multi tenant retail center - LoopNet

multi tenant retail centerCONFIDENTIAL OFFERING MEMORANDUM

LOCKPORT, IL (CHICAGO MSA)

BRADFORD DESSYAssociate, Investment SalesO +1 312 234 0333D +1 312 414 1254C +1 310 936 [email protected]

GREENSTONE PARTNERS747 North LaSalle StreetSuite 450Chicago, IL 60654+1 312 234 0333www.Greenstone-Partners.com

This Investment Offering Memorandum has been prepared by Greenstone Partners for use by a limited number of parties, and do not purport to provide a necessarily accurate summary of the Property or any of the documents related thereto, nor do they purport to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projections have been developed by Seller, Greenstone Partners and designated sources, and are based upon assumptions relating to the general economy, competition and other factors beyond the control of Seller, and therefore are subject to variation. No representation is made by Seller or Greenstone Partners as to the accuracy or completeness of the information contained herein, and nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Seller and its officers, directors and employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Greenstone Partners, Seller and its officers, directors and employees disclaim any and all liability for representations and warranties, expressed and implied, contained in, or omission from, the Investment Offering Memorandum, Argus model, or any other written or oral communication transmitted or made available to the recipient. The Investment Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or Seller since the date or preparation of the Investment Offering Memorandum. Analysis and verification of the information contained in the Investment Offering Memorandum is solely the responsibility of the prospective purchaser.

Additional information and an opportunity to inspect the Property will be made available upon request by interested and qualified prospective investors.

Seller and Greenstone Partners each expressly reserve the right, at their sole discretion, to reject any and all expressions of interest or offers regarding the Property and/or terminate discussions with any entity at any time with or without notice. Seller shall have no legal commitment or obligation to any entity reviewing the Investment Offering Memorandum or making an offer to purchase the Property unless and until such offer is approved by Seller, a written agreement for the purchase of the Property has been fully executed, delivered and approved by Seller and its legal counsel and any conditions to Seller’s obligations thereunder have been satisfied or waived.

This Investment Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Investment Offering Memorandum and Argus model, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not to disclose the Investment Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you if necessary, for your determination of whether or not to make a proposal and from whom you have obtained an agreement of confidentiality) without the prior written authorization of Seller or Greenstone Partners, and that you will not use the Investment Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of Seller or Greenstone Partners. If you do not have any interest in the Property at this time, please return the Investment Offering Memorandum forthwith.

confidentiality agreement

JASON ST.JOHNFounding PartnerO +1 312 234 0333D +1 312 234 0371C +1 312 523 [email protected]

JON HEGWOODVice President, Investment SalesO +1 312 234 0333D +1 312 614 1499C +1 414 550 [email protected]

MICHAEL GENDELLAssociate, Investment SalesO +1 312 234 0333D +1 312 448 2132C +1 847 849 [email protected]

JONNY LEFKOAssociate, Investment SalesO +1 312 234 0333D +1 312 414 1252C +1 913 972 [email protected]

LEO SOLARTE, MSREFounding PartnerO +1 312 234 0333D +1 312 234 0387C +1 773 908 [email protected]

LEAD INVESTMENT ADVISOR

DANNY SPITZPartnerO +1 312 234 0333D +1 312 234 0360C +1 847 707 [email protected]

GREG DIETZPartnerO +1 312 234 0333D +1 312 414 1255C +1 312 833 [email protected]

offering procedure

Greenstone Partners is the exclusive listing agent of the Property. The prospective Purchaser will be selected by the Seller by its sole discretion based on a variety of factors including, but not limited to:

PROPERTY INQUIRIES & TOURSAll Property inquiries should be directed to Greenstone Partners. All property tours are by appointment only and are to be scheduled through Greenstone Partners.

PROSPECTIVE PURCHASERSOwnership will be selling the property in an "As Is, Where Is" condition. Offers will be responded to on a "First Come, First Served" basis. No formal call for offers date is currently contemplated; however, this is subject to change based on ownership’s discretion.

Offering Price

Absence of contingencies

Due Diligence and closing time

Financial strength and track record

Proof of funds for a financed or all-cash transaction

Earnest money deposit(s) and timing to become non-refundable

Confirmation of full underwriting based on materials provided in the Due Diligence Vault

3CONFIDENTIAL OFFERING MEMORANDUMGREENSTONE PARTNERS

MULTI TENANT RETAIL CENTERLOCKPORT, IL (CHICAGO MSA)

THE OFFERING THE TENANCY THE LOCATION THE NUMBERSTHE DETAILSTHE OFFERING

Greenstone Partners have been retained as the exclusive advisors to sell the 100% fee-simple interest in Regency Point (the “Investment”/”Property”), located at 1025-1069 East Ninth Street, Lockport, a suburb of Chicago located just 40 minutes southwest of Downtown Chicago. The 100% leased multi-tenant retail Investment is comprised of 54,736 square feet of contiguous retail space, situated on 6 acres on the south side of East Ninth Street, just one mile east of Downtown Lockport.

