Brochure 7 26-11 east-court_village

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Brochure 7 26-11 east-court_village

  1. 1. Investment Property Offering$1,195,000 EAST COURT VILLAGE 3574-3578 Court Street, Pekin, IL 61554 Presented By: Thomas Vincent, Offering Highlights CCIM Shadow Anchored by Major Retailers 1803 Hicks Rd., Suite D Rolling Meadows, IL 60008 (847)963-1031 Wal-mart Super Center- 1/4 Mile East vincentt@svn.com Attractive Masonry 2006 Construction Low Real Estate Taxes 07/26/2011 All Sperry Van Ness® Offices Independently Owned and Operated.
  2. 2. All materials and information received or derived from Sperry Van Ness/Sentinel RealtyAdvisors, Inc. (Thomas S. Vincent)(hereinafter collectively “Sperry Van Ness”), its directors,officers, agents, advisors, affiliates and/or any third party sources are provided withoutrepresentation or warranty by Sperry Van Ness its directors, officers, agents, advisors, oraffiliates as to completeness , veracity, or accuracy, condition of the property, compliance orlack of compliance with applicable governmental requirements, developability or suitability,financial performance of the property, projected financial performance of the property for anyparty’s intended use or any and all other matters.Neither Sperry Van Ness its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the anymaterials or information provided, derived, or received.Materials and information from any source, whether written or verbal, that may be furnished forreview are not a substitute for a party’s active conduct of its own due diligence to determinethese and other matters of significance to such party. Sperry Van Ness will not investigate orverify any such matters or conduct due diligence for a party unless otherwise agreed in writing.EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUEDILIGENCE.Any party contemplating or under contract or in escrow for a transaction is urged to verify allinformation and to conduct their own inspections and investigations including throughappropriate third party independent professionals selected by such party.All financial data should be verified by the party including by obtaining and reading applicabledocuments and reports and consulting appropriate independent professionals. Sperry Van Nessmakes no warranties and/or representations regarding the veracity, completeness, or relevanceof any financial data or assumptions. Sperry Van Ness does not serve as a financial advisor toany party regarding any proposed transaction. All data and assumptions regarding financialperformance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do notnecessarily mean that rents can be established at or increased to that level. Parties mustevaluate any applicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in order to determine rents from or for the property.Legal questions should be discussed by the party with an attorney. Tax questions should bediscussed by the party with a certified public accountant or tax attorney. Title questions shouldbe discussed by the party with a title officer or attorney. Questions regarding the condition ofthe property and whether the property complies with applicable governmental requirementsshould be discussed by the party with appropriate engineers, architects, contractors, otherconsultants and governmental agencies.All properties and services are marketed by Sperry Van Ness in compliance with all applicablefair housing and equal opportunity laws.Sperry Van Ness/Sentinel Realty Advisors, Inc. (Thomas S. Vincent) is independently ownedand operated.
  3. 3. Table of Contents 1 Financial Analysis Executive Summary Investment Information Rent Roll Summary 2 Sales Comparables Sales Comparables Summary 3 Additional Information Pictures Location Map Demographics ReportThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  4. 4. 1 . Financial AnalysisAll Sperry Van Ness® Offices Independently Owned and Operated.
