MULTI TENANT OFFICE BUILDINGbluechipcommercialre.com/.../02/Brochure-Investment...headquarters. RDG was a developer of numerous residential communities throughout Crystal Lake and

Offered By: Tim Billimack Managing Broker | Principal 815.355.0196 [email protected]

Blue Chip Commercial Real Estate, 101 N. Main Street, Unit 15, Crystal Lake, IL 60014 www.bluechipcommercialre.com

INVESTMENT OFFERING

800 McHENRY AVENUE, CRYSTAL LAKE, IL FOR SALE

MULTI-TENANT OFFICE BUILDING

Blue Chip Commercial Real Estate, LLC, 101 N. Main Street, Unit 15, Crystal Lake, IL 60014 www.bluechipcommercialre.com

PROPERTY SPECIFICATIONS OFFERING : For Sale BUILDING: 10,800 SF Multi-Tenant SIZE Office Building LIST PRICE: $696,000 | $64.44 SF CAP RATE: 8% NOI: $55,692 (After 10% Vacancy Factor) OCCUPANCY: 100% Occupied AGE: 1978 ACRES: 1.25 Acres FRONTAGE: 303’ (McHenry Ave ) 281’ (Barlina Road) SIGNALIZED: Yes | Stoplight Controlled ACCESS: ZONING: O-PUD (City of Crystal Lake) ELEVATOR: No UTILITIES: Municipal Water & Sanitary PARKING: 36 Spaces | Private Lot SIGNAGE: Monument

R.E. TAXES: $20,477 (2018) | $1.90 SF

Investment Highlights • 100% Leased Multi-Tenant Office Building | Located in McHenry County’s Largest Municipality

• Existing NOI of $55,692 | 8% Cap Rate

• Stoplight Controlled Intersection for Safe Ingress & Egress

• Long Term Tenancies (Substantiating the Appeal of This Location)

• Ideal Opportunity for All Investor Types with Minimal Management Required

• Easy Access to Major Thoroughfares Serving Crystal Lake (i.e., Randall Road, Northwest Hwy)

PROPERTY HIGHLIGHTS INVESTMENT OFFERING

800 McHENRY AVENUE, CRYSTAL LAKE, IL


EXECUTIVE SUMMARY INVESTMENT OFFERING


INVESTMENT NARRATIVE Blue Chip Commercial Real Estate, LLC presents an investment opportunity for qualified investors to acquire Four Colonies Office Complex, a 10,800 SF multi-tenant office building located at 800 McHenry Avenue in Crystal Lake, Illinois (“Property”). Property History: The office building was originally built in 1978 by Residential Development Group (RDG) for it residential home building company headquarters. RDG was a developer of numerous residential communities throughout Crystal Lake and the greater McHenry County trade area. During the past 15 years, RDG had slowly consolidated its operations and demised unused areas of the building into independent office suites for third party tenants. RDG ceased operating in the early 2000s, and to date, third party tenants occupy 100% of the total rentable area. The Property: The Property is situated on 1.25 acres, contains 36 parking spaces, and is zoned O-PUD in the City of Crystal Lake. The Property is served by municipal water & sanitary services. The 10,800 SF building consists of two sections; north section and south section. The north section has 3,313 SF of finished office space on the main level and 1,591 SF of finished office space in the lower level. There is an additional 978 SF of mechanical and storage space which includes an interior (1) car garage. The south section has 3,110 SF of finished office space with no lower level. Each section is separately accessed from the parking lot and the combined common hallway & restroom areas for both sections is approximately 1,808 SF. The office building contains 8,014 SF of rentable area (which excludes the 978 SF storage/garage area). The building is currently 100% leased with no existing tenant occupying more than 29% of the rentable area. While the present owner had previously derived rental income form the 978 SF storage/garage area, no existing or projected income value is assigned to this space as part of this offering. Location: The Property is located at the SWC of McHenry Avenue & Barlina Road in Crystal Lake. An estimated 48,000 residents live within a 3 mile radius of the property with an average household income of $89,500. The surrounding neighborhood consists of predominately residential and office properties and most of the existing tenants reside within a short commute of the Property. McHenry Avenue serves as a primary north/south thoroughfare for area residents and provides easy access to major thoroughfares serving Crystal Lake; including Northwest Highway & Randall Road.


