12 UNIT MARQUETTE PARK

Transcription

1 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL Paul Cawthon Vice President paul.cawthon@svn.com Angelo Labriola Vice President angelo.labriola@svn.com David Miller Associate Advisor david.miller@svn.com SVN CHICAGO COMMERCIAL 940 WEST ADAMS STREET, SUITE 200, CHICAGO, IL SALE BROCHURE

2 Property Summary OFFERING SUMMARY Sale Price: $635,000 Number Of Units: 12 Cap Rate: 9.67% NOI: $61,429 PROPERTY OVERVIEW Corner brick 12-unit apartment building located in the Marquette Park area of Chicago, Illinois. The property features on-site laundry, intercom system and a gated entrance. The unit mix of the building consists of 10 1-bedroom/1-bath units and 2 Studio/1-bath units. The one bedroom units are approximately 650 SF and the Studios are approximately 450 SF.Many capital improvements have been completed including new porch (2015), roof (2016) and tuck-pointing (2014). Additionally, approximately 75% of the windows have been replaced. Lot Size: 6,168 SF PROPERTY HIGHLIGHTS Year Built: 1929 Building Size: 7,786 SF Zoning: RS-3 Market: Chicago Well Maintained Excellent Cash on Cash Return Value-add Opportunity On-site Laundry Corner Exposure Price / SF: $ UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 2

3 Additional Photos 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 3

4 Location Maps 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 4

5 Retailer Map (61st & Homan) 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 5

6 Financial Summary INVESTMENT OVERVIEW Price $635,000 Price per Unit $52,916 GRM 6.2 CAP Rate 9.7% Cash-on-Cash Return (yr 1) % Total Return (yr 1) $38,212 Debt Coverage Ratio 1.91 OPERATING DATA Gross Scheduled Income $102,000 Other Income $1,200 Total Scheduled Income $103,200 Vacancy Cost $5,160 Gross Income $98,040 Operating Expenses $36,610 Net Operating Income $61,429 Pre-Tax Cash Flow $29,339 FINANCING DATA Down Payment $188,750 Loan Amount $446,250 Debt Service $32,090 Debt Service Monthly $2,674 Principal Reduction (yr 1) $8, UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 6

7 Rent Roll UNIT NUMBER UNIT BED UNIT BATH LEASE START CURRENT RENT CURRENT RENT (PER SF) RECOVERY TYPE COMMENTS 3357 Studio 1st Floor 0 1 Current $ Studio 2nd Floor 0 1 Current $ st Floor 1 1 Current $ nd Floor 1 1 Current $ st Floor 1 1 Current $ nd Floor 1 1 Current $ st Floor 1 1 Current $ nd Floor 1 1 Current $ st Floor 1 1 Current $ nd Floor 1 1 Current $ st Floor 1 1 Current $ nd Floor 1 1 Current $850 Totals/Averages $8,500 $0 $0 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 7

8 Income & Expenses INCOME SUMMARY PER SF Rental Income $102,000 $13.10 Laundry Income $1,200 $0.15 Gross Income $103,200 $13.25 EXPENSE SUMMARY PER SF Real Estate Taxes (2017) $8,300 $1.07 Water $4,000 $0.51 Electric $1,200 $0.15 Gas $10,000 $1.28 Scavenger $1,310 $0.17 Insurance $4,000 $0.51 Repairs Maintenance $2,400 $0.31 Management (5%) $5,400 $0.69 Gross Expenses $36,610 $4.70 Net Operating Income $61,429 $ UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 8

