational, seismic, financial and physical issues, and all other matters affecting or pertaining to the Property. The Seller will be offering the Property including all appurtenances and tenant improvements, solely on an “As-Is, With-All-Faults” basis, without any representations or warranties. No person is authorized to make any representations or warranties on behalf of the Seller regarding the Property. Any and all information regarding the Property provided to any interested party by the Seller or Savills Studley, Inc., including all information contained in the Offering, is provided without any representation or assurance, express or implied, regarding the accuracy, completeness or current status of applicability of such information. Each interested party is expected to undertake such reviews and investigations and make such inquiries as such party may believe to be necessary, appropriate or advisable for the purpose of forming a decision to make an offer to acquire the Property.
The Owner expressly reserves the right, at is sole discretion, to reject any or all expressions of interest or offers to purchase the Property and/or to terminate discussions with an entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived.
The material contained herein is confidential and is presented strictly as information for the exclusive use of the prospective purchaser. Receipt and review of this Offering by the prospective purchaser constitutes an agreement not to divulge, share or distribute the information to any other party, except the prospective purchaser’s legal counsel and financial advisors, without the prior specific written authorization of the Seller or Savills Studley, Inc. Each prospective purchaser shall also agree to and comply with the provisions of the confidentiality agreement executed by such prospective purchaser prior to receipt of this Offering. This Offering is submitted subject to errors, changes, omissions, changes in price, market and other conditions. It contains selected information pertaining to the Property and does not purport to be all-inclusive or to contain all of the information that prospective purchasers may desire. It should be noted that any and all market analyses, estimates and projections contained in this Offering are provided for general reference purposes only and are based on assumptions related to the general economy, competition, real estate market trends, and other factors beyond the control of the Seller or Savills Studley, Inc.
Such analyses, estimates and projections are therefore subject to material variation, and may not be consistent with the views or assumptions held by other professionals.
PHOTOCOPYING OR OTHER DUPLICATION OF THIS OFFERING IS NOT AUTHORIZED
DISCLAIMER
Exclusive AdvisorsKyle R. MillerCorporate Managing Director213 553 [email protected] # 01716644
Downtown Los Angeles777 Tower777 S. Figueroa Street, 30th floorLos Angeles, CA 90017License # 00388260
David Metrick847 234 [email protected]
Peter Rusnak847 733 [email protected]
Envision Realty Advisors900 North Shore Drive, ste 212Lake Bluff, IL 60044
Envision Realty Advisors900 North Shore Drive, ste 212Lake Bluff, IL 60044
