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NWC 107th-Western sale flyer

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NWC 107th-Western sale flyer Powered By Docstoc
					                                                                                                        For Sale
                                                                                                7,200 sf Retail Center
                                                                                                Beverly Neighborhood
                   Commercial and Investment Specialists

                                                                                                      10648 S Western Ave. Chicago, IL
Penn Real Estate




                                                             Highlights                                                               This retail property located at the north-
                                                             • National credit tenants occupy 50%                                     west corner of 107th and Western Ave.
                                                               of property                                                            serves Chicago’s affluent Beverly
                                                                                                                                      neighborhood.
                                                             •     NOI $109,800
                                                                                                                                      The rent roll consisting of CitiFinancial,
                                                                                                                                      The Department of Veterans Affiars, a
                                                             •     Stoplight Corner
                                                                                                                                      well established medical user, and a local
                                                                                                                                      restaurant will give the new owner tre-
                                                             •     Plenty of off -street parking                                      mendous stability until it is time to ex-
                                                                                                                                      plore rent increases in the near future.
                                                             •     Fully Occupied
                                                                                                                                      Businesses located in this center will be
                                                             •     18,000 sf site                                                     able to cater to the numerous residents
                                                                                                                                      and professionals as well as over 30,000
                                                             •     Great demographics                                                 cars per day

Contact:                                                     •     30,500 vpd on Western Ave
                                                              Demographics
Joe Esselman
                                                                          1 mile                                        3 mile                                       5 Mile
  President                                                      Population Avg HH Inc                          Population Avg HH Inc                       Population Avg HH Inc

                                                                         23,392             $80,258                   205,264            $64,388                  505,000             $60,321

                                                           The information contained herein was obtained from sources deemed reliable, however Penn Real Estate, Inc. makes no guarantees, warranties, or
                                                           representations as to the completeness or accuracy thereof. The presentation of this property is submitted subject to errors, omissions, change of
                                                           price to sale or lease, withdrawal without notice.
                                                            10648 S Western
                                                              Chicago, IL
                                                               Site Plan




      107th Street
                             Citifinancial   Veterans’ Affairs                  A Choice for Life        Turkey Delight
                              (1,750 sf)        (1,350 sf)                         (2,600 sf)              (1,300 sf)




                                               Western Ave
                                                                      N




                                                       Penn Real Estate
PH: (773) 238-1500                                                                                                        10540 S Western Ave.
Fax: (773) 840-4349                                                                                                                    Ste 403
jesselman@pennrealestateinc.com                                                                                             Chicago, IL 60643
Www.PennRealEstateInc.com                                        Commercial and Investment Specialists
                                  10648-10656 S Western Ave
                                         Chicago, IL
                                      Close Aerial View




                                    Penn Real Estate
PH: (773) 238-1500                                                             10540 S Western Ave.
Fax: (773) 840-4349                                                                         Ste 403
jesselman@pennrealestateinc.com                                                  Chicago, IL 60643
Www.PennRealEstateInc.com              Commercial and Investment Specialists
                                  10648-10656 S Western Ave
                                         Chicago, IL
                                          Mid Map




                                                                        Site




                                    Penn Real Estate
PH: (773) 238-1500                                                             10540 S Western Ave.
Fax: (773) 840-4349                                                                         Ste 403
jesselman@pennrealestateinc.com                                                  Chicago, IL 60643
Www.PennRealEstateInc.com              Commercial and Investment Specialists
                                   10648-10656 S Western Ave
                                          Chicago, IL
                                           Rent Roll

      CitiFinancial (Net)                  Monthly Base Rent Lease Rate           Current SF   Pro Rata Share Options
                                                                                    1,750           24%       2- Five Years
      May 2005-April 2010                  $            2,770.83 $        19.00
      May 2010-April 2015                  $            3,062.50 $        21.00
      May 2015-April 2020                  $            3,427.08 $        23.50

      Current Annual Rent                  $           33,249.96
      Current Exp Reimbursement            $            5,998.56
      Total Rental Income                  $           39,248.52

      GSA- Dept Veterans Affairs (Gross)   Monthly Base Rent Lease Rate           Current SF   Pro Rata Share Options

      January 2009-January 2014            $            2,418.75 $        21.50        1,350        19%        5- One years

      Current Annual Rent                  $           29,025.00
      Current Exp Reimbursement                              N/A
      Total Rental Income                  $           29,025.00

      A Choice for Life (Net)              Monthly Base Rent Lease Rate           Current SF   Pro Rata Share Options
                                                                                    2,600           36%       2-Five years
      September 2008-August 2009           $            3,570.67 $        16.48
      September 2009-August 2010           $            3,677.79 $        16.97

      Current Annual Rent                  $           44,133.48
      Current Exp Reimbursement            $            9,750.00
      Total Rental Income                  $           53,883.48

      Beverly Turkey and Seafood (Net)     Monthly Base Rent Lease Rate           Current SF   Pro Rata Share Options
                                                                                    1,300           18%
      December 2009-November 2010          $            1,625.00   $      15.00
      December 2010-November 2011          $            1,673.75   $      15.45
      December 2011-November 2012          $            1,723.58   $      15.91
      December 2012-November 2013          $            1,775.58   $      16.39
      December 2013-November 2014          $            1,828.67   $      16.88

      Current Annual Rent                  $           19,500.00
      Current Exp Reimbursement            $            5,200.00
      Total Rental Income                  $           24,700.00


      Yr 1 Gross Rental Income             $         125,908.44
      Expense Reimbursement                $          20,948.56
      Total Income Yr 1                    $         146,857.00


                                         Penn Real Estate
PH: (773) 238-1500                                                                                          10540 S Western Ave.
Fax: (773) 840-4349                                                                                                      Ste 403
jesselman@pennrealestateinc.com                                                                               Chicago, IL 60643
                                               Commercial and Investment Specialists                  www.PennRealEstateInc.com
                                  10648-10656 S Western Ave
                                         Chicago, IL
                                      Cash Flow Year 1

                            Income
                            Rental Income                          $                    125,908.00
                            Expense Reimbursement                  $                     20,948.00
                            Total Income                           $                    146,856.00


                            Expenses
                            Real Estate Taxes                      $                     12,631.00
                            Insurance                              $                      3,986.00
                            Electric                               $                       824.21
                            Water                                  $                       661.45
                            Gas                                    $                      1,000.00
                            Landscaping/Snow                       $                      5,445.00
                            Management                             $                      6,231.00
                            Vacancy (5%)                           $                      6,231.10
                            Total Expenses                         $                     37,009.76


                            Yr 1 Net Operating Income              $                    109,846.24
                            Asking Price                           $                1,250,000.00
                            Cap Rate                                                           8.8%



                            Cash Flow
                            Purchase Price                         $                1,250,000.00
                            Equity Required (25%)                  $                    312,500.00
                            Mortgage Amount                        $                    937,500.00
                            Interest Rate                                                     6.25%
                            Amort                                                              25 yrs


                            Annual Debt Service                    $                     73,628.51
                            Cash Flow Before Taxes                 $                     36,218.00



                            Year 1 Return on Equity                                           11.6%




                                        Penn Real Estate
PH: (773) 238-1500                                                                                      10540 S Western Ave.
Fax: (773) 840-4349                                                                                                  Ste 403
jesselman@                                                                                                Chicago, IL 60643
pennrealestateinc.com                           Commercial and Investment Specialists
Www.PennRealEstateInc.com

				
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posted:3/10/2010
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