  5. 5. EAST COURT VILLAGE Executive Summary List Price $1,195,000 Price Per GLA $222.95 Price Per Sq.Ft. $222.95 NOI $107,007 CAP 8.95 % Building Sq.Ft. 5,360 Land Acres 0.7500 Occupancy. PROPERTY DESCRIPTION3574-3578 Court Street, Pekin, IL 61554 Construction Built in 2006-attractive drivit construction. ParkingHIGHLIGHTS Approximately a 5:1 ratio Shadow Anchored by Major Retailers Traffic Counts Traffic count on Court St: 17,800 cars Wal-mart Super Center- 1/4 Mile East Ingress/Egress Attractive Masonry 2006 Construction Property is a pad site on large retail development. Principal access is from Court St, secondary access from Veterans Drive. Low Real Estate Taxes Major Tenants Verizon Wireless and Citigroup. Verizon exercised option-5 years remaining. Citibank 18 months remaining. Verizon and Citibank are NNN leases Cross Street Area Tax Parcel No. The area is the retail hub of Pekin. A new Wal-Mart Super Market Peoria Center & Menards are located d within 1/4 mile of the site. The property is part of a re-development with several anchors Sub Market including Hobby Lobby, Tractor Supply and Bergners as well as Year Built 2006 excellent smaller tenants such as Clares, Payless Shoes and Hallmark. Other major tenants in the area include Staples, Building Class A Advance Auto, Sherwin Williams, Starbucks, Applebees as well Location Class A as several banks. The building faces south, toward Bergners and Zoning Type Commercial the rear elevation front Court St., providing excellent exposure. Signalized Corner No Property The building faces south toward Bergners and the rear Street Frontage elevation fronts Court St. providing excellent exposure. No. of Buildings 1 No. of Stories Exclusively Listed By: No. of Tenants 3 No. of Parking Spaces Thomas Vincent, CCIM Parking Ratio 5:1 (847)963-1031 vincentt@svn.com 07/26/2011
  6. 6. Investment InformationEAST COURT VILLAGE 3574-3578 Court Street Pekin, IL 61554Listing Price $1,195,000 GLA 5,360Actual CAP 8.95 % Building S.F. 5,360CAP Percent Occupied 100.00 %Price Per S.F. $222.95 Land Acres 0.7500Price Per GLA $222.95 Loan AmountExpenses Per S.F. $4.40 Down PaymentLoan DescriptionEstimated Annualized Operating Data ActualScheduled Income $113,880Tax, CAM, Ins. Reimb. $23,588Less Vacancy $6,873Gross Operating Income $130,595Less Expenses $23,588Net Operating Income $107,007Less Loan Payment $0Pre-Tax Cash Flow $107,007Cash on Cash ReturnEstimated Annualized Expenses Highlights ActualProjected Taxes $9,751 Shadow Anchored by Major RetailersInsurance $2,126 Wal-mart Super Center- 1/4 Mile EastOff-Site Management $3,000 Attractive Masonry 2006 ConstructionTrash $3,053 Low Real Estate TaxesSnow Removal $1,496Landscaping $1,542Lot Sweeping $571Utilities $2,049Total Expenses $23,588 $0Expenses Per S.F. $4.40 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  7. 7. w w w .s vn .c o mRent Roll Summary Space Tenant Name Start Date End Date Occupied Vacant Annual Occupied Vacant % of Escalations / Options / Comments Number S.F. S.F. Rent S.F. Rent Rent Total 1 Verizon 4/1/2006 4/30/2016 3,000 $25.00 $75,000 $0 56.0 % 2 Renewal Options- 5 yr terms with increases 2 Citigroup 7/1/2007 1/31/2013 1,800 $16.00 $28,800 $0 33.6 % 1 Renewal Option- 5 yr term 3 All Credit Lenders 12/31/2012 560 $18.00 $10,080 $0 10.4 % Total 5,360 $113,880 $0 100.0 % Potential Annual Income $113,880 Total S.F. 5,360 Avg. Annual Per S.F. $21.25 S.F. Vacancy (%) Rent Vacancy (%) The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. All Sperry Van Ness® Offices Independently Owned and Operated.
  8. 8. 2 . Sales ComparablesAll Sperry Van Ness® Offices Independently Owned and Operated.
  9. 9. w w w .s vn .c o mSales Comparables Summary Sales Comparables - ClosedProperty Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close PhotoPrairie Pointe $2,525,150 11,876 $212.63 8.00 %9010 Allen Rd. Tenants include Edward Jones, Pizza Factory and Great Harvest BreadPeoria,ILAverages $2,525,150 11,876 $212.63 8.00 % Sales Comparables - On MarketProperty Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close PhotoHeritage Crossing $3,729,000 2009 12,050 $309.46 8.53 % 60712 N. McLean Blvd.South Elgin,IL 60177Fox River Grove Center $2,940,000 2008 14,035 $209.48 8.75 % 70925 Rt. 22 Automotive tenant on end cap, only retail pocket in communityFox River Grove ,IL 60021 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. All Sperry Van Ness® Offices Independently Owned and Operated.
