CIRE Partners. Investment Offering - Single Tenant. Six Asset Portfolio Sale Totaling ±81,249 Square Feet

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1 Investment Offering - Single Tenant Six Asset Portfolio Sale Totaling ±81,249 Square Feet For more information contact: Andrew Slade, Executive Vice President (858) Exclusively Listed in Association with: Continental Real Estate IN Lic. #RB Exclusively Listed in Association with: Continental Real Estate IL Lic. # CIRE Partners COMMERCIAL INVESTMENT REAL ESTATE

2 Investment Offering - Single Tenant Six Asset Portfolio Sale Totaling ±81,249 Square Feet Confidentiality & Disclaimer The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended only to be reviewed by the party receiving it from CIRE Brokerage Services Inc. dba CIRE Partners (hereafter CIRE Partners ) and should not be made available to any other person or entity without the written consent of CIRE Partners. This Offering Memorandum has been prepared to provide summary, unverified 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. CIRE Partners 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 or absence of contaminating substances, PCB s or asbestos, the compliance with State and Federal regulators, the physical condition of the improvements thereon, or the 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 to be reliable; however, CIRE Partners has not verified, and will not verify, any of the information contained herein, nor has CIRE Partners conducted any investigation regarding theses 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. This is not an appraisal. Please consult your CIRE Partners agent for more details. The information contained herein was obtained from sources believed reliable, however, CIRE Partners makes no guaranties, warranties or representations as to the completeness thereof. This document has been prepared by CIRE Partners for advertising and general information only. CIRE Partners excludes unequivocally all inferred or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages arising there from. For more information contact: Andrew Slade (858) direct aslade@cirepartners.com CA BRE # Exclusively Listed in Association with: Continental Real Estate IN Lic. #RB Exclusively Listed in Association with: Continental Real Estate IL Lic. # table of contents section I executive summary section II section III market information section IV tenant profiles

3 property snapshot Portfolio Sale (Six Assets) Totaling ±81,249 Square Feet Single Tenant Absolute NNN Leased - Retail Fee-Simple Ownership No Landlord Responsibilities *Representative Photo CIRE Partners is pleased to exclusively offer for sale a single tenant bank portfolio located in Illinois and Indiana. The investment contains a corporately guaranteed lease from an investment grade tenant, First Mid Illinois Bank & Trust and Old National Bank (Aa3 Moody s Credit Rating). The current lease term runs until 2022 and has four, five year option periods with annual rent increases throughout the remaining lease term and option periods. pricing information Purchase Price $16,645,000 NOI $1,330,960 CAP Rate 8.00% Lease Term ±5 Years Remaining Address City, State Total SF Remaining Lease Term NOI Year 1 NOI $/SF % of Portfolio Year 1 NOI 2017 Branch Deposits 116 W Main Street Carmi, Illinois ±15,675 SF ±5 Years Remaining $241,028 $15.37 / SF 18.11% $59,461, S Main Street Clinton, Indiana ±14,074 SF ±5 Years Remaining $185,494 $13.18 / SF 13.94% $60,785, Main Street Tell City, Indiana ±13,000 SF ±5 Years Remaining $228,452 $17.57 / SF 17.16% $114,400, Main Street Ferdinand, Indiana ±7,200 SF ±5 Years Remaining $158,159 $21.96 / SF 11.88% $147,880, Washington Street Covington, Indiana ±6,364 SF ±5 Years Remaining $153,775 $24.16 / SF 11.55% $78,003, South High Street Muncie, Indiana ±24,936 SF ±5 Years Remaining $364,049 $14.59 / SF 27.35% N/A page 3 executive summary

