FLOSSMOOR PORTFOLIO - LoopNet · • 8.3% Cap Rate • 10,250 SF & 3,000 SF Mixed Use Buildings •...

SVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607 OFFERING MEMORANDUM

FLOSSMOORPORTFOLIO1030 & 1036 STERLING AVEFLOSSMOOR, IL 60422

Tim Rasmussen, CCIMAssistant Vice [email protected]

Marcus SullivanAssistant Vice [email protected]

Shane SackettAssociate [email protected]

OFFERING MEMORANDUMSVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607

PROPERTY INFORMATION 3Executive SummaryProperty DescriptionAdditional PhotosAdditional Photos

LOCATION INFORMATION 8Aerial MapRegional Map

FINANCIAL ANALYSIS 11Financial SummaryIncome & Expenses

DEMOGRAPHICS 14Demographics ReportDemographics Map

1030 & 1036 Sterling Ave | Flossmoor, IL 60422

FLOSSMOOR PORTFOLIOFOR SALE | MIXED-USE

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

1 PROPERTY INFORMATION11 PROPERTY

INFORMATION1030 & 1036 Sterling Ave

Flossmoor, IL 60422

FLOSSMOOR PORTFOLIO | 1030 & 1036 STERLING AVE FLOSSMOOR, IL 60422 SVN | Chicago Commercial |

OFFERING SUMMAROFFERING SUMMARYY

Sale Price: $1,325,000

Number Of Units: 11

Cap Rate: 8.3%

NOI: $109,966

Lot Size: 0.23 Acres

Year Built: 1927

Building Size: 13,250

Zoning: B-5 Central Business

District

Market: Chicago

Submarket: South Suburban

Price / SF: $100.00

The subject properties consist of two fully leased mixed-use buildings. The property located at 1036 Sterling Avenue is a 3,000 SFtwo-story, masonry constructed mixed use building with one commercial unit and one residential dwelling. The building was built in1927 and has been fully modernized. The 1030 Sterling Ave property is a 10,250 SF one and part two-story, masonry constructedmixed use building containing five commercial units and four residential dwellings. The buildings have been very well maintained andoffer a rich blend of Tudor style architectural details. These are ideal investment properties for an investor looking for a long-termhold in an irreplaceable location.

Both properties benefit from the favorable Cook County mixed-use tax classification in which the properties are assessed at 10% ofmarket value versus 25% for commercial buildings. This favorable tax treatment provides a competitive market rental rateadvantage over the competition.

PROPERPROPERTTY OY OVERVERVIEWVIEW

PROPERPROPERTTY HIGHLIGHTSY HIGHLIGHTS

• 8.3% Cap Rate

• 10,250 SF & 3,000 SF Mixed Use Buildings

• Combined 74 Feet of Retail Frontage on Sterling Ave

• Flossmoor Central Business District

• Cook County Assessor 2-12 and 3-18 Mixed-Use Classification

• Directly across the street from the Metra's Flossmoor station

• Quick access to Interstate 57 & 94


Executive Summary


The subject properties consist of two fully leased mixed-use buildings. The property located at 1036

Sterling Avenue is a 3,000 SF two-story, masonry constructed mixed use building with one commercial

unit and one residential dwelling. The building was built in 1927 and has been fully modernized. The 1030

Sterling Ave property is a 10,250 SF one and part two-story, masonry constructed mixed use building

containing five commercial units and four residential dwellings. The buildings have been very well

maintained and offer a rich blend of Tudor style architectural details. These are ideal investment

properties for an investor looking for a long-term hold in an irreplaceable location.

Both properties benefit from the favorable Cook County mixed-use tax classification in which the

properties are assessed at 10% of market value versus 25% for commercial buildings. This favorable tax

treatment provides a competitive market rental rate advantage over the competition.

PROPERPROPERTTY OY OVERVERVIEWVIEW

The subject properties are located at 1036 and 1030 Sterling Ave. in the Village of Flossmoor, Illinois. The

community is home to nearly 10,000 individuals and approximately 30 miles south of Chicago. Founded in

the late 1890s, Flossmoor has been recognized for its prestigious country clubs and sprawling golf

courses. Within a one-mile radius, there are approximately 4,000 households with an average annual

household income of $116,721, and an average house value of $287,782.

