OFFERING MEMORANDUM Morse Ave Sacramento, CA Morse Plaza

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1 OFFERING MEMORANDUM 1960 Morse Ave Sacramento, CA Morse Plaza

Morse Plaza CONTENTS 01 Executive Summary Executive Summary 5 Unit Mix Summary 6 Location Summary 7 02 Property Description Property Features 9 Aerial Map 10 Parcel Map 11 Common Amenities 12 Unit

2 Morse Plaza CONTENTS 01 Executive Summary Executive Summary 5 Unit Mix Summary 6 Location Summary 7 02 Property Description Property Features 9 Aerial Map 10 Parcel Map 11 Common Amenities 12 Unit Amenities 13 Property Images Rent Comps Rent Comparables Summary 17 Rent Comparables Map On Market Comps On Market Comparables Summary 24 On Market Comparables Charts 26 On Market Comparables Map Sale Comps Sale Comparables Summary 29 Sale Comparables Charts 31 Sale Comparables Map Financial Analysis Income & Expense Analysis 34 Multiyear Cash Flow Assumptions 35 Cash Flow Analysis 36 Disposition Sensitivity Analysis Demographics Demographics 40 Demographic Charts 41 Timothy Swanston Senior Vice President Lic: Swanston@ncc1031.com We obtained the following information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. It is submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We include projections, opinions, assumptions or estimates for example only, and they may not represent the current or future performance of the property. You and your tax and legal advisors should conduct your own investigation of the property and transaction.

3 Morse Plaza Confidentiality and Disclaimer 03 CONFIDENTIALITY AND DISCLAIMER: The information contained in the following offering memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from North Coast Commercial Inc and it should not be made available to any other person or entity without the written consent of North Coast Commercial Inc. By taking possession of and reviewing the information contained herein the recipient agrees to hold and treat all such information in the strictest confidence. The recipient further agrees that recipient will not photocopy or duplicate any part of the offering memorandum. If you have no interest in the subject property, please promptly return this offering memorandum to North Coast Commercial Inc. This offering memorandum has been prepared to provide summary, unverified financial and physical 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. North Coast Commercial Inc 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 of absence of contaminating substances, PCBs or asbestos, the compliance with local, state and federal regulations, the physical condition of the improvements thereon, or 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 contained in this offering memorandum has been obtained from sources we believe reliable; however, North Coast Commercial Inc has not verified, and will not verify, any of the information contained herein, nor has North Coast Commercial Inc 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. Prospective buyers shall be responsible for their costs and expenses of investigating the subject property. PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONTACT NORTH COAST COMMERCIAL INC FOR MORE DETAILS. Copyright 2018 CREOP, LLC. All Rights Reserved.

4 Morse Plaza Executive Summary Executive Summary Offering Summary Unit Mix Summary Location Summary MORSE PLAZA

Morse Plaza Executive Summary 05 OFFERING SUMMARY ADDRESS COUNTY MARKET SUBMARKET 1960 Morse Ave Sacramento CA 95825 Sacramento Sacramento Arden Arcade BUILDING SF 21,331 LAND SF 42,253 NUMBER OF

