Investment Property For Sale - LoopNet...1651 North Main Morton, IL 61550 Parker Hannifin Building Investment Property For Sale BRUCE HAGE MARK FETZER Vice President - Broker 309.808.2125

1651 North MainMorton, IL 61550

Parker Hannifin Building

Investment Property For Sale

BRUCE HAGE MARK FETZERVice President - Broker 309.808.2125309.808.2125 [email protected] [email protected]

CORE3PM.COM1716 RT Dunn Drive Suite 4

Bloomington, IL 61701

BRUCE HAGE MARK FETZER CORE3PM.COMVice President - Broker 309.808.2125309.808.2125 309.808.2125 1716 RT Dunn Drive Suite [email protected] [email protected] Bloomington, IL 61701

SALE PRICE $5,200,000

OFFERING SUMMARY

Cap Rate: 6.37%

NOI: $331,056

Lot Size: 5.42 Acres

Year Built: 1999

Building Size: 58,568 SF

Renovated: 2018

Zoning: I-2

Market: Morton

Price / SF: $88.79

PROPERTY HIGHLIGHTS

• Single Tenant - Triple Net Lease

• 20 Year Tenant (Parker Hannifin)

• Newly signed 5 year extension

• Fortune 500 Tenant with Global Footprint

• Greater Peoria, Illinois Market

• Outstanding Transportation Hub

• Building was custom built for the existing tenant

• Newly resurfaced parking

• Humidity controlled environment

• Offered at $5,200,000

1651 North Main, Morton, IL 61550Parker Hannifin Building

Executive Summary


Core 3 is pleased to present the exceptional opportunity to acquire a 100% fee-simple interest in thesingle-tenant net leased Parker Hannifin Building (“The Property”), located at 1651 North Main Street inMorton, IL 61550. The Property consists of a 58,568 square-foot building on 5.42 acres of land. The buildingwas initially constructed in 1999 for Preco, Inc. who's interest was eventually owned by Parker Hannifin, aglobal leader in industrial parts development and manufacturing. The original, 20-year, net lease was justrenewed for 5-years and runs through 2024. Thereafter, Parker Hannifin has an additional 5-year renewaloption. The Property is located in Morton, Illinois, a sister community to Peoria, Illinois, home to the 12,000person Caterpillar workforce. The population of 105,882 within a ten-mile radius is ripe with a skilledassembly and technical labor force. Parker Hannifin is the world’s leading diversified manufacturer ofmotion and control technologies and systems. The company’s engineering expertise spans the core motionand control technologies – electromechanical, hydraulic and pneumatic, fluid and gas handling, filtration,sealing and shielding, climate control, process control and aerospace. Parker operates in 50 countries andemploys approximately 57,000 people worldwide. In fiscal year 2018, Parker had sales of $14.3 billion.

PROPERTY OVERVIEW

The subject property is located near the northeastern edge of the city of Morton, Illinois. The population ofMorton is approximately 16,000. Caterpillar, Inc. maintains a parts facility within Morton. There are alsosmaller manufacturing businesses that provide subcontracting services to Caterpillar, as well as computerand professional service providers. The subject property is located on N. Main Street, inside an industrialpark. The subject property is located in close proximity to Interstates 74 and 155. Morton has excellenttransportation opportunities, based on the presence of Interstates 74, 155, and 474. Morton is locatedwithin the Peoria-Pekin Metropolitan Statistical Area. Peoria is the largest city within the area, and Mortonis considered as a suburban area of the city. In addition to proximity to Peoria, Bloomington-Normal islocated 30 miles east of Morton.

LOCATION OVERVIEW


Property & Location Overview


TENANT PROFILE

Parker Hannifin CorporationParker Hannifin is the world’s leading diversifiedmanufacturer of motion and control technologies andsystems. The company’s engineering expertise spansthe core motion and control technologies –electromechanical, hydraulic and pneumatic, fluid andgas handling, filtration, sealing and shielding, climatecontrol, process control and aerospace. Parkeroperates in 50 countries and employs approximately57,000 people worldwide.In fiscal year 2018, Parkerhad sales of $14.3 billion.

GLOBAL HEADQUARTERS

6035 Parkland BoulevardCleveland, OH44124Phone: 216 896 3000www.parker.com

AT A GLANCE

• +1,000,000 products sold• 16,900 distribution/MRO outlets• 1,100 markets served• 310 manufacturing plants


Tenant Profile


TENANTNAME

UNITNUMBER

UNITSIZE (SF)

LEASESTART

LEASEEND

ANNUALRENT

% OFBUILDING

PRICEPER SF/YR

Parker-Hannifin 58,568 1/1/1999 6/30/2024 $348,480 100.0 $5.95

Totals/Averages 58,568 $348,480 $5.95


Rent Roll



Additional Photos



Location Maps


POPULATION 1 MILE 5 MILES 10 MILES

Total population 1,395 35,067 105,882

Median age 39.3 40.7 39.4

Median age (Male) 36.2 38.6 38.1

Median age (Female) 41.9 42.4 40.6

HOUSEHOLDS & INCOME 1 MILE 5 MILES 10 MILES

Total households 499 13,764 41,962

# of persons per HH 2.8 2.5 2.5

Average HH income $96,841 $80,180 $72,648

Average house value $234,765 $196,539 $176,329

* Demographic data derived from 2010 US Census


Demographics


LIMITING DISCLOSURES

Core 3 hereby advises all prospective purchasers of this Single Tenant Net Leased property as follows:The Marketing Brochure was prepared by Core 3, an independent firm. It contains selected information pertaining to the Propertyand does not purport to be all-inclusive nor contain all of the information that a prospective purchaser may desire. Theinformation contained in this Marketing Brochure has been obtained from sources we believe to be reliable. However, Core 3 hasnot and will not verify any of this information, additionally, Core 3 makes no guarantee, warranty or representation whatsoeverabout the accuracy or completeness of any information provided. As the Buyer of a single tenant property, it is the Buyer’sresponsibility to independently confirm the accuracy and completeness of all material information before completing anypurchase. While the tenant’s past performance at this or other locations is an important consideration, it is not a guarantee offuture success. This Marketing Brochure is not a substitute for your thorough due diligence investigation of this investmentopportunity. An opportunity to inspect the Property will be made available to qualified prospective purchasers. The Owner andCore 3 expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers to purchase theProperty and/or to terminate discussions with any party at any time with or without notice. Owner shall have no legal commitmentor obligation to any purchaser reviewing this Offering Memorandum or making an offer to purchase the Property unless a writtenagreement for the purchase of the Property has been fully executed, delivered, and approved by the Owner. This MarketingBrochure is the property of the Core 3 and its contents are of a confidential nature. All information contained must be held andtreated in the strictest confidence. The contents may be only by parties approved by the Core 3 or the Owner. By accepting thisMarketing Brochure you agree to release Core 3 and the Owner's and hold them harmless from any kind of claim, cost, expense, orliability arising out of your investigation


Disclosures

Documents

Investment Property For Sale - LoopNet...1651 North Main Morton, IL 61550 Parker Hannifin Building Investment Property For Sale BRUCE HAGE MARK FETZER Vice President - Broker 309.808.2125