5481 n. milwaukee ave. - loopnet · 2018. 9. 19. · nrt 5481 n. milwaukee ave. chicago, il • two...

5481 N. MILWAUKEE AVE.CHICAGO, ILLINOIS

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PAUL PROANOCOMMERCIAL REAL ESTATE ADVISOR312-860-4043 [email protected]

Licensed in Illinois & Wisconsin

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5481 N. MILWAUKEE AVE.CHICAGO, IL

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 the Coldwell Banker Commercial affiliate or by the Seller.

The projections and pro forma budget contained herein represent best estimates on assumptions considered reasonable under the circumstances. No representations or warranties, 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” CONDITION 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 improvements 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 contract 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.

DISCLAIMER STATEMENT


PROPERTYOVERVIEW

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• Two newly signed leases

• New roof installed 2006

• Individual separate utilities

• Brand new washer/dryer (2017) that seller owns

• 3-4 private offices

• Large open area

• Two 1 bedroom/1 bathroom apartments

Sale Price: $515,000

Coldwell Banker Commercial NRT is pleased to present a pristine Jefferson Park Mixed-use Property for Owner Occupant or Investor! Building initially constructed in 1986, 2nd Floor added in 2006 and consists of two, 1 bedroom apartments and a roof top deck. 2.5 car attached garage and coin laundry set.

Low maintenance makes this a great property for the distant investor. Apartments currently leased. Own-er’s long established business occupies the office space. Office is 2,000 sf with 3-4 private offices, kitchen-ette, conference room, and 2 powder rooms. Large open area is currently configured with non-permanent work stations and move-in ready. Cubicles, data lines, security system with cameras, etc. can stay.

Great space for accountant, stores and shops, salon, spa, doctor, or any service oriented business. Great walking and drive by traffic, nearby public transportation and expressway, plenty of customer street park-ing.

The neighborhood of Jefferson Park has long been one of Chicago’s transportation hubs, earning it the nick-name as “The Gateway to Chicago”.The neighborhood is served by a Blue Line station in the median of the Kennedy Expressway at the intersection of Milwaukee and Gale Street, less than three blocks away from the Copernicus Center and the historic Jefferson Park Congregational Church. The Union Pacific / North-west Line also provides service to Jefferson Park.

INVESTMENT HIGHLIGHTS

portfolio overview

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property summary

Property Address: 5481 N. Milwaukee AvenueChicago, IL 60630

Sale Price: $515,000

Taxes: $8,200 (2016)

Type: Mixed-Use

Zoning: COMMR

Building Size: 4,500 SF

Office Size: 2,000 SF

Lot Size: 0.06 Acres (2,600 SF)

Year Built: 1986 / 2nd floor added 2006

Garage Spaces: 2

Exterior: Brick

Foundation: Concrete

Roof: Rubber, Flat (New roof 2006)

HVAC: Individual controls(3 HVAC on 2nd floor-20161st floor-2017)Hot water tank (2015)

The property

BUILDING & LOT DETAILS UNIT INFORMATION

Apartments: Two 1-bedroom/1-bathroom

Apartments Leased: Yes

Features: Roof Deck

Laundry: New washer & dryer (2017)

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FLOOR PLAN

OPEN WORK AREA50’ x 14’

OFFICE11’ x 7’

CONFERENCE15’ x 12’

OFFICE16’ x 11’

OFFICE15’ x 11’

RECEPTION8’ x 7’

VESTIBULE6’ x 6’

KITCHENETTE8’ x 5’

STORAGE8’ x 4’

2 CAR GARAGE20’ x 18’


locationOVERVIEW

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Jefferson Park is one of the 77 community areas of Chicago, located on the Northwest Side of the city. It is bordered by the community areas of Norwood Park to the northwest, Forest Glen to the northeast, Portage Park to the south, and the suburb of Harwood Heights to the west. Although the official community area map draws the boundary between Jefferson Park and Portage Park at Gunnison Street and Lawrence Avenue, the Jefferson Park neighborhood extends to Montrose Avenue farther south.