5 Morse Plaza Executive Summary 05 OFFERING SUMMARY ADDRESS COUNTY MARKET SUBMARKET 1960 Morse Ave Sacramento CA Sacramento Sacramento Arden Arcade BUILDING SF 21,331 LAND SF 42,253 NUMBER OF UNITS 24 YEAR BUILT 1971 YEAR RENOVATED 2016 APN OWNERSHIP TYPE Fee Simple DEMOGRAPHICS 1 MILE 3 MILE 5 MILE 2017 Population 17, , , Median HH Income $42,915 $51,348 $50, Average HH Income $61,129 $78,434 $73,487 FINANCIAL SUMMARY OFFERING PRICE $3,600,000 PRICE PSF $ PRICE PER UNIT $150,000 OCCUPANCY % NOI (CURRENT) $165,692 NOI (Pro Forma) $208,151 CAP RATE (CURRENT) 4.60 % CAP RATE (Pro Forma) 5.78 % PROPOSED FINANCING LOAN TYPE DOWN PAYMENT $1,260,000 LOAN AMOUNT $2,340,000 INTEREST RATE 4.50 % ANNUAL DEBT SERVICE $142,278 LOAN TO VALUE 65 % Morse Plaza Apartments is a well maintained, 24 unit apartment community. The property consists of (16) 2 Bedroom 1 Bathroom units approximately 875 Sq. Ft & (8) 1 bedroom 1 Bathroom Units approximately 725 Sq. Ft. The property was built in 1971 and boasts updated interior units with vinyl plank flooring, granite counter tops, and updated kitchen cabinets. The building has many capital improvements including a new roof, 100 gallon water heater, swimming pool, patio area, automatic parking gate, exterior paint, exterior lighting, and updated parking lot with a fresh slurry coat. Each unit comes with central heat and air as well as private patios. Morse Plaza has an on site laundry room, covered carport parking, and a remodeled office. The purchaser of Morse Plaza will step into a value add opportunity by simply raising rents to market, in one of the nation's hottest rental markets. Rent Comparable's in the neighborhood strongly suggest that current rents for the apartments at Morse Plaza are under market.

16 875 $1,133 $1.29 $18,128 $1,275 $1.46 $20,400 1 bd / 1 ba 8 775 $933 $1.

6 Morse Plaza Unit Mix Summary 06 Actual Market Unit Mix # Units Square Feet Current Rent Rent PSF Monthly Market Rent Market Rent Market Income Income PSF 2 bd / 1 ba $1,133 $1.29 $18,128 $1,275 $1.46 $20,400 1 bd / 1 ba $933 $1.20 $7,464 $1,060 $1.37 $8,480 Totals/Averages $1,066 $1.26 $25,592 $1,203 $1.43 $28,880

Morse Plaza Location Summary 07 Morse Plaza is located directly across from Kaiser Morse Hospital & next to Kaiser Medical office Building. The property is 2 miles from Arden Fair Mall and Cal Expo.

7 Morse Plaza Location Summary 07 Morse Plaza is located directly across from Kaiser Morse Hospital & next to Kaiser Medical office Building. The property is 2 miles from Arden Fair Mall and Cal Expo. The major shopping center for Sacramento consists of hundreds of stores, services, restaurants and eateries. Morse Plaza is centrally located in the heart of Arden- Arcade, between Alta Arden and Cottage Avenue, and only four miles from CSU Sacramento. The Property is in close proximity to the new Howe Bout Arden shopping center which includes Starbucks, Jamba Juice, Chili's, Nordstrom Rack, Homegoods, and Cinemark Movie Theater. Morse Plaza is just minutes from both Highway 50 and Highway 80. These provide the fastest route to the heart of Sacramento, and easy thoroughfare to the Bay Area, Lake Tahoe, and beyond. Regional Map

8 Morse Plaza Property Description Property Description Property Features Aerial Map Parcel Map Additional Maps Amenities Property Images MORSE PLAZA

Morse Plaza Property Features 09 Site Description NUMBER OF UNITS 24 BUILDING SF 21,331 LAND SF 42,253 YEAR BUILT 1971 YEAR RENOVATED 2016 # OF PARCELS 1 MECHANICAL HVAC WATER HEATER UTILITIES WATER

9 Morse Plaza Property Features 09 Site Description NUMBER OF UNITS 24 BUILDING SF 21,331 LAND SF 42,253 YEAR BUILT 1971 YEAR RENOVATED 2016 # OF PARCELS 1 MECHANICAL HVAC WATER HEATER UTILITIES WATER TRASH GAS ELECTRIC RUBS CONSTRUCTION EXTERIOR ROOF Central heat and air units mounted on roof New Central Hot water heater installed 2017 Landlord Landlord Landlord Tenant Tenant Stucco New T.P.O. Single ply roof system and gutters installed 2016

