945 Lakeview Parkway Vernon Hills,IL

Transcription

1 945 Lakeview Parkway Vernon Hills,IL For Sale $2,495,000 Offering Highlights Great Access to I-94 Interstate system Close proximity to Route 60 Immediately adjacent to retail amenities, lodging & shopping Albert M. Lindeman Senior Vice President Vincent D'Amico Senior Advisor Low Lake County Taxes Excellent office campus setting

2 CONFIDENTIAL OFFERING MEMORANDUM Confidentiality & Disclaimer Disclaimer Confidentiality The material contained in this Investment Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of Sperry Van Ness or Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Property Owner ( Owner ) in connection with the sale of the Property is the Sperry Van Ness Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Investment Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to Sperry Van Ness. Neither the Sperry Van Ness Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future performance of the Property. This Offering Brochure may include certain statements and estimates by Sperry Van Ness with respect to the projected future performance of the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the Sperry Van Ness Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Investment Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the Sperry Van Ness Advisor, nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Investment Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Investment Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Investment Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the Sperry Van Ness Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. 2

3 CONFIDENTIAL OFFERING MEMORANDUM Table Of Contents Table of Contents 1. PROPERTY OVERVIEW 4 Executive Summary 5 Property Overview 6 2. LOCATION OVERVIEW 7 Location Maps 8 3. FINANCIAL OVERVIEW 9 Financial Summary 10 Rent Roll DEMOGRAPHICS 12 Demographics Report 13 Demographics Map ADDITIONAL INFORMATION 15 VernonHillsAerial.pdf _Lakeview_ParkwayAerial Floorplan.pdf PlatMap.pdf 19 Exterior Photos ADVISOR BIO & CONTACT 21 Advisor Bio & Contact 1 22 Advisor Bio & Contact 2 23 Back Page 24 3

4 CONFIDENTIAL OFFERING MEMORANDUM 1 PROPERTY OVERVIEW Executive Summary Property Overview 4

5 For Sale Office Owner User Office Property 945 Lakeview Parkway Vernon Hills, IL Investment Overview Sale Price: $2,495,000 Cap Rate: 12.2% NOI: $208,177 Lot Size: Building Size: Building Class: 1.5 Acres 28,143 SF B Year Built: 1990 Renovated: 2005 Property Overview Zoning: Market: Cross Streets: B Central North Center Dr & Lakeview Pky Property Quality Class A Ofiice property ideal for owner user who needs functional flexible office space. With 66% occupancy, this is an excellent opportunity for an owner/user to purchase the property and have carry costs offset by existing tenancy. Traditional office setting with large open area, private offices and large, multi-purpose rooms. The vacant suite can easily be demised or expanded based on buyer's requirements. Location Vernon Hills is a village in Lake County, Illinois, United States. The population was 25,113 at 2010 Census. Vernon Hills serves as a retail hub for its surrounding area (Libertyville, Lake Forest, Mundelein, Lincolnshire, Buffalo Grove,). According to the United States Census Bureau, the village has a total area of 7.6 square miles of which. As of the census of 2010, 7,568 households, and 5,312 families residing in the village.the median income for a household in the village was $101,297, and the median income for a family was $123,806. Consumer spending within 1mile radius of the property is $113million while daytime population is almost 13,000. Median Household Income near the property is very attractive (1-mile: $98,336; 3-mile: $113,518). Presented by ALBERT M. LINDEMAN lindemana@svn.com VINCENT D'AMICO vincent.damico@svn.com 5

6 1. PROPERTY OVERVIEW Property Overview 945 Lakeview Parkway Vernon Hills, IL For Sale $2,495,000 Physical Description Property Name: 945 Lakeview Parkway Type of Ownership: Fee Simple Property Type: Office APN: Lot Size: 1.5 AC Rentable SF: Building Class: B Zoning: B Parking Spaces: 65 Parking Ratio: 2.3/1,000 Building Frontage: 207' Cross Streets: Center Dr & Lakeview Pky Construction Year Built: 1990 Construction Type: Masonry & Steel Number of Stories: 1 Average Floor Size: Single Story Foundation: Concrete on grade Parking Surface: Asphalt Number of Units: 4 Roof: Rubber Membrane Interior Finish Walls: Ceilings: Floor Coverings: Restrooms: Corridors: Drywall Acoutsic Viyl & Carpet Located in individual suites NA 6