Jefferson Park has long been one of Chicago’s transportation hubs, earning the neighborhood the nickname as “The Gateway to Chicago”.The neighborhood is served by a Blue Line station in the median of the Kennedy Expressway at the intersection of Milwaukee and Gale Street, less than three blocks away from the Copernicus Center and the historic Jefferson Park Congregational Church. The Union Pacific / Northwest Line also provides service to Jefferson Park. In 2005, a monument to Thomas Jefferson was placed along the station’s entrance along Milwaukee Avenue.

Jefferson Park is named for the neighborhood’s eponymous green space, is known for being a family-friendly community and a popular residential area for Chicago’s fire fighters, police officers and school teachers. With vast wooded areas, nearby golf courses and an abundance of families, Jefferson Park mixes a suburban feel with a city touch.

Layered in Eastern European influence, this neighborhood is shrouded in authentic Polish flavor. Andy’s Deli and Smak-Tak are a pair of area staples that reflect Jefferson Park’s Polish roots. Barbeque lovers unite behind the braised beef perfection of the Gale Street Inn, while the close by Saigon Grill provides some of the city’s best Vietnamese-inspired street dishes.

Jefferson Park’s most distinguished landmark is the Copernicus Civic and Cultural Center, a beautifully restored performing arts palace and a standing tribute to the Polish American community. Besides art exhibits, dance groups and theatrical performances, the building avowals one of the few surviving atmospheric-style theaters in the Chicagoland area. Designed by renowned architect Mason Rapp, the 2,000 seat auditorium provides a unique setting for the facility’s many artistic pursuits.

ABOUT JEFFERSON PARK

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The City of Chicago is one of the largest cities in the United States. As of the 2017 census-estimated population of 2,716,450, Chicago is the third most populous city in the United States after New York and Los Angeles, and the most populous city in both the state of Illinois and the Midwestern United States. The Chicago metropolitan area has nearly 10 million people and is the third-largest in the United States and fourth largest in North America.

As a multicultural city that thrives on the harmony and diversity of its neighborhoods, Chicago today embodies the values of America’s heartland-integrity, hard work and community and reflects the ideals in the social fabric of its 77 distinct neighborhoods.

The city has seen a rise in population for the 2000 census and is expected to have an increase for the 2020 census. Chicago has the third-largest gross metropolitan product in the United States—about $670.5 billion according to September 2017 estimates. The city has also been rated as having the most balanced economy in the United States, due to its high level of diversification.

Chicago is a major world financial center, with the second-largest central business district in the United States. The city is the seat of the Federal Reserve Bank of Chicago, the Bank’s Seventh District. The city has major financial and futures exchanges, including the Chicago Stock Exchange, the Chicago Board Options Exchange (CBOE), and the Chicago Mercantile Exchange (the “Merc”), which is owned, along with the Chicago Board of Trade (CBOT) by Chicago’s CME Group. In 2017, Chicago exchanges traded 4.7 billion derivatives with a face value of over one quadrillion dollars. Chase Bank has its commercial and retail banking headquarters in Chicago’s Chase Tower.[171] Academically, Chicago has been influential through the Chicago school of economics, which fielded some 12 Nobel Prize winners.

The city and its surrounding metropolitan area contain the third-largest labor pool in the United States with about 4.63 million workers. Illinois is home to 66 Fortune 1000 companies, including those in Chicago. The city of Chicago also hosts 12 Fortune Global 500 companies and 17 Financial Times 500 companies.

city of chicago

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TRANSPORTATION

• The region’s transit network ranks among the largest and most efficient in the world.• The vast network of freeways, centralized location, the largest rail-truck intermodal facility in the

U.S., as well as the Port of Chicago contribute to the position as a major distribution and logistics hub.

• Chicago is the nation’s premier freight rail hub, with four carrier, BNSF, Union Pacific, CSX, Norfolk Southern, servicing the region.

• Amtrak routes originate from Union Station, while the Metra commuter rail and the Chicago L pro-vide passenger service throughout the metro area and beyond.

• International airports include O’Hare, Midway and Gary/Chicago. Seven smaller airports also pro-vide air service for the region.

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GETTING AROUND CHICAGO

CHICAGO TRANSIT AUTHORITYThe Chicago Transit Authority (CTA) operates the nation’s second largest public transportation system – serving the City of Chicago and 40 neighboring communities by rail and bus.

