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SVN | CHICAGO COMMERCIAL | 940 WEST ADAMS STREET, SUITE 200, CHICAGO, IL 60607 OFFERING MEMORANDUM
VALUE ADDINVESTMENTOPPORTUNITY12757 S WESTERN AVEBLUE ISLAND, IL 60406
Amy Van HookAssociate [email protected]
Lee FfrenchSenior [email protected]
OFFERING SUMMARY
Sale Price: $799,000
Year Built: 1918
Building Size: 40,000 SF
Zoning: C-1
Market: Blue Island
Traffic Count: 8,500
PROPERTY OVERVIEWThis is a unique and well maintained building on Western Ave in the heart ofBlue Island main commerce area. The building is 4 stories with on-site parkingand public parking lot next door. The property is approximately 30% occupiedand will be sold as is. The short term leases offer any potential buyermaximum flexibility for utilizing or occupying the space.
PROPERTY HIGHLIGHTS
• 4 Story Multi-tenant commercial building
• On-Site tenant parking
• Large Free Public Parking lot next door
• Many office sizes available
• Easy Interstate Access
• Less than a half mile to Metra station
Property Summary
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 2
PROPERTY OVERVIEW
This is a unique former masonic lodge on Western Ave in theheart of Blue Island's main commerce area. The building is 4stories with on-site parking and a free public parking lot nextdoor. The property is approximately 25% occupied and will besold "as is". The short term leases offer any potential buyermaximum flexibility for utilizing or occupying the space.
The property is a prime location for professional offices. Thebuilding is located in the heart of Blue Island with in a half mileof large medical center and Blue Island Courthouse and Clerksoffice.
The current tenants cover nearly all annual expenses at only25% occupancy. Therefore, based on calculations using marketaverages if a new owner were to make improvements and leasethe building to 75% occupancy the capitalization rate would beover 10%.
LOCATION OVERVIEW
This property is located in the heart of Blue Island's maincorridor on Western Ave. It's conveniently located less than ahalf mile to the nearest Metra Train Station and there is EasyAccess to I-294 on 127th Street and I-57 via Western Ave.
Property Description
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 3
Additional Photos
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 4
Value Add InvestmentOpportunity
Regional Map
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 5
Location Maps
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 6
Value Add InvestmentOpportunity
Aerial Map
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 7
TENANTNAME
UNITNUMBER
UNITSIZE (SF)
MARKETRENT (PER SF)
ANNUALRENT
SECURITYDEPOSIT
Tax Check Storefront 1 2,500 $13,200
Sons of Solomon Banquet Hall 5,000 $26,400
Forum Suite 109 525 $6,542
Mary Lou Haynes Suite 110 500 $6,600
Wilbert Norey Suite 117 506 $5,940
American Massage Suite 204 165 $3,300
Babb Suite 206 1,100 $17,039
Glen Brooks Suite 223 488 $5,817
Derrick Coleman Suite 224 521 $5,700
Morain Metals Suite 228 255 $2,999
Ralph Hatfield Suite 229 1,017 $10,801
Kormoi Suite 235 311 $3,001
Totals/Averages 12,888 $107,339 $0
Rent Roll
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 8
Subject Property
12757 S Western Ave, Blue Island, IL 60406
$799,000Sale Price: 0.41 AcresLot Size:
1918Year Built: 40,000 SFBuilding SF:
$19.98Price PSF:
This is a unique former masonic lodge on Western Ave is in the heart of Blue Island main commerce area. The building is 4 stories with on-site parking and large free public parking lot next door. Theproperty is approximately 25% occupied and will be sold "as is". The short term leases offer any potential buyer maximum flexibility for utilization of the space.
The property is a prime location for professional offices. The building is located in the heart of Blue Island with in a half mile of large medical center and Blue Island Courthouse and Clerks office.
The current tenants cover nearly all annual expenses with only 25% occupancy. Therefore, based on calculations using market averages if a new owner were to make improvements and lease thebuilding to 75% occupancy the capitalization rate would be over 10%.