10 Morse Plaza Aerial Map 10

11 Morse Plaza Parcel Map 11

12 Morse Plaza Common Area Amenities Common Amenities On Site Laundry Room

13 Morse Plaza Unit Amenities Unit Amenities Community Pool & Deck New Security Gate

14 Morse Plaza Property Images 14 Water Efficient Landscaping BBQ Area Office Vinyl Plank Flooring

15 Morse Plaza Property Images 15 Granite Counter Tops Large Bedrooms Updated Vanities Updated Office

16 Morse Plaza Rent Comps Rent Comps Rent Comparables Rent Comparables Map MORSE PLAZA

Morse Plaza Rent Comparables Summary 17 1 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba 0 630 $1,150 $1.82 2 bd + 1 ba 0 818 $1,360 $1.

17 Morse Plaza Rent Comparables Summary 17 1 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba $1,150 $ bd + 1 ba $1,360 $1.66 Total/Avg $1,255 $1.74 Unit Mix Breakdown Artisan Square 1530 Fulton Ave, Sacramento, CA Property Summary UNITS 204 YEAR BUILT 1974 Comparables Rent Analysis 1 bd / 1 ba $933 - $1,150 2 bd / 1 ba $1,133 - $1,400

Morse Plaza Rent Comparables Summary 18 2 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba 0 628 $1,150 $1.83 2 bd + 1 ba 0 825 $1,400 $1.

18 Morse Plaza Rent Comparables Summary 18 2 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba $1,150 $ bd + 1 ba $1,400 $1.69 Total/Avg $1,275 $1.76 Unit Mix Breakdown Alpine Terrace 1257 Fulton Ave, Sacramento, CA Property Summary UNITS 99 YEAR BUILT 1964 OCCUPANCY % Comparables Rent Analysis 1 bd / 1 ba $933 - $1,150 2 bd / 1 ba $1,133 - $1,400

47 Total/Avg 0 775 $1,150 $1.49 Unit Mix Breakdown Plumwood 2020 Wright St.

19 Morse Plaza Rent Comparables Summary 19 3 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba $1,050 $ bd + 2 ba $1,250 $1.47 Total/Avg $1,150 $1.49 Unit Mix Breakdown Plumwood 2020 Wright St., Sacramento, CA Property Summary UNITS 52 YEAR BUILT 1986 OCCUPANCY % Comparables Rent Analysis 1 bd / 1 ba $933 - $1,150

Morse Plaza Rent Comparables Summary 20 4 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba 0 700 $975 $1.39 2 bd + 1 ba 35 825 $1,170 $1.

20 Morse Plaza Rent Comparables Summary 20 4 Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Asking Rent Rent per SF 1 bd + 1 ba $975 $ bd + 1 ba $1,170 $1.41 Total/Avg $1,073 $1.40 Unit Mix Breakdown Kessington House 2440 Cottage Way, Sacramento, CA Property Summary UNITS 60 YEAR BUILT 1987 OCCUPANCY % Comparables Rent Analysis 1 bd / 1 ba $933 - $1,150 2 bd / 1 ba $1,133 - $1,400

Morse Plaza Rent Comparables Summary 21 S Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Rent Summary Rent per SF 2 bd / 1 ba 16 875 $1,133 $1.29 1 bd / 1 ba 8 775 $933 $1.

