Offering Memorandum · Offering Summary Price $2,450,000 Cap Rate 9.01% Net Operating Income $220,733 Number of Units 40 Price per SF $99 Building Size 24,659 S.F

1555 N. Naperville Wheaton Rd. Naperville, IL

Offering Memorandum

Bob Petrich Boardwalk CRE, President

direct: 708-917-3333

[email protected] www.boardwalkcre.com

mailto:[email protected]

EXECUTIVE OFFICE

BUILDING

NEAR I-88 & I-

355

York Rd

PROSESSIONAL

TENANTS

STRONG

DEMOGRAPHICS

Property Description

Boardwalk Commercial Real Estate is pleased to present the offering of Naperville Executive

Center at 1555 Naperville Wheaton Road in Naperville. Illinois. Naperville Executive Center is

in the thriving retail/office building corridor near Naperville Road and Ogden Avenue. The

Property is a 24,659 SF two-story office building located off of lnterstate-88 and lnterstate-355.

Naperville Executive Center caters to small and medium sized companies that desire first class

location in a first-class office building. The property has undergone substantial capital

improvements over the years that include a new parking lot resealed and stripped, new roof in

2014, HVAC replacements, lobby/common area/washroom upgrades, window improvements

and significant tenant improvements.

Recently upgraded LED lighting n the common areas, the building exterior and in the parking

lot. The tenant composition at the building is primarily health, professional services, and

financial services.

Highlights:

– Located in Illinois High Tech Corridor

– Easy highway/tollway access

– Ample on-site parking

– High speed Internet access (optional)

– Utilities included

– Close to hotels, restaurants and shopping

Table of Contents

Property Details

Photos

Local Map

Aerial Map

Marketing Analytics

Offering Summary

Underwriting Analysis

Income Expense

Rent Roll

Market Overview

Demographics

Sales Comps

Contact

Confidentiality Disclaimer

Boardwalk Commercial Real Estate (Real Estate Broker) has information contained in

such documents that will not be passed under any circumstances to another intermediary

or broker or trader or any other company or private person who is not an end buyer

without specific written consent of Boardwalk CRE is generating the information herein.

NOT TO CIRCUMVENT

The parties hereby legally, wholly and irrevocably bind themselves and guarantee to one

another that they shall not directly or indirectly interfere with, circumvent or attempt to

circumvent, avoid, bypass or obviate each other’s’ interest, or the interest or relationship

between the parties, by means of any procedures, sellers, buyers, consultants, dealers,

distributors, financial instructions, or other actions whatsoever for the purpose of

changing, increasing or avoiding, directly or indirectly, payments of established or to-be

established fees, commissions, or other continuance of pre-established relationships, or to

intervene in un-contracted relationships with intermediaries, entrepreneurs, legal counsel,

or to initiate any buy/sell or any transactional relationship that bypasses one of the parties

in favor of another individual or entity, in connection with the subject transaction or

project or any related future transaction or project.

NOT TO DISCLOSE / CONFIDENTIALITY

The parties shall use all reasonable efforts to protect the information given to it pursuant

to this and to keep it confidential, using a standard of care no less than the degree of care

that the party would be reasonably expected to employ for his own similar confidential

information. Parties may disclose the information only to those persons who have a need

to know the information. Prior to disclosing the information to employees, independent

contractors, or necessary third parties, the party shall issue appropriate instructions to

them to satisfy its obligations herein and obtain their agreement to receive and use the

information on a confidential basis on the same conditions as contained.

Property Details

Property Address 1555 N. Naperville Wheaton Rd.

City/State Naperville, IL

Number of Tenants 40

Building Size SF 24,659

Lot Size Acres 2.03

Year built 1979

Year renovated 2016

Parking 90

Number of Stories 2

Investment Overview Property Details

Visit our website at:

www.boardwalkcre.com The information contained herein has been secured by sources believed to be reliable. Boardwalk CRE however makes no

representation or warranty, expressed or implied as to the accuracy of the information. Buyer assumes all risks any inaccuracies.

Marketing & Analytics

Real-time Market Data

We offer comprehensive and research-driven, real-time market data using our current

database of assets, buyers and sellers, and pricing information. Our real estate marketing

statistics, listings and inventory data generates up-to-date comps in the Chicago-land

market.

Reporting and Analytics

Boardwalk CRE is experienced in marketing analytics and reporting tools to provide

evaluations and clear understanding of the property through powerful offering

memorandums and marketing presentations.

Lead Generation

Boardwalk CRE has proven experience in the planning and execution online marketing

campaigns to boost visibility and successfully generate real estate leads.

A Comprehensive Marketing Strategy

Our powerful internal marketing system includes MRED for Property Detail reports,

CoStar, Loopnet along with direct mail and email campaigns. We create a real estate

marketing plan that will achieve more results thru our website, social media platforms

and specialized applications.

Web-based Strategies

Boardwalk CRE has over 25 years’ experience in commercial real estate. Through our

powerful database and custom series of web-based tools, we have automated applications

designed to produce full offering memorandums in high-quality professional formats.

We use our social media reach to increase campaign success.

Personal Touch

We believe in the personal touch as real estate is still a people business. Our clients'

concerns and their achievement of goals is our top priority. We are ready to sit down

with our client, have coffee and analyze their property in detail.

Offering Summary

Price $2,450,000

Cap Rate 9.01%

Net Operating Income $220,733

Number of Units 40

Price per SF $99

Building Size 24,659 S.F.

Lot Size 89,734 S.F.