4 property one Purchase Price $3,015,000 NOI $241,028 CAP Rate 8.00% Address 116 W Main Street Carmi, Illinois Building Size / Lot Size ±15,675 SF / ±54,450 SF Type of Ownership Fee Simple Lease Term Remaining ±5 Years Remaining Renewal Options 4 - Five Year Options Lease Type Absolute NNN Landlord Responsibilities None Annual Increases 1.5% Annually 2015 demographics 1 mile 3 miles 5 miles total population 4,263 5,941 6,737 total households 1,830 2,628 2,949 average household income $44,961 $47,654 $49,594 Year Annual Rent* Monthly Rent Monthly ($/SF) 10/ /2018 $241,028 $20,086 $1.28 / SF 10/ /2019 $244,643 $20,387 $1.30 / SF 10/ /2020 $248,313 $20,693 $1.32 / SF 10/ /2021 $252,038 $21,003 $1.34 / SF 10/ /2022 $255,818 $21,318 $1.36 / SF *NOI based on an assumed annual CPI increase of 1.5%. Carmi-White County High School Lincoln School Carmi Manor Rehabilitation and Nursing Center investment highlights The subject property is located in the immediate area of retail tenants including: JC Penney, CVS Pharmacy, Integra Bank, RadioShack, First Bank, Carmi Cinemas, etc. Absolute NNN Lease - No Landlord Responsibilities Whatsoever Corporate Guarantee by Old National Bancorp Credit Rating (Moody s) Aa3, Stable / A3, Stable (Total Assets $14.9 billion 2016) 1.5% Annual Increases Large Parcel - Property Situated on Over an Acre of Land *First Mid Illinois Bank & Trust, NA and ONB entered into a Branch Purchase and Assumption Agreement. ONB is still on the hook for all obligations and liabilities under the lease during the Initial Term which expires October 31, page 4

5 propertysite plan N ch ur Ch et E et re St rr e Ch tre S y N Je et up ss tre S n et re St i a M E et tre S n o s bin o ER page 5

6 property two Purchase Price $2,320,000 NOI $185,494 CAP Rate 8.00% Address 407 S Main Street Clinton, Indiana Building Size / Lot Size ±14,074 SF / ±51,400 SF Type of Ownership Fee Simple Lease Term Remaining ±5 Years Remaining Renewal Options 4 - Five Year Options Lease Type Absolute NNN Landlord Responsibilities None Annual Increases 1.5% Annually 2015 demographics 1 mile 3 miles 5 miles total population 3,941 8,364 10,406 total households 1,595 3,441 4,273 average household income $40,853 $49,187 $50,969 Clinton City Court Year Annual Rent* Monthly Rent Monthly ($/SF) 10/ /2018 $185,494 $15,458 $1.10 / SF 10/ /2019 $188,276 $15,690 $1.11 / SF 10/ /2020 $191,101 $15,925 $1.13 / SF 10/ /2021 $193,967 $16,164 $1.15 / SF 10/ /2022 $196,877 $16,406 $1.17 / SF *NOI based on an assumed annual CPI increase of 1.5%. investment highlights The subject property is located in the immediate area of several tenants including: First Financial Bank, Fifth Third Bank, TrueValue Hardware, Ace Hardware, Dairy Queen, Cingular Stores, Citgo Gas, etc. Absolute NNN Lease- No Landlord Responsibilities Whatsoever Corporate Guarantee by Old National Bancorp Credit Rating (Moody s) Aa3, Stable / A3, Stable (Total Assets $14.9 billion 2016) 1.5% Annual Increases Large Parcel Property Situated on Over an Acre of Land Union Hospital Clinton page 6

7 property site plan S Main Street page 7

8 property three Purchase Price $2,856,000 NOI $228,452 CAP Rate 8.00% Address 529 Main Street Tell City, Indiana Building Size / Lot Size ±13,000 SF / ±50,965 SF Type of Ownership Fee Simple Lease Term Remaining ±5 Years Remaining Renewal Options 4 - Five Year Options Lease Type Absolute NNN Landlord Responsibilities None Annual Increases 1.5% Annually 2015 demographics 1 mile 3 miles 5 miles total population 5,421 9,027 14,500 total households 2,452 3,939 6,153 average household income $46,861 $50,291 $51,793 Tell City High School Year Annual Rent* Monthly Rent Monthly ($/SF) 10/ /2018 $228,452 $19,038 $1.46 / SF 10/ /2019 $231,879 $19,323 $1.49 / SF 10/ /2020 $235,357 $19,613 $1.51 / SF 10/ /2021 $238,887 $19,907 $1.53 / SF 10/ /2022 $242,471 $20,206 $1.55 / SF *NOI based on an assumed annual CPI increase of 1.5%. investment highlights The subject property is located in the immediate area of several retail tenants including: First State Bank, People's Community Bank, CVS Pharmacy, Sears, Arby's, Wendy's, McDonald's, Dairy Queen etc. Absolute NNN Lease- No Landlord Responsibilities Whatsoever Corporate Guarantee by Old National Bancorp Credit Rating (Moody s) Aa3, Stable / A3, Stable (Total Assets $14.9 billion 2016) Located next to Highway 66 a main thoroughfare through town Excellent visibility with traffic counts of 17,230 ADT (State Road 66) 1.5% Annual Increases Large Parcel - Property Situated on Over an Acre of Land page 8

