district 308 center - loopnet · district 308 center property 61 franklin street, oswego!! cover...

District 308 Center OFFERING MEMORANDUM !

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PRESENTED BY:

Les J. Robinson, Broker Baird & Warner !

District 308 Center Property 61 Franklin Street, Oswego

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Cover Page 1

Table of Contents 2

Offering Summary 3

Oswego Area Overview 4

Property Overview - District 308 Center 5

Parcel Breakdown and Development Potential 6

Tax Assessment and Due Diligence Notice 7

District 308 Center Property - Lot Photographs 8 — 12

(Traughber Junior High) Layout 13-14

(Traughber Junior High) Interior Photographs 15 - 22

Aerial Photographs and Maps 23 - 25

Confidentiality and Disclaimer 26

Table of Contents

District 308 Center 61 E. Franklin Street

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Offering Memorandum

Sale Price: $3,100,000

Improved Parcel Size: Building - 93,275 sf / Parcel - 12.6 acres or 548,768sf

Vacant Parcel Price: $5.65 per square foot

Number of Parcels: Two Improved Parcels / PIN# 03-17-387-001 / 03-17-387-002 Two Vacant Parcels / PIN# 03-17-455-015 / 03-20-201-002

Zoning Description: R1 - Single Family Residential District

Lot Dimensions: Irregular Sized - 610x132x462x140x697x317x194x140x420

Possible Uses: Residential, Commercial, Mix-use and Multifamily

Cross Streets: Franklin Street - Washington Street - US Route 71

2017 Traffic - Vehicle Count: 16,100 VPD - Route 71 between Washington and Franklin Street

2017 Property Taxes Exempt

District 308 Center Property

Offering Summary


The property is located in the Village of Oswego, which is situated in the northeast portion of Kendall County and comprises an area of approximately 15.63 square miles. It is located approximately 50 miles southwest of Chicago’s “Loop”. Oswego is a growing community that was founded in 1833 and incorporated as a village in 1881.

According to the 2010 U. S. Census, the population of Oswego was 30,355. The 2000 U.S. Census population of Oswego was reported to be 13,326 and in 1990 it was 3,875. The 2010 population estimate represented an increase of 120.35% over the 2000 U.S. Census population estimate. A more recent estimate by the village suggests the population has increased to over 33,000 residents. The median household income in Oswego was reported to be $91,330 in 2011 and the median age was 33.9 years. Oswego enjoyed rapid growth during the 1990s and early 2000s.

Single family homes comprise the majority of the housing stock of the village. Most of the single family homes have been built within the last 20 years and are situated in well planned subdivisions. Oswego also has a limited number of apartment complexes that have rentals generally ranging from approximately $650 to $1,300 per month.

Located along the Fox River, the downtown business district of Oswego is home to historic buildings and homes, as well as shops, the Oswego Public Library, and various restaurants. There are approximately 80 commercial enterprises located in downtown Oswego, employing over 350 people. The Village of Oswego launched a project to enhance and restore the downtown district within the last decade. This redevelopment project included significant infrastructure and street improvements, such as the installation of brick pavement, sidewalks, landscaping, and decorative streetlights and benches.

The general area near State Route 34 (Ogden Avenue) and Douglas Road (east of the property) has emerged as a major commercial district in the last decade. This commercial area has major national businesses such as Home Depot, Target, Walmart, etc. The largest major shopping mall near Oswego is the Fox Valley Mall, which is located in nearby Aurora. The three main shopping centers in Oswego are: 1) Oswego Commons, 2) Settlers Landing Mall, and 3) Townes Crossing Shopping Center.

There are three business parks in the Village of Oswego. The first is called the Kendall Point Business Center, which is located at U.S. Routes 34 and 30. This business park consists of approximately 300 acres and is the largest industrial park in Kendall County. The second is Stone Hill Industrial Park, which was established in 1985 and consists of approximately 60 acres. This industrial park is located south of U.S. Route 34 and west of Wolf Crossing Road. The third business park is the Highland Business Center, which is located along U.S. Route 30 and is home to Anfinsen Assembly’s 112,000 square foot industrial facility.

Oswego Area Overview

The District 308 Center Property consists of approximately 6.24 acres of vacant land (the “Vacant Parcel”) and 6.358 acres improved with a 93,274 square foot building that is the site of the former Traughber Junior High School (the “Improved Parcel”). Together, both the Vacant Parcel and the Improved Parcel measure approximately 12.598 acres (the “Entire Parcel”).

Traughber Junior High School was built in 1947 with additions in 1953, 1959, 1962, 1975 and 1998, as well as other improvements. A portion of the building on the “Improved Parcel” is currently leased for use as a Senior Center. The lease is currently on a month-to-month basis. The “Vacant Parcel” is not currently in use.

The subject property is located in the far southeast portion of the Oswego downtown area. This area is primarily residential in nature with older, modest one and two story homes.

The subject property is also located to the southeast of the Fox River. The south and eastern portions of Oswego have the highest concentration of available land for residential development. Directly west and south of the subject are several older industrial buildings at the signalized intersection of Washington Street and US Route 71. The updated Comprehensive Plan indicates that this intersection will likely get new “branding” as a gateway to the downtown area. South of Route 71, Washington becomes Plainfield Road. The subject site is the former Traughber Junior High School site. North and east of the subject can be found mostly single family residences. Directly south of the subject, across Route 71, is the Symphony at the Tillers rehabilitation facility. East of that is Oswego High School.

