value add investment opportunity -...

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 |

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


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Regional Map


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Aerial Map


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


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:


$26.21Price PSF: 11/19/2013Closed:

100%Occupancy:

1

3 story retail and office building on Western Ave

2





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




20%Occupancy:

3

Sale Comps


2 story office and retail building on Western Ave

4





50%Occupancy:

4

4 story retail and office building on Western Ave

5





100%Occupancy:

5

Sale Comps


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


$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


$165,000 7,025 SF $23.49 3 12/20/2013


$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


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


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


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


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


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


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