The Shops at Lily Cache Creek

All Sperry Van Ness® Offices Independently Owned and Operated.

Investment Property Offering

THE SHOPS AT LILY CACHE CREEK 741-769 E. Boughton Rd., Bolingbrook, IL 60440

$5,400,000

Presented By: Thomas Vincent, CCIM 1803 Hicks Rd., Suite D Rolling Meadows, IL 60008 (847)963-1031 [email protected]

Offering Highlights

Offered at 8.8% Cap Rate- 11.3% Leveraged Return

Shadow Anchors-Meijer's, Macy's & IKEA

Excellent visibility and signage

17%+ IRR for 5 year Holding Period

04/19/2010

All materials and information received or derived from Sperry Van Ness/Sentinel Realty Advisors, Inc. (Thomas S. Vincent)(hereinafter collectively “Sperry Van Ness”), its directors, officers, agents, advisors, affiliates and/or any third party sources are provided without representation or warranty by Sperry Van Ness its directors, officers, agents, advisors, or affiliates as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of the property for any party’s intended use or any and all other matters. Neither Sperry Van Ness its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy or completeness of the any materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, that may 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 of significance to such party. Sperry Van Ness will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing. 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 and investigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. Sperry Van Ness makes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. Sperry Van Ness does 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 or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. All properties and services are marketed by Sperry Van Ness in compliance with all applicable fair housing and equal opportunity laws. Sperry Van Ness/Sentinel Realty Advisors, Inc. (Thomas S. Vincent) is independently owned and operated.

The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.


Table of Contents

1 Financial Analysis

Executive Summary

Investment Information

Financial Summary

Rent Roll Summary

2 Sales Comparables

Sales Comparables Summary

Sales Comp Map

Sales Comps

Sales Comps

3 Additional Information

Location Map

4 Advisor Profile


1 . Financial Analysis


Executive Summary THE SHOPS AT LILY CACHE CREEK

741-769 E. Boughton Rd., Bolingbrook, IL 60440

List Price $5,400,000

Price Per GLA $300.67

Price Per Sq.Ft. $300.67

NOI $475,844

CAP 8.81 %

Building Sq.Ft. 17,960

Land Acres 3.01

Occupancy. 100 %

HIGHLIGHTS Offered at 8.8% Cap Rate- 11.3% Leveraged Return


Excellent visibility and signage

17%+ IRR for 5 year Holding Period

PROPERTY DESCRIPTION

Exclusively Listed By:

Thomas Vincent, CCIM (847)963-1031 [email protected]

Cross Street I-355 Tax Parcel No. 0000000000

Market Chicago Sub Market Southwest Suburbs

Year Built 2003 Building Class A

Location Class A Zoning Type Commercial

Signalized Corner No Street Frontage 120 No. of Buildings 2

No. of Stories 1 No. of Tenants 12

No. of Parking Spaces 134 Parking Ratio 7.4:1

04/19/2010

Construction Two separate buildings built in 2003, attractive masonry and steel construction. Divided into 12 spaces. Roof warranty until 2013.

Renovation Spaces have been retrofitted as needed for new tenants.

Parking 134 spaces plus cross easements.

Traffic Counts 30,700 on E. Boughton Rd. west of I-355 directly in front of the property and almost 92,000 on I-355 north of E. Boughton Rd.

Ingress/Egress Full access at signalized intersection of E. Boughton & Janes Ave.; secondary access-right in-right out only at west boundary of property.

Major Tenants Five Guys Burgers, U. S. Cellular, Great Clips

Area The intersection of I-355 and E. Boughton Rd. is a "Main and Main" intersection in Chicago's southwest suburbs. Upon completion of the Costco's new store in the northeast quadrant of the intersection there will be more than 1.5MM square feet of upscale shopping available. Property The Shops at Lily Cache Creek are class A construction in a class A location. The numerous anchors in the area- Meijer's, Macy's, IKEA and Costco should provide substantial shopping traffic in the area for many years to come.



Close Aerial View

View Northeast- The Shops at Lily Cache Creek lower section of photo, E. Boughton Rd. upper section of photo.



Investment Information THE SHOPS AT LILY CACHE CREEK 741-769 E. Boughton Rd. Bolingbrook, IL 60440

Listing Price $5,400,000

FYE 6/30/2011 CAP 8.81 %

FYE 6/30/2012 CAP 8.95 %

Price Per S.F. $300.67

Price Per GLA $300.67

Expenses Per S.F. $8.98

GLA 17,960

Building S.F. 17,960

Percent Occupied 100.00 %

Land Acres 3.01

Loan Amount $3,780,000

Down Payment $1,620,000

Loan Description 70% LTV, 6% fixed for 5 years, adjusted for 2nd 5 years with 25 year amortization schedule.

