An Investment Offering 149-57 S. HALSTED ST., CHICAGO ... · 149-57 s. halsted st., chicago...

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.




CHET KONDAS

PRESENTED BY:


1. PROPERTY INFORMATION

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


SECTION 1. PROPERTY INFORMATION (PRO-FORMA)


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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




CHET KONDAS

PRESENTED BY:


2. LOCAT ION INFORMATION


33realty.com

149-57 S. Halsted St.,Chicago Heights, IL 60411


SECTION 1. LOCATION INFORMATION


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149-57 S. HALSTED ST., CHICAGO HEIGHTS, IL 60411SECTION 1. LOCATION INFORMATION




CHET KONDAS

PRESENTED BY:


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


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


SECTION 1. FINANCIAL ANALYSIS




CHET KONDAS

PRESENTED BY:


4. DEMOGRAPHICS


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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

An Investment Offering 149-57 S. HALSTED ST., CHICAGO ... · 149-57 s. halsted st., chicago...

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