Offering Summary




Underwriting

Price $2,450,000

Down Payment $612,500

Mortgage $1,837,500

Interest Rate 5.00%

Amortization Years 25

Net Operating Income $220,733

Cap Rate 9.01%

Debt Service $128,902

Debt Coverage Ratio 1.71

Net Cash after Debt Service $91,831

Cash on Cash 14.99%

Principal Reduction 1st Year $37,888

Total Return $129,718

Internal Rate of Return 21.18%

Loan To Value 75%

Loan Amount $1,837,500

Interest Rate 5.00%

Amortization Years 25




Underwriting

H R Properties, LLC

Operating Statement

Naperville Executive Center

Aug-18

Operating

ACC. # Revenue

Statement

4100 Rent (From Rent Roll)

404,259.00

4120 Vacancy (5%)

(20,213.00) Total Revenue

384,046.00

Operating Expenses

5010 Management Fees

15,361.84

5100 Acctg/Bank/Office

0.00

5101 Bank Fees

0.00

5102 Postage & Ship

0.00

5120 Advertising

0.00

5140 Janitorial

23,183.00

5142 Carpet Cleaning

886.00

5160 Depreciation

0.00

5180 Electricity

30,011.00

5200 Gardening

3,933.00

5220 Gas

4,437.00

5240 Insurance

4,290.00 5260 Legal & Accounting

0.00

5280/5281 Maintenance - CAM

2,486.00

5285 Maintenance Elevator

3,085.00

5287 Maintenance HVAC

8,875.00

5288 Maintenance - Plumbing

1,215.00

5289 Maintenance - Roof

100.00

5291 Maintenance Lights & Elect.

1,381.00

5330 Paint & Decorating - Tenant Reno

1,217.00

5335 Painting - CAM

235.00

5360 Pest Control

375.00

Income/Expense

5400 Real Estate Tax

49,357.00

5425 Signage

190.00

5430 Snow Plowing

4,421.00

5450 Telephone

960.00

5455 Fire Alarm Monitoring

1,157.00

5490 Internet access

0.00

5500 Trash Removal

2,282.00

5520 Water

3,440.00

5530 Web Hosting

435.00

Total Operating Expenses 163,312.84

Operating Income 220,733.16




Tenant Dep Tenant

Lease

Square

Monthly

Held Since

Expires

Feet

Rent

$1,500.00

11/1/2017

10/31/2022

1,014

$1,500.00

$950.00

03/01/2008

10/31/2019

1,014

$1,410.00

$1,500.00

12/15/2016

6/30/2020

1,031

$1,425.00

$1,500.00

12/01/2005

11/30/2018

1,034

$1,550.00

$750.00

10/1/2010 8/31/2019 655

$730.00

$450.00

7/1/2004

4/30/2019

1,034

$1,150.00

$2,275.74

06/01/1996

6/30/2019

1,420

$2,275.00

$900.00

1/1/2012

5/31/2019

659

$810.00

$300.00

9/1/2015

8/31/2019

395

$400.00

$1,000.00

1/1/2015

9/30/2019

646

$1,000.00

$0.00

N/A N/A 68 $0.00

$460.00

09/01/2003

8/31/2019

281

$450.00

$395.00

6/1/2009

12/31/2018

273

$385.00

$300.00

04/01/2006

3/31/2019

184

$315.00

$300.00

04/01/2007

3/31/2020

142

$315.00

Rent Roll

$460.00

11/1/2014

6/30/2019

374

$460.00

$725.00

8/1/2013

7/31/2021

1,703 $1,845.00

$0.00

274

$445.00

$1,448.22

9/1/2016

8/31/2021

954

$1,448.23

$0.00

07/01/2001

10/31/2019

1,026

$1,310.00

$0.00

12/09/2002

10/31/2019

918

$1,310.00

$1,187.38

7/1/2012

6/30/2019

978

$1,300.00

$290.00

4/1/2017

3/31/2019

255

$325.00

$375.00

7/1/2013

9/30/2020

368

$395.00

$325.00

3/1/2016

6/30/2019

225

$380.00

$325.00

4/1/2016

3/31/2020

169

$325.00

$350.00

7/1/2014

6/30/2019

160

$340.00

$325.00

7/1/2014

6/30/2019

225

$340.00

$325.00

12/15/2016

3/31/2019

195

$315.00

$315.00

06/01/2011

5/31/2020

278

$345.00

$1,400.00

12/1/2017

12/31/2020

996

$1,400.00

$412.00

01/16/1998

2/28/2019

265

$445.00

$350.00

11/17/2014

7/31/2022

596

$750.00

$0.00

447

$600.00

$625.00

6/1/2011

12/31/2020

706

$825.00

$670.00

11/1/2017

9/30/2020

552

$670.00

$670.00

8/1/2018

7/31/2019

181

$225.00

$0.00

264

$335.00

$335.00

251

$335.00

$365.00

8/1/2018

7/31/2020

253

$365.00

$225.00

3/15/2013

6/30/2019

200

$360.00

$280.00

11/3/2014

6/30/2019

200

$305.00

$325.00

5/1/2015

8/31/2019

201

$350.00

$650.00

4/1/2013

3/31/2019

733

$695.00

$350.00

9/15/2018

9/30/2019

212

$350.00

$340.00

11/1/2014

9/30/2020

212

$400.00

$385.00

8/23/2013

8/31/2020

256

$390.00

$0.00

182

$340.00

$26,413.34

24,659

$33,738.23

23,241 94.25%

1,418 5.75%

24,659 100.00%

$31,683 93.91%

$2,055 6.09%

$33,738 100.00%

1st Floor Plan







2nd Floor Plan

Plat Map

Demographics

Sales Comps







708-917-3333

[email protected]

boardwalkcre.com

For additional information on this property please contact:

Bob Petrich

President

Boardwalk Commercial Real Estate

Documents

Offering Memorandum · Offering Summary Price $2,450,000 Cap Rate 9.01% Net Operating Income $220,733 Number of Units 40 Price per SF $99 Building Size 24,659 S.F