Estimated Annualized Operating Data FYE 6/30/2011

FYE 6/30/2012 FYE 6/30/2013 FYE 6/30/2014

Scheduled Income $521,169 $529,588 $539,563 $553,658

Recapture / CAM $149,576 $153,215 $157,148 $161,077

Less Vacancy $33,537 $34,145 $34,386 $35,737

Gross Operating Income $637,208 $648,658 $662,325 $678,998

Less Expenses $161,364 $165,242 $169,255 $173,479

Net Operating Income $475,844 $483,416 $493,070 $505,519

Less Loan Payment $292,255 $292,255 $292,255 $292,255

Pre-Tax Cash Flow $183,589 $191,161 $200,815 $213,264

Cash on Cash Return 11.33 % 11.80 % 12.40 % 13.16 %

Estimated Annualized Expenses Highlights

FYE 6/30/2011 FYE 6/30/2012

Projected Taxes $88,942 $91,166

Insurance $5,031 $5,157

On-Site Management $14,853 $15,093

Common Area Maintenance

$52,538 $53,826

Total Expenses $161,364 $165,242

Expenses Per S.F. $8.98 $9.20

Offered at 8.8% Cap Rate- 11.3% Leveraged Return


Excellent visibility and signage 17%+ IRR for 5 year Holding Period



Financial Summary Estimated Annualized Operating Data FYE

6/30/2011 FYE 6/30/2012 FYE 6/30/2013 FYE 6/30/2014

Scheduled Income $521,169 $529,588 $539,563 $553,658

Recapture / CAM $149,576 $153,215 $157,148 $161,077

Less Vacancy $33,537 $34,145 $34,386 $35,737

Gross Operating Income $637,208 $648,658 $662,325 $678,998

Less Expenses $161,364 $165,242 $169,255 $173,479

Net Operating Income $475,844 $483,416 $493,070 $505,519

Less Loan Payment $292,255 $292,255 $292,255 $292,255

Pre-Tax Cash Flow $183,589 $191,161 $200,815 $213,264

Cash on Cash Return 11.33 % 11.80 % 12.40 % 13.16 %

Estimated Expense Summary FYE 6/30/2011 FYE 6/30/2012 FYE 6/30/2013 FYE 6/30/2014

Total Estimated Expense $161,364 $165,242 $169,255 $173,479

Proposed Financial Summary First Mortgage

Loan Amount $3,780,000

Interest Rate 6.00%

Annual Payment $292,255

Annual Principal Reduction $67,285

Loan Type Fixed

Terms and Description 70% LTV, 6% fixed for 5 years, adjusted for 2nd 5 years with 25 year amortization schedule.


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Rent Roll Summary Space Number

Tenant Name Occupied S.F.

Annual Rent S.F.

Occupied Rent

% of Total

Escalations / Options / Comments

741 Five Guys Burgers 2,360 $30.50 $71,980 13.1 % 12% in Yr.6 Two for 5 Years each with 12% increases-each period May cancel if sales of less than $1MM in 2 consecutive semi-annual periods in first 5 years. Occupancy 9/2010.

741 B Wireless Now dba T Mobile

1,500 $27.25 $40,875 8.4 % 12% in each option period. Two for five years each with 12% increases in each period. Occupancy 10/2010.

747 The UPS Store 1,200 $27.50 $33,000 6.7 % None One 5 year option at market rent. Exercised first option in 2008.

749 Elegant Nails 1,200 $31.04 $37,248 6.7 % Annual escalations of 3%. None Exercised option in 2008.

751 Baskin Robbins 1,200 $30.00 $36,000 6.7 % 10% in Year 6. Two for 5 years each at 10% increase each period. $25,000 Letter of Credit for Security Deposit.

753 LA Tan 1,500 $25.34 $38,010 8.4 % 3% annual escalations. None Exercised option in 2008.

757 Dean's Grill 2,100 $28.15 $59,115 11.7 % 2% Annually. Two for five years each with annual increases of 2%. $9 PSF cap on Taxes and CAM excluding snow removal until 2014.

761 Lily Cache Dental 1,800 $28.98 $52,164 10.0 % 3% in 2012 for remaining lease term. Three of 5 years each. 3% increase every other year. Exercised option in 2009.


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Space Number

Tenant Name Occupied S.F.

Annual Rent S.F.

Occupied Rent

% of Total

Escalations / Options / Comments

763 U S Cellular 1,200 $35.00 $42,000 6.7 % 5.7% increase in 2011 for remaining lease term. None Exercised option in 2008.