‘L’ Trains: Not all of Chicago’s eight ‘L’ lines are “elevated.” They do, however, connect the city via above-ground, street-level and subway trains and serve 144 rail stations all over town, making the ‘L’ one of the most efficient and affordable methods of transportation available. Two lines operate 24 hours a day: the Blue Line, which connects the airport and downtown, and the Red Line, with service between the North and South Sides via downtown.

METRA COMMUTER RAILThe high-speed Metra commuter rail train connects outlying suburbs to downtown and is an easy way to get into the heart of the city fast.

Buses: More than 100 routes lace the city; buses stop every few blocks. Several lines operate 24 hours a day.

DIVVYThe Chicago Department of Transportation (CDOT) launched the city’s bike share system — Divvy — with the goal of expanding to 4,700 bikes at 470 neighborhood locations.

Divvy gives Chicagoans and visitors the option of renting a bike for point-to-point trips and provides a simple transit option that’s available 24 hours a day, 7 days a week. Users simply pick up a bike from a self-service docking station, which will be located near public transit, employment centers, shopping districts, schools and other highly trafficked areas, and return it to a station near their destination.

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5481 N. MILWAUKEE

5481 N. MILWAUKEEO’HARE INTERNATIONAL AIRPORT

LOCATION OVERVIEW

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LOCATION OVERVIEW


PROPERTY PHOTOGRAPHS


FINANCIALOVERVIEW


RENT ROLL SUMMARY

Scheduled Potential# of Average Average Average Monthly Average Average Monthly

Unit Type Units Square Feet Rent Rent/SF Income Rent Rent/SF Income1 BD 1 BATH 1 350 $825 $2.36 $825 $825 $2.36 $8251 BD 1 BATH 1 600 $1,050 $1.75 $1,050 $1,400 $2.33 $1,400Totals/Weighted Averages 3 983 $625 $0.64 $1,875 $1,575 $1.60 $4,725

Gross Annualized Rents $22,500 $56,700

expensesExpenses Current Year 1

Real Estate Taxes $8,800 $8,800

Insurance $1,000 $1,000

Utilities - Combined $0 $0

Operating Expenses - Combined $600 $600

Operating Reserves $675 $1,752

Management Fee $653 $1,676

Total Expenses $11,728 $13,828

Expenses/SF $3.98 $4.69

current PRICINGPrice $515,000Price Per Square Foot $174.58

Analysis Period Cap RateYear 1 8.17%Current 1.95%

Review AnalysisYear 1 - Leveraged Cash On Cash Return 11.09%

Market Financing 1st Loan

Interest Rate 5.25%

Amortization Period 25 Years

Months of Interest Only 0 Months

Annual Loan Constant 7.19%

Loan Term 5 Years

Loan to Value 75%

Loan Amount $386,250

Down Payment $128,750

DSCR - Year 1 (all loans) 1.51


OPERATING STATEMENT

Income Current Year 1 Notes Per Unit Per SF

Multifamily

Gross Scheduled Rent 22,500 58,401 [4] 29,201 19.80

All Other Income 400 400 [2] 200 0.14

Vacancy (1,125) 5.0% (2,920) 5.0% [11]

Effective Gross Income $21,775 $55,881 $27,940 $18.94

[1] Gross Scheduled Rent - Based on Seller's 2017 Rent Roll Annualized[2] Laundry Income- Based on Seller's 2017 Income and Expense Sheet[3] Real Estate Taxes - Based on Cook County Treasurer 2017 Payable 2018[4] Insurance- Based on Seller's 2017 Income and Expense Sheet[5] Electric- Based on Seller's 2017 Income and Expense Sheet[6] Gas-Based on Seller's 2017 Income and Expense Sheet[7] Garbage Removal-Based on Seller's 2017 Income and Expense Sheet[8] Repairs & Maintenance- Based on Seller's 2017 Income and Expense Sheet[9] Operating Reserves- Broker Pro Forma of 3% of total effective gross rental income[10] Management Fee- Broker Pro Forma for Three Percent of Effective Gross Income[11] Vacancy- Bases on Market Vacancy [12] Landscaping/Snow Removal- Based on Seller's 2017 Income and Expense Sheet[13] Water- Based on sellers 2017 Income & Expense report