NEIGHBORHOOD MAP INVESTMENT OFFERING



AERIAL TAX MAP INVESTMENT OFFERING


SUBJECT SITE


NORTH SECTION (MAIN LEVEL)

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ENTRANCE

UNITS F & H EMOTIONAL WELLNESS

UNIT G ENCORE


NORTH SECTION (LOWER LEVEL)

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UNIT 7 ENCORE

UNITS I, L, & M ENCORE

UNIT K EMOTIONAL WELLNESS


SOUTH SECTION (MAIN LEVEL)

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UNIT A VECTOR MARKETING

ENTRANCE

UNIT D EFFECTIVE SOLUTIONS

UNITS B & C COUNSELING SOLUTIONS


PROPERTY PHOTOS

INVESTMENT OFFERING



CRYSTAL LAKE MARKET SUMMARY

Crystal Lake is located 50 miles northwest of Chicago, a short drive from O'Hare International Airport, near

several major highways and interstates. The Union Pacific rail line provides easy access to Chicago. As a

result, Crystal Lake residents enjoy employment, and cultural and recreational opportunities of a major metro

city yet live in a pleasant, friendly, small-town atmosphere.

Beginning in the 1970's, Crystal Lake experienced significant changes in both its residential and business

population. The population has grown from 14,000 in the early 1970's to over 38,000 today.

The local job market is expanding rapidly; and with this expansion, citizens have access to excellent educa-

tional, recreational and cultural activities. Crystal Lake boasts two of the very best public school systems in

the region; Elementary School District 47 and Community High School District 155. Citizens are also served

by the parochial grade schools of Saint Thomas and Immanuel Lutheran, and Faith Lutheran High School of

McHenry County. Ever-expanding McHenry County College is on Crystal Lake's northern border.

Crystal Lake is truly a great place to live and work and it's also a great place to play! One of Crystal Lake's

greatest attractions is its public parks system. There are over 1,600 acres of parks and open space, as well as

230-acre Crystal Lake for fishing, boating, swimming and skating in the winter; it's truly year-round fun! The

Crystal Lake park district sponsors many of the recreational programs held throughout the city and maintains

much of the open space.

Crystal Lake is a leader in the region in the areas of planning, growth management and municipal services.

Crystal Lake offers residents a variety of excellent, high-quality programs and services at one of the lowest

municipal tax rates in the area. The city staff and elected officials are dedicated to continuing to make Crystal

Lake one of the premier communities in northern Illinois.

Crystal Lake's vibrant, historic downtown is home to over 170 businesses, including specialty stores, restau-

rants, and services which can be found within easy walking distance of each other. Readers of the Northwest

Herald have voted Crystal Lake as the "Best Downtown Shopping District in McHenry County". Downtown

Crystal Lake is host to many popular family- oriented events, including the lunch with the Easter Bunny, A

Garden Party, Farmers Market, Johnny Appleseed Festival, Halloween Handout, Festival of Lights Parade,

Breakfast with Santa, and Santa House Visits.

INVESTMENT OFFERING


Disclaimer: Blue Chip Commercial Real Estate, LLC is the owner’s designated agent and makes no warranties or representations as to the accuracy or completeness of this information contained herein. The information has been obtained through sources deemed reliable; however, it is up to the purchaser to conduct due diligence prior to sale or lease.

STREET MAP & DEMOGRAPHICS

DEMOGRAPHICS 1 MILE 3 MILES 5 MILES

2019 Est. Population 3,666 48,802 116,819

2019 Est. Average Income $94,436 $89,755 $98,435

2019 Est. Households 1,312 17,296 40,068

INVESTMENT OFFERING


Documents

MULTI TENANT OFFICE BUILDINGbluechipcommercialre.com/.../02/Brochure-Investment...headquarters. RDG was a developer of numerous residential communities throughout Crystal Lake and