1425 10TH STREET | WAUKEGAN, IL

HORVATHTREMBLAY

EXCLUSIVELY LISTED OFFERING • 5 UNITS • 3,631 ± SF

MULTI-FAMILYINVESTMENT

OPPORTUNITY

Horvath & Tremblay has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than Horvath & Tremblay and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

DISCLAIMER

HORVATHTREMBLAY.COM

MULTI-FAMILY TEAM

KAYLA BOGASKYMarketing AssociateDirect: (508) 259-0272kbogasky@horvathtremblay.com

LEIGH BARCAMONTEMarketing Director Direct: (781) 776-4008 lbarcamonte@horvathtremblay.com

JOSHUA VELEZBusiness ManagerDirect: (781) 776-4009 jvelez@horvathtremblay.com

ARTHUR FEDOTOVAssociateDirect: (312) 361-1646 afedotov@htapartments.com

JOHN PRZYBYLAManaging DirectorManaging Broker IL 471.010441Direct: (312) 361-1643 jprzybyla@horvathtremblay.com

COLLIN MCNAMARASenior Data AnalystDirect: (617) 721-3091cmcnamara@horvathtremblay.com

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PROPERTY HIGHLIGHTSHorvath & Tremblay is pleased to present the exclusive opportunity to purchase the multi-family investment property located at 1425 10th Street in Waukegan, Illinois (the “Property”). The three-story, brick building contains five (5) total units made up of one (1) 1-Bedroom/1-Bathroom unit, and four (4) 2-Bedroom/1-Bathroom units in 3,400 square feet of living area on a 0.72-acre parcel. The Property is well-located in a quiet residential community with ample parking, just a few blocks away from multiple parks and a forest preserve, and less than two miles from the nearest primary commercial corridor of the area (intersection of Green Bay Road and Belvidere Road). The Property offers convenient access to grocery stores, restaurants, and numerous other retail amenities. 1425 10th Street is ideally positioned for commuters with quick and convenient access to public transportation (Pace bus lines) US Highway 41, and Interstate 94 with direct access to Chicago and Milwaukee, Wisconsin. 1425 10th Street is also less than 2 miles from a public beach lining the shores of Lake Michigan.

THE ASSET

■ The Property is a three-story, brick building constructed in 1935. It contains a total of five (5) total units made up of one (1) 1-Bedroom/1-Bathroom unit, and four (4) 2-Bedroom/1-Bathroom units in 3,400 square feet of living area on a 0.72-acre parcel. The Property has ample parking.

SUPERIOR LOCATION

■ The Property is approximately 2 miles from the intersection of intersection of Green Bay Road and Belvidere Road, the area’s primary commercial corridors. The area offers convenient access to restaurants (Taco Bell, Checkers, Little Caesar’s, Wendy’s, and Pizza Hut), and other retail amenities.

■ The Property offers convenient access to public transportation options including the Pace Bus system, and the North Chicago and Waukegan Metra Stations along the UP-N Line. Additionally, US Highway 41 and Interstate 94 provide direct access into downtown Chicago and Milwaukee, WI..

EXTREME VALUE-ADD OPPORTUNITY

■ Rents in the property are below market. The opportunity exists, through programmatic upgrades to the exterior and the units, to increase rents in a supply constrained market.

EXCEPTIONAL DEMOGRAPHICS

■ More than 93,500 people live within a 3-mile radius of the Property with an average household income of over $74,639. Additionally, there are nearly 38,000 employees within a 3-mile radius of the Property.

CONSTRUCTION & AMENITIES

■ The three-story building features a brick construction, considered a low-cost, low maintenance exterior due to its durability, color retention, fire containment, and storm protection.

■ The Property offers ample off-street parking.

SEPARATE UTILITIES

■ Each unit is separately metered for electricity, heat, and hot water, which the Tenants pay directly. The Landlord is responsible for water and sewer.