Expenses Current % of CEGI Year 1 % of CEGI Notes Per SF

Real Estate Taxes 8,800 40.4% 8,800 15.7% [3] 2.98 2.98

Insurance 1,000 4.6% 1,000 1.8% [4] 0.34 0.34

Utilities - Electric 0 0.0% 0 0.0% 0.00 0.00

Utilities - Gas 0 0.0% 0 0.0% 0.00 0.00

Repairs & Maintenance 0 0.0% 0 0.0% 0.00 0.00

Landscaping 0 0.0% 0 0.0% 0.00 0.00

Water 600 2.8% 600 1.1% [13] 0.20 0.20

Operating Reserves 675 3.1% 1,752 3.1% 0.23 0.59

Management Fee 653 3.0% 1,676 3.0% 0.22 0.57

Total Expenses $11,728 $13,828 $3.98 $4.69

Expenses as % of Combined EGI 53.9% 24.7%

Net Operating Income $10,047 $42,053 $14.26


RADIUSDEMOGRAPHICS

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TRAFFIC COUNT MAP

Negotiable0%4,500 SF20064,500 SFStorefrontGeneral Retail

Rent/SF/Yr:% Leased:

Total Available:Year Built:

GLA:Secondary:

Building Type:

Street Cross Street Cross Str DistCountYear

Avg DailyVolume

VolumeType

Miles fromSubject Prop

1 N Milwaukee Ave N Manila Ave 0.06 SE 2017 13,200 MPSI .112 W Bryn Mawr Ave Alley 0.00 W 2015 18,001 MPSI .123 W Bryn Mawr Ave N Milwaukee Ave 0.01 W 2017 12,300 MPSI .124 W Bryn Mawr Ave Alley 0.01 E 2015 14,282 MPSI .225 N Central Ave W Catalpa Ave 0.04 N 2017 14,600 MPSI .236 N Northwest Hwy N Marmora Ave 0.03 SE 2015 9,822 MPSI .237 N Northwest Hwy N Menard Ave 0.03 SE 2011 11,224 MPSI .248 N Milwaukee Ave N Markham Ave 0.03 NW 2017 14,400 MPSI .289 N Central Ave Alley 0.03 N 2017 18,800 MPSI .28

10 N Central Ave N Lovejoy Ave 0.04 S 2015 20,187 MPSI .29

Traffic Count Report

5481 N Milwaukee Ave, Chicago, IL 60630

Copyrighted report licensed to Coldwell Banker Commercial - 775046.9/10/2018

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DEMOGRAPHIC REPORT

Negotiable0%4,500 SF

20064,500 SFStorefrontGeneral Retail


Total Available:

Year Built:GLA:

Secondary:Building Type:

Radius 1 Mile 3 Mile 5 MilePopulation

2023 Projection 28,878 248,409 775,0712018 Estimate 29,354 251,334 787,0622010 Census 30,886 258,349 823,751

Growth 2018 - 2023 -1.62% -1.16% -1.52%Growth 2010 - 2018 -4.96% -2.72% -4.45%

2018 Population by Age 29,354 251,334 787,062Age 0 - 4 1,735 5.91% 14,806 5.89% 50,518 6.42%Age 5 - 9 1,669 5.69% 14,393 5.73% 48,575 6.17%Age 10 - 14 1,625 5.54% 14,446 5.75% 47,756 6.07%Age 15 - 19 1,556 5.30% 14,146 5.63% 46,319 5.89%Age 20 - 24 1,602 5.46% 14,689 5.84% 48,523 6.17%Age 25 - 29 1,836 6.25% 16,565 6.59% 56,321 7.16%Age 30 - 34 1,977 6.74% 17,011 6.77% 59,297 7.53%Age 35 - 39 1,985 6.76% 16,452 6.55% 56,506 7.18%Age 40 - 44 2,011 6.85% 16,316 6.49% 53,496 6.80%Age 45 - 49 2,064 7.03% 16,749 6.66% 51,975 6.60%Age 50 - 54 2,154 7.34% 17,472 6.95% 51,977 6.60%Age 55 - 59 2,192 7.47% 17,921 7.13% 51,928 6.60%Age 60 - 64 1,985 6.76% 16,506 6.57% 46,960 5.97%Age 65 - 69 1,617 5.51% 13,601 5.41% 38,116 4.84%Age 70 - 74 1,163 3.96% 10,004 3.98% 27,537 3.50%Age 75 - 79 822 2.80% 7,294 2.90% 19,442 2.47%Age 80 - 84 590 2.01% 5,448 2.17% 13,924 1.77%Age 85+ 772 2.63% 7,515 2.99% 17,895 2.27%

