net lease property for sale in the Chicago MSA

1. NET LEASED INVESTMENT OFFERING
Safelite AutoGlass
6538 West Ogden Avenue
Berwyn, IL 60402 (Chicago MSA)
www.bouldergroup.com

2. TABLE OF CONTENTS
NET LEASED INVESTMENT OFFERING
TABLE OF CONTENTS
1)
Confidentiality & Disclaimer
2)
Executive Summary
3)
Property Overview
4)
Aerial
5)
Site Plan
6)
Maps
7)
Tenant Profile
8)
Demographic Comparison Report
9)
Location Overview
10)
Contact Information
www.bouldergroup.com

3. CONFIDENTITALITY & DISCLAIMER
NET LEASED INVESTMENT OFFERING
CONFIDENTIALITY & DISCLAIMER
The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to
be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person
or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide
summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the
subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The
Boulder Group has not made any investigation, and makes no warranty or representation. The information contained
in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group
has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any
investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy
or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the
information set forth herein.
www.bouldergroup.com

4. EXECUTIVE SUMMARY
NET LEASED INVESTMENT OFFERING
EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant Safelite AutoGlass property approximately
eight miles southwest of downtown Chicago. The 4,000 square foot building was constructed in 2012 within a dense
area of the Chicago MSA. The corporately guaranteed lease has over ten years remaining and features two rental
escalations in the primary term. Safelite AutoGlass is the largest auto glass repair and replacement organization in
the United States with annual sales in excess of $1 billion and 423 locations nationwide.
The subject property is located on the southwest corner of Ogden Avenue and Scoville Avenue in Berwyn, Illinois.
Ogden Avenue is a heavily trafficked thoroughfare that experiences traffic volumes in excess of 25,000 vehicles
per day. The property is located approximately 2.5 miles from Interstate 55, which has traffic volumes in excess of
150,000 vehicles per day. The area is densely populated with over 225,000 people living within three miles and
670,000 people living within five miles of the property. Ogden Avenue is home to many national and local retailers.
The surrounding area features many national automotive service companies including AutoZone, Pep Boys, Car-X,
Advanced Auto Parts, Jiffy Lube, Midas, Enterprise, and J.D. Byrider. Other retailers in the immediate area include
Walgreens, Chase Bank, PNC Bank, BMO Harris Bank, McDonald’s, Radio Shack, Ace Hardware, and Circle K.
Safelite AutoGlass’s original lease term was for twelve years and expires in February 2024. The base rent increases
by $2,000 every four years with the next rental escalation to occur in February 2016. There are two 5-year renewal
options with a 10% rental escalation occurring in each option period. Safelite AutoGlass has locations in all 50 states
and employs approximately 10,000 people.
INVESTMENT HIGHLIGHTS
• Located within the Chicago MSA
• Long term lease with over 10 years remaining
• Rental escalations every four years
• Recently constructed building (2012)
• Located along a heavily trafficked roadway (25,000+ VPD)
• Located along a primary automotive-services corridor
• Corporately guaranteed lease (annual sales in excess of $1 billion)
• Densely populated area with over 225,000 people living within three miles
www.bouldergroup.com

5. PROPERTY OVERVIEW
NET LEASED INVESTMENT OFFERING
PROPERTY OVERVIEW
Price:
$1,570,000
Cap Rate:
6.75%
Rent Schedule:
NOI
Escalation Date
$106,000
$108,000
$110,000
$121,000
$130,100
2/21/2016
2/21/2020
3/01/2024 (Option 1)
3/01/2029 (Option 2)
Renewal Options:
Two 5-Year
Lease Commencement Date:
February 21, 2012
Lease Expiration Date:
February 28, 2024
Tenant:
Safelite Fulfillment, Inc. (DBA: Safelite AutoGlass)
Guarantor:
Safelite Group Inc.
Year Built:
2012
Lease Type:
NN (Structure Only)
Building Size:
4,000 SF
Land Size:
21,126 SF
www.bouldergroup.com

6. AERIAL
NET LEASED INVESTMENT OFFERING
AERIAL
N
NUE
AVE PD
DEN 0 V
OG 5,00
2
www.bouldergroup.com

7. SITE PLAN
NET LEASED INVESTMENT OFFERING
SITE PLAN
OGD
EN
NU
AVE
E
N
www.bouldergroup.com

8. MAPS
NET LEASED INVESTMENT OFFERING
MAPS
www.bouldergroup.com

9. TENANT PROFILE
NET LEASED INVESTMENT OFFERING
TENANT PROFILE
Safelite AutoGlass is an automotive glass and claims management company that is based in Columbus, Ohio.
The company was founded in 1947 and operates in all 50 states. Safelite AutoGlass serves more than four
million customers each year and is the largest auto glass repair and replacement organization in the US. Safelite
employees approximately 10,000 people.
Website:
Number of Employees:
2012 Total Revenue:
Number of Locations:
www.safelite.com
10,000
$1 billion +
423
www.bouldergroup.com

10. DEMOGRAPHIC COMPARISON REPORT
NET LEASED INVESTMENT OFFERING
DEMOGRAPHIC COMPARISON REPORT
Population
Total Population
Total Households
1-mi
3-mi
5-mi
32,893
11,123
228,679
73,108
669,286
216,007
$51,371
$63,998
$50,104
$63,892
$62,232
$62,232
Income
Median Household Income
Average Household Income
www.bouldergroup.com

11. LOCATION OVERVIEW
NET LEASED INVESTMENT OFFERING
LOCATION OVERVIEW
Berwyn is a city in Cook County, Illinois located approximately eight miles west of downtown. As
of the 2010 census, Berwyn had a population of 56,800 and has the highest population density
of any township in Illinois. Berwyn is easily accessible because of its location, which is nestled
between Interstate 290 and Interstate 55.
www.berwyn-il.gov
Chicago is the most populous city in the Midwestern United States and the third most populous
city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County,
the second largest county in the United States. The Chicago MSA is the third most populated
metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300
square miles and six counties. The Chicago metropolitan area is home to the corporate
headquarters of 57 Fortune 1000 companies, including Boeing, McDonald’s, Motorola, Discover
Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure
and O’Hare International Airport is the second busiest airport in the world in terms of traffic movement.
The metro is also a major financial center in North America, and is home to the largest futures exchange in the
United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks
the competitiveness of financial centers based on people, business environment, market access, infrastructure
and general competitiveness.
www.cityofchicago.org
www.bouldergroup.com

12. CONTACT INFORMATION
NET LEASED INVESTMENT OFFERING
CONTACT INFORMATION
666 Dundee Road, Suite 1801
Northbrook, IL 60062
Randy Blankstein
President
847.562.0003
rblank@bouldergroup.com
Jimmy Goodman
Partner
847.562.8500
jimmy@bouldergroup.com
www.bouldergroup.com