9 Cawthon Bio PAUL CAWTHON Vice President PROFESSIONAL BACKGROUND Paul Cawthon serves as a Vice President for SVN Chicago Commercial. He specializes in multi-family, sale and leasing of retail, as well as commercial development property. The Cawthon- Labriola team are specialists in the Pilsen neighborhood, with 60+ transactions completed in the neighborhood over the past few years. 940 West Adams Street, Suite 200 Chicago, IL T C paul.cawthon@svn.com Prior to joining SVN he served as a senior commercial associate with the Chicago office of Inland Real Estate Brokerage, Inc. A business owner for over 15 years, Mr. Cawthon capitalizes on his entrepreneurial skills and experience by offering his clients in-depth analysis of real estate products and financial solutions for their real estate investments. During his extensive real estate career Cawthon has won real estate awards such as the Rookie of the Year award for outstanding sales achievement and Lister of the Year. He has also been featured on the front page of the Chicago Tribune's Sunday Real Estate Section. Mr. Cawthon has participated in many high profile property listings including a portfolio of Class A Lifestyle Retail Centers in the Chicagoland area valuing at over $300 million and a rare redevelopment opportunity in Chicago's Gold Coast area located just off the Magnificent Mile. He has been hired by several municipalities to advise them on redevelopment and attracting retailers to their communities. In 2016, Mr. Cawthon and Angelo Labriola were ranked in the top 7% of all SVN Advisors nationwide. Paul resides with his family in Burr Ridge and in his spare time likes to spend time with his wife, Reda and their two daughters, Sedona and Savanna. 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 9

10 Labriola Bio ANGELO LABRIOLA PROFESSIONAL BACKGROUND Vice President Angelo J. Labriola serves as a Vice President for SVN Chicago Commercial, specializing in the sale of multi-family, mixed-use, development land, retail and industrial property. Throughout his career Labriola has worked towards possessing a well-rounded expertise in all aspects of commercial real estate to better serve his clients. Prior to joining SVN, Mr. Labriola served as a Commercial Associate for Inland Real Estate Brokerage, Inc., a full-service commercial real estate firm based in Oak Brook, IL, and worked out of their satellite sales office located in Chicago, IL. He has participated in many high profile listings, including a portfolio of Class A LifeStyle Retail Centers in the Southwest & Western Suburbs of Chicago, valuing over $300 Million, and a rare redevelopment opportunity in Chicago's Gold Coast at Chicago Ave. & Rush Street, just one block from the Magnificent Mile. Mr. Labriola has been a top producer (ranked in the top 7% of all SVN Advisors nationwide) as well as part of a top producing listing team year over year. His specialties include mixed-use & multi-family assets in the near Loop neighborhoods and, along with business partner Paul Cawthon, they have currently completed over 50 transactions and have multiple more in contract on the horizon. 940 West Adams Street, Suite 200 Chicago, IL T C angelo.labriola@svn.com Mr. Labriola has is currently a part of the Chicago Association of Realtors (CAR), the Illinois Association of Realtors (IAR) and the National Association of Realtors (NAR). He earned a B.S. in Finance and a minor in Economics with an emphasis in Real Estate from DePaul University in Chicago, IL. In his spare time Mr. Labriola enjoys the game of soccer and spending time with his wife and family. EDUCATION B.S. in Finance and a minor in Economics from DePaul University - Chicago, IL MEMBERSHIPS & AFFILIATIONS National Association of Realtors (NAR) Illinois Association of Realtors (IAR) Chicago Association of Realtors (CAR) 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 10

11 Miller Bio DAVID MILLER Associate Advisor PROFESSIONAL BACKGROUND David Miller serves as an advisor for SVN Chicago Commercial. Miller joined the Cawthon Labriola Group in 2017, specializing in multifamily, and mixed-use assets throughout Chicago. Prior to joining SVN, Miller was a Commercial Associate for Hansen Realty, a boutique Chicago based commercial firm. Prior to CRE Miller previously worked in the nightlife & hospitality industry with a focus on customer relations before transitioning into commercial real estate. Working in CRE, Miller quickly closed a number of transactions, including the sale of a historic Chicago eatery. Miller is currently a member of the Chicago Association of Realtors (CAR), the Illinois Association of Realtors (IAR), and the National Association of Realtors (NAR). He earned his B.A. in Fine Arts with an emphasis in Photography from the University of Colorado, at Boulder. EDUCATION 940 West Adams Street, Suite 200 Chicago, IL T C david.miller@svn.com B.A. in Fine Arts from the University of Colorado at Boulder - Boulder, CO MEMBERSHIPS & AFFILIATIONS National Association of Realtors (NAR) Illinois Association of Realtors (IAR) Chicago Association of Realtors (CAR) 12 UNIT MARQUETTE PARK 6139 S HOMAN AVENUE CHICAGO, IL SVN Chicago Commercial Page 11