The PDf - Envision Realty Advisors

FOR SALE | SINGLE TENANT
17W170 22nd Street | Oakbrook Terrace, IL
OFFERING MEMORANDUM
PROPERTY OVERVIEW
INVESTMENT SUMMARY
OFFERING SUMMARY
Savills Studley’s Retail Investment Group is please to present a unique
single tenant NNN opportunity in the affluent suburb of Oakbrook Terrace, IL. The property is located along the primary commercial corridor
that is home to luxury brands Neiman Marcus, Louis Vuitton , Nordstrom, Burberry, and Tiffany & Co. to name a few. With over 102,665
residents with an average HH income of $110,273 within 3 miles, this
offering is poised for long term growth and stability for an investor.
PROPERTY SUMMARY
Address
17W170 22nd Street
Oakbrook Terrace, IL 60181
APN
06-22-415-015
Gross Building Area
4,953 SF
Land Area
23,113 SF / .53 acres
Year Built/Renovation
1986/2002
Zoning
Commercial
Asking Price
$2,428,849
Cap Rate
8.5%
Year 1 NOI
$206,452
Total Square Feet
4,953
Price Per SF
$490.38
Occupancy
100%
Lease Expiration
January 31, 2017
Options
Three (3) Five (5) Year
Lease Type
Fee Simple - NNN
[1]
[1] LL responsible for roof, structure, foundation
Rent Roll
Tenant
Bijou Bridal
Size
[1]
Lease Start Lease Expiration
Annual Rent
4,953
Feb-02
Jan-17
$206,452.20
Option 1
Feb-17
Jan-22
$247,743.00
Option 2
Feb-22
Jan-27
$297,292.06
Option 3
Feb-27
Jan-32
$356,750.47
[1] Bijou Bridal is subleasing from David’s Bridal
INVESTMENT HIGHLIGHTS
•Affluent & Dense Trade Area – Over 22,500,
102,665, 197,385 residents with an average HH income
of $115,824, $110,273, $107,126 reside within a 1,3,5
mile radius respectively from investment offering.
•Ease of Management – Offering is pure NNN with
no landlord responsibilities known.
•Recession Proof Tenant – Every year in the
United States, there are approximately 2.5 million
weddings. This industry has grown to a staggering $40
billion industry per year.
•Located Along Primary Commercial Corridor
– Property fronts West 22nd Street, the primary
commercial corridor of Oakbrook Terrace that carries
over 44,100 CPD
•Close Proximity to Oakbrook Center – With
over 2 million square feet of luxury retail, General
Growths Oakbrook Center is home to the first Midwest
Nordstrom. Other notable luxury brands include
Neiman Marcus, Louis Vuitton, Burberry, Tiffany & Co.,
J Crew, Hugo Boss, and Lord & Taylor to name a few.
•Good Retail Synergy – In addition to the close
proximity of Oakbrook Center, the property benefits
from being adjacent to REI and across from the areas
only Costco
Cook
12
20
294
N W olf Rd
Yorkfield
Highland Hills
Westchester
W 22nd St
17W170 22nd Street
Oakbrook Terrace, IL
Midwest Rd
Rd
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nl
I L-83 S
S Garfield St
Cook
DuPage
W St Charles Rd
§
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294
S Villa Ave
Utopia
E 22nd St
W
Meyers Rd
d
Rd
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I L-83 S
N Cass Ave
Main St
55th St
Fairview Ave
Westmont
S Cass Ave
Park
3
B elmont Rd
Clarendon
Hills
W Ogd en
Ave
La Grange
Western Springs
Hinsdale
83
T
S
W 47th St
£
¤
12
General
Motors
Electro-Motive
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Downers Grove
Hinsdale
Golf Club
Chicago Ave
Brookfield
La Grange Park
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Maple Av e
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ge Rd
355
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W 55th St
Wolf Rd
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¨
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2,001 - 5,000
31st St
g
DuPage
5,001 - 7,000
Belmont
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34
Lisle
7,001 - 9,000
Sp
£
¤
34
9,001 - 12,000
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12,001
Lisle - 15,000
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15,000+
W Roosevelt Rd
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IL-110 W Mile
88 IL-110 E
Per Square
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15
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T
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Population
Density
Arboretum
Arboretum
Maywood
Rd
Bellwood
17W170 22nd Street
Oakbrook Terrace, IL
d
York R
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W 22nd St
Adams Rd
IL
-5
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Queen of
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Cemetery
Melrose Park
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56
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S Park Blvd
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S Meyers Rd
