FOR SALE 29 UNITS IN WAUKEGAN, ILLINOIS

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1 FOR SALE 29 UNITS IN WAUKEGAN, ILLINOIS 2020 Washington Street FEATURES: Well-maintained brick building High traffic location Twelve 1-bedroom, 17 studio apartments Six garages GROSS INCOME Vacancy (7%) Laundry Expenses NET OPERATING INCOME $184,140 (12,890) 2,520 $173,770 85,249 $88,521 Coin laundry brings additional income Additional parking across street CALL: MEL METTS ASKING: $829,000 Apartment Sales is Our Business!

2 Title Description Art Building, Lorraine Building, Gold's Apartments Washington St. Waukegan, IL. Gold's Apartments Washington St. Waukegan, Illinois These two beautiful brick fire-proof buildings have four stores for the convenience of the tenants, a delicatessan, barber shop, tailor shop, and drug store and sixty-six apartments of 2-3 rooms with bath and kitchenette, located one block from car line, near stores, public schools and high school. Adjoining the Waukegan Athletic Field where tennis courts and baseball diamond are available. These apartments are ultra-modern, having electric- refrigeration, gas ranges, and in-a-door beds. Tenants are permitted the use of the large furnished recreation parlor where they may have their parties and entertain their friends. A beautiful flower garden are for their exclusive use. Up-to-date laundry and showers. Janitor service. Individual garages in rear and lockers for storage in basement. All these features at a very reasonable rental. Here you will find happy congenial people who are contented with their surroundings and a credit to the community in which they live. Buildings are under the personal care and management of Mr. Sam Gold, owner, who maintains an office in the building and who is ready at all times to make an improvement or repairs for the comfort and convenience of his tenants. Subject Buildings Organization Gold's Apartments Participant Lake County Discovery Museum Creator Curt Teich & Co. Publisher Curt Teich & Co., Chicago, Ill., IL Date Type postcard Format paper Source Waukegan, IL, Curt Teich & Co., Chicago, Ill., 9 x 14 cm. City Waukegan State Illinois Country United States SourceSummary Postcard views of Waukegan, IL AcquisitionData Joint Photographic Experts Group (JPEG), 300 DPI, 24-bit color (16.7 million colors), Agfa Duoscan T1200, Adobe Photoshop v.5.0 DateCreated PlaceKept Archives Bldg, 'OA' cabinets, OA3045 Language English CompoundDoc No CollectionsID 430 URL

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7 Lake County Tax Parcel Map LakeCounty Major Roads Geographic Information System Railroads Lake County Department of Information Technology 18 N County St Waukegan IL Map Printed on 9/24/2012 Disclaimer: Major Water Parcels 2010 Aerial Photography This map is for general information purposes only. A Registered Land Surveyor should be consulted to determine the precise location of property boundaries on the ground. This map does not constitute a regulatory determination and is not a base for engineering design. This map is intended to be viewed and printed in color.

8 Lake County Tax Parcel Map LakeCounty Geographic Information System Lake County Department of Information Technology 18 N County St Waukegan IL Map Printed on 9/24/2012 Major Roads Railroads Major Water Parcels Municipalities Disclaimer: This map is for general information purposes only. A Registered Land Surveyor should be consulted to determine the precise location of property boundaries on the ground. This map does not constitute a regulatory determination and is not a base for engineering design. This map is intended to be viewed and printed in color.