TYPE UNITS % OF TOTAL BEDROOMS BATHROOMS

1 BED / 1 BATH 1 20% 1 1

2 BED / 1 BATH 4 80% 8 4

TOTAL 5 100% 9 5

LIST PRICE: $350,000NET OPERATING INCOME: $26,296

CAP RATE: 7.51%

PRICE PER UNIT: $70,000

PRICE PER SQ FT (GLA): $96

142510TH STREET

5 RESIDENTIAL UNITS

4TWO BEDROOM UNITS

1ONE BEDROOM UNIT

PROPERTY DETAILS

PROPERTY ADDRESS: 1425 10th Street - Waukegan, IL

NUMBER OF UNITS: 5 Units

YEAR BUILT: 1935

LAND AREA: 0.72 acres

LEASABLE AREA: 3,631 SF

GROSS AREA: 31,211 SF

PARKING: Yes

BUILDING CONSTRUCTION

EXTERIOR Brick

ROOF Pitched

BUILDING UTILITIES

HEATING Gas Tenant Responsible

HOT WATER Gas Tenant Responsible

ELECTRIC Separately Metered Tenant Responsible

WATER City of Lake Bluff Landlord Responsible

SEWER City of Lake Bluff Landlord Responsible

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DETAILS # OF BEDS # OF BATHS CURRENT

1 1 BD 1 BA $700

2 2 BD 1 BA $800

3 2 BD 1 BA $775

4 2 BD 1 BA $750

5 2 BD 1 BA $750

TOTAL $3,775

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RENT ROLL

$26,296NET OPERATING INCOME

INCOME & EXPENSES

INCOME CURRENT PER UNIT

Gross Potential Income $45,300 $9,060

Vacancy Loss (3.00%) ($1,359) ($272)

Effective Gross Income $43,941 $8,788

EXPENSES

Real Estate Taxes $10,174 $2,035

Insurance $1,500 $300

Water/Sewer $2,110 $422

Common Area Electric $133 $27

Gas $595 $119

Landscaping/Snow $500 $100

Trash Removal $2,134 $427

Repairs & Maintenance $500 $100

Total Expenses $17,645 $3,529

Net Operating Income $26,296 $5,259

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PROPERTY PHOTOGRAPHS

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PROPERTY PHOTOGRAPHS

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SITE PLAN 10TH STREET

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CRISTO REYST. MARTIN

COLLEGE PREPS

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DUGDALEPARK

JOHN LEWISMIDDLE SCHOOL

CORRINE J. ROSE PARK

GREENBELT FOREST PRESERVE

BELVIDERE ROAD

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BELVIDERE ROAD

AREA LOCATION MAP 10

OVERVIEW

Waukegan, Illinois, is the largest city in, and the county seat of Lake County, Illinois, United States. Located approximately halfway between Downtown Chicago and Milwaukee Mitchell International Airport, Waukegan is situated within the Chicago Metropolitan Area and classified as a satellite city of Chicago. As of the 2010 census, the population of the city was 89,078 making it the tenth most populous city in Illinois. Waukegan is a predominantly working-class community, with a moderately sized middle-class population. The City has plans for redevelopment of its shoreline bordering Lake Michigan (the “Lakefront”) The Lakefront and harbor plan calls for most industrial activity to be removed, except for the Midwest Generation power plant and North Shore wastewater treatment facilities. The existing industry would be replaced by residential and recreational space. The city also set up several tax increment financing zones which have been successful in attracting new developers. The first step in the revitalization effort, the opening of the Genesee Theatre, has been completed, many new restaurants have opened, buildings have been renovated, and the City of Waukegan has made substantial investments in the pedestrian areas and other infrastructure.

93,500+ 45,500+ $66,500+PEOPLE WITHIN 3 MILES AVERAGE HOUSEHOLD INCOMEEMPLOYEES WITHIN 3 MILES

WAUKEGAN | IL1 MI 2 MI 3 MI Waukegan

POPULATION

2021 Estimated 20,481 56,951 93,536 86,876

2026 Projected 19,495 54,513 89,697 83,261

2010 Census 21,236 59,462 97,506 89,150

BUSINESS

2021 Est, Total Businesses 329 1,178 2,488 2,342

2021 Est. Total Employees 4,822 15,343 45,878 37,772

HOUSEHOLDS

2021 Estimated 5,577 15,558 26,740 28,489

2026 Projected 5,521 15,432 26,577 28,441

2010 Census 5,596 15,435 26,427 28,153

INCOME

Average Household Income $56,904 $62,237 $66,992 $74,639

Median Household Income $41,524 $42,474 $48,073 $54,012

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