38
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Village
links of
Glen Ellyn
38
T
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Rd
Yorkfield
Mt Carmel
Cemetery
S Garfield St
N Main St
56
S
T
York
1
Center
Oakbrook Terrace
64
T
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W La
ke
N W olf Rd
Lombard
55
IL-64 E
20
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Stone
Park
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Hillside
E Madison St
Av e
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12
S Wolf Rd
N Grace St
83
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25th Ave
N Cass Ave
S Cass Ave
Main St
S Grace St
Fairview Ave
Belmont Rd
IL-53
S Madison St
Park
3
Rd
Elmhurst
Glen Oak
H ill
in
£
¤
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Glen Ellyn
W
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3 Mile
355
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S 25th Ave
Meyers Rd
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W 55th St
ay
Tri-Sta te To llw
South
Addison
E North Ave
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Ma in St
£
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Av e
Genev a Rd
Villa
64
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US
-2
5 Mile
Maple A v e
$0.00 - $15,000.00
Glendale Heights
North Ave
ge Rd
55th St
W 47th St
12
Clarendon
Hills
Westmont
ok
Co
Cook
355
La Grange
Western Springs
Wolf Rd
§
¨
¦
$15,000.01 - $25,000.00
Downers Grove
W Ogd en
Ave
Hinsdale
83
T
S
DuPa ge
$25,000.01 - $50,000.00
Hinsdale
Golf Club
Chicago Ave
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Brookfield
La Grange Park
n Ave
34
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$100,000.01
- $150,000.00
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$50,000.01 - $75,000.00
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$150,000.01 - $200,001.00
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$75,000.01 - $100,000.00
Belmont
31st St
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York R
Sp
Hines
Broadview
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Oak
Brook
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Morton
Arboretum
Arboretum
W Roosevelt Rd
88
Adams Rd
G
-5
IL-110 W
88 IL-110
E
2013 Median
Household
Income
Blo o mingdale Rd
§
¨
¦
I-29 0 E I-290 W
Harri so n St
G
56
T
S
Oakbrook Terrace offers unparalleled residential living among beautiful parks,
safe quiet streets and a wealth of upscale community amenities. Oakbrook
Terrace has a variety of housing-condominiums-Luxury apartments-New
homes with upscale improvements and older homes-all in a park like setting.
Queen of
Heaven
Cemetery
15
Foxcroft
53
S
T
38 IL-38 E IL-38 W
T
S
^
_
Utopia
E 22nd St
College
of DuPage
Mile
East Ave
S Park Blvd
Village
links of
Glen Ellyn
York
1
Center
Oakbrook Terrace
S Meyers Rd
T
S
38
0W
-11
Chicago Ave
Maywood
Bellwood
S 25th Ave
56
T
S
IL
Mt Carmel
Cemetery
Melrose Park
Rd
East Ave
Lombard
Flowerfield
S Wolf Rd
N Main St
S Villa Ave
Hillside
E Madison St
Av e
H ill
St
St C h arle s
25th Ave
§
¨
¦
§
¨
¦
290
Glen Ellyn
W La
ke
DuPage
W St Charles Rd
64
S
T
IL-64 E
Stone
Park
£
¤
Mannheim Rd
S Grace St
83
T
S
3 Mile
Glen Oak
Oakbrook Terrace is also known for Oakbrook Terrace Tower, an octagonal
31-story office building, was designed by Helmut Jahn and built in 1987. It is
the tallest building in Illinois outside the city limits of Chicago and is currently
owned by General Electric. Other points of interest are the Drury Lane Theater
and approximately 40 restaurants. A central location helps to make all the
wonderful cultural, sport and recreational offerings of the Chicago Metropolitan
area an easy commute.
5 mile
197,385
$$107,126
£
¤
Northlake
N Grace St
Rd
Sw ift
W
Elmhurst
Villa Park
§
¨
¦
355
# OF EMPLOYEES
3,150
3,000
1,075
846
796
725
323
320
300
230
0
5 Mile
ay
Tri-Sta te To llw
North Ave
US
-2
South
Addison
E North Ave
I L -83 S
T
S
64
Av e
IL-53
Glendale Heights
Genev a Rd
EMPLOYER
Oakbrook Center
McDonald’s
Advocate Health Care
Inland Real Estate Corporation
Ace Hardware
ADT
Newell Rubbermaid
Follett Higher Education Group
Lions Club International
Reed Elsevier
3 mile
102,665
$$110,273
44,100 cpd
127,400 cpd
80,000 cpd
Villa
Oakbrook Terrace is the home of seven (7) outstanding hotels; Hilton, Hilton
Garden Inn, Holiday Inn, Courtyard by Marriott, LaQuinta Inn, Comfort Suites
and the Staybridge Suites, many with meeting and convention facilities. These
are just a few of many reasons why so many high profile companies have
chosen Oakbrook Terrace as their corporate headquarters.
