FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property...

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CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchasers intended use of the property. Operated by a subsidiary of NRT LLC. James Hodur 773-255-4986 Cell [email protected] Coldwell Banker Commercial NRT 1338 W. Madison Street Chicago, Illinois 60607 FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000.00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22% YEARLY NET RENT $288,884.52 TERM 7 Years Remaining With 5% Yearly Increases FEATURES - NNN Leased Investment Property - High Profile Tenant - Recording Studio - 2-Story - 4,000 Sq.Ft. Per Floor DESCRIPTION Net leased two story industrial building located in the West Loopin between Lake and Fulton. At the Ashland Green Line stop. W. Fulton Market Single Tenant Net Lease Investment PRICE REDUCED! W. Fulton Market

Transcript of FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property...

Page 1: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

James Hodur 773-255-4986 Cell

[email protected]

Coldwell Banker Commercial NRT

1338 W. Madison Street

Chicago, Illinois 60607

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

Property Information

PRICE $4,499,000.00 $3,999,000.00

BUILDING SQFT 8,000 Sq.Ft.

CAP RATE 7.22%

YEARLY NET RENT $288,884.52

TERM 7 Years Remaining With 5% Yearly Increases FEATURES - NNN Leased Investment Property - High Profile Tenant - Recording Studio - 2-Story - 4,000 Sq.Ft. Per Floor DESCRIPTION

Net leased two story industrial building located in the “West Loop” in between Lake and Fulton. At the Ashland Green Line stop.

W. Fulton Market

Single Tenant Net Lease Investment

PRICE REDUCED! W. Fulton Market

Page 2: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

MLS Listing Information

Page 3: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Tenant: Year: Date: Monthly: Yearly:

Tenant Yr. 1 Oct.1, 2015 - Sept. 30,2016 $20,795.83 $249,549.96

Yr. 2 Oct.1, 2016 - Sept. 30,2017 $21,835.62 $262,027.44

Yr. 3 Oct.1, 2017 - Sept. 30,2018 $22,927.41 $275,128.92

Yr. 4 Oct.1, 2018 - Sept. 30,2019 $24,073.71 $288,884.52

Yr. 5 Oct.1, 2019 - Sept. 30,2020 $25,277.40 $303,328.80

Yr. 6 Oct.1, 2020 - Sept. 30,2021 $26,541.27 $318,495.24

Yr. 7 Oct.1, 2021 - Sept. 30,2022 $27,868.33 $334,420.00

Yr. 8 Oct.1, 2022 - Sept. 30,2023 $29,261.75 $351,140.96

Yr. 9 Oct.1, 2023 - Sept. 30,2024 $30,724.84 $368,698.05

Yr. 10 Oct.1, 2024 - Sept. 30,2025 $32,261.08 $387,132.98

Tenant Income Summary

Tenant pays 100% of all the expenses of the property. These expenses include but are

not limited to real estate taxes, insurance, common area maintenance, refuse, water/

sewer, gas and electric.

2 - Five Year Options to Renew at 5% Annual Escalations

Page 4: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Plat Survey &

Floor Plans

Images from 2015

1st Floor 2nd Floor

Page 5: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Building Photos - Images Taken in 2015

Page 6: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Building Photos - Images Taken in 2015

Page 7: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Aerials

Page 8: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Zoning Map & Ward Map

Zoning Jurisdiction: City of Chicago

Current Zoning: PMD-4

Legally Conforming: Yes

219 N. Justine Street, Chicago 60607

Page 9: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Demographics

Page 10: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Population & Households

Demographics

Household Income

Page 11: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

James Hodur | 773-255-4986 Cell | [email protected]

FOR SALE 219 N. Justine Street, Chicago, Illinois 60607

CBCNRT.COM The broker has NOT undertaken an independent investigation to verify the accuracy or completeness of the information herein, except as required by law or regulation. The information contained herein has been provided to the Broker by the Owner or has been obtained from other third party sources deemed to be reliable. Prior to entering into a contract, Purchaser is strongly encouraged to verify the accuracy of all information contained herein, including all information concerning Purchaser’s intended use of the property. Operated by a subsidiary of NRT LLC.

Confidentiality Statement

This offering has been prepared solely for informational purposes. It is designed to assist a

potential investor in determining whether it wishes to proceed with an in-depth investigation

of the subject property. While the information contained herein is from sources deemed

reliable, it has not been independently verified by Coldwell Banker Commercial NRT or by

the Seller.

The projections and pro forma budget contained herein represent best estimates on as-

sumptions considered reasonable under the circumstances. No representations or warran-

ties, expressed or implied, are made that actual results will conform to such projections.

This document is provided subject to errors, omissions and changes in the information and

is subject to modification or withdrawal. The contents herein are confidential and are not to

be reproduced without the express written consent.

Interested buyers should be aware that the Seller is selling the Property “AS IS” CONDI-

TION WITH ALL FAULTS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY

KIND OR NATURE. Prior to and/or after contracting to purchase, as appropriate, buyer will

be given a reasonable opportunity to inspect and investigate the Property and all improve-

ments thereon, either independently or through agents of the buyer’s choosing.

The Seller reserves the right to withdraw the Property being marketed at any time without

notice, to reject all offers, and to accept any offer without regard to the relative price and

terms of any other offer. Any offer to buy must be: (i) presented in the form of a non-

binding letter of intent; (ii) incorporated in a formal written contract of purchase and sale to

be prepared by the Seller and executed by both parties; and (iii) approved by Seller and

such other parties who may have an interest in the Property. Neither the prospective buyer

nor Seller shall be bound until execution of the contract of purchase and sale, which con-

tract shall supersede prior discussions and writings and shall constitute the sole agreement

of the parties.

Prospective buyers shall be responsible for their costs and expenses of investigating the

Property and all other expenses, professional or otherwise, incurred by them.

Page 12: FOR SALE - LoopNet€¦ · FOR SALE 219 N. Justine Street, Chicago, Illinois 60607 Property Information PRICE $4,499,000 .00 $3,999,000.00 BUILDING SQFT 8,000 Sq.Ft. CAP RATE 7.22%

FOR MORE DETAILS CONTACT:

James Hodur [email protected]

(M): 773-255-4986

(F): 781-810-9545

Coldwell Banker Commercial NRT

1338 West Madison Street, Chicago, IL 60607