Age 65+ 4,964 16.91% 43,862 17.45% 116,914 14.85%

Median Age 41.70 41.00 38.20Average Age 40.80 40.60 38.70

Demographic Detail Report



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DEMOGRAPHIC REPORTDemographic Detail Report

5481 N Milwaukee Ave, Chicago, IL 60630Radius 1 Mile 3 Mile 5 Mile

2018 Population By Race 29,354 251,334 787,062White 25,343 86.34% 213,337 84.88% 631,578 80.25%Black 365 1.24% 4,188 1.67% 38,575 4.90%Am. Indian & Alaskan 238 0.81% 1,872 0.74% 7,906 1.00%Asian 2,752 9.38% 25,990 10.34% 89,741 11.40%Hawaiian & Pacific Island 46 0.16% 248 0.10% 978 0.12%Other 609 2.07% 5,699 2.27% 18,284 2.32%

Population by Hispanic Origin 29,354 251,334 787,062Non-Hispanic Origin 23,003 78.36% 184,137 73.26% 511,361 64.97%Hispanic Origin 6,350 21.63% 67,197 26.74% 275,701 35.03%

2018 Median Age, Male 40.70 39.40 37.102018 Average Age, Male 39.60 39.20 37.50

2018 Median Age, Female 42.70 42.50 39.302018 Average Age, Female 41.80 41.90 39.80

2018 Population by OccupationClassification

24,018 204,870 630,950

Civilian Employed 15,263 63.55% 130,283 63.59% 403,952 64.02%Civilian Unemployed 790 3.29% 5,457 2.66% 17,902 2.84%Civilian Non-Labor Force 7,965 33.16% 69,093 33.73% 208,931 33.11%Armed Forces 0 0.00% 37 0.02% 165 0.03%

Households by Marital StatusMarried 5,288 45,603 132,976Married No Children 2,997 25,682 71,751Married w/Children 2,291 19,922 61,225

2018 Population by Education 22,294 191,253 589,533Some High School, No Diploma 2,664 11.95% 23,156 12.11% 91,970 15.60%High School Grad (Incl Equivalency) 5,759 25.83% 46,072 24.09% 136,140 23.09%Some College, No Degree 5,800 26.02% 47,685 24.93% 134,255 22.77%Associate Degree 1,126 5.05% 12,399 6.48% 44,160 7.49%Bachelor Degree 4,713 21.14% 39,766 20.79% 116,577 19.77%Advanced Degree 2,232 10.01% 22,175 11.59% 66,431 11.27%


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2018 Population by Occupation 30,495 259,435 810,311Real Estate & Finance 1,303 4.27% 10,042 3.87% 28,319 3.49%Professional & Management 7,179 23.54% 62,161 23.96% 186,203 22.98%Public Administration 1,101 3.61% 7,641 2.95% 16,108 1.99%Education & Health 3,301 10.82% 27,996 10.79% 87,022 10.74%Services 3,026 9.92% 25,793 9.94% 82,801 10.22%Information 304 1.00% 3,005 1.16% 8,116 1.00%Sales 3,365 11.03% 30,652 11.81% 94,734 11.69%Transportation 2,257 7.40% 19,926 7.68% 69,759 8.61%Retail 1,217 3.99% 13,284 5.12% 44,240 5.46%Wholesale 456 1.50% 3,434 1.32% 10,470 1.29%Manufacturing 1,472 4.83% 12,292 4.74% 43,110 5.32%Production 1,888 6.19% 16,603 6.40% 57,957 7.15%Construction 1,493 4.90% 10,410 4.01% 29,223 3.61%Utilities 1,030 3.38% 8,376 3.23% 25,946 3.20%Agriculture & Mining 33 0.11% 161 0.06% 668 0.08%Farming, Fishing, Forestry 0 0.00% 174 0.07% 544 0.07%Other Services 1,070 3.51% 7,485 2.89% 25,091 3.10%

