1190 south naper boulevard naperville, il...

No warranty or representation is made to the accuracy of the foregoing information Terms of sale or lease and availability are subject to change or withdrawl without notice

5186 Carroll Canyon Road Suite A San Diego CA 92121 (858) 453-9990wwwlee-associatescom copy 2014 Lee amp Associates DRE LIC NO 01772022

FOR MORE INFORMATION CONTACTRICH MURDOCK SIOR-CCIM

8587139306 | Lic No 00634628rmurdocklee-associatescom

FOR SALE | FREE STANDING MEDICAL BUILDING1190 SOUTH NAPER BOULEVARD | NAPERVILLE IL 60540

ASKING PRICE - $2920000

PROPERTY FEATURESbull plusmn6175SquareFeetbull plusmn104Acresbull Builtin1986Renovatedin2012bull CurrentUseisasaMedicalCareFacilitybull ZoningR1APUDbull 31ParkingSpacesbull LocationHighDemandSuburbanwith

CommercialSupportPRICING OVERVIEWbull OfferingPrice$2920000bull OfferingCapRate60bull CurrentAnnualRent$175370bull TenantMedSpringManagement

ofIllinoisLLCbull GuarantorColoradoRiverGroupLLCbull PropertyTypeUrgentCare

MedicalServices





100fee-simpleinterestintheMedSpringUrgentCare center located at 1190 Naper BoulevardNaperville Illinois The property is located on104acreswithanapproximaterentablesquarefootage of 6175 square feet and is locatednear the high-traffic signalized intersectionof Naper Boulevard and Hobson Road Thepropertyissurroundedbyhigh-profileresidentalcommunitiesanda strongnationalcredit retailtenantbaseTheMedSpringUrgentCarefacilityisamedicalcenter that provides immediate treatment fora wide range of medical services includingvaccinationsdrugscreensandsportsphysicalsTheproperty is locatedapproximately 30mileswest of downtown Chicago just west of I-355and south I-88 It serves Naperville and the

notablecommunitiesofBolingbrookWoodridgeDarienWarrenvilleAuroraDownersGroveLisleHarbourSpringsHomesteadLemontWestmontWillowbrookWheatonandClarendonHillsMedSpringoperatesunderanew ten (10)yearbase leasetermThe leasefeaturestwo(2) five(5) year renewal options and has favorablerental escalations of 10 paid every five yearsthroughout the primary lease term and optionperiodsThe property is located within a densecommercial area which serves as the retailcenter for the surrounding affluent residentialneighborhoods The population within a five(5)mile radius isapproximately255000withanaveragehouseholdincomeinexcessof$150000withinaone(1)mileradius

ABOUT THE PROPERTY









INVESTMENT HIGHLIGHTSbull Rare and Desirable Suburban Medical OfficeRetail-MedSpringUrgent

Careatopproviderofconvenientandreliableimmediatecarebull Brand New Long Term Base Lease Term-Ten(10)yearbaseleasewith

two(2)five(5)yearoptionperiodsbull Attractive Rental Escalations-10increaseseveryfive(5)years(base

termandrenewaloptionperiods)bull NNN Lease Structure-minimallandlordresponsibilitytothestructure

roofandparkingareas(tenantresponsibleforrealestatetaxesinsuranceCAM)

bull Excellent Demographics-Averagehouseholdincomeinexcessof$150000withinone(1)mileandinexcessof$121000withinthree(3)miles

bull Incredible Density and Ease of Access-Approximately252000peoplewithina5-mileradiuseasilyaccessibleoffNaperBoulevard(30100VPD)between75thStreetandHobsonroadhighprofileneighborhoodlocationsurroundedby$500000+residentialhomes

bull Exceptional Surrounding National Tenants-ToincludeUSBankJewel-OscoDominicksMcDonaldsPNCBankStarbucksDunkinDonutsandBurgerKingamongstmanyothers






ASKING PRICE - $2920000LEASE ABSTRACT amp SUMMARYRentCommencement December212012RentLeaseExpiration December312022BaseLeaseTerm 10YearsLeaseTermRemaining 10YearsRenewalOptions 25-YearOptions(180

daysnoticetoexercise)

