pad available for hotel development...vernon hills, il 60061 john mcdermott executive director...
TRANSCRIPT
SVN | CHICAGO COMMERCIAL | 940 WEST ADAMS STREET, SUITE 200, CHICAGO, IL 60607 SALE BROCHURE
PAD AVAILABLEFOR HOTELDEVELOPMENT122 HAWTHORN CENTERVERNON HILLS, IL 60061
John McDermottExecutive [email protected]
Daniel [email protected]
OFFERING SUMMARY
Sale Price: $20.00 / SF
Lot Size: 1.5 Acres
Zoning: B1
County: Lake
PROPERTY OVERVIEWJ. C. Penney has elected to offer for sale an out parcel at their premier malllocation in Vernon Hills, Illinois. This is a rare opportunity for a developer tobenefit from the mall's superior location, ingress and egress, visibility andsignificant demand generators related to the mall in both retailers and serviceproviders.
Outstanding parking via reciprocal agreement makes this offering ideal forlimited service hotels, extended stay providers or other uses as may bedetermined feasible both by J. C. Penney and the city of jurisdiction.
PROPERTY HIGHLIGHTS
• Intersection of IL-21 and IL-60, just 2.5 miles west of I-94
• Lake County population is 703,520 with a Median Household Income of$79,886 and an average home value of $246,700
• Directly east of a new $200 Million mixed-use center called Mellody Farm
Property Summary
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
Aerial Photos
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 3The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
SURROUNDING AREA
• Vernon Hills is located in Lake County about 37.1 miles from
Chicago, the largest city in IL.
• The Village is largely funded through sales tax revenue; the
Village does not collect a property tax.
• Transportation: Vernon Hills has a station on Metra's North
Central Service, which provides daily rail service between
Antioch, Illinois and Chicago (at Union Station). It is also
serviced by Pace buses.
• Parks: 24 neighborhood parks which include Century Park
(shelter & Boat Dock) and Century Park North (Pavilion, SLed
Hill & Ice Rink).
• Century Park Expansion: work includes eliminating the
exiting basketball court/stage area, building a new stage up
for better viewing, improving paths and lighting, and
constructing a public restroom. Work is expected to start late
summer of 2018.
• The Village of Vernon Hills has a population of 26,895 as of
July 1, 2018. Vernon Hills ranks in the upper quartile for
Population Density and Diversity Index when compared to
other cities, towns and Census Designated Places in Illinois.
• The average HH income is $124,531 and the median age is
38.4 years young.
• Shopping Centers in Vernon Hills include: Fashion Square
Shopping Center, Rivertree Shopping Center, and Hawthorn
Center Mall Shopping Center.
• Tourist attractions include: Cuneo Museum & Gardens,
Hawthorn Lakes, and 800 4 Balloons.
• Notable locations include: Continental Executive Business
Park, Corporate Woods Business Park, Vernon Hills Golf
Course, Indian Creek Village Hall, and Countryside Fire
Department Station.
Vernon Hills, IL
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
Location Maps
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 3 MILES 5 MILES
Total population 7,431 54,942 136,336
Median age 40.6 38.2 39.1
Median age (Male) 39.1 36.9 38.1
Median age (Female) 42.2 39.3 40.0
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 3,110 20,083 48,313
# of persons per HH 2.4 2.7 2.8
Average HH income $95,824 $119,270 $130,639
Average house value $334,919 $427,872 $470,130
* Demographic data derived from 2010 US Census
Demographics Map
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
940 West Adams Street, Suite 200Chicago, IL 60607T 312.626.3030C [email protected] #475.172622CalDRE #01027603
PROFESSIONAL BACKGROUND
John McDermott serves as Executive Director of Sales and Director of itsIndustrial Practice for SVN Chicago Commercial in Chicago, Illinois. John is amember of the Executive Committee of the SVN Asset Recovery Team(SVNART), serves as its Southern California Regional Director and is also amember of the SVNIC Advisory Board. John also trains SVN Advisorsnationwide. His commercial real estate experience includes the ownershipand development of condominiums, mobile home parks, neighborhoodanchored retail centers, recreational vehicle parks, and apartments with 45years of real estate and finance experience.