765 Bella's Grooming & Spa 1,200 $28.40 $34,080 6.7 % 2.5% annual escalations. One for 5 years with 3% annual increases 767 Great Clips 1,200 $29.50 $35,400 6.7 % None None Exercised option in 2008.

769 Quizno's 1,500 $26.00 $39,000 8.4 % 3.8% if one year option exercised. One for one year at 3.8% increase.

17,960 $518,872 100.0 %


2 . Sales Comparables


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Sales Comparables Summary Sales Comparables - Closed

Property Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close Photo

Woodgrove Festival Outlot 1001 75th St. Downers Grove ,IL 60516

$2,000,000 2002 6,262 $319.39 4.50 % 2/10/2010 Outlot to Kohl's Store located Woodgrove Festival, a 250,000 SF center in an established shopping area only 2.6 miles from the subject. Average rent of $18 PSF. Cap rate estimated by REIS with 9% vacancy rate.

Carol Stream Shoppes II 600 E. North Ave. Carol Stream,IL 60188

$5,100,000 2007 19,378 $263.19 8.20 % 12/02/2008 Neighborhood center anchored by Starbucks and Aamco Transmission. Average rents $25PSF. 93% occupancy at sale date estimated by REIS.

Romeoville Commons 632 Weber Rd. Romeoville,IL 60446

$3,800,000 2008 14,960 $254.01 7.97 % 10/03/2008 Neighborhood center anchored by several restaurants with rents averaging $25+ PSF. Down payment of 32%. 100% occupancy estimated by REIS at sale date.

Carol Plaza 161 Schmale Rd. Carol Stream,IL 60188

$4,037,500 1991 15,000 $269.17 6.80 % 06/03/2008 Neighborhood center. Tenants include Subway and State Farm. 90% occupancy at sale date estimated by REIS.


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Property Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close Photo

Greenfield Commons 2292-2302 Indian Trail Aurora,IL 60502

$6,000,000 2006 20,612 $291.09 5.60 % 10/31/2007 Neighborhood center anchored by Factory Card Outlet. 94% occupied at sale date. Average rent of $20+/- PSF. 38% down payment.

Averages $4,187,500 2003 15,242 $279.37 6.61 %


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Averages For All Sales Comparables

Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close

Averages $4,187,500 2003 15,242 $279.37 6.61 %


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Sales Comp Map



Sales Comps

Sales Price Comparison PSF

Comparable Properties

1 Woodgrove Festival Outlot 2 Carol Stream Shoppes II 3 Romeoville Commons 4 Carol Plaza 5 Greenfield Commons



Sales Comps

CAP RATE Comparison

Comparable Properties

1 Woodgrove Festival Outlot 2 Carol Stream Shoppes II 3 Romeoville Commons 4 Carol Plaza 5 Greenfield Commons


3 . Additional Information



Aerial View Including The Promenade at Bolingbrook

View West -The Shops at Lily Cache Creek at mid right, Meijer's lower center, Promenade upper left. I-355 along lower section of photo.



Aerial Overview I-355 & E. Boughton Rd.

The Shops at Lily Cache Creek mid-left, Staples, Bed Bath & Beyond and IKEA mid-right.


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Location Map

Excellent visibility from Boughton Rd.


4 . Advisor Profile

AdvisorsSperry Van Ness Advisors

Thomas Vincent, CCIM

Thomas Vincent, CCIM Managing Director Sperry Van Ness

Tom Vincent, CCIM serves as a Managing Director for Sperry Van Ness, specializing in the sale of shopping centers and net leased properties nationwide. He also sells industrial, office and multifamily properties in Chicago and the Midwest. With over 35 years of experience, Vincent has secured over 300 transactions with a sales volume valued at over $360 million in the last nine years including numerous 1031 exchange transactions. Prior to joining Sperry Van Ness, Vincent operated Sentinel Realty Advisors, Inc. for more than five years. He owned and operated Fidelity Mortgage & Investment Corp.for over 20 years specializing in brokerage of commercial loans for all property types. He served as president and COO of Union Realty Mortgage Company and Senior Vice President HIC of Florida, a subsidary of Chase Manhattan Bank where he was instrumental in liquidating a $250MM portfolio of distressed assets. Vincent earned the CCIM designation in 1997 and is the past president (2004) of the Illinois Chapter of CCIM and a member of the International Council of Shopping Centers. Since 1991 Vincent has served as chairman of the Plan Commission for the City of Rolling Meadows, Illinois. He earned his bachelor's degree in banking and finance from the University of North Texas. Pam Vincent, CPA assists in the operation.

The Shops at Lily Cache Creek

Real Estate

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