9 property site plan Main Street Humbolt Street page 9

10 property four Purchase Price $1,977,000 NOI $158,159 CAP Rate 8.00% Address 1155 Main Street Ferdinand, Indiana Building Size / Lot Size ±7,200 SF / ±38,768 SF Type of Ownership Fee Simple Lease Term Remaining ±5 Years Remaining Renewal Options 4 - Five Year Options Lease Type Absolute NNN Landlord Responsibilities None Annual Increases 1.5% Annually 2015 demographics 1 mile 3 miles 5 miles total population 2,226 3,401 6,118 total households 863 1,290 2,243 average household income $62,945 $63,983 $68,013 Year Annual Rent* Monthly Rent Monthly ($/SF) 10/ /2018 $158,159 $13,180 $1.83 / SF 10/ /2019 $160,531 $13,378 $1.86 / SF MasterBrand Cabinets, Inc. 10/ /2020 $162,939 $13,578 $1.89 / SF 10/ /2021 $165,383 $13,782 $1.91 / SF 10/ /2022 $167,864 $13,989 $1.94 / SF *NOI based on an assumed annual CPI increase of 1.5%. investment highlights The subject property is located in the immediate area of several retail tenants including: CVS Pharmacy, Napa, Subway, Dollar General, Citgo, German American Bancorp, Express Lube, Wendy's, Subway, Domino's, Comfort Inn, etc. Absolute NNN Lease- No Landlord Responsibilities Whatsoever Corporate Guarantee by Old National Bancorp Credit Rating (Moody s) Aa3, Stable / A3, Stable (Total Assets $14.9 billion 2016) 1.5% Annual Increases Close Proximity to I-64 and US 231 page 10

11 property site plan E 12th Street Main Street E 11th Street page 11

12 property five Purchase Price $1,925,000 NOI $153,775 CAP Rate 8.00% Address 401 Washington Street Covington, Indiana Building Size / Lot Size ±6,364 SF ±50,965 SF Type of Ownership Fee Simple Lease Term Remaining ±5 Years Remaining Renewal Options 4 - Five Year Options Lease Type Absolute NNN Landlord Responsibilities None Annual Increases 1.5% Annually 2015 demographics 1 mile 3 miles 5 miles total population 2,602 3,433 4,571 total households 1,109 1,436 1,902 average household income $62,094 $63,552 $64,248 Year Annual Rent* Monthly Rent Monthly ($/SF) 10/ /2018 $153,775 $12,815 $2.01 / SF 10/ /2019 $156,082 $13,007 $2.04 / SF 10/ /2020 $158,423 $13,202 $2.07 / SF 10/ /2021 $160,799 $13,400 $2.11 / SF 10/ /2022 $163,211 $13,601 $2.14 / SF *NOI based on an assumed annual CPI increase of 1.5%. investment highlights The subject property is in the immediate area of retail tenants including: Dollar General, CVS Pharmacy, Marathon, Subway, MainSource Bank, Centre Bank, U-Haul, Parish Tire & Battery Shop, Covington Foods Inc., etc. Absolute NNN Lease- No Landlord Responsibilities Whatsoever Corporate Guarantee by Old National Bancorp Credit Rating (Moody s) Aa3, Stable / A3, Stable (Total Assets $14.9 billion 2016) 1.5% Annual Increases Large Parcel Property Situated on Over an Acre of Land page 12

