110 Concord Dr...110 CONCORD DR 4 | SALE COMPARABLES Each Office Independently Owned and Operated...

KW COMMERCIAL45 S. Park, Suite 300Glen Ellyn, IL 60137 CJ MCCANN

Broker0: 630.984.4701C: [email protected]

110 Concord Dr

OFFERING MEMORANDUM

PRESENTED BY:

MELROSE PARK, IL

OFFERING MEMORANDUM

Each Office Independently Owned and Operated kwcommercial.com 2

KW COMMERCIAL

45 S. Park, Suite 300

Glen Ellyn, IL 60137

Confidentiality & Disclaimer

CJ MCCANNBroker0: 630.984.4701C: [email protected]

All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.

Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.

All data and assumptions regarding financial performance, 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 not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Glen Ellyn, IL in compliance with all applicable fair housing and equal opportunity laws.

We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.

OFFERING MEMORANDUM

PRESENTED BY:

MELROSE PARK, IL

PROPERTY INFORMATION

1 | PROPERTY INFORMATION

EXECUTIVE SUMMARY

PROPERTY DETAILS

ADDITIONAL PHOTOS

1PROPERTY INFORMATION110 CONCORD DR

OFFERING MEMORANDUM


OFFERING SUMMARY

SALE PRICE: $675,000

NUMBER OF UNITS: 6

CAP RATE: 7.19%

NOI: $48,518

LOT SIZE: 0.11 Acres

BUILDING SIZE: 3,510 SF

RENOVATED: 2017

ZONING: B

MARKET: Chicago

SUBMARKET: West Cook MF

TRAFFIC COUNT: 27,087

PRICE / SF: $192.31

PROPERTY OVERVIEW6 Flat Low Rise Multifamily Property with easy access to I-290 for commuters!Completely renovated in 2017 with everything new down to the studs. All unitshave condo-quality Gnishes, new HVAC and AC. One parking space per unitincluded in rent. Excellent turn-key investment opportunity!

PROPERTY HIGHLIGHTS• Turn key investment

• Renovated in 2017

• New HVAC and AC

Executive Summary

110 CONCORD DR 1 | PROPERTY INFORMATION


SALE PRICE $675,000

LOCATION INFORMATION

Street Address 110 Concord Dr

City, State, Zip Melrose Park, IL 60160

County/Township Cook

Market Chicago

Submarket West Cook MF

Cross Streets Concord Ave / N 5th Ave

Side Of Street South

Road Type Paved

Market Type Medium

Nearest Highway I-290

Nearest Airport O'Hare International Airport

BUILDING INFORMATION

Building Size 3,510 SF

NOI $48,518

Cap Rate 7.19%

Price / SF $192.31

Year Built 1961

Last Renovated 2017

Occupancy % 100%

Tenancy Multiple

Number Of Floors 2

Average Floor Size 1,755 SF

Load Factor Yes

PROPERTY DETAILS

Property Type Multifamily

Property Subtype Low-Rise/Garden

Zoning B

Lot Size 0.11 Acres

APN# 15-02-115-040-0000

Submarket West Cook MF

TrafGc Count 27,087

TrafGc Count Street 1st Ave / Division St

PARKING & TRANSPORTATION

Street Parking Yes

Property Details



Additional Photos


LOCATION INFORMATION

2 | LOCATION INFORMATION

LOCATION MAPS

RETAILER MAP

2LOCATION INFORMATION110 CONCORD DR

OFFERING MEMORANDUM


Location Maps

110 CONCORD DR 2 | LOCATION INFORMATION


Retailer Map

110 CONCORD DR 2 | LOCATION INFORMATION

FINANCIAL ANALYSIS

3 | FINANCIAL ANALYSIS

FINANCIAL SUMMARY

RENT ROLL

UNIT MIX SUMMARY

3FINANCIAL ANALYSIS110 CONCORD DR

OFFERING MEMORANDUM


Financial Summary

110 CONCORD DR 3 | FINANCIAL ANALYSIS


UNIT

NUMBER

UNIT

BED

UNIT

BATH

LEASE

START

CURRENT

RENT

1N 2 1 9/20 $1,250

1S 2 1 9/20 $1,250

2N 2 1 2/19 $1,195

2S 2 1 9/20 $1,195

GN 2 1 11/19 $1,200

GS 1 1 7/18 $800

Totals/Averages $6,890

Rent Roll



UNIT TYPE COUNT % TOTAL

2 Bed / 1 Bath 5 83.3

1 Bed / 1 Bath 1 16.7

Totals/Averages 6 100%

Unit Mix Summary


SALE COMPARABLES

4 | SALE COMPARABLES

SALE COMPS

SALE COMPS SUMMARY

SALE COMPS MAP

4SALE COMPARABLES110 CONCORD DR

OFFERING MEMORANDUM


Subject Property

110 Concord Dr | Melrose Park, IL 60160

$675,000Sale Price: 1961Year Built:

3,510 SFBuilding SF: $192.31Price PSF:

6No. Units: $112,500Price / Unit:

7.19%CAP: $48,518NOI:

8.5GRM:

6 Flat Low Rise Multifamily Property with easy access to I-290 for commuters! Completely renovated in 2017 with everything new down to the studs. All units havecondo-quality .nishes, new HVAC and AC. One parking space per unit included in rent. Excellent turn-key investment opportunity!

