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The Boulder Group is pleased to exclusively market for sale a single tenant absolute net leased corporately guaranteed 7-Eleven property located within the Chicago MSA
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
7-Eleven (S&P: AA-)5363 Lincoln Avenue
Skokie, IL 60077 (Chicago MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
1) Executive Summary
2) Investment Highlights
3) Property Overview
4) Aerial
5) Site Plan
6) Maps
7) TenantProfile
8) Demographic Comparison Report
9) Location Overview
10) Contact Information
TABLE OF CONTENTS
TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.Itisintendedtobe reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person orentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.Theinformationcontainedin this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group hasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy orcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
The Boulder Group is pleased to exclusively market for sale a single tenant absolute net leased corporately guaranteed 7-ElevenpropertylocatedwithintheChicagoMSA.Thepropertyislocatedinadenselypopulatedareawithapproximately28,000peoplelivingwithinaonemileradius.7-Elevenhassuccessfullyoperatedatthislocationsince1967.TheleasehassixyearsremainingandexpiresSeptember30,2020.Theleasehasone5-yearrenewaloptionwitha14.3%rentalescalation.7-ElevenisaninvestmentgradetenantwithaStandard&Poor’sratingofAA-.
The 7-Eleven property is located at the signalized intersection of Lincoln Avenue and Gross Point Road, a prime intersec-tionthatexperiencestrafficcountsof25,000vehiclesperday.Thepropertyislocatedapproximatelythree-quartersofamilefromaccesstoInterstate94.Interstate94experiencestrafficcountsinexcessof155,000vehiclesperday.Theprop-ertyislocatedinadenselypopulatedareawithapproximately28,000peoplelivingwithinaonemileradius.Additionally,there are over 145,000 people living within a three mile radius earning average household incomes in excess of $95,000 perannum.7-Elevenhassuccessfullyoperatedatthislocatedforalmostfiftyyearsduetoits’strategicneighborhoodlocationinoneofChicago’smoredenselypopulatedneighborhoods.
7-Elevensigneda15yearleaseextensionin2005thatexpiresSeptember30,2020.Theleaseisanabsolutetriplenetandfeaturesone5-yearrenewaloptionwitha14.3%rentalescalation.7-Elevenistheworld’slargestretailstorechainwithmorethan53,000locationsthroughouttheworld.7-ElevenisaninvestmentgraderatedcompanywithaStandard&Poor’sratingofAA-.
INVESTMENT HIGHLIGHTS
• Located within the Chicago MSA
• Corporately guaranteed
•7-Elevenisaninvestmentgraderatedtenant(S&P:AA-)
• Long standing successful operating history at this location since 1967
•14.3%rentalescalationintherenewaloption
• Located at the prime signalized intersection of Lincoln Avenue and Gross Point Road (25,000 VPD)
• Densely populated area with approximately 28,000 people living within a one mile radius
• Over 145,000 people living within a three mile radius earning average household incomes in excess of $95,000 per annum
•Three-quartersofamilefromaccesstoInterstate94(155,000 VPD)
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $975,000
CapRate: 6.46%
NetOperatingIncome: $63,000*
RentalEscalations: 14.3%inOption
RenewalOptions: One 5-Year
LeaseCommencementDate: December 1967
LeaseExpirationDate: September 30, 2020
Tenant: 7-Eleven
CreditRating: AA-(S&P)
YearBuilt: 1967
LeaseType: NNN
RentableSquareFeet: 2,800SF
LandAcreage: 10,156SF
*Seller will credit, at closing, the difference between the current rent of $57,000, until the rent escalates in October 1, 2015.
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
8,500 VPD
LINCOLN AVENUE
16,5
00 VPD
GROSS POIN
T ROAD
N
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
LINCOLN AVENUEGR
OSS
POIN
T RO
AD
N
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
7-Eleven is part of an international chain of convenience stores with more than 53,000 locations world-wide, makingittheworld’slargestoperation,franchisorandlicensorofconveniencestores.7-Elevenbrandedstores,underparentcompanySeven&IHoldingsCo.,arelocatedin16countriesand7-Eleven’sAmericandivisionisheadquarteredindowntownDallas,Texas.Seven&IHoldingsCo.,Ltd.Isadiversifiedretailgroupheadquarteredin Tokyo, Japan. 7-Eleven has recently been ranked by Forbesmagazine asNo. 2 “Top Franchisee for theMoney”for2012andNo.3“Top20FranchisestoStart”for2011.Additionally7-ElevenwasrankedNo.3onEntrepreneurmagazine’s“Franchisee500”andNo.1inStoreGrowthbyConvenienceStoreNewsfor2012.
Website: www.7-eleven.comNumberofLocationsWorldwide: 53,000NumberofUnitedStatesLocations: 7,800NumberofEmployees: 45,000Standard&Poor’sRating: AA-
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 1-mi 3-mi 5-mi
Total Population 27,939 145,700 565,855Total Households 10,689 54,040 211,322
Income
Median Household Income $56,263 $71,173 $63,700 Average Household Income $73,573 $95,126 $91,404
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Skokie isavillage inCookCounty, Illinois.AChicagosuburb, formanyyearsSkokiepromoted itselfas“TheWorld’sLargestVillage”.Accordingtothe2010census,Skokiehadapopulationof64,784residents.Sharing a border with the city of Chicago, Skokie’s streets, like that of many suburbs, are largely acontinuation of the Chicago street grid, and it is served by the Chicago Transit Authority, further cementing itsconnectiontothecity.ThevillageisborderedbyEvanstontotheeast,Chicagotothesoutheastandsouthwest, Lincolnwood to the south, Niles to the southwest, Morton Grove to the west, Glenview to the
northwest,andWilmettetothenorth.PfizeristhelargestemployerinSkokieemployingover2,100people.
www.skokie.org
Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largestcounty intheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnitedAirlines.Chicagoisamajorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportinthe
worldintermsoftrafficmovement.
ThemetroisalsoamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.Chicago is third in theworldon theGlobalFinancialCenters Indexwhich ranks thecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.ThecityhasalsobeenratedashavingthemostbalancedeconomyintheUnitedStates,duetoitshighlevelofdiversity.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CONTACT INFORMATION
CONTACT INFORMATION
666 Dundee Road, Suite 1801Northbrook, IL 60062
Randy [email protected]
Jimmy [email protected]
Steven [email protected]