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The Boulder Group is pleased to exclusively market for sale a single tenant net leased CITGO property located in the Chicago MSA
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NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CITGO2501 Light Road
Oswego, IL (Chicago MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TABLE OF CONTENTS
TABLE OF CONTENTS
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
TheBoulderGroup ispleased toexclusivelymarket forsaleasingle tenantnet leasedCITGOproperty located in theChicagoMSA.Thepropertywasoriginallyconstructedin1999ona1.39acreparcel.Thegasstationpropertyfeatures14gaspumpsandaconveniencestore.ThepropertyisbenefittedfrombeinglocatedimmediatelysouthfromalargeCaterpillarmanufacturingplant thatemploysapproximately2,500people.The leasecommencedFebruary2004andincludesannualrentalescalationsof1.75%.Thereareapproximately10yearsremainingintheprimarytermofthelease.
Thesubjectproperty is locatedalongLightRoad (IllinoisRoute31). IllinoisRoute31hasaccess tobothHighway30(25,000VPD)andInterstate88tothenorth.Interstate88experiencestrafficcountsinexcessof75,000vehiclesperday.Thereareapproximately60,000peoplelivingwithinathreemileradiusearningaveragehouseholdincomesinexcessof$77,000annually.TheCITGOpropertyislocatedjustsouthfromaCaterpillarplantthatemploys2,500people.Caterpillaristhelargestemployerwithintheareaandhasoperatedatthisfacilitysince1958.
CITGO’soriginalleasetermisfor20yearswithfour5-yearrenewaloptionsandtheleaseexpiresinFebruary2024.Theleasefeaturesannualrentalescalationsof1.75%throughouttheprimaryterm.TheguarantorisGasMartUSA,aprivatelyheldcorporationthatoperates108locationsinsevenstates.
INVESTMENT HIGHLIGHTS
• LocatedwithintheChicagoMSA
• 1.75%annualrentalescalations
• Longtermleasewith10yearsremaining
• Nolandlordresponsibilities
• LocatedjustsouthfromaCaterpillarplantthatemploys2,500people
• Onlygasstationwithinatwomileradius
• Thereareapproximately60,000peoplelivingwithinathreemileradiusearningaveragehouseholdincomesinexcessof$77,000annually
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $3,594,594
CapRate: 8.75%
NetOperatingIncome: $314,531
RentalEscalations: 1.75%Annually
RenewalOptions: Four5-year
LeaseCommencementDate: February11,2004
LeaseExpirationDate: February29,2024
Tenant: CITGO
Guarantor: GasMartUSA
YearBuilt: 1998
LeaseType: NNN
RentableSquareFeet: 9,262(combinationofbuildingandcanopy)
LandAcreage: 1.39acres
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
AERIAL
AERIAL
SOUT
H L
AKE
STR
EET
(ILLI
NO
IS R
TE 3
1)
N
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
SITE PLAN
SITE PLAN
NUS HIGHWAY 31
Gas Dispensers
LIGH
T RO
AD
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
MAPS
MAPS
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Citgo Petroleum Corporation (orCITGO)Americanrefiner,transporterandmarketeroftransportationfuels,lubricants,petrochemicalsandother industrialproducts.Thecompany isownedbyPDVAmerica, Inc.,an indirectwhollyownedsubsidiaryofPetróleosdeVenezuela,S.A.,thenationaloilcompanyofVenezuela.ThecompanyhasitsheadquartersintheEnergyCorridorareaofHouston,Texas.
www.citgo.com
GasMart USAwasfoundedin1995andcompletedconstructiononitsfirststoreinearly1996.During2012GasMartexpandedit’soperationstoinclude2KansasTurnpikelocationsandanadditional37siteslocatedinKansasandMissouri.Today,GasMartUSAhas108 locations insevenstatesthroughouttheMidwest.Theyareheadquartered insuburbanKansasCityandareprivatelyheld.
www.gasmartusa.com
TENANT PROFILE
TENANT PROFILE
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
Population 1-mi 3-mi 5-mi
TotalPopulation 8,857 58,027 160,068TotalHouseholds 3,087 19,295 50,296
Income
MedianHouseholdIncome $75,759 $77,671 $62,028AverageHouseholdIncome $85,681 $90,678 $77,634
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
OswegoisavillageinKendallCounty,Illinoisthatasofthe2010censushadapopulationof30,355.Thepopulationhasmore thandoubledsince the2000census.Oswego is the largestmunicipality locatedwithinKendallCounty.Oswegoislocatedapproximately45milessouthwestfromdowntownChicago.Thecommunityisstrivingtokeepitssmalltowncharacteranditremainsagreatplacetoraiseafamily.ManynewresidentscitethehighqualityschoolsasthereasontheymovedtoOswego.CommunityUnitDistrict308hasanexcellentreputationintheChicagolandareaandhasmaintaineditshighstandards,evenas
enrollmenthasincreased.OswegoisalsohometoalargeCaterpillarplant.
www.oswegoil.org
Chicago is themostpopulous city in theMidwesternUnitedStatesand the thirdmostpopulous cityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnitedAirlines.Chicago isa
majorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsofvolume.
ThemetroisamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION
