56 Single Family Lots FOR SALE

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1 Land Investment Opportunity! Dan Flanagan, ALC Managing Broker Phone: Fax: Flanagan Realty, LLC represents the seller in this transaction and will not be acting as a dual agent or representative of the buyer unless specifically stated in writing. The information contained herein is from sources considered reliable, but is not guaranteed and is subject to change without notice. Buyers are advised to independently verify all information and perform their own due diligence. This offering may be withdrawn or subject to a change in price or terms without advance notice. Seller reserves the right to reject any and all offers.

2 According to Metrostudy: Market Overview/Investment Summary Builders in the Chicago market will be challenged to bring new housing units tomarket under $300k as construction costs, land and lot prices and development costs continue to increase. Outlying areas of the Chicagoland market are beginning to slowly turn around, with slight construction increases in Boone, DeKalb and Winnebago counties. The months of supply for lots in the Chicago market has fallen from a high of over 250 months in the third quarter of 2011, to a current level of 71 months, dropping by 2,600 lots y o y. Housing starts in the Boone/Winnebago market have nearly tripled since 1Q2013, increasing from 57 to 146 in 1Q17. According to the Rockford Register Star, in 2005, 1,863 single family building permits were issued in Rockford, Loves Park, Machesney Park, Winnebago County, Belvidere and Boone County. In the past 10 years, including the recession, single family housing starts in the Boone/Winnebago market have averaged 375 per year, and, in the past five years, singlefamily housing starts have dropped to 89 per year. By comparison, in the 10 years leading up to 2005, single family housing starts averaged 1,392 per year. The lowest year was 1997 when 1, single family building permits were issued. Even at half of historical levels, this market is still more than 600 housing startsperyear below the previous market averages prior to the run up. Historically, as the supply of inexpensive lots in the suburban counties decreases builders have ventured further out in search of less expensive land to meet the demand for lower priced housing. The Winnebago/Boone market has been dramatically underserved with new construction for almost 10 years which is beginning to result in a very tight housing inventory with pent up demand and increasing prices. Housing starts within the Winnebago/Boone market have tripled since All of this data points to a market that is poised to see a rapid increase in demand for finished lots as the local market improved and as lot inventory in the suburbs continues to decline and the expense of developing new single family lots increases to a level that will make the construction of new single family homes under $300,000 nearly impossible.

3 Summary Location: Property: The property is generally located south of Business Route 20 west of Bonus Avenue n Belvidere, Boone County, IL 56 single family lots + 5 outlots Lot Sizes: Typically 110 x 100 Improvements: Letter of Credit: Architectural Reqs: Permit Fees: HOA: Taxes: Zoning: Price: All lots are fully improved with municipal sewer and water and utilities with asphalt paved streets and curb and gutter. Builders responsible for sidewalks, street trees and parkway landscaping. $113,190 for completion of sidewalks, street trees and parkways. Minimal $16,465 for a four bedroom house. None established $22,810/year (approx $380/lot) SR 6 Single Family Asking $1,064,000 ($19,000 per lot) All offers considered

4 56 Single Family Lots FOR SALE Location Map

5 56 Single Family Lots FOR SALE Aerial Photo

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7 56 Single Family Lots FOR SALE Aerial Photo

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9 ILLINOIS ASSOCIATION OF REALTORS NOTICE OF NO AGENCY RELATIONSHIP Name of Broker Associate Daniel Flanagan Name of Brokerage Company Flanagan Realty, LLC NOTICE OF NO AGENCY RELATIONSHIP In regard to this property, Daniel Flanagan of Flanagan Realty, LLC has entered into an agreement with Seller to provide certain real estate brokerage services and represents the seller in this transaction and will not be acting as a dual agent or representative of the buyer unless specifically stated in writing. THIS NOTICE OF NO AGENCY IS BEING PROVIDED AS REQUIRED BY STATE LAW. Customer Signature Print Customer s Name Date