21 Morse Plaza Rent Comparables Summary 21 S Unit Mix and Rent Schedule Unit Mix # of Units Square Feet Rent Summary Rent per SF 2 bd / 1 ba $1,133 $ bd / 1 ba $933 $1.20 Totals/Averages $1,066 $1.26 Unit Mix Breakdown Morse Plaza 1960 Morse Ave, Sacramento, CA Property Summary UNITS 24 YEAR BUILT 1971 OCCUPANCY % Amenities On Site Laundry Room Community Pool & Deck New Security Gate Comparables Rent Analysis 2 bd / 1 ba $1,133 - $1,400 1 bd / 1 ba $933 - $1,150

22 Morse Plaza Rent Comparables Map 22 # Property Name Address City S Morse Plaza 1960 Morse Ave Sacramento 1 Plumwood 2020 Wright St. Sacramento 2 Alpine Terrace 1257 Fulton Ave Sacramento 3 Artisan Square 1530 Fulton Ave Sacramento 4 Kessington House 2440 Cottage Way Sacramento

23 Morse Plaza On Market Comps On Market Comps On Market Comparables On Market Comparables Charts On Market Comparables Map MORSE PLAZA

Morse Plaza On Market Comparables Summary 24 1 TOTAL UNITS 9 Cap Rate Range 4.50 % - 4.

50 % DOM Range Ponderosa 1437 Hood Rd., Sacramento, CA 95825 OCCUPANCY 100.00 % 2 TOTAL UNITS 6 YEAR BUILT 1971 Cap Rate Range 4.50 % - 4.

24 Morse Plaza On Market Comparables Summary 24 1 TOTAL UNITS 9 Cap Rate Range 4.50 % % YEAR BUILT 1970 ASKING PRICE $1,300,000 PRICE/UNIT $144,444 PRICE/SF $ Price/Unit Range $144,444 - $191,667 CAP RATE 4.50 % DOM Range Ponderosa 1437 Hood Rd., Sacramento, CA OCCUPANCY % 2 TOTAL UNITS 6 YEAR BUILT 1971 Cap Rate Range 4.50 % % Villanova Circle Apartments 2352 Villanova Circle, Sacramento, CA ASKING PRICE $1,150,000 PRICE/UNIT $191,667 PRICE/SF $ CAP RATE 4.50 % Price/Unit Range $144,444 - $191,667 DOM Range

25 Morse Plaza On Market Comparables Summary 25 S TOTAL UNITS 24 Cap Rate Range 4.50 % % YEAR BUILT 1971 ASKING PRICE $3,600,000 PRICE/UNIT $150,000 PRICE/SF $ Price/Unit Range $144,444 - $191,667 CAP RATE 4.60 % Morse Plaza 1960 Morse Ave, Sacramento, CA OCCUPANCY %

26 Morse Plaza On Market Comparables Charts 26

27 Morse Plaza On Market Comparables Map 27 # Property Name Address City S Morse Plaza 1960 Morse Ave Sacramento 1 Villanova Circle Apartments 2352 Villanova Circle Sacramento 2 Ponderosa 1437 Hood Rd. Sacramento

28 Morse Plaza Sale Comps Sale Comps Sale Comparables Sale Comparables Charts Sale Comparables Map MORSE PLAZA

Morse Plaza Sale Comparables Summary 29 1 TOTAL UNITS 63 Cap Rate Range 4.60 % - 4.

75 % DOM Range Sinclair 1201 Fulton Ave, Sacramento, CA 95825 OCCUPANCY 100.

29 Morse Plaza Sale Comparables Summary 29 1 TOTAL UNITS 63 Cap Rate Range 4.60 % % YEAR BUILT 1965 SALE PRICE $9,200,000 PRICE/UNIT $146,032 PRICE/SF $ Price/Unit Range $129,630 - $150,000 CAP RATE 4.75 % DOM Range Sinclair 1201 Fulton Ave, Sacramento, CA OCCUPANCY % CLOSING DATE 10/26/ TOTAL UNITS 27 YEAR BUILT 1964 Cap Rate Range 4.60 % % Peacock Gardens 2125 Fair Oaks Blvd, Sacramento, CA SALE PRICE $3,500,000 PRICE/UNIT $129,630 PRICE/SF $ CAP RATE 4.85 % OCCUPANCY % CLOSING DATE 5/5/2017 Price/Unit Range $129,630 - $150,000 DOM Range