13 propertysite plan Jefferson Street 4th Street page 13

14 property six Purchase Price $4,552,000 NOI $364,049 CAP Rate 8.00% Address 320 South High Street Muncie, IN Building Size / Lot Size ±24,936 SF ±31,145 SF Type of Ownership Fee Simple Lease Term Remaining ±5 Years Remaining Renewal Options 4 - Five Year Options Lease Type Absolute NNN Landlord Responsibilities None Annual Increases 1.5% Annually 2015 demographics 1 mile 3 miles 5 miles total population 11,467 63,683 84,886 total households 4,862 24,785 33,748 average household income $20,439 $28,809 $32,265 Year Annual Rent* Monthly Rent Monthly ($/SF) 10/ /2018 $364,049 $30,337 $1.22 / SF 10/ /2019 $369,510 $30,792 $1.23 / SF 10/ /2020 $375,052 $31,254 $1.25 / SF 10/ /2021 $380,678 $31,723 $1.27 / SF 10/ /2022 $386,388 $32,199 $1.29 / SF *NOI based on an assumed annual CPI increase of 1.5%. investment highlights The subject property is located near Ivy Tech Community College which is an accredited college with over 45 campuses serving ±160,000 students a year. Absolute NNN Lease- No Landlord Responsibilities Whatsoever Corporate Guarantee by Old National Bancorp Credit Rating (Moody s) Aa3, Stable / A3, Stable (Total Assets $14.9 billion 2016) 1.5% Annual Increases Large Parcel Property Situated on Almost an Acre of Land *American National Trust & Investment Management Company is an asset management arm of Old National Bancorp. The firm also provides fiduciary services, trust services, and financial and estate planning. It primarily provides its services to high net worth individuals. The firm invests in the public equity markets of the United States. American National Trust & Investment Management Company is based in Evansville, Indiana. American National Trust & Investment Management Company operates as a subsidiary of Old National Bank. page 14

15 property site plan E Adams Street South High Street E Charles Street page 15

16 location map page 16

17 property photos *Some *Representative representative Photo photos have been used on this page. page 17

18 market overviews property one - Carmi, IL is located in White County and home to a growing population of over 5,343 residents. Evansville, IL is the major city in the region. The Evansville region is known far and wide for the production of appliances, nutritional products, pharmaceuticals, aluminum sheet, automobiles, auto glass, coal and oil and plastics. A new technology based plant near Carmi will be considered one of the cleanest coal-fired power plant in the nation. The project will provide new construction jobs and attract new business in the area. property two - Clinton, IN is located in Vermilion County 13 miles north of Terre Haute and 66 miles west of Indianapolis. The city is considered to be part of the Terre Haute metropolitan area. Clinton has a population of 5,126. Indianapolis, IN is the major city in the region and the largest city in Indiana. Indianapolis is the twelfth largest city in the United States with a growing population of 800,000 and a strong economy supported by manufacturing, agricultural and service industries. The leading employers in the area include electronics, pharmaceuticals, publishing, food processing and insurance companies. property three - Tell City, IN is located in Delaware County with a population of 6,570 residents. Since 2000, it has had a population growth of 2.11%. Compared to the rest of the country, Yorktown cost of living is 19.73% lower than the U.S. average. Yorktown is home to ATTC Manufacturing Inc., a subsidiary of Aisin Takaoka Co. which supplies Toyota Corp with brake drums, rotors and differential case. They are spending $49 million dollars to expand the existing plant by 90,000 sq. ft. to accommodate a new production line. This expansion will create 90 new jobs in Tell City plant. Construction is expected to begin late ATTC is one of seven Aisin companies in Indiana. property four - Ferdinand, Indiana is located in Dubois county with a population of 2,313 residents. It is 34 miles northeast of Owensboro, Kentucky and 60 miles west of Louisville, Kentucky. Louisville, Kentucky is the major city in the region with a population of 200,000 residents. In 2007 Louisville Kentucky was named one of the Top 10 underrated cities in the U.S. by Sherman's Travel, one of America's "50 Hotties Cities" for business expansion and relocation by Expansion Management magazine, and among the Best Cities to Have a Baby by FitPregnancy magazine. Today Louisville is home to 15 biblically traded companies, 10 manufacturing companies, 15 distribution companies and the largest "For Profit" Health-related Companies in Louisville MSA. property five - Covington, IN is located in the Fountain County and home to a growing population of 2,565. It is bounded on the west by the Wabash River and on the south by Interstate 74. Interstate 74, is a main thoroughfare through the southern edge of Covington. It is 70 miles west of Indianapolis, Indiana and 33 miles southwest of Lafayette, Indiana. Lafayette, IN is the major city in the region with a population of over 61,244 residents. Much of the economy of the city is centered around the academic and industrial activities of Purdue University. The university and its associated businesses employ the largest portion of the Lafayette workforce. However private industry and commerce independent of the university also thrives in the community. property six - Muncie, IN is approximately 60 miles northeast of Indianapolis and home to a population of 67,000. In 2004 Muncie was named "Community of the Year" by the Indiana Chamber of Commerce for its quality-of-life programs, downtown revitalization, and economic development initiatives. page 18 market information