1 mile
22,499
$115,824
TRAFFIC COUNTS
22nd Street
Ronald Regan Tollway 88
IL-83
Ma in St
of Chicago. For the business community and the casual tourist, it boasts easy
access to four (4) major highways. The City is the home to over 4,000,000
square feet of Office Development. We are just minutes from downtown
Chicago, and O’Hare and Midway Airports. Oakbrook Terrace is the home
of the Chicago Automobile Trade Association, the largest Automobile Trade
Association in America and the thirty-one (31) story Oakbrook Terrace Tower,
the tallest office building west of downtown Chicago to the Rocky Mountains.
TRADE AREA PROFILE
Radius
Population
Average HH Income
Bloo m ingdale Rd
Oakbrook Terrace is located in DuPage County, Illinois, a suburb
DEMOGRAPHICS
Mannheim Rd
AREA OVERVIEW
W
P la
in
ld
fie
Countryside
Rd
Jo
t
li e
Rd
§
¨
¦
55
Carol
Stream
59
S
T
Geneva
38
T
S
25
T
S
Lombard
Glen
Ellyn
Wheaton
Batavia
North
Aurora
64
S
T
Du Pa ge
T
S
56
Warrenville
§
¨
¦
£
¤
88
Naperville
§
¨
¦
T
S
71
S
T
§
¨
¦
55
£
¤
30
Romeoville
Yorkville
Ke n da ll
T
S
Plainfield
Wil
Willl
126
Lockport
Crest
Hill
Hickory
Hills
83
Lemont
7
S
T
Midw est Rd
IL-83 S
Sum mit Ave
V e rsa illes Dr
n
r o ok
IL-83 N
Central
Central
Park
Park
£
¤
41
Chicago
§
¨
¦
La Grange
Summit
Darien
Bolingbrook
50
S
T
83
T
S
Butler
National
Golf Club
Brookfield
Burr
Ridge Justice
53
S
T
River
Forest
19
S
T
Jori e Blvd
Westchester Co
Cook
ok 290
Cicero
Westmont
Woodridge
Oswego
^
_
355
Aurora
Montgomery
Villa
Park
Melrose
Park
Elmwood
Park
nt
W 22n d St
Lake
Mic h i g a n
43
S
T
Franklin
Park
River
Grove
Hinsdale
Lisle
34
§
¨
¦
294
Schiller
Bensenville
Park Norridge
Addison
West
Chicago
14
ge
Country Club
Morton
Grove
Skokie
Lincolnwood
Niles
£
¤
G
yb
15
Ba
Evanston Butterfield
Har g er R d
Illino
is
Mi c h
igan
Wood
Dale
Bloomingdale
St Charles
Wilmette
Oakbrook
Center
rl
Des
Schaumburg
Plaines
Elk Grove
Village
31
Ka n e
Glenview
L
Kingston D
r
tT
T
S
Winnetka
94
Mt Prospect
Streamwood
Hanover
Bartlett
Park Roselle
Elgin
§
¨
¦
^
_
g Rd
£
¤ South
20
88
Dr
72
S
TT
S
58
§
¨
¦
Northbrook
Re
Hoffman
Estates
Elgin
T
S
22nd St
17W170 22nd Street
Oakbrook Terrace, IL
Palatine
Arlington Prospect
Heights
Heights
62
S
T
90
r
Deerfield
68
Carpentersville
Highland
Park
D
Buffalo
Grove
Wheeling
Barrington
§
¨
¦
22
S
T
rt
For e s
21
S
T
16 th S t
16th S t
r
hu
Lake in
the Hills
Algonquin
in
La k e Hills
Lake
Zurich
56
T
S
Oa k br ook
Te r r a ce
Ma c A
45
12
Cary
Campton
Hills
Lake
Forest
Mundelein
£
¤ Vernon
£
¤
Mc H e nr y
Huntley
60
S
T
Wauconda
Sp r
176
S
T
Crystal
Lake
Libertyville
§
¨
¦
Burbank
Oak Lawn
90
§
¨
¦
57
£
¤
12
Palos
Hills
Worth
Alsip
Blue
Palos
Island
Goodings Heights
Crestwood
Dolton
Orland
Grove
Calumet
Oak
Park
City
Riverdale
Forest
Homer
Harvey
Tinley
Glen
6
Park
Markham
South
45
Holland
£
¤
£
¤
Indiana
£
¤
Gary
20
Hammond
Munster
La k e
Por t e r
§
¨
¦
§
¨
¦
94
80
Lake
Station
AERIAL MAP
Oakbrook Center Mall
Oakbrook Terrace
Yorktown Shopping Center
Fresh Meadow
Golf Club
Shops at Oakbrook Place
Butterfield
Golf Course &
Country Club
Midwestern
University
Butler National
Golf Course
Chicago
Highlands
Golf Club
Oakbrook
Golf Course
Meadowlark
Golf Course
DISCLAIMER
Savills Studley, Inc., exclusive marketing representative of the Seller,
is solely authorized to present this property investment offering (the
“Offering”). This is a confidential Memorandum intended solely for your
limited use and benefit in determining whether you desire to express
further interest in the acquisition of (the “Property”).