The properties are immediately across the street from the Metra Electric (ME) Flossmoor Station and in the

heart of Flossmoor's Central Business District. Surrounded by local, regional, and national tenants,

including: Flossmoor Station Restaurant & Brewery, Grove Law, Healthy Hounds, Cutter's for Men, Pop'n

By, Wendy Schweinfurth, OD & Judy Johnson, DDS, and Tovar Shoe Repair.

LLOCOCAATION OTION OVERVERVIEWVIEW

Property Description


Additional Photos




2 LOCATION INFORMATION22 LOCATION

INFORMATION1030 & 1036 Sterling Ave

Flossmoor, IL 60422



Aerial Map


Regional Map


3 FINANCIAL ANALYSISFOR SALE | MIXED-USE


3 FINANCIAL ANALYSIS3 FINANCIAL

ANALYSIS1030 & 1036 Sterling Ave

Flossmoor, IL 60422


INVESINVESTMENT OTMENT OVERVERVIEWVIEW 1030 AND 1036 S1030 AND 1036 STERLINGTERLING

Price $1,325,000Price per Unit $120,454GRM 6.5CAP Rate 8.3%Cash-on-Cash Return (yr 1) 14.13 %Total Return (yr 1) $60,105Debt Coverage Ratio 1.52

OPERAOPERATING DTING DAATTAA 1030 AND 1036 S1030 AND 1036 STERLINGTERLING

Gross Scheduled Income $204,203Other Income -Total Scheduled Income $204,203Vacancy Cost $10,210Gross Income $204,203Operating Expenses $84,027Net Operating Income $109,966Pre-Tax Cash Flow $37,447

FINANCING DFINANCING DAATTAA 1030 AND 1036 S1030 AND 1036 STERLINGTERLING

Down Payment $265,000Loan Amount $1,060,000Debt Service $72,519Debt Service Monthly $6,043Principal Reduction (yr 1) $22,658


Financial Summary

INCINCOME SUMMAROME SUMMARYY 1030 AND 1036 S1030 AND 1036 STERLINGTERLING PER SFPER SF

Commercial Income $127,703 $9.64Residential Income $76,500 $5.77

GrGross Ioss Incncomeome $204,203$204,203 $15.4$15.411

EXPENSE SUMMAREXPENSE SUMMARYY 1030 AND 1036 S1030 AND 1036 STERLINGTERLING PER SFPER SF

Real Estate Taxes $45,592 $3.44Utilities/Alarm/Pest $4,833 $0.36Insurance $4,820 $0.36Water $3,495 $0.26Scavenger $3,123 $0.24Repairs and Maintenance $8,276 $0.62Snow Removal $400 $0.03Parking $2,720 $0.21Licenses & Fees $100 $0.01Management Fees $8,168 $0.62Unit Reserves $2,500 $0.19

GrGross Expensesoss Expenses $84,$84,027027 $6.34$6.34

NNeet Opert Operaating Iting Incncomeome $109$109,,966966 $8.30$8.30


Income & Expenses




4 DEMOGRAPHICS44

DEMOGRAPHICS1030 & 1036 Sterling Ave

Flossmoor, IL 60422


1 MILE1 MILE 2 MILES2 MILES 3 MILES3 MILES

Total population 10,246 34,703 83,587

Median age 41.0 40.8 39.5

Median age (male) 38.2 38.8 37.3

Median age (female) 43.4 41.9 41.0

Total households 3,825 12,761 29,925

Total persons per HH 2.7 2.7 2.8

Average HH income $116,912 $97,123 $83,613

Average house value $288,110 $256,737 $227,704

* Demographic data derived from 2010 US Census


Demographics Report

POPULAPOPULATIONTION 1 MILE1 MILE 2 MILES2 MILES 3 MILES3 MILES

Total population 10,246 34,703 83,587

Median age 41.0 40.8 39.5

Median age (male) 38.2 38.8 37.3

Median age (Female) 43.4 41.9 41.0

HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 1 MILE1 MILE 2 MILES2 MILES 3 MILES3 MILES

Total households 3,825 12,761 29,925

# of persons per HH 2.7 2.7 2.8

Average HH income $116,912 $97,123 $83,613

Average house value $288,110 $256,737 $227,704

* Demographic data derived from 2010 US Census

Demographics Map


FLOSSMOOR PORTFOLIO - LoopNet · • 8.3% Cap Rate • 10,250 SF & 3,000 SF Mixed Use Buildings •...

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