30 Morse Plaza Sale Comparables Summary 30 S TOTAL UNITS 24 Cap Rate Range 4.60 % % YEAR BUILT 1971 ASKING PRICE $3,600,000 PRICE/UNIT $150,000 PRICE/SF $ Price/Unit Range $129,630 - $150,000 CAP RATE 4.60 % Morse Plaza 1960 Morse Ave, Sacramento, CA OCCUPANCY %

31 Morse Plaza Sale Comparables Charts 31

32 Morse Plaza Sale Comparables Map 32 # Property Name Address City S Morse Plaza 1960 Morse Ave Sacramento 1 Peacock Gardens 2125 Fair Oaks Blvd Sacramento 2 Sinclair 1201 Fulton Ave Sacramento

33 Morse Plaza Financial Analysis Financial Analysis Income & Expense Multiyear Cash Flow Assumptions Multiyear Cash Flow Projections Disposition Sensitivity Analysis MORSE PLAZA

Morse Plaza Income & Expense Analysis 34 INCOME CURRENT PRO FORMA Gross Potential Rent $307,104 $346,560 RUBS $13,357 $15,840 Other Income $1,296 $3,000 Gross Potential Income $321,757 $365,400 Less:

34 Morse Plaza Income & Expense Analysis 34 INCOME CURRENT PRO FORMA Gross Potential Rent $307,104 $346,560 RUBS $13,357 $15,840 Other Income $1,296 $3,000 Gross Potential Income $321,757 $365,400 Less: General Vacancy $9,213 $10,397 Effective Gross Income $312,544 $355,003 Less: Expenses $146,852 $146,852 Net Operating Income $165,692 $208,151 Annual Debt Service $142,278 $142,278 Debt Coverage Ratio Cash Flow After Debt Service $23,414 $65,873 REVENUE ALLOCATION EXPENSES PRO FORMA Real Estate Taxes $40,680 Insurance $8,649 Management Fee $13,800 On Site Managememt $15,500 Repairs & Maintenance $15,234 Water / Sewer $21,046 Landscaping $4,750 Utilities $20,189 Other Expenses $7,004 Total Operating Expense $146,852 Expense / SF $6.88 % of EGI % DISTRIBUTION OF EXPENSES

35 Morse Plaza Multiyear Cash Flow Assumptions 35 GLOBAL Commencement Date May. 30, 2018 INCOME GROWTH RATES Gross Potential Rent 3.00 % RUBS 0.50 % Other Income 0.50 % EXPENSE GROWTH RATES Real Estate Taxes % Insurance % Repairs & Maintenance % Water / Sewer % Utilities % Other Expenses % PROPOSED FINANCING Loan Type Down Payment $1,260,000 Loan Amount $2,340,000 Interest Rate 4.50 % Annual Debt Service $142,278 Loan to Value 65 %

Morse Plaza Cash Flow Analysis 36 CASH F Calendar Year CURRENT Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Gross Potential Revenue Gross Rental Income $307,104 $346,560 $356,957