AnnualBaseRent $175370AnnualRentPSF $2840LeaseTermIncreases 10Every5-Years

(BaseTermampOptions)LeaseType NNNLandlordResponsibility Landlordis

responsibleformaintenanceandrepairofroofstructureloadingdocksparkingareassidewalkssignageandlandscapedareas

RightofFirstRefusal NoneFinancialReporting Within15business

daysafterLandlordsrequestTenantandGuarantorshalldelivertoLandlordmostrecentfianancialstatements(permittedtwiceper12months)

AdminFee 25ofBaseRent Tenant reimburses all operating expenses including taxesinsuranceandCAMonamonthlybasisas112ofannualestimatedexpenseswithannualreconciliationExpensesnottoincreasebymore than 5 on a non-cumulative basis for each lease year(exclusiveoftaxesutilitiesinsuranceandsnowremoval)Landlordcollectsamanagement feeof 25ofbase rent notincludedinlistpricecaprate

RENT SCHEDULE

Lease YearAnnual Base Rent (PSF)

Monthly Base Rent

1-5 $175370($2840) $14614176-10 $192907($3124) $160755811-15(Option1) $212173($3436) $176810816-20(Option2) $233415($3780) $1945125





MedSpring Urgent Care is anAustin-basedoperatorofurgentcare centers With locations inAustin Houston and ChicagoMedSpring distinguishes itselfwith a boutique atomosphereThe clinics include waitingrooms with flat-screen TVsfree wi-fi and complimentarybeveragesandsnacks

MedSprings immediate carephysicians provide treatmentfor a wide range of illnessesincluding infections flu strepthroat allergies and stomachpain In addition MedSpringtreatsinjuriesthatrequireurgentattentionsuchasburnsstrainssprainsbrokenbonesandcuts

requiringstitchesOtherservicesinclude vaccinations drugscreens and sports physicalsEach one of their locations isequippedwithdigitalx-rayandlabequipmenton-site

With physicians on-site from 9am to 9 pm daily MedSpringoffers quick and convenienturgentcareoftenatafractionof the cost of a trip to the ERandmanyvisitslastlessthananhour

MedSpring is owned by CRGOperating Co LLC whichis made up of MedSpringemployees and outsidepartners The company is led

by President and CEO HeathSchiesser and Chief MedicalOfficer Jon L Belsher MDThe team also includes AstridStrackeseniorvicepresidentofoperationsStrackewhoworkedwith Marriott Hotels amp ResortsbeforejoiningMedSpringlendsher hospitality expertise toMedSpringscustomerservice

MedSpring currently has three(3) locations in the Chicagoarea MedSpring encouragespatientreviewsontheirwebsite(medspringcom) and poststhe most recent reviews andratingsThefulllistofMedSpringlocations and their averageratingsareasfollows

TENANT OVERVIEW

Location Rating Location RatingCHICAGOIL HOUSTONTXArlingtonHeightsIL 49of50 KatyTX 49of50NapervilleIL 49of50 KingwoodTX 49of50LincolnParkLakeviewChicagoIL MemorialAreaHoustonTX 49of50

AUSTINTX RiverOaksHoustonTX 48of50AndersonMillNorthAustinTX 49of50 SugarLandTX 49of50CedarParkTX 49of50CentralAustinTX 49of50RoundRockTX 49of50SouthCongressAustinTX 49of50UTAreaAustinTX 48of50







Naperville is a city inDuPage and Will countiesin Illinois it was voted thesecond best place to liveintheUnitedStatesin2006In a 2010 study Napervillewas named thewealthiestcity in the Midwest andeleventhinthenationwithapopulationover 75000Asofthe2010censusthecityhad a total population of141857 It is thefifth largestcity in the state behindChicago neighboringAuroraRockfordandJolietApproximately 100000NapervilliansliveinDuPagecountywhileabout45000reside inWillcountyOncea quaint farming townNaperville has evolvedinto an affluent city hometo numerous corporateheadquarters