9 Property Analysis Price $ 829,000 Units: 29 Price Per Unit: $ 28, Washington Street, Waukegan IL , Source SCHEDULED ANNUAL INCOME (GSI ($ /month x 12) O $ 184,140 Vacancy Factor: 7 % (12,890) B Miscellaneous Income: 2,520 O EFFECTIVE GROSS ANNUAL INCOME: $ 173,770 ESTIMATED ANNUAL EXPENSES: Real Estate Taxes (TAX) [2011] 32,515 O Janitorial/Maintenance (JAN) 1,200 B Professional Management => 5% of EGI 8,689 B Gas (FUE) 10,138 O Electricity (ELEC) 3,430 O Water/Sewer (WTR) 5,077 O Scavenger (SCV) 1,800 O Insurance (INS) 4,788 O Lawn & Snow 1,450 B Repairs/Decorating/Supplies 8,700 B Advertising (ADX) 1,200 O Alarm System 1,068 O Pest Control 850 O Replacement 2.5% of EGI 4,344 B TOTAL ESTIMATED ANNUAL EXPENSES: $ 85,249 % Scheduled Gross Income: 46.3 % Annual Expense/Unit: $2,940 ESTIMATED NET OPERATING INCOME: $ 88,521 CAP RATE 10.7% GROSS RENT MULTIPLIER 4.5 DEBT SERVICE % Fin Rate Amort. Years Monthly Pmt. Annual Pmt. First Mortgage ANNUAL $43,655 CASH FLOW 1.97 DEBT COVERAGE The information contained herein has been obtained from the owner of the property or from other sources that are believed to be reliable. We have no reason to doubt its accuracy, but we do not guarantee it. ASSUMPTIONS: 1. Variable expenses (Source B) are provided by broker based on market averages, and are not intended to be all-inclusive. 07/19/ Fixed expenses are owner's actual for prior year or based on MLS listing information (Source O).

10 RENT ROLL Lorraine Apartments 10/03/ Washington Street Unit Type Rent Secdep Expires 1 1 Bedroom $595 $595 07/31/ Bedroom /31/ Bedroom M-T-M 4 1 Bedroom /31/ Bedroom 595 VACANT 6 1 Bedroom 595 VACANT 7 1 Bedroom /28/ Bedroom 595 VACANT 9 1 Bedroom 595 VACANT 10 Studio /31/ Studio /31/ Studio /30/ Bedroom M-T-M 14 Studio 495 VACANT 15 Studio 495 VACANT 16 Studio /31/ Bedroom /30/ Studio 495 VACANT 19 Studio M-T-M 20 Studio /30/ Studio /31/ Studio /30/ Studio 495 VACANT 24 Studio /31/ Studio /28/ Studio /31/ Bedroom /31/ Studio 495 VACANT 29 Studio /31/2013 Totals $15,365 $9,540

11 PAYMENT COUPON Tax Year 2011 PIN: ROBERT SKIDMORE LAKE COUNTY COLLECTOR Pin RICHARD A & BETTY J TOMEI BALANCE DUE: $ W STONE AVE LAKE FOREST,IL PAYABLE TO THE LAKE COUNTY COLLECTOR Certified funds required after 11/04/ Please Remit Payment To: Lake County Collector 18 N. County Street Waukegan, IL Property Location: 2020 W WASHINGTON ST Tax Year Pin Number Tax CodeAcres WAUKEGAN Legal Description: PT OF NE1/4 SW1/4; E55' W110' OF PT DAFS, COM ON ELN 'S OF NECOR,S TO NLN WASHINGTON ST, W660', N231', E528', N165', E132' TO POB & PT LOT 14 IN TRUSTS WASHINGTON ST SUB, LYG WOF ALN,BEG ON NLN Taxing Body Rate COUNTY OF LAKE COUNTY OF LAKE PENSION CITY OF WAUKEGAN CITY OF WAUKEGAN LIBRARY CITY OF WAUKEGAN PENSION ROAD AND BRIDGE-WAUKEGAN WAUKEGAN PARK DIST WAUKEGAN PARK DIST PENSION WAUKEGAN COMM UNIT SCHOOL DIST # WAUKEGAN COMM UNIT SCHOOL DIST #60 PENSION COLLEGE OF LAKE COUNTY # NORTH SHORE SAN DIST FOREST PRESERVE FOREST PRESERVE PENSION TOWNSHIP OF WAUKEGAN TOWNSHIP OF WAUKEGAN PENSION Totals Land Value $14,812 + Building Value $222,487 x State Multiplier = Equalized Value $243,967 + Farm Land and Bldg Value + State Assessed Pollution Ctrl. + State Assessed Railroads = Total Assessed Value $243,967 - Fully Exempt - Senior Freeze - Home Improvement - Limited Homestead - Senior Homestead - Veterans/Disabled - Returning Veteran = Taxable Valuation $243,967 x Tax Rate = Real Estate Tax $31, Special Assessment + Drainage = Total Current Year Tax $31, Omitted Tax + Forfeited Tax = Total Tax Billed $31, Interest Due as of 9/26/ Cost = AMOUNT BILLED $31, Fair Market Value $731,901 Total Due 9/26/2012 $0.00