2018 Worker Travel Time to Job 14,833 125,684 389,368<30 Minutes 6,296 42.45% 49,189 39.14% 152,915 39.27%30-60 Minutes 6,746 45.48% 58,251 46.35% 178,403 45.82%60+ Minutes 1,791 12.07% 18,244 14.52% 58,050 14.91%

2010 Households by HH Size 12,365 96,578 296,7461-Person Households 3,799 30.72% 27,000 27.96% 79,129 26.67%2-Person Households 3,704 29.96% 28,225 29.23% 84,295 28.41%3-Person Households 2,017 16.31% 15,769 16.33% 48,624 16.39%4-Person Households 1,574 12.73% 13,416 13.89% 41,667 14.04%5-Person Households 767 6.20% 6,836 7.08% 22,796 7.68%6-Person Households 299 2.42% 2,967 3.07% 10,570 3.56%7 or more Person Households 205 1.66% 2,365 2.45% 9,665 3.26%

2018 Average Household Size 2.50 2.60 2.70

Households2023 Projection 11,145 90,742 273,7852018 Estimate 11,400 92,171 278,9632010 Census 12,365 96,578 296,747Growth 2018 - 2023 -2.24% -1.55% -1.86%Growth 2010 - 2018 -7.80% -4.56% -5.99%


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2018 Households by HH Income 11,401 92,171 278,962<$25,000 2,129 18.67% 15,837 17.18% 54,895 19.68%$25,000 - $50,000 2,106 18.47% 18,036 19.57% 61,321 21.98%$50,000 - $75,000 1,826 16.02% 15,518 16.84% 46,867 16.80%$75,000 - $100,000 1,506 13.21% 12,031 13.05% 35,802 12.83%$100,000 - $125,000 1,116 9.79% 10,082 10.94% 27,528 9.87%$125,000 - $150,000 874 7.67% 6,241 6.77% 16,676 5.98%$150,000 - $200,000 1,013 8.89% 7,697 8.35% 18,760 6.72%$200,000+ 831 7.29% 6,729 7.30% 17,113 6.13%

2018 Avg Household Income $90,752 $90,501 $82,7352018 Med Household Income $70,128 $69,531 $61,722

2018 Occupied Housing 11,400 92,171 278,963Owner Occupied 7,521 65.97% 62,384 67.68% 165,280 59.25%Renter Occupied 3,879 34.03% 29,787 32.32% 113,683 40.75%

2010 Housing Units 12,833 100,888 311,7951 Unit 6,469 50.41% 55,509 55.02% 138,548 44.44%2 - 4 Units 4,532 35.32% 23,341 23.14% 91,124 29.23%5 - 19 Units 1,350 10.52% 12,002 11.90% 49,180 15.77%20+ Units 482 3.76% 10,036 9.95% 32,943 10.57%

2018 Housing Value 7,521 62,384 165,280<$100,000 278 3.70% 2,388 3.83% 9,093 5.50%$100,000 - $200,000 1,053 14.00% 9,324 14.95% 30,781 18.62%$200,000 - $300,000 2,688 35.74% 19,265 30.88% 49,668 30.05%$300,000 - $400,000 2,235 29.72% 16,518 26.48% 38,473 23.28%$400,000 - $500,000 817 10.86% 7,618 12.21% 18,434 11.15%$500,000 - $1,000,000 431 5.73% 6,709 10.75% 17,050 10.32%$1,000,000+ 19 0.25% 562 0.90% 1,781 1.08%

2018 Median Home Value $290,382 $301,302 $286,103

2018 Housing Units by Yr Built 12,836 101,011 312,405Built 2010+ 101 0.79% 1,342 1.33% 3,511 1.12%Built 2000 - 2010 314 2.45% 2,873 2.84% 12,051 3.86%Built 1990 - 1999 261 2.03% 4,647 4.60% 9,496 3.04%Built 1980 - 1989 270 2.10% 2,861 