The Property is comprised of 18 tenants, 50% of whom are national brands. 16 of the 18 tenants at the Property provide e-commerce resistant products and services, insuring their success and longevity at the Property. 50% of the gross leasable area is leased to the two anchor tenants, Ace Hardware and Planet Fitness, who have 5 and 10 years left remaining respectively. Over 25% of the tenants have leased their spaces for over 20 years. Additionally, the Property is host to remarkably strong tenants whose headquarters are based in the Chicagoland area, such as Ace Hardware, ATI Physical Therapy, Blackhawk Restaurant Group, and Rosati’s Pizza.

The Property represents an exceptional opportunity to acquire a long-term, national tenanted, historically proven and stable Investment.

investment summary

OFFERING TERMS

OFFERING PRICE $7,500,000

CAP RATE 8.56%

CASH-ON-CASH 12.55%

NET OPERATING INCOME $642,191

GLA – SF 54,736 Sq. Ft.

# OF TENANTS 18

OWNERSHIP OFFERED Fee-Simple, Free & Clear

MARKET / COUNTY Chicago MSA / Will County

SUBMARKET Southwest Suburban

ADDRESS 1025-1069 East 9th Street, Lockport, IL 60441



THE OFFERING THE TENANCY THE LOCATION THE NUMBERSTHE DETAILSTHE OFFERING

NATIONAL + DIVERSE TENANT ROSTER 78% of the Property is leased to national brands/tenants. The shopping center offers a wide-array of products and services such as a gym, food, coffee, financial services, and healthcare to name a few. The unique mix of tenants creates a great opportunity for businesses to benefit from strong consumer cross-traffic.

LONG-STANDING TENANT COMMITMENT Ace Hardware, the Property’s anchor tenant has occupied the center for 27 years and recently, renovated and extended its lease for an additional 5 years of term. In addition to Ace, 6 out of 18 of the tenants have been at the property for 10+ years.

SECURE + CONSISTENT CASHFLOW At the going-in 8.56% capitalization rate, the Investment offers a 12%+ year one cash-on-cash return and offers limited downside as the tenants’ lease expirations are staggered.

MAIN RETAIL THOROUGHFARE 9th Street (also known as 159th) is the submarket’s major East/West retail corridor with neighboring retailers such as Walmart, Jewel-Osco, Aldi, Chase Bank, PNC, Starbucks, McDonald’s and AutoZone to name a few. In addition, the Property is less than 2 miles from Interstate, I-355 and 28 miles from Chicago’s Midway International Airport.

STRONG INCOMES + LOW RE TAXES Average household incomes within a 1-mile and 3-mile radius exceed $92,000. Real estate taxes in Will County are a mere fraction of those in neighboring Cook County. Will County is home to 692,000 residents, which is Illinois’ fourth largest county.

AMAZON RESISTANT Tenancy is e-commerce resistant as they are service or food oriented, further safeguarding against online retail growth.

investment highlights

NATIONAL + DIVERSE TENANT

ROSTER

LONG-STANDINGTENANT

COMMITMENT

SECURE + CONSTANTCASHFLOW

MAIN RETAILTHOROUGHFARE

STRONG INCOMES+ LOW RE TAXES

AMAZONRESISTANT


THE OFFERING THE TENANCY THE LOCATION THE NUMBERSTHE DETAILS


THE OFFERING

site plan1. Dunkin’ Donuts2. ATI Physical Therapy3. WIlliam Drew Law4. U.S. Post Office5. Edward Jones6. Brown’s Chicken

7. City Nails8. Smokey Top9. Rosati’s Pizza10. Dina’s Great Cuts11. Subway12. Fairman’s Accounting

13. Ace Hardware14. Penny’s15. Moo Do Kwan16. Secretary of State17. RE/Max18. Planet Fitness


MULTI TENANT RETAILLOCKPORT, IL (CHICAGO MSA) 14OFFERING MEMORANDUM

GREENSTONE PARTNERS

THE OFFERING THE TENANCY THE LOCATION THE NUMBERSTHE DETAILSTHE DETAILS

LEAD INVESTMENT ADVISOR

© Copyright 2018 Greenstone Partners. Information herein has been obtained from sources believed reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the market. This information is designed exclusively for use by Greenstone Partners' clients, and cannot be reproduced without prior written permission of Greenstone Partners.

multi tenant retail center CONFIDENTIAL OFFERING MEMORANDUM

BRADFORD DESSYAssociate, Investment SalesO +1 312 234 0333D +1 312 414 1254C +1 310 936 [email protected]

GREENSTONE PARTNERS747 North LaSalle StreetSuite 450Chicago, IL 60654+1 312 234 0333www.Greenstone-Partners.com

JASON ST.JOHNFounding PartnerO +1 312 234 0333D +1 312 234 0371C +1 312 523 [email protected]

JON HEGWOODVice President, Investment SalesO +1 312 234 0333D +1 312 614 1499C +1 414 550 [email protected]

MICHAEL GENDELLAssociate, Investment SalesO +1 312 234 0333D +1 312 448 2132C +1 847 849 [email protected]

JONNY LEFKOAssociate, Investment SalesO +1 312 234 0333D +1 312 414 1252C +1 913 972 [email protected]

LEO SOLARTE, MSREFounding PartnerO +1 312 234 0333D +1 312 234 0387C +1 773 908 [email protected]

DANNY SPITZPartnerO +1 312 234 0333D +1 312 234 0360C +1 847 707 [email protected]

GREG DIETZPartnerO +1 312 234 0333D +1 312 414 1255C +1 312 833 [email protected]

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