7 CONFIDENTIAL OFFERING MEMORANDUM 2 LOCATION OVERVIEW Location Maps 7

8 2. LOCATION OVERVIEW Location Maps 8

9 CONFIDENTIAL OFFERING MEMORANDUM 3 FINANCIAL OVERVIEW Financial Summary Rent Roll 9

10 3. FINANCIAL OVERVIEW Financial Summary 945 Lakeview Parkway Vernon Hills, IL For Sale $2,495,000 Investment Overview 945 Lakeview Parkway Price $2,495,000 Price per SF $88.65 CAP Rate 12.2% Cash-on-Cash Return (yr 1) 8.34 % Total Return (yr 1) $ Debt Coverage Ratio,60 Operating Data Gross Scheduled Income Other Income - Total Scheduled Income Vacancy Cost Gross Income Operating Expenses Net Operating Income $ Pre-Tax Cash Flow Financing Data Down Payment $ Loan Amount Debt Service - Debt Service Monthly - Principal Reduction (yr 1) - >>>>>>> Enter Notes or Comments 10

11 3. FINANCIAL OVERVIEW Rent Roll 945 Lakeview Parkway Vernon Hills, IL For Sale $2,495,000 Unit Number Unit Size (SF) Tenant Name Lease Start Lease End Annual Rent % of Building Price Per/SF/YR ,273 Mangrove Employer Services $161, $ ,335 Vacant Suite ,860 Value Part $76, $ S 3,053 Shared Office $48, $ ,521 $285,285 $10.00 >>>>>>> Enter Notes or Comments 11

12 CONFIDENTIAL OFFERING MEMORANDUM 4 DEMOGRAPHICS Demographics Report Demographics Map 12

13 4. DEMOGRAPHICS Demographics Report 945 Lakeview Parkway Vernon Hills, IL For Sale $2,495,000 1 Mile 3 Miles 5 Miles Total Population 8,964 60, ,259 Total Number of Households Total Number of Persons per Household Average House Value Average Household Income 3,751 21,942 48, $323,631 $428,918 $457,213 $93,029 $116,036 $128,790 Median Age Median Age - Male Median Age - Female Total Population - White Total Percent - White 6,809 48, , % 79.5% 81.2% Total Population - Black Total Percent - Black , % 1.0% 0.9% Total Population - Asian Total Percent - Asian 1,623 7,109 14, % 11.7% 10.8% Total Population - Hawaiian Total Percent - Hawaiian % 0.0% 0.0% Total Population - Indian Total Percent - Indian % 0.0% 0.1% Total Population - Other Total Percent - Other 189 3,752 7, % 6.2% 5.2% Total Population - Hispanic Total Percent - Hispanic 424 9,134 18, % 15.0% 13.3% * Demographic information provided by BuildOut, Inc. 13

14 4. DEMOGRAPHICS Demographics Map 945 Lakeview Parkway Vernon Hills, IL Radius Map 1 Mile 3 Miles 5 Miles Total Population 8,964 60, ,259 Total Number of Households 3,751 21,942 48,617 Average Household Income $93,029 $116,036 $128,790 Median Age * Demographic information provided by BuildOut, LLC 14

15 CONFIDENTIAL OFFERING MEMORANDUM 5 ADDITIONAL INFORMATION VernonHillsAerial.pdf 945_Lakeview_ParkwayAerial 945Floorplan.pdf 945PlatMap.pdf Exterior Photos 15

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17 945 Lakeview Parkway Vernon Hills, Illinois

18 945 Lakeview Parkway Vernon Hills, Illinois Tenant A (Suite )* 5,840 RSF July 1, 2012 June 30, 2020 Office B (Suite 130) 9,335 RSF Vacant - Demisable Tenant C (Suite 170)* 13,326 RSF August 1, 2006 August 31, 2016 * Current management office and small shared office facility are located within Suite 170. This area is adjacent to Suite 130 and can easily be combined to enhance Suite 130 office area.

