An Investment Offering PRESENTED BY: SEAN CONNELLY MANAGING DIRECTOR 773.899.1334 sean@ CHET KONDAS BROKER 773.360.6406 chet.kondas@
1. PROPERTY INFORMATION PRESENTED BY: SEAN CONNELLY MANAGING DIRECTOR 773.899.1334 sean@ CHET KONDAS BROKER 773.360.6406 chet.kondas@
SECTION 1. PROPERTY INFORMATION CHICAGO HEIGHTS, IL EXECUTIVE SUMMARY 33 Realty is proud to present this unique investment opportunity located in Chicago Heights on the heavily trafficked (24,000 Vehicles Per Day) Halsted Ave. The property has two buildings, one is 6,200 SF with 3 retail spaces and the other is a warehouse building (located in the rear) with 12,600 SF divided into two units. The property has a total leaseable area of 18,800 SF and 39,107 SF in land. The front building is occupied with a mix of non-national tenants and include a hair salon, a car audio company, a parking company, and the current owner's insurance company. The 12,600 SF warehouse building is occupied by an auto repair business and a shirt printing company. PROPERTY SUMMARY Price: $270,000 The property is offered at an asking price of $270,000 and is currently bank owned. There is an opportunity to create value and drive additional revenue through leasing the vacant units. This is ideal for a buyer who intends to use this as a business location or as an investor who is seeking to increase the current strong income and add more tenants to the already diverse tenant base. Lot Size: 39,107 SF Building Size: 18,800 SF Year Built: 1968
SECTION 1. PROPERTY INFORMATION HIGHLIGHTS Bank Owned Property with huge upside to increase already strong revenue by leasing vacant space Total of 2 buildings: 6,200 SF retail space and a 12,600 SF warehouse with 12 ft. ceilings. Located on heavily trafficked Halsted Ave. with 24,000 vehicles per day. Strong location on Halsted Ave. commercial corridor. Nearby businesses include: Prairie state College, McDonald's, Salvation Army, Helsel-Jepperson Electrical Wholesale Supplier, and Chicago Heights Golf Course. Plenty of off-street parking with 13 spots. Currently zoned as B-2, Limited Service Business District.
SECTION 1. PROPERTY INFORMATION (PRO-FORMA) CHICAGO HEIGHTS, IL TENANT NAME UNIT NUMBER UNIT SIZE (SF) POTENTIAL MARKET RENT % OF GLA Camara Hair Braiding 151 S Halsted Ave 1,330 $9,589 7.07 Alist Music 155-157A S Halsted Ave 1,100 $9,603 5.85 Premier Auto Repair 149 S Halsted Ave 9,600 $16,224 51.06 Shirt printers 155 S Halsted Ave. 3,000 $10,800 15.96 Limo Service 153 S. Halsted 1,330 $9,310 7.07 Dirty Dye Ana Retail #2 1,330 $10,800 7.07 Vacant Retail #3 1,330 $0 7.07 Totals/Averages 19,020 $66,326
2. LOCATION INFORMATION PRESENTED BY: SEAN CONNELLY MANAGING DIRECTOR 773.899.1334 sean@ CHET KONDAS BROKER 773.360.6406 chet.kondas@
SECTION 1. LOCATION INFORMATION CHICAGO HEIGHTS, IL 149-57 S. Halsted St., Chicago Heights, IL 60411
SECTION 1. LOCATION INFORMATION
