An Investment Offering 149-57 S. HALSTED ST., CHICAGO ... · 149-57 s. halsted st., chicago...
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An Investment Offering
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411
MANAGING [email protected]
SEAN [email protected]
CHET KONDAS
PRESENTED BY:
This information is given without representation or warranty. It should be verified independently and is subject tochange, correction, prior sale, lease or withdrawal without notice.
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149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411
MANAGING [email protected]
SEAN [email protected]
CHET KONDAS
PRESENTED BY:
This information is given without representation or warranty. It should be verified independently and is subject tochange, correction, prior sale, lease or withdrawal without notice.
1. PROPERTY INFORMATION
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MORE INFORMATION AVAILABLE ONLINE:
33realty.com
33 Realty is proud to present this unique investment opportunity located in Chicago Heights on theheavily trafficked (24,000 Vehicles Per Day) Halsted Ave. The property has two buildings, one is 6,200 SFwith 3 retail spaces and the other is a warehouse building (located in the rear) with 12,600 SF divided intotwo units. The property has a total leaseable area of 18,800 SF and 39,107 SF in land.
The front building is occupied with a mix of non-national tenants and include a hair salon, a car audiocompany, a parking company, and the current owner's insurance company. The 12,600 SF warehousebuilding is occupied by an auto repair business and a shirt printing company.
The property is offered at an asking price of $270,000 and is currently bank owned. There is anopportunity to create value and drive additional revenue through leasing the vacant units. This is idealfor a buyer who intends to use this as a business location or as an investor who is seeking to increase thecurrent strong income and add more tenants to the already diverse tenant base.
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411CHICAGO HEIGHTS, IL
SECTION 1. PROPERTY INFORMATION
PROPERTY SUMMARY
EXECUTIVE SUMMARY
Price: $270,000
Lot Size: 39,107 SF
Building Size: 18,800 SF
Year Built: 1968
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HIGHLIGHTS
Bank Owned Property with huge upside to increase already strong revenue by leasing vacant space
Total of 2 buildings: 6,200 SF retail space and a 12,600 SF warehouse with 12 ft. ceilings.
Located on heavily trafficked Halsted Ave. with 24,000 vehicles per day.
Strong location on Halsted Ave. commercial corridor.
Nearby businesses include: Prairie state College, McDonald's, Salvation Army, Helsel-Jepperson ElectricalWholesale Supplier, and Chicago Heights Golf Course.
Plenty of off-street parking with 13 spots.
Currently zoned as B-2, Limited Service Business District.
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411SECTION 1. PROPERTY INFORMATION
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149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411CHICAGO HEIGHTS, IL
SECTION 1. PROPERTY INFORMATION (PRO-FORMA)
MORE INFORMATION AVAILABLE ONLINE:
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TENANTNAME
UNITNUMBER
UNITSIZE (SF)
POTENTIAL MARKETRENT
% OFGLA
Camara Hair Braiding 151 S Halsted Ave 1,330 $9,589 7.07
Alist Music 155-157A S Halsted Ave 1,100 $9,603 5.85
Premier Auto Repair 149 S Halsted Ave 9,600 $16,224 51.06
Shirt printers 155 S Halsted Ave. 3,000 $10,800 15.96
Limo Service 153 S. Halsted 1,330 $9,310 7.07
Dirty Dye Ana Retail #2 1,330 $10,800 7.07
Vacant Retail #3 1,330 $0 7.07
Totals/Averages 19,020 $66,326
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149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411
MANAGING [email protected]
SEAN [email protected]
CHET KONDAS
PRESENTED BY:
This information is given without representation or warranty. It should be verified independently and is subject tochange, correction, prior sale, lease or withdrawal without notice.
2. LOCAT ION INFORMATION
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MORE INFORMATION AVAILABLE ONLINE:
33realty.com
149-57 S. Halsted St.,Chicago Heights, IL 60411
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411CHICAGO HEIGHTS, IL
SECTION 1. LOCATION INFORMATION
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MORE INFORMATION AVAILABLE ONLINE:
33realty.com
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411SECTION 1. LOCATION INFORMATION
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MORE INFORMATION AVAILABLE ONLINE:
33realty.com
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411SECTION 1. LOCATION INFORMATION
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149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411
MANAGING [email protected]
SEAN [email protected]
CHET KONDAS
PRESENTED BY:
This information is given without representation or warranty. It should be verified independently and is subject tochange, correction, prior sale, lease or withdrawal without notice.