12 PAYMENT COUPON Tax Year 2011 PIN: ROBERT SKIDMORE LAKE COUNTY COLLECTOR Pin RICHARD A & BETTY J TOMEI BALANCE DUE: $ W STONE AVE LAKE FOREST,IL PAYABLE TO THE LAKE COUNTY COLLECTOR Certified funds required after 11/04/ Please Remit Payment To: Lake County Collector 18 N. County Street Waukegan, IL Property Location: W WASHINGTON ST Tax Year Pin Number Tax CodeAcres WAUKEGAN Legal Description: WEST WAUKEGAN SUB LOT 1 Taxing Body Rate COUNTY OF LAKE COUNTY OF LAKE PENSION CITY OF WAUKEGAN CITY OF WAUKEGAN LIBRARY CITY OF WAUKEGAN PENSION ROAD AND BRIDGE-WAUKEGAN WAUKEGAN PARK DIST WAUKEGAN PARK DIST PENSION WAUKEGAN COMM UNIT SCHOOL DIST # WAUKEGAN COMM UNIT SCHOOL DIST #60 PENSION COLLEGE OF LAKE COUNTY # NORTH SHORE SAN DIST FOREST PRESERVE FOREST PRESERVE PENSION TOWNSHIP OF WAUKEGAN TOWNSHIP OF WAUKEGAN PENSION Totals Land Value $10,831 + Building Value x State Multiplier = Equalized Value $11,135 + Farm Land and Bldg Value + State Assessed Pollution Ctrl. + State Assessed Railroads = Total Assessed Value $11,135 - Fully Exempt - Senior Freeze - Home Improvement - Limited Homestead - Senior Homestead - Veterans/Disabled - Returning Veteran = Taxable Valuation $11,135 x Tax Rate = Real Estate Tax $1, Special Assessment + Drainage = Total Current Year Tax $1, Omitted Tax + Forfeited Tax = Total Tax Billed $1, Interest Due as of 9/26/ Cost = AMOUNT BILLED $1, Fair Market Value $33,405 Total Due 9/26/2012 $0.00

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14 Apartment Sales is Our Business! THIS IS A CONFIDENTIAL MARKETING BROCHURE intended to assist a potential purchaser in an initial review of the real property presented here. The selected information is not all-inclusive and does not contain all the information an investor may desire. Neither the owners nor GRAFF REALTY or any agent or employee make any representation or warranty, expressed or implied, as to the accuracy or completeness of this brochure or any of its contents. Interested persons are expected to do an independent review of any projections and all documents relating to the property. Any projections contained herein are based on assumptions about the current and future market conditions, and the general economy which are beyond the control of GRAFF REALTY, and therefore subject to material variation. This information is of confidential and proprietary nature, and you are not to disclose this information directly or indirectly without prior written permission of the owners. This brochure may not be duplicated without the consent of GRAFF REALTY. Pursuant to regulations enacted by the State of Illinois relative to disclosure of representation by broker or sales associate, in all transactions relative to this property, GRAFF REALTY is representing the owner. However, in any situation where there is not a cooperating broker representing the purchaser, GRAFF REALTY is deemed to also be representing the purchaser. THIS OFFERING IS SUBJECT TO CHANGE AND MAY BE WITHDRAWN WITH OR WITHOUT NOTICE. THIS CONFIDENTIAL DOCUMENT SHALL NOT BE DEEMED A REPRESENTATION OF THE STATE OF AFFAIRS OF THE PROPERTY AND THERE MAY HAVE BEEN CHANGES IN THE OPERATIONS SINCE THE DATE OF PREPARATION OF THIS DOCUMENT.