19 market rent comparables photo Property Address SF NOI $/SF 4805 East 96th Street Indianapolis, IN ±5,945 SF $327,624 $55.11 / SF 402 Main Street Mt. Vernon, IN ±21,700 SF $548,924 $25.30 / SF 1703 W Broadway Princeton, IN ±6,909 SF $362,024 $52.40 / SF 1825 Lafayette Avenue Terre Haute, IN ±7,500 SF $406,543 $54.21 / SF 311 SE 21st Street Washington, IN ±5,600 SF $293,434 $52.40 / SF 3012 West Parrish Avenue Owensboro, KY ±3,336 SF $178,134 $53.40 / SF *Some Representative Photos have been used in Comparables. page 19 market information

20 tenant profile The Portfolio is bond-leased to Old National Bank, a top 100 ranked banking company in the United States and dominant institution in markets throughout Indiana, southeastern Illinois, western Kentucky, and southwestern Michigan. Old National Bank has developed its business on the foundation of community banking, building long-term, highly valued partnerships with its clients. The Bank s unfailing commitment to its core strategy has led it to become the largest financial services holding company in its home state of Indiana as well as demonstrating the top three market share in 13 of the bank s primary markets. Old National Bank currently holds an Aa3 credit rating (Moody s). Headquartered in Evansville, Indiana, Old National Bank boasts a market capitalization of $2.44 billion (6/2015), over $10.8 billion in deposits, and $14.9 billion in total assets. Not only does the offering benefit from the high investment grade credit rating of the Tenant, but Old National Bancorp, the Parent company, also serves as the unconditional guarantor under the Lease. The guaranty further enhances the credit profile and security of the offering, an added benefit not commonly found in traditional bank branch leases. Old National Bank is Indiana s largest bank with $6.5 billion in statewide deposits and the branches included in the Portfolio have over $379 million in total deposits. Year Founded 1834 Headquarters Evansville, Indiana Website Total Locations 200+ Total Employees 2,652 Total Assets $14.9 Billion Moody's Rating Aa3 A majority of the Old National Portfolio bank branches are situated along primary commercial corridors and feature excellent visibility and access. Many of the branches are located on hard corners proximate to bustling shopping centers or within dense residential communities. Within five miles of each branch, the average annual household incomes are nearly $60,000. Indiana is consistently ranked as one of the ten lowest cost states to live in the United States, which helps attract business to the state and increases individuals purchasing power. Furthermore, the majority of the county unemployment rates are well below the state and national average rates, reflecting the superior employment conditions within the local markets. The Old National Bank Portfolio will be transferred free and clear of debt. Investors will be able to capitalize on today s attractive debt markets and secure highly aggressive and favorable financing. page 20 tenant profiles

21 deposit information photo Property Name Address Property One 116 W Main Street Carmi, Illinois ,960 51, Property Two 407 S Main Street Clinton, Indiana Property Three 529 Main Street Tell City, Indiana Property Four 1155 Main Street Ferdinand, Indiana Property Five 401 Washington Street Covington, Indiana Note: All Branch Deposits shown in $000's. page 21 market information

22 CIRE Partners COMMERCIAL INVESTMENT REAL ESTATE CIRE Partners 530 B Street, Suite 2050 San Diego, CA