OFFERING PACKAGE STRIP CENTERS CHICAGO, IL 10350-56 10315-57 10340-50 PREPARED BY: Anne R. Dempsey Vice President +1 847 698 8269 anne.dempsey@colliers.com
Property Summary owns 3 multi-tenant strip centers, 0.6 miles from Interstate 57, that provide a value add opportunity for investors. The properties enjoy a prime location along Halsted Street in the Washington Heights neighborhood on the south side of Chicago, Illinois. The properties have good access to the area s major transportation links including the expressway system, bus and rail service and are well situated on Halsted Street with traffic counts of 22,600 vehicles/day. Property Profile - Property 1 Address 10315-10357 S. Halsted Lot Size 1.10 Acres Building Size 22,900 s.f. % Leased 67.6% (7,411 s.f.) Parking 46 Frontage 490 on Halsted Year Built 2004 Zoning B3-1, Neighborhood Shopping PIN Number 25-16-100-059-0000 Real Estate Taxes: $90,626 STRENGTHS Value add opportunity for investors Excellent visibility along Halsted Close to major transportation Interstate 57, buses and trains Strong population demographics 30,000+ people in 1 mile radius 4% population growth expected in area by 2020 Some strong credit tenants Subway, H&R Block, Allstate, and Boost Mobile Property Profile - Property 2 Address 10340-10356 S. Halsted Lot Size 0.51 Acres Building Size 12,704 s.f. % Leased 74% (3,303 s.f.) Parking 16 Frontage 224 on Halsted Year Built 2005 Zoning B3-1, Neighborhood Shopping PIN Number 25-17-207-047-0000 Real Estate Taxes: $77,974 Property Profile - Property 3 Address 10350-10356 S. Halsted Lot Size 0.31 Acres Building Size 6,935 s.f. % Leased 38% (4,300 s.f.) Parking 15 Frontage 177 on Halsted (1 curb cut) Year Built 2005 Zoning B3-1, Neighborhood Shopping PIN Number 25-17-207-046-0000 Real Estate Taxes: $26,788 This document has been prepared by Colliers International for advertising and general information only. Colliers International makes no guarantees, representations or warranties of any kind, expressed or implied, regarding the information including, but not limited to, warranties of content, accuracy and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Colliers International 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. This publication is the
OFFERING PACKAGE Aerial 10350-56 10315-57 10340-50
VALUE BASED ON INCOME INCOME 10314-57 S. Halsted 10340-56 S. Halsted 10314-24 S. Halsted Annual Rent $245,700 $172,626 $58,366 Recoverable Taxes and CAM over Stops $- $- $- Gross Rental $245,700 $172,626 $58,366 EXPENSES Real Estate Taxes $90,626 $77,974 $26,788 CAM Expenses $40,075 $22,867 $12,483 Total Expenses $130,701 $100,841 $39,271 Net Operating $114,999 $71,785 $19,095 Building SF 22,900 12,704 6,935 % Occupied 57% 65% 38% TOTAL CENTER OCCUPANCY - 53.6% Sale Price $2,400,000 Cap Rate 8.6%
Rent Roll - Strip Centers 10315-10359 S. Halsted Unit Tenant SF Rent/SF Lease Type Monthly Annual Lease Expiration 10315 ABC Cellular 1,200 $ 19.00 Gross $ 1,900.00 $ 22,800.00 2/28/20019 10317 Beauty Rama 900 $ 16.00 Gross $ 1,200.00 $ 14,400.00 11/30/2016 10321 Vacant 800 $ - Gross $ - $ - N/A 10323 Chicago Workforce Partners 1,000 $ 36.00 Gross $ 3,000.00 $ 36,000.00 9/30/2017 10325 Vacant 1,000 $ - N/A $ - $ - N/A 10327 John Byrd & Assoc 1,000 $ 18.00 Gross $ 1,500.00 $ 18,000.00 1/31/2017 10329 Vacant 1,000 $ - N/A $ - $ - N/A 10331 Vacant 1,000 $ - Gross $ - $ - N/A 10333 Vacant 1,000 $ - N/A $ - $ - N/A 10335 All Dressed up 1,000 $ 18.90 Gross $ 1,575.00 $ 18,900.00 10/31/2015 10337 Allstate Insurance 1,000 $ 21.60 Gross $ 1,800.00 $ 21,600.00 6/30/2017 10339 Barber Shop 1,000 $ 21.60 N/A $ 1,800.00 $ 21,600.00 N/A 10341 Vacant 1,000 $ - Gross $ - $ - N/A 10343 Vacant 1,000 $ - Gross $ - $ - N/A 10345 Vacant 1,000 $ - N/A $ - $ - N/A 10347 Vacant 1,000 $ - Gross $ - $ - N/A 10349 Vacant 1,000 $ - Gross $ - $ - N/A 10351 Cash for Gold 1,000 $ 20.40 Gross $ 1,700.00 $ 20,400.00 4/30/2016 10353 Dynamic Cellular 1,000 $ 18.00 Gross $ 1,500.00 $ 18,000.00 11/10/2017 10355-59 Final Phaze Dance Studio* 4,000 $ 13.50 N/A $ 4,500.00 $ 54,000.00 6/30/2021 Total 22,900 $20,475.00 $245,700.00 10340-10356 S. Halsted Unit Tenant SF Rent/SF Lease Type Monthly Annual Lease Expiration 10340 Jazzy Experience Boutique 1,000 $ 20.00 Gross $ 1,666.67 $ 20,000.00 10342 Michelle's Nails 1,000 $ 21.60 Gross $ 1,800.00 $ 21,600.00 8/31/2016 10344-46 Hi Mart Wigs 2,916 $ 22.49 Gross $ 5,465.07 $ 65,580.84 8/31/2018 10350-52 Vacant 2,000 $ - N/A $ - $ - N/A 10354 Subway 1,500 $ 22.03 Gross $ 2,753.75 $ 33,045.00 3/31/2019 10356 Mobil Link 1,500 $ 21.60 Gross $ 2,700.00 $ 32,400.00 6/7/2017 808 Vacant/Flex Unit 2,204 $ - N/A $ - $ - N/A Total 12,120 $14,385.49 $172,625.84 10314-10324 S. Halsted Unit Tenant SF Rent/SF Lease Type Monthly Annual Lease Expiration 10314 Beggar's Pizza 1,544 $ 23.32 Gross $ 3,000.51 $ 36,006.08 12/31/2017 10316 AAA 1,118 $ 20.00 Gross $ 1,863.33 $ 22,360.00 11/30/2020 10318 Vacant 1,118 $ - N/A $ - $ - N/A 10320 Vacant 1,013 $ - N/A $ - $ - N/A 10324 Vacant 2,142 $ - N/A $ - $ - N/A Total 6,935 $ 4,863.84 $ 58,366.08 * Please note - rent increases to $6,000/month in month 7 of lease Bolded - New Tenants - waiting to get leases back
PHOTOS Property 1-10315-10357 S. Halsted
PHOTOS Property 2-10340-10356 S. Halsted
PHOTOS Property 3-10350-10356 S. Halsted