1555 N. Naperville Wheaton Rd. Naperville, IL
Offering Memorandum
Bob Petrich Boardwalk CRE, President
direct: 708-917-3333
[email protected] www.boardwalkcre.com
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
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.
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
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.
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
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.
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
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.
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.
2nd Floor Plan
Plat Map
Demographics
Sales Comps
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.
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.
708-917-3333
boardwalkcre.com
For additional information on this property please contact:
Bob Petrich
President
Boardwalk Commercial Real Estate