2 Star Low-Rise Apartments

1

7557 W Belmont Ave

Chicago, IL 60634

$942,000Sale Price: 0.17 AcresLot Size:

1969Year Built: 3,500 SFBuilding SF:

$269.14Price PSF: 9No. Units:

$104,666Price / Unit: 07/16/2018Closed:

100%Occupancy:

1


2

3506 Warren Ave

Bellwood, IL 60104





100%Occupancy:

2

2 Star Apartments

3

2912 N 75th Ave

Elmwood Park, IL 60707





100%Occupancy:

3

Sale Comps

110 CONCORD DR 4 | SALE COMPARABLES



4

1948 N 19th Ave

Melrose Park, IL 60160




$100,000Price / Unit: 8.83%CAP:

09/20/2019Closed: 100%Occupancy:

$52,980NOI:

4


5

8817 Grand Ave

River Grove, IL 60171





100%Occupancy:

5


6

8615 Grand Ave






83.3%Occupancy:

6


7

8914 W Grand Ave






100%Occupancy:

7

Sale Comps



2 Star Apartments

8

8710 Fullerton Ave


$505,000Sale Price: 0 AcresLot Size:

4,512 SFBuilding SF: $111.92Price PSF:

6No. Units: $84,166Price / Unit:

02/05/2018Closed: 100%Occupancy:

8


9

8300 W Grand Ave






100%Occupancy:

9


10

1686 N 1st Ave






100%Occupancy:

10


11

1430 N 1st Ave






100%Occupancy:

11

Sale Comps



1

2

3

4

5

6

7

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

110 Concord DrMelrose Park, IL 60160

$675,0003,510SF

$192.31 $112,500 7.19% 8.5 6

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

7557 W Belmont Ave

Chicago, IL60634

$942,0003,500SF

$269.14 $104,666 - - 907/16/2018

3506 Warren Ave

Bellwood, IL60104

$680,0004,000SF

$170.00 $113,333 - - 607/10/2019

2912 N 75th Ave

Elmwood Park, IL60707

$655,0005,140SF

$127.43 $109,166 - - 610/17/2018

1948 N 19th Ave

Melrose Park, IL60160

$600,0005,120SF

$117.19 $100,000 8.83% - 609/20/2019

8817 Grand Ave

River Grove, IL60171

$580,0004,548SF

$127.53 $96,666 - - 607/15/2019

8615 Grand Ave


$565,0004,500SF

$125.56 $94,166 - - 606/18/2019

8914 W Grand Ave


$560,0003,814SF

$146.83 $93,333 - - 609/18/2018

Sale Comps Summary



8

9

10

11

SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS

8710 Fullerton Ave


$505,000 4,512 SF $111.92 $84,166 - - 602/05/2018

8300 W Grand Ave


$490,000 9,552 SF $51.30 $81,666 - - 608/21/2018

1686 N 1st Ave


$475,000 6,240 SF $76.12 $79,166 - - 610/16/2020

1430 N 1st Ave


$460,000 3,810 SF $120.73 $76,666 - - 602/28/2018

PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE

Totals/Averages $592,000 4,976 SF $118.97 $94,417 8.83% - 6.27

Sale Comps Summary



110 Concord Dr | Melrose Park, IL 60160SUBJECT PROPERTY

1Chicago, IL60634

7557 W BELMONT AVE 2Bellwood, IL60104

3506 WARREN AVE

3Elmwood Park, IL60707

2912 N 75TH AVE 4Melrose Park, IL60160

1948 N 19TH AVE

5River Grove, IL60171

8817 GRAND AVE 6River Grove, IL60171

8615 GRAND AVE


8914 W GRAND AVE 8River Grove, IL60171

8710 FULLERTON AVE

Sale Comps Map



110 Concord Dr | Melrose Park, IL 60160SUBJECT PROPERTY


8300 W GRAND AVE 10Melrose Park, IL60160

1686 N 1ST AVE

11Melrose Park, IL60160

1430 N 1ST AVE

Sale Comps Map


DEMOGRAPHICS

5 | DEMOGRAPHICS

DEMOGRAPHICS MAP & REPORT

5DEMOGRAPHICS110 CONCORD DR

OFFERING MEMORANDUM


POPULATION 1 MILE 3 MILES 5 MILES

Total Population 18,178 202,166 596,295

Average age 33.9 36.7 36.4

Average age (Male) 32.9 35.6 34.8

Average age (Female) 34.1 37.7 38.0

HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES

Total households 6,117 74,842 212,518

# of persons per HH 3.0 2.7 2.8

Average HH income $85,553 $76,002 $70,907

Average house value $294,238 $328,361 $312,449

* Demographic data derived from 2010 US Census

Demographics Map & Report

110 CONCORD DR 5 | DEMOGRAPHICS

110 Concord Dr...110 CONCORD DR 4 | SALE COMPARABLES Each Office Independently Owned and Operated...

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