Prior to joining SVN, McDermott served as a broker, manager, and executivein California, Arizona, New York, Philadelphia, and Washington D.C for Marcus& Millichap. Previously, McDermott served as the manager of nationwidelending for First Federal Savings of Arizona where he was responsible forlending, loan administration, secondary marketing, foreclosure and trusteeservices, REO administration, data processing and mortgage banking.
In addition, McDermott was the founder and chief credit officer for a De NovoSavings and Loan in Phoenix, Arizona (Sentinel Savings). McDermott is amember of the International Council of shopping Centers (ICSC) and theNational Association of Industrial and Office Properties (NAIOP) and ismember of that organization’s Editorial Board for its “Development”magazine. McDermott earned a Bachelor of Science in real estate andfinance with a minor in psychology from Arizona State University in Tempe,Arizona.
EDUCATION
B.S. Real Estate and FinanceArizona State University
MEMBERSHIPS & AFFILIATIONS
NAIOPICSCEditorial Board - "Development Magazine"SVNIC Advisory BoardSVNART Executive Committee
JOHN MCDERMOTT
Executive Director
Advisor Bio & Contact
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
940 West Adams Street, Suite 200Chicago, IL 60607T 312.756.7337C [email protected]
PROFESSIONAL BACKGROUND
Daniel Vanchieri has been active in the financial and real estate industry formore than 20 years. As an advisor for SVN and a licensed real estate broker,his focus is primarily on the sale of industrial properties in the Chicagolandand surrounding areas; specializing in properties ranging from the 5,000 to100,000 square feet.
Daniel is enthusiastic in helping owner/users maximize their true objectives.He is always putting the client's interests above his own, insuring strong,long term relationships with the people with whom he works. Danielunderstands that his business hinges on his reputation and doing what isbest for his clients. His background is diverse with many years of experiencein construction, property management, and operations.
As a successful trader for 18 years at the Chicago Board of Trade, Danieldeveloped his acute skills as a negotiator and deal maker. Through the manysuccessful opportunities he created for both buyers and sellers, he provedhis attention to detail to be unparalleled. As a result, he has a uniqueunderstanding on a variety of issues that owners/users face.
Daniel is a graduate of DePaul University with a degree in finance and on apersonal note, Daniel keeps very active with his wife and four children. Hewas a founding member and treasurer of Cass 63 Foundation for EducationalExcellence. In addition, he was on the parish counsel at Our Lady of MountCarmel Church, serving as Director of Finance and Chairman of the BuildingCommittee
DANIEL VANCHIERI
Advisor
Advisor Bio & Contact
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
Disclaimer
PAD AVAILABLE FOR HOTEL DEVELOPMENT | 122 HAWTHORN CENTER, VERNON HILLS, IL 60061 SVN | Chicago Commercial | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and
completeness. All SVN® offices are independently owned and operated.
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of theproperty within and is not to be used for any other purpose. This information should not, under any circumstances, bephotocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or usedfor any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed inthis proposal, and no other person is authorized by the Owner to provide any information or to make anyrepresentations other than contained in this Offering Brochure. If the person receiving these materials does not chooseto pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy orcompleteness of the information contained herein, and nothing contained herein is or shall be relied upon as a promiseor representation as to the future representation of the Property. This Offering Brochure may include certain statementsand estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there canbe no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and allliability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, orany other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled torely solely on those representations and warranties that may be made to it in any final, fully executed and delivered RealEstate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not lookto Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates,for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conducttheir own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expresslyreserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property andexpressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any timewith or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed RealEstate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, aprospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and theSVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchasershould not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate PurchaseAgreement shall bind the property and each prospective purchaser proceeds at its own risk.