SECTION 1. LOCATION INFORMATION
3. FINANCIAL ANALYSIS PRESENTED BY: SEAN CONNELLY MANAGING DIRECTOR 773.899.1334 sean@ CHET KONDAS BROKER 773.360.6406 chet.kondas@
SECTION 1. FINANCIAL ANALYSIS CHICAGO HEIGHTS, IL INVESTMENT OVERVIEW ACTUAL PRO FORMA Price $270,000 $270,000 Price per SF $14.36 $14.36 CAP Rate 14.19% 19.29% Cash-on-Cash Return (yr 1) 87.87% 142.97% Total Return (yr 1) $27,395 $41,169 Debt Coverage Ratio 2.34 3.19 OPERATING DATA ACTUAL PRO FORMA Gross Scheduled Income $66,326 $90,110 Other Income - - Total Scheduled Income $66,326 $90,110 Vacancy Cost ($0) ($6,308) Gross Income $66,326 $83,802 Operating Expenses $28,017 $31,719 Net Operating Income $38,309 $52,083 Pre-Tax Cash Flow $21,968 $35,742 FINANCING DATA ACTUAL PRO FORMA Down Payment $25,000 $25,000 Loan Amount $245,000 $245,000 Debt Service $16,341 $16,341 Debt Service Monthly $1,361 $1,361 Principal Reduction (yr 1) $5,427 $5,427
SECTION 1. FINANCIAL ANALYSIS CHICAGO HEIGHTS, IL INCOME SUMMARY ACTUAL % OF SGI PER SF PRO FORMA % OF SGI PER SF Current Rental Income $66,326 100.0% $3.53-0.0% - Market Rental Income - 0.0% - $90,110 100.0% $4.79 TOTAL INCOME $66,326 $3.53 $90,110 $4.79 EXPENSE SUMMARY ACTUAL % OF SGI PER SF PRO FORMA % OF SGI PER SF Property Management $5,306 8.0% $0.28 $7,208 8.0% $0.38 RE Taxes (50% paid by Tenants) $12,711 19.2% $0.68 $12,711 14.1% $0.68 Insurance (50% paid by Tenants) $1,200 1.8% $0.06 $1,800 2.0% $0.10 Repairs and Maintenance $2,500 3.8% $0.13 $3,500 3.9% $0.19 Utilities (common areas) $600 0.9% $0.03 $800 0.9% $0.04 Water / Sewer (Tenants pay) $0 0.0% $0.00 $0 0.0% $0.00 Snow Removal / Landscaping $1,200 1.8% $0.06 $1,200 1.3% $0.06 Legal and Accounting $1,500 2.3% $0.08 $1,500 1.7% $0.08 Cap Ex Reserves $1,000 1.5% $0.05 $1,000 1.1% $0.05 Lease Commissions / Marketing $2,000 3.0% $0.11 $2,000 2.2% $0.11 OPERATING EXPENSES $28,017 42.2% $1.49 $31,719 35.2% $1.69 NET OPERATING INCOME $38,309 $2.04 $52,083 $2.77
4. DEMOGRAPHICS PRESENTED BY: SEAN CONNELLY MANAGING DIRECTOR 773.899.1334 sean@ CHET KONDAS BROKER 773.360.6406 chet.kondas@
SECTION 1. DEMOGRAPHICS 1 MILE 3 MILES 5 MILES Total households 3,524 25,362 65,598 Total persons per hh 2.9 2.8 2.8 Average hh income $68,865 $68,372 $66,643 Average house value $161,225 $192,362 $195,842 1 MILE 3 MILES 5 MILES Total population 10,164 72,223 181,938 Median age 37.9 36.4 37.0 Median age (male) 35.4 34.0 35.0 Median age (female) 40.1 38.6 38.5 * Demographic data derived from 2010 US Census
SECTION 1. DEMOGRAPHICS 1 Mile 3 Miles 5 Miles Total Population 10,164 72,223 181,938 Population Density 3,235 2,554 2,317 Median Age 37.9 36.4 37.0 Median Age (Male) 35.4 34.0 35.0 Median Age (Female) 40.1 38.6 38.5 Total Households 3,524 25,362 65,598 # of Persons Per HH 2.9 2.8 2.8 Average HH Income $68,865 $68,372 $66,643 Average House Value $161,225 $192,362 $195,842 * Demographic data derived from 2010 US Census