Napervilleislocatedwithinthe Illinois Technologyand Research CorridorEmployers contributing tothe population explosionof the 1980s and 1990sincluded Bell Labs andWestern Electric (nowAlcatel-Lucent) AmocoResearch LaboratoriesNalco Nicor and EdwardHospital Tellalabs has itscorporate headquarters

in Naperville andConAgrasGrocerydivisionbranch office employsapproximately400workersOfficeMax moved itscorporate headquartersthere in 2006 Kraft Foodsopened their Napervillesite in 1968 and employsover 200 individuals at theplant Naperville is alsohometo theheadquartersof Dukane Precast andtheir double-wall precastconcrete manufacturingplant Fermilab andArgonne NationalLaboratoryarealsolocatednearbyNapervillewasoneof the ten fastest growingcommunities in the UnitedStatesduringthe1990s

TheNapervilleareaishometo many popular retailersrestaurants and shoppingcenterssuchasdowntownNaperville FreedomCommons SpringbrookPrairie Pavillion and theroute59andOgdenAvenuecorridors Naperville hasover eleven automobiledealershipsandinOctober2006 the city opened thecountrysfirstpublic-privateautomobile test tracksituatedona9-acrecourseatacostof$15million

LOCATION OVERVIEW

Employer of

EmployeesEdwardHospital 4288Nicor 3700Alcatel-Lucent 3600IndianPrairieSchoolDistrict204

3184

NapervilleCommunitySchoolDistrict203

2575

BPAmerica 1750OfficeMax 1500Tellabs 1200Nalco 1000CityofNaperville 998

NAPERVILLE PRINCIPAL EMPLOYERS







Demographics

SITE



South Naper Boulevard (30100 VPD)

(16100 VPD)





Demographics







Executive Summary1190 S Naper Blvd Naperville Illinois 60540 Prepared by Richard MurdockRichardRings 1 3 5 mile radii Latitude 41755147324

Longitude -8811539485

1 mile 3 miles 5 milesPopulation

2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005

2013-2018 Annual Rate 000 024 0282013 Male Population 486 490 4902013 Female Population 514 510 5102013 Median Age 465 409 381

In the identified area the current year population is 246385 In 2010 the Census count in the area was 245976 The rate of change since2010 was 005 annually The five-year projection for the population in the area is 249830 representing a change of 028 annually from2013 to 2018 Currently the population is 490 male and 510 female

Median Age

The median age in this area is 381 compared to US median age of 373

Race and Ethnicity2013 White Alone 821 808 717

2013 Black Alone 16 39 922013 American IndianAlaska Native Alone 01 01 022013 Asian Alone 140 116 1202013 Pacific Islander Alone 00 00 002013 Other Race 05 14 422013 Two or More Races 18 22 262013 Hispanic Origin (Any Race) 30 54 116

Persons of Hispanic origin represent 116 of the population in the identified area compared to 174 of the US population Persons ofHispanic Origin may be of any race The Diversity Index which measures the probability that two people from the same area will be fromdifferent raceethnic groups is 573 in the identified area compared to 621 for the US as a whole

Households

2000 Households 3287 33148 833212010 Households 3323 34536 890562013 Total Households 3305 34704 894762018 Total Households 3317 35250 909432000-2010 Annual Rate 011 041 0672010-2013 Annual Rate -016 015 0152013-2018 Annual Rate 007 031 0332013 Average Household Size 293 260 272

The household count in this area has changed from 89056 in 2010 to 89476 in the current year a change of 015 annually The five-yearprojection of households is 90943 a change of 033 annually from the current year total Average household size is currently 272compared to 272 in the year 2010 The number of families in the current year is 63919 in the specified area

October 27 2014

copy2014 Esri of 2

Data Note Income is expressed in current dollarsSource US Census Bureau Census 2010 Summary File 1 Esri forecasts for 2013 and 2018 Esri converted Census 2000 data into 2010 geography

Demographics









1 mile 3 miles 5 milesMedian Household Income

2013 Median Household Income $126130 $96201 $831362018 Median Household Income $138216 $106139 $947822013-2018 Annual Rate 185 199 266

Average Household Income

2013 Average Household Income $160322 $122050 $1071452018 Average Household Income $189727 $141631 $1229762013-2018 Annual Rate 343 302 279

Per Capita Income

2013 Per Capita Income $54515 $46222 $392842018 Per Capita Income $64680 $53738 $451472013-2018 Annual Rate 348 306 282

Households by Income

Current median household income is $83136 in the area compared to $51314 for all US households Median household income isprojected to be $94782 in five years compared to $59580 for all US households