3. F INANCIAL ANALYS IS
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INVESTMENT OVERVIEW ACTUAL PRO FORMA
Price $270,000 $270,000
Price per SF $14.36 $14.36
CAP Rate 14.19% 19.29%
Cash-on-Cash Return (yr 1) 87.87% 142.97%
Total Return (yr 1) $27,395 $41,169
Debt Coverage Ratio 2.34 3.19
OPERATING DATA ACTUAL PRO FORMA
Gross Scheduled Income $66,326 $90,110
Other Income - -
Total Scheduled Income $66,326 $90,110
Vacancy Cost ($0) ($6,308)
Gross Income $66,326 $83,802
Operating Expenses $28,017 $31,719
Net Operating Income $38,309 $52,083
Pre-Tax Cash Flow $21,968 $35,742
FINANCING DATA ACTUAL PRO FORMA
Down Payment $25,000 $25,000
Loan Amount $245,000 $245,000
Debt Service $16,341 $16,341
Debt Service Monthly $1,361 $1,361
Principal Reduction (yr 1) $5,427 $5,427
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411CHICAGO HEIGHTS, IL
SECTION 1. FINANCIAL ANALYSIS
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INCOME SUMMARY ACTUAL % OF SGI PER SF PRO FORMA % OF SGI PER SF
Current Rental Income $66,326 100.0% $3.53 - 0.0% -
Market Rental Income - 0.0% - $90,110 100.0% $4.79
TOTAL INCOME $66,326 $3.53 $90,110 $4.79
EXPENSE SUMMARY ACTUAL % OF SGI PER SF PRO FORMA % OF SGI PER SF
Property Management $5,306 8.0% $0.28 $7,208 8.0% $0.38
RE Taxes (50% paid by Tenants) $12,711 19.2% $0.68 $12,711 14.1% $0.68
Insurance (50% paid by Tenants) $1,200 1.8% $0.06 $1,800 2.0% $0.10
Repairs and Maintenance $2,500 3.8% $0.13 $3,500 3.9% $0.19
Utilities (common areas) $600 0.9% $0.03 $800 0.9% $0.04
Water / Sewer (Tenants pay) $0 0.0% $0.00 $0 0.0% $0.00
Snow Removal / Landscaping $1,200 1.8% $0.06 $1,200 1.3% $0.06
Legal and Accounting $1,500 2.3% $0.08 $1,500 1.7% $0.08
Cap Ex Reserves $1,000 1.5% $0.05 $1,000 1.1% $0.05
Lease Commissions / Marketing $2,000 3.0% $0.11 $2,000 2.2% $0.11
OPERATING EXPENSES $28,017 42.2% $1.49 $31,719 35.2% $1.69
NET OPERATING INCOME $38,309 $2.04 $52,083 $2.77
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411CHICAGO HEIGHTS, IL
SECTION 1. FINANCIAL ANALYSIS
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149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411
MANAGING [email protected]
SEAN [email protected]
CHET KONDAS
PRESENTED BY:
This information is given without representation or warranty. It should be verified independently and is subject tochange, correction, prior sale, lease or withdrawal without notice.
4. DEMOGRAPHICS
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33realty.com
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411SECTION 1. DEMOGRAPHICS
1 MILE 3 MILES 5 MILES
Total households 3,524 25,362 65,598
Total persons per hh 2.9 2.8 2.8
Average hh income $68,865 $68,372 $66,643
Average house value $161,225 $192,362 $195,842
1 MILE 3 MILES 5 MILES
Total population 10,164 72,223 181,938
Median age 37.9 36.4 37.0
Median age (male) 35.4 34.0 35.0
Median age (female) 40.1 38.6 38.5
* Demographic data derived from 2010 US Census
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* Demographic data derived from 2010 US Census
1 Mile 3 Miles 5 Miles
Total Population 10,164 72,223 181,938
Population Density 3,235 2,554 2,317
Median Age 37.9 36.4 37.0
Median Age (Male) 35.4 34.0 35.0
Median Age (Female) 40.1 38.6 38.5
Total Households 3,524 25,362 65,598
# of Persons Per HH 2.9 2.8 2.8
Average HH Income $68,865 $68,372 $66,643
Average House Value $161,225 $192,362 $195,842
149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411SECTION 1. DEMOGRAPHICS