36 Morse Plaza Cash Flow Analysis 36 CASH F Calendar Year CURRENT Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Gross Potential Revenue Gross Rental Income $307,104 $346,560 $356,957 $367,666 $378,695 $390,056 $401,758 $413,811 $426,225 $439,012 RUBS $13,357 $15,840 $15,919 $15,999 $16,079 $16,159 $16,240 $16,321 $16,403 $16,485 Other Income $1,296 $3,000 $3,015 $3,030 $3,045 $3,060 $3,076 $3,091 $3,107 $3,122 Gross Potential Income $321,757 $365,400 $375,891 $386,694 $397,819 $409,276 $421,074 $433,223 $445,734 $458,619 General Vacancy $9,213 $10,397 $10,709 $11,030 $11,361 $11,702 $12,053 $12,414 $12,787 $13,170 Effective Gross Income $312,544 $355,003 $365,182 $375,664 $386,459 $397,574 $409,021 $420,809 $432,948 $445,448 Operating Expenses Real Estate Taxes $40,680 $40,680 $40,721 $40,761 $40,802 $40,843 $40,884 $40,925 $40,966 $41,007 Insurance $8,649 $8,649 $8,658 $8,666 $8,675 $8,684 $8,692 $8,701 $8,710 $8,718 Management Fee $13,800 $13,800 $13,800 $13,800 $13,800 $13,800 $13,800 $13,800 $13,800 $13,800 On Site Managememt $15,500 $15,500 $15,500 $15,500 $15,500 $15,500 $15,500 $15,500 $15,500 $15,500 Repairs & Maintenance $15,234 $15,234 $15,264 $15,295 $15,326 $15,356 $15,387 $15,418 $15,449 $15,479 Water / Sewer $21,046 $21,046 $21,067 $21,088 $21,109 $21,130 $21,151 $21,173 $21,194 $21,215 Landscaping $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 $4,750 Utilities $20,189 $20,189 $20,290 $20,391 $20,493 $20,596 $20,699 $20,802 $20,906 $21,011 Other Expenses $7,004 $7,004 $7,011 $7,018 $7,025 $7,032 $7,039 $7,046 $7,053 $7,060 Total Operating Expense $146,852 $146,852 $147,061 $147,270 $147,480 $147,691 $147,902 $148,114 $148,327 $148,540 Net Operating Income $165,692 $208,151 $218,122 $228,394 $238,978 $249,883 $261,119 $272,694 $284,621 $296,908 Annual Debt Service $142,278 $142,278 $142,278 $142,278 $142,278 $142,278 $142,278 $142,278 $142,278 $142,278 Cash Flow $23,414 $65,873 $75,843 $86,116 $96,700 $107,605 $118,841 $130,416 $142,342 $154,630 Effective Gross Income vs Operating Expenses Cash Flow

37 Morse Plaza Cash Flow Analysis 37 Calendar Year CURRENT Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Financial Metrics Cash on Cash Return b/t 1.86 % 5.23 % 6.02 % 6.83 % 7.67 % 8.54 % 9.43 % % % % CAP Rate 4.60 % 5.78 % 6.06 % 6.34 % 6.64 % 6.94 % 7.25 % 7.57 % 7.91 % 8.25 % Debt Coverage Ratio Operating Expense Ratio % % % % % % % % % % Loan to Value % % % % % % % % % % Breakeven Ratio % % % % % % % % % % Price / SF $169 $169 $169 $169 $169 $169 $169 $169 $169 $169 Price / Unit $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 $150,000 Expense / SF $7 $7 $7 $7 $7 $7 $7 $7 $7 $7 Income / SF $15 $17 $17 $18 $18 $19 $19 $20 $20 $21

38 Morse Plaza Disposition Sensitivity Analysis 38 SENSITIVITY ANALYSIS 5 YEARS EXIT CAP RATE PROJECTED SALES SALES PRICE/UNIT SALES PRICE PSF PROCEEDS AFTER IRR PRICE LOAN PAYOFF 0.25% $95,591,325 $3,982,972 $4,481 $93,251, % 0.50% $47,795,663 $1,991,486 $2,241 $45,455, % 0.75% $31,863,775 $1,327,657 $1,494 $29,523, % 1.00% $23,897,831 $995,743 $1,120 $21,557, % 1.25% $19,118,265 $796,594 $896 $16,778, % 1.50% $15,931,888 $663,829 $747 $13,591, % 1.75% $13,655,904 $568,996 $640 $11,315, % 2.00% $11,948,916 $497,871 $560 $9,608, % 2.25% $10,621,258 $442,552 $498 $8,281, % SENSITIVITY ANALYSIS 10 YEARS EXIT CAP RATE PROJECTED SALES SALES PRICE/UNIT SALES PRICE PSF PROCEEDS AFTER IRR PRICE LOAN PAYOFF 0.25% $118,763,164 $4,948,465 $5,568 $116,423, % 0.50% $59,381,582 $2,474,233 $2,784 $57,041, % 0.75% $39,587,721 $1,649,488 $1,856 $37,247, % 1.00% $29,690,791 $1,237,116 $1,392 $27,350, % 1.25% $23,752,633 $989,693 $1,114 $21,412, % 1.50% $19,793,861 $824,744 $928 $17,453, % 1.75% $16,966,166 $706,924 $795 $14,626, % 2.00% $14,845,396 $618,558 $696 $12,505, % 2.25% $13,195,907 $549,829 $619 $10,855, %