Current average household income is $107145 in this area compared to $71842 for all US households Average household income isprojected to be $122976 in five years compared to $83667 for all US households

Current per capita income is $39284 in the area compared to the US per capita income of $27567 The per capita income is projected tobe $45147 in five years compared to $32073 for all US households Housing

2000 Total Housing Units 3326 33988 860142000 Owner Occupied Housing Units 3099 26115 635822000 Owner Occupied Housing Units 188 7033 197392000 Vacant Housing Units 39 840 2693

2010 Total Housing Units 3416 36174 934452010 Owner Occupied Housing Units 3195 26569 669972010 Renter Occupied Housing Units 128 7967 220592010 Vacant Housing Units 93 1638 4389



Currently 707 of the 93754 housing units in the area are owner occupied 248 renter occupied and 46 are vacant Currently inthe US 564 of the housing units in the area are owner occupied 323 are renter occupied and 113 are vacant In 2010 therewere 93445 housing units in the area - 717 owner occupied 236 renter occupied and 47 vacant The annual rate of change inhousing units since 2010 is 015 Median home value in the area is $277313 compared to a median home value of $177257 for the USIn five years median value is projected to change by 270 annually to $316766

October 27 2014

copy2014 Esri Page 2 of 2


Demographics







100fee-simpleinterestintheMedSpringUrgentCare center located at 1190 Naper BoulevardNaperville Illinois The property is located on104acreswithanapproximaterentablesquarefootage of 6175 square feet and is locatednear the high-traffic signalized intersectionof Naper Boulevard and Hobson Road Thepropertyissurroundedbyhigh-profileresidentalcommunitiesanda strongnationalcredit retailtenantbaseTheMedSpringUrgentCarefacilityisamedicalcenter that provides immediate treatment fora wide range of medical services includingvaccinationsdrugscreensandsportsphysicalsTheproperty is locatedapproximately 30mileswest of downtown Chicago just west of I-355and south I-88 It serves Naperville and the

notablecommunitiesofBolingbrookWoodridgeDarienWarrenvilleAuroraDownersGroveLisleHarbourSpringsHomesteadLemontWestmontWillowbrookWheatonandClarendonHillsMedSpringoperatesunderanew ten (10)yearbase leasetermThe leasefeaturestwo(2) five(5) year renewal options and has favorablerental escalations of 10 paid every five yearsthroughout the primary lease term and optionperiodsThe property is located within a densecommercial area which serves as the retailcenter for the surrounding affluent residentialneighborhoods The population within a five(5)mile radius isapproximately255000withanaveragehouseholdincomeinexcessof$150000withinaone(1)mileradius

ABOUT THE PROPERTY






























RENT SCHEDULE


Monthly Base Rent

1-5 $175370($2840) $14614176-10 $192907($3124) $160755811-15(Option1) $212173($3436) $176810816-20(Option2) $233415($3780) $1945125












TENANT OVERVIEW













LOCATION OVERVIEW

Employer of


3184


2575









Demographics

SITE




(16100 VPD)





Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014

copy2014 Esri of 2


Demographics






























RENT SCHEDULE


Monthly Base Rent

1-5 $175370($2840) $14614176-10 $192907($3124) $160755811-15(Option1) $212173($3436) $176810816-20(Option2) $233415($3780) $1945125












TENANT OVERVIEW













LOCATION OVERVIEW

Employer of


3184


2575









Demographics

SITE




(16100 VPD)





Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics














TENANT OVERVIEW













LOCATION OVERVIEW

Employer of


3184


2575









Demographics

SITE




(16100 VPD)





Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics











LOCATION OVERVIEW

Employer of


3184


2575









Demographics

SITE




(16100 VPD)





Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics







Demographics

SITE




(16100 VPD)





Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics







Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics










2000 Population 10486 92870 236332

2010 Population 9960 92779 245976

2013 Population 9835 92732 246385

2018 Population 9834 93844 249830

2000-2010 Annual Rate -051 -001 040

2010-2013 Annual Rate -039 -002 005



Median Age





Households



October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics













Per Capita Income











October 27 2014



Demographics



1190 south naper boulevard naperville, il...

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