Single story retail building on Western Ave
1
12742 S Western Ave12742 S Western Ave | Blue Island, IL 60406
$450,000Sale Price: 22,651 SFLot Size:
1959Year Built: 17,166 SFBuilding SF:
$26.21Price PSF: 11/19/2013Closed:
100%Occupancy:
1
3 story retail and office building on Western Ave
2
13057 S Western Ave13057 S Western Ave | Blue Island, IL 60406
$426,000Sale Price: 94,525 SFLot Size:
1878Year Built: 26,027 SFBuilding SF:
$16.37Price PSF: 09/16/2016Closed:
100%Occupancy:
2
2 story office and retail building on Western Ave
3
12950-54 S Western Ave12950-54 S Western Ave | Blue Island, IL 60406
$260,000Sale Price: 9,148 SFLot Size:
1952Year Built: 8,000 SFBuilding SF:
$32.50Price PSF: 08/01/2013Closed:
20%Occupancy:
3
Sale Comps
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 10
2 story office and retail building on Western Ave
4
13012 S Western Ave13012 S Western Ave | Blue Island, IL 60406
$165,000Sale Price: 71,874 SFLot Size:
1992Year Built: 7,025 SFBuilding SF:
$23.49Price PSF: 12/20/2013Closed:
50%Occupancy:
4
4 story retail and office building on Western Ave
5
13031 S Western Ave13031 S Western Ave | Blue Island, IL 60406
$350,000Sale Price: 4,792 SFLot Size:
1890Year Built: 11,264 SFBuilding SF:
$31.07Price PSF: 10/28/2013Closed:
100%Occupancy:
5
Sale Comps
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 11
1
2
3
4
5
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF # OF UNITS
Value Add Investment Opportunity12757 S Western AveBlue Island, IL 60406
$799,000 40,000 SF $19.98 35
SALE COMPS PRICE BLDG SF PRICE/SF # OF UNITS CLOSE
12742 S Western Ave12742 S Western AveBlue Island, IL 60406
$450,000 17,166 SF $26.21 1 11/19/2013
13057 S Western Ave13057 S Western AveBlue Island, IL 60406
$426,000 26,027 SF $16.37 8 09/16/2016
12950-54 S Western Ave12950-54 S Western AveBlue Island, IL 60406
$260,000 8,000 SF $32.50 4 08/01/2013
13012 S Western Ave13012 S Western AveBlue Island, IL 60406
$165,000 7,025 SF $23.49 3 12/20/2013
13031 S Western Ave13031 S Western AveBlue Island, IL 60406
$350,000 11,264 SF $31.07 15 10/28/2013
PRICE BLDG SF PRICE/SF # OF UNITS CLOSE
Totals/Averages $330,200 13,896 SF $23.76 6.2
Sale Comps Summary
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 12
12757 S Western Ave, Blue Island, IL 60406SUBJECT PROPERTY
112742 S Western AveBlue Island, IL 60406
12742 S WESTERN AVE 213057 S Western AveBlue Island, IL 60406
13057 S WESTERN AVE
312950-54 S Western AveBlue Island, IL 60406
12950-54 S WESTERN AVE 413012 S Western AveBlue Island, IL 60406
13012 S WESTERN AVE
513031 S Western AveBlue Island, IL 60406
13031 S WESTERN AVE
Sale Comps Map
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 13
1 MILE 3 MILES 5 MILES
Total population 18,105 126,858 403,136
Median age 32.6 35.8 36.1
Median age (male) 30.4 34.2 33.9
Median age (female) 35.0 37.7 38.3
1 MILE 3 MILES 5 MILES
Total households 6,174 45,312 139,856
Total persons per HH 2.9 2.8 2.9
Average HH income $51,515 $59,071 $61,586
Average house value $177,803 $187,056 $210,341
* Demographic data derived from 2010 US Census
Demographics Report
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 14
POPULATION 1 MILE 3 MILES 5 MILES
Total population 18,105 126,858 403,136
Median age 32.6 35.8 36.1
Median age (male) 30.4 34.2 33.9
Median age (Female) 35.0 37.7 38.3
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 6,174 45,312 139,856
# of persons per HH 2.9 2.8 2.9
Average HH income $51,515 $59,071 $61,586
Average house value $177,803 $187,056 $210,341
* Demographic data derived from 2010 US Census
Demographics Map
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 15
940 West Adams Street, Suite 200Chicago, IL 60607T 312.676.1863C [email protected]
PROFESSIONAL BACKGROUND
Amy Van Hook serves as an associate advisor for SVN | Chicago Commercialspecializing in the sale or lease of industrial property on the west side of theChicago.
Prior to joining SVN, Van Hook served as a successful entrepreneur, key-notespeaker, consultant, and a driving force in many new innovations in thenightlife, restaurant, and hospitality industry for 20 years. She created,founded, built, and brought to sale, companies that were the first to bringonline ticketing and venue management to the world of nightlife. She hasprovided leadership and vision to teams and clients while cultivating anenvironment for creative thinking and new innovations.
Other accomplishments and awards include NCAA gymnast, ESPN FitnessCompetitor, Sterling Club Entrepreneur of the Year 2004, and Woman inBusiness Leadership award for Nevada in 2006.
Van Hook attended Louisiana State University from 1991-1995 and Universityof Illinois at Chicago from 1995 – 1997.
In her spare time, she enjoys discovering new adventures by traveling tointeresting and unique destinations.
EDUCATION
Illinois Real Estate License, July 2014 - PresentNevada and California Time Share license, May 2000 - May 2002University of Illinois at Chicago, 1995 - 1997Louisiana State University, 1991-1995
MEMBERSHIPS & AFFILIATIONS
National Association of RealtorsChicago Association of Realtors
AMY VAN HOOK
Associate Advisor
Advisor Bio & Contact 1
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 16
940 West Adams Street, Suite 200Chicago, IL 60607T 312.756.7894C [email protected]
PROFESSIONAL BACKGROUND
Lee Ffrench serves as senior advisor for SVN | Chicago Commercialspecializing in retail landlord and tenant representation services to an arrayof clients in the city of Chicago as well as the suburbs.
Prior to joining SVN, Ffrench served as senior broker with At PropertiesCommercial for seven years.
Ffrench has worked with notable landlords including RM Chin and Associatesin the transaction with high profile tenant Gyu-Kuku Restaurants, DLCManagement, MCZ Development, and CMK for their mixed-use projectAndersonville Flats. On the tenant side, she has represented national clientssuch as Verizon iTalk, a premier wireless dealer, with their expansion in theIllinois market as well as New Balance Chicago, Checks Cashed, Fast Signs,and Elements Massage. She has also represented local tenants such asTrianon Salon, Nichole Beck Salon, Ivory and Lace, and Cross Fit Defined.
EDUCATION
Ffrench has an MBA from the American Graduate School of Management(Thunderbird) and a BA from Michigan State University.
MEMBERSHIPS & AFFILIATIONS
Ffrench is a member of the International Council of Shopping Centers andWomen in Retail Leasing (WIRL).
LEE FFRENCH
Senior Advisor
Advisor Bio & Contact 2
VALUE ADD INVESTMENT OPPORTUNITY | 12757 S WESTERN AVE, BLUE ISLAND, IL 60406 SVN | Chicago Commercial | Page 17