39 Morse Plaza Demographics Demographics Demographic Details Demographic Charts MORSE PLAZA

Morse Plaza Demographics 40 POPULATION 1 MILE 3 MILE 5 MILE HOUSEHOLDS 1 MILE 3 MILE 5 MILE 2000 Population 17,265 127,698 333,976 2000 Total Housing 7,990 59,668 144,081 2010 Population 16,522

40 Morse Plaza Demographics 40 POPULATION 1 MILE 3 MILE 5 MILE HOUSEHOLDS 1 MILE 3 MILE 5 MILE 2000 Population 17, , , Total Housing 7,990 59, , Population 16, , , Total Households 7,243 54, , Population 17, , , Total Households 7,555 56, , Population 18, , , Total Households 7,838 58, , African American 1,874 11,343 33, Average Household Size American Indian 190 1,374 4, Owner Occupied Housing 2,832 26,631 66, Asian 1,136 9,526 30, Renter Occupied Housing 4,823 30,454 70, Hispanic 4,237 28,303 81, Owner Occupied Housing 2,706 25,587 64, White 10,823 87, , Renter Occupied Housing 4,848 31,370 75, Other Race 1,870 12,054 35, Vacant Housing 757 5,171 11, Multiracial 1,338 8,985 25, Total Housing 8,312 62, , : Population: Growth Rate 4.00 % 4.00 % 4.10 % 2022 Owner Occupied Housing 2,772 26,228 65, Renter Occupied Housing 5,066 32,739 78, HOUSEHOLD INCOME 1 MILE 3 MILE 5 MILE 2022 Vacant Housing 784 5,245 12,302 less than $15,000 1,168 7,685 18, Total Housing 8,622 64, ,441 $15,000-$24, ,193 15, : Households: Growth Rate 3.70 % 3.50 % 3.60 % $25,000-$34,999 1,033 6,176 14,660 $35,000-$49,999 1,248 7,694 18,957 $50,000-$74,999 1,362 9,350 24,232 $75,000-$99, ,510 16,196 $100,000-$149, ,714 16,584 $150,000-$199, ,856 6,659 $200,000 or greater 222 3,778 7,180 Median HH Income $42,915 $51,348 $50,917 Average HH Income $61,129 $78,434 $73,487 Source: esri

Morse Plaza Demographic Charts 41 2017 Household Income 1 Mile Radius 3 Mile

41 Morse Plaza Demographic Charts Household Income 1 Mile Radius 3 Mile Radius 5 Mile Radius 2017 Population by Race 1 Mile Radius 3 Mile Radius 5 Mile Radius

42 Morse Plaza Demographic Charts Household Occupancy - 1 Mile Radius 2017 Household Income Average and Median Average Income Median Income

43 Morse Plaza Timothy Swanston Senior Vice President Lic: powered by CREOP

OFFERING MEMORANDUM. South Chicago Majestic 21-Unit 8000 S Paxton Ave, Chicago, IL, 60617

OFFERING MEMORANDUM. South Chicago Majestic 21-Unit 8000 S Paxton Ave, Chicago, IL, 60617 OFFERING MEMORANDUM South Chicago Majestic 21-Unit 8000 S Paxton Ave, Chicago, IL, 60617 South Chicago Majestic 21-Unit CONTENTS 01 Executive Summary Executive Summary 5 Unit Mix Summary 6 Location Summary