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Executive Summary Net Lease Commercial Condo 2300 W. Armitage Avenue · Chicago, IL 60622 OFFERED BY: Danny Spitz Michael Sieber Greg Dietz Managing Director Associate Managing Director 312.275.3139 [email protected] 312.275.3127 [email protected] 312.275.3125 [email protected] BAUM RE ALT Y GROUP, LLC ∙ 1030 W. CHICAGO AVENUE, SUITE 20 0 ∙ CHICAGO, IL 60642 ∙ 312.666.30 0 0 ∙ W W W.BAUMRE ALT Y.COM 2300 W. Armitage Avenue ∙ Chicago, IL Executive Overview Investment Highlights • Single-tenant medical office with experienced tenant • New 5-year, net lease • 2% rent bump every year • Relocation of practice – been in business over 25 years • Located on corner with tremendous visibility • ±85 feet of frontage along Armitage Avenue • Three blocks from the Western Blue Line ‘L’ Station • Approximately 13,700 VPD along Armitage Avenue • Population of 58,000+ with an average household income over $94,000 within 1-mile DEMOGRAPHIC SUMMARY 0.25 Mile Radius 0.5 Mile 1 Mile Estimated Population (2014) 4,473 17,603 58,243 Adj. Daytime Demographics Age 16 Years or Over 2,099 9,012 38,256 $112,431 $109,114 $94,142 Estimated Average Household Income (2014) Purchase Information Purchase Price:$1,050,000 Price PSF:$276 NOI:$72,000 Cap Rate: 2 | EXECUTIVE SUMMARY 6.86% (average yield 7.15% over 5-year lease) 2300 W. Armitage Avenue ∙ Chicago, IL The Property Redhot Ranch Las Asadas Western Tap 12 ,4 00 Turbo Tacos Cole Taylor Bank Ipsento Coffee 27,300 Congress Pizzeria Pulaski International School of Chicago Art of Chicken 2300 W. Armitage Avenue Lazo’s Tacos The Bento Box Arturo’s Tacos Village Discount Cat & Mouse Games 13,700 Sam’s Red Hots Margie’s Candies Antico Velvet Pin Up Belly Shack Plazzio’s Pizza Irazu Red & White Wines Karen Marie Salon 21,500 Blue Line ‘L’ Western Station 1.6M Riders/Year Floyd’s Pub Bucktown Food & Liquor Green Eye Lounge Challengers Comics Chicago Teacher Store Zen Yoga Garage 10 Uprise Skate Shop Roxy’s By The Slice 3 | EXECUTIVE SUMMARY Sergio & Banks ,0 00 The Nook 2300 W. Armitage Avenue ∙ Chicago, IL The Property N au lw Mi ke ve eA WA rmi 4 | EXECUTIVE SUMMARY tag eA ve 2300 W. Armitage Avenue Blue Line ‘L’ Western Station 1.6M Riders/Year Executive Summary Net Lease Commercial Condo 2300 W. Armitage Avenue · Chicago, IL 60622 OFFERED BY: Danny Spitz Michael Sieber Greg Dietz Managing Director Associate Managing Director 312.275.3139 [email protected] 312.275.3127 [email protected] 312.275.3125 [email protected] BAUM RE ALT Y GROUP, LLC ∙ 1030 W. CHICAGO AVENUE, SUITE 20 0 ∙ CHICAGO, IL 60642 ∙ 312.666.30 0 0 ∙ W W W.BAUMRE ALT Y.COM