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20 5. ADDITIONAL INFORMATION Exterior Photos 20

21 CONFIDENTIAL OFFERING MEMORANDUM 6 ADVISOR BIO & CONTACT Advisor Bio & Contact 1 Advisor Bio & Contact 2 Back Page 21

22 6. ADVISOR BIO & CONTACT Advisor Bio & Contact 1 Albert M. Lindeman Senior Vice President SVN Chicago Commercial Albert M. Lindeman Senior Vice President Phone: Fax: Cell: lindemana@svn.com Address: 940 West Adams Street, Suite 200 Chicago, IL Albert M. Lindeman serves as a senior vice president for SVN Chicago Commercial. During his +40 years of real estate experience, he has built an array of valuable business, real estate, and banking and community relationships that benefit his clients. He Office Product Council Chair for Office Properties and member National Medical Office Team. Lindeman has completed transactions with an aggregate value exceeding $ 200 million dollars. Over the course of his career, Lindeman has represented over 500 different clients including: AEG, Apex 520 LLC, Browning Ferris Industries, Collabera, Inc. Caruso Development, CIBA-Geigy,Copley Real Estate Advisors, Colgate Palmolive, G.F. Structures, Fifield Development, Jain Group LLC, Extended Stay America, Hinsdale Oncology & Hematology, West Suburban OB Gyn, Illinois Heart & Vascular; Laidlaw Systems, Meadows Realty LLC, McDonalds Corporation, McDonnell Douglas, Midwest Digestive Disease Specialists, People's Home Equity, New York Life Insurance,Romanek Properties, Ltd., and Sprint Corporation. Lindeman holds the National Association of Realtors CRB designation and is a CCIM Candidate. He is an active member of Holy Family Catholic Community Inverness, Illinois; where he serves in numerous ministries. He has coached in the Palatine Celtic Soccer Club for +13 years; and served on Booster Club Board of St. Theresa Catholic School. Lindeman earned a Masters of Business Administration from Lake Forest Graduate School of Management and completed his undergraduate studies at DePaul University. 22

23 6. ADVISOR BIO & CONTACT Advisor Bio & Contact 2 Vincent D'Amico Senior Advisor SVN Chicago Commercial Vince D Amico serves as a Senior Advisor at SVN Chicago Commercial. D Amico specializes in corporate advisory services, specifically property valuation, asset acquisitions and disposition. Focusing on the metropolitan Chicago market, D Amico has been involved in the transaction of commercial and industrial property, residential land and retail development sites. Over the past three years he has sold more than $35 million in property for private capital and institutional owners alike. Before joining SVN, D Amico was a Vice President at Grubb & Ellis in Chicago, Illinois where he formed the Special Asset Group to assist financial institutions with the valuation and disposition of distressed properties. Prior to Grubb & Ellis, D Amico was Vice Vincent D'Amico President at MJ Partners, where he specialized in the asset Senior Advisor investment properties and development sites. Prior to MJ Partners, Phone: D Amico was a leader in the Real Estate Advisory Services Group at Fax: Cell: acquisition and disposition of land, foreclosed property, Ernst & Young, LLP. D Amico has more than 25 years of corporate real estate experience. vincent.damico@svn.com Mr. D Amico is a life-long Chicago area resident. He holds Bachelor Address: 940 West Adams Street, Suite 200 of Science Degree in Finance and a Masters of Business Chicago, IL Administration from Loyola University of Chicago. D Amico has been a paneled speaker for National Corporate Realty Executives (NACORE) where he is an associate member. Other professional affiliations include National Association of Industrial and Office Professionals (NAIOP), International Council of Shopping Centers (ICSC) and Commercial Real Estate Organization (CREO). Mr. D Amico is a licensed real estate broker in the State of Illinois and serves on the board of a number of local, not for profit organizations. 23

24 Presented by Albert M. Lindeman Senior Vice President Vincent D'Amico Senior Advisor All rights reserved.