Prior to submitting an offer to purchase the Property, interested parties
should perform and rely upon their own investigations, analyses, estimates
and projections and otherwise satisfy any concerns regarding material
aspects of the proposed transaction including, but not limited to, legal,
municipal, environmental, operational, seismic, financial and physical
issues, and all other matters affecting or pertaining to the Property.
The Seller will be offering the Property including all appurtenances and
tenant improvements, solely on an “As-Is, With-All-Faults” basis, without
any representations or warranties. No person is authorized to make any
representations or warranties on behalf of the Seller regarding the Property.
Any and all information regarding the Property provided to any interested
party by the Seller or Savills Studley, Inc., including all information contained
in the Offering, is provided without any representation or assurance,
express or implied, regarding the accuracy, completeness or current status
of applicability of such information. Each interested party is expected to
undertake such reviews and investigations and make such inquiries as
such party may believe to be necessary, appropriate or advisable for the
purpose of forming a decision to make an offer to acquire the Property.
The Owner expressly reserves the right, at is sole discretion, to reject
any or all expressions of interest or offers to purchase the Property and/
or to terminate discussions with an entity at any time with or without
notice which may arise as a result of review of this Memorandum.
The Owner shall have no legal commitment or obligation to any entity
reviewing this Memorandum or making an offer to purchase the Property
unless and until written agreement(s) for the purchase of the Property
have been fully executed, delivered and approved by the Owner and
any conditions to the Owner’s obligations therein have been satisfied or
waived.
The material contained herein is confidential and is presented strictly as
information for the exclusive use of the prospective purchaser. Receipt
and review of this Offering by the prospective purchaser constitutes
an agreement not to divulge, share or distribute the information to any
other party, except the prospective purchaser’s legal counsel and
financial advisors, without the prior specific written authorization of the
Seller or Savills Studley, Inc. Each prospective purchaser shall also
agree to and comply with the provisions of the confidentiality agreement
executed by such prospective purchaser prior to receipt of this Offering.
This Offering is submitted subject to errors, changes, omissions, changes
in price, market and other conditions. It contains selected information
pertaining to the Property and does not purport to be all-inclusive or to
contain all of the information that prospective purchasers may desire.
It should be noted that any and all market analyses, estimates and
projections contained in this Offering are provided for general reference
purposes only and are based on assumptions related to the general
economy, competition, real estate market trends, and other factors beyond
the control of the Seller or Savills Studley, Inc.
Such analyses, estimates and projections are therefore subject to material
variation, and may not be consistent with the views or assumptions held
by other professionals.
PHOTOCOPYING OR OTHER DUPLICATION OF THIS OFFERING IS
NOT AUTHORIZED
Exclusive
Advisors
Kyle R. Miller
Corporate Managing Director
213 553 3866
[email protected]
License # 01716644
Downtown Los Angeles
777 Tower
777 S. Figueroa Street, 30th floor
Los Angeles, CA 90017
License # 00388260
David Metrick
847 234 7480
[email protected]
Envision Realty Advisors
900 North Shore Drive, ste 212
Lake Bluff, IL 60044
Peter Rusnak
847 733 4080
[email protected]
Envision Realty Advisors
900 North Shore Drive, ste 212
Lake Bluff, IL 60044