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Property Overview - District 308 Center


DEVELOPMENT POTENTIAL - This property is strategically located at the gateway to the downtown area of Oswego. It lies within the Village of Oswego’s recently created Downtown TIF District and may be eligible for certain TIF incentives. The Improved Parcel may be suitable for multi-family housing such as senior housing with the potential for continued operation of the Oswego Senior Center. The Vacant Parcel may be suitable for retail commercial development. Any development potential for this property, however, is subject to the Village of Oswego’s approval of a PUD(s) so that the Improved Parcel can be developed in accordance with the bidder’s plan as set forth in its bid and the Vacant Parcel can be developed in accordance with the bidder’s plan as set forth in its bid.

TRANSPORTATION - The community is bordered on the north and east by U.S. Route 30, on the south by Wolf Crossing and Collins Roads, and on the west by Orchard Road. The primary traffic arteries within the subject’s immediate area are U.S. Route 30, Douglas Road, Ogden Avenue (U.S. Route 34), U.S. Route 25, Plainfield Road, and Wolf Crossing Road. Interstate 88 (East-West Tollway) is located approximately eight miles north of the village with an interchange at Orchard Road in nearby Aurora. The Interstate 88 Tollway provides accessibility to the City of Chicago and surrounding suburban communities. The residents of Oswego have access to the Chicago “Loop” via Burlington Northern’s commuter train service, which has a station in nearby Aurora. Oswego is located approximately 36 miles southwest of O’Hare International Airport, 42 miles southwest from Midway International Airport, and approximately five miles northwest of the Aurora Airport.

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Property Information 61 Franklin Street Route 71 Parcel

PIN # 03-17-387-001 / 002 03-17-455-015

Development Name Improved Parcel Vacant Land

Zoning Code R-1 R-1

Possible Use Residential, Commercial, Residential, Commercial

Acreage 6.358 Acres 6.24 Acres

Parcel Square Footage 276,954sf 271,814sf

Building Square Footage 93,274sf NA

Asking Price $3,100,000

Price Per Square Foot $5.65

Frontage 868’ on Route 71 429’ on Washington Street

Parcel Breakdown and Development Potential

Tax Assessment and Due Diligence Notice

REAL ESTATE TAX AND ASSESSMENT DATA

Assessed valuations are reviewed and updated every four years under a quadrennial reassessment program. Real estate tax bills are normally paid in two installments, with the tax bills reflecting taxes from the previous year, i.e., 2016 taxes are paid in 2017, 2017 in 2018, etc.

Each county in Illinois is subject to an equalization factor which is applied (multiplied) against the assessed valuation to arrive at the equalized assessed valuation.

The property is comprised of three parcels for purposes of real estate taxes, to-wit: Permanent Real Estate Index Numbers 03-17-387-001; 03-17-387- 002; and 03-17-455-015. Due to the fact that the property is currently owned by Community Unit School District No. 308, it is exempt from the assessment of real estate taxes, and the District has no assessment or tax history to report.

PURCHASER’S DUE DILIGENCE

The information contained in this brochure, and any exhibits to this brochure, are intended to assist the reader in getting familiar with and visualizing the property, and its surroundings. The drawings are not intended to be used as surveys and no responsibility is assumed for their cartographic accuracy. Drawings are not intended to be exact in size, scale or detail. Areas and dimensions of the property may or may not have been physically measured. No responsibility is assumed for discrepancies which may become evident from a licensed survey of the property. The legal descriptions are for informational purposes only.

The building does have certain tunnels and pipe chases behind walls that may include pipe insulation, cementitious fittings, or suspect adhesives. However, the most recent six-month surveillance performed by the School District’s contractor reported that no exposed asbestos containing materials were noted that were damaged or in need of repair/removal. The owner has no knowledge as to the deposit of any toxic wastes on the subject property. If a prospective purchaser has any concern regarding the presence of toxic wastes or Radon, it is suggested that independent contractors or experts in these disciplines be retained by said purchaser.

All information and comments concerning the location, neighborhood, condition, or any other data for the property represents estimates and opinions of consultants and employees of the School District. To the extent possible, this information was examined for accuracy and is believed to be reliable, however, no guarantee is made relative to the information contained herein and no responsibility is assumed for its accuracy. Prospective purchasers are advised to conduct their own due diligence investigation in this regard.



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District 308 Center Property


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Improved Lot - Washington Street


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Improved Lot - Franklin Street


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Improved Lot - Rear View


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Vacant Parcels - Route 71


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Interior View - A


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Interior View - B


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Interior View - C


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Interior View - D


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Interior View - E

Interior Photo - F



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Interior View - G

Interior Photo - H



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District 308 Center Property Aerial View

General Area Map


Local Area Map


Offering Memorandum

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it form Baird & Warner. This marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Baird & Warner has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information continued in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Baird & Warner has not verified, and will not verify, any of the information contained herein, nor has Baird & Warner conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

!Baird & Warner is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporations’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Baird & Warner, its affiliates or subsidiaries , or any agent, product, service, or commercial listing of Baird & Warner, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

!ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR BAIRD

& WARNER AGENT FOR MORE DETAILS.

Confidentiality and Disclaimer

NON-ENDORSEMENT NOTICE

district 308 center - loopnet · district 308 center property 61 franklin street, oswego!! cover...

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