  10. 10. w w w .s vn .c o mProperty Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close PhotoKaneville Center $3,000,000 17,744 $169.07 7.10 % 852401 W. Kaneville Rd. On Randall Rd. corridor at signalized intersection. Cap rate based on 75% occupancy.Geneva,IL 60134Averages $3,223,000 2009 14,610 $229.34 8.13 % 72 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. All Sperry Van Ness® Offices Independently Owned and Operated.
  11. 11. w w w .s vn .c o m Averages For All Sales Comparables Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces CloseAverages $3,048,538 2009 13,926 $225.16 8.10 % 72 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. All Sperry Van Ness® Offices Independently Owned and Operated.
  12. 12. 3 . Additional InformationAll Sperry Van Ness® Offices Independently Owned and Operated.
  13. 13. Anchors- Claires & PaylessNearby Shopping Center- Hobby LobbyThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  14. 14. Anchors- Sprint & DealsNearby Bank Building The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  15. 15. BergnersNearby Firestone The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  16. 16. Adjacent Strip Center The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  17. 17. w w w .s vn .c o m Location Map The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness. All Sperry Van Ness® Offices Independently Owned and Operated.
  18. 18. Demographics Report3574 Court StreetPekin, IL 61554 1.00 Mile 3.00 Mile 5.00 Mile Ring Ring RingPOPULATION 1990 Population 1,771 25,205 40,575 2000 Population 1,827 25,231 42,114 % Population Change 1990-2000 3.16 % 0.10 % 3.79 %2008 Total Population 1,899 25,020 42,0802013 Total Population 1,985 25,349 42,565% Population Change 2000-2008 3.94 % -0.84 % -0.08 %% Population Change 2008-2013 4.53 % 1.31 % 1.15 %2008 Total Households 872 10,560 16,8232013 Total Households 907 10,679 16,988% Households Change 2000-2008 10.80 % 1.61 % 1.99 %% Households Change 2008-2013 4.01 % 1.13 % 0.98 %2008 White Population 1,836 24,256 39,9402008 Black Population 2 51 9592008 American Indian/Alaska Native 2 36 832008 Asian/Hawaiian/Pacific Islander 11 115 2032008 Other Population (Incl 2+ Races) 47 563 8972008 Hispanic Population 22 326 6022008 Non-Hispanic Population 1,877 24,694 41,4792008 Per Capita Income $32,346 $25,264 $24,0612008 Median Household Income $49,095 $43,794 $43,3652008 Average Household Income $70,442 $59,858 $60,1842008 Household Income < $10,000 43 656 9692008 Household Income $10,000-$14,999 64 807 1,2132008 Household Income $15,000-$19,999 29 681 1,1792008 Household Income $20,000-$24,999 41 625 1,0962008 Household Income $25,000-$29,999 32 586 1,0422008 Household Income $30,000-$34,999 87 788 1,2172008 Household Income $35,000-$39,999 43 611 9732008 Household Income $40,000-$44,999 58 693 1,0712008 Household Income $45,000-$49,999 47 580 9742008 Household Income $50,000-$59,999 82 1,126 1,9442008 Household Income $60,000-$74,999 94 1,448 2,3872008 Household Income $75,000-$99,999 191 1,407 1,9242008 Household Income $100,000-$124,999 32 310 4472008 Household Income $125,000-$149,999 12 135 231 The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
  19. 19. 2008 Household Income $150,000-$199,999 10 49 692008 Household Income $200,000-$249,999 1 11 142008 Household Income $250,000-$499,999 5 46 692008 Household Income $500,000+ 0 1 12008 Average Household Size 2.14 2.31 2.382008 Total Owner Occupied Housing Units 657 7,181 12,0072008 Total Renter Occupied Housing Units 218 3,371 4,8222008 Total Daytime Population 3,995 18,656 33,5202008 Total Daytime Work Population 2,485 7,349 13,3112008 Total Establishments 216 843 1,533HOUSEHOLDS 1990 Households 714 10,060 15,962 2000 Households 787 10,393 16,494 % Households Change 1990-2000 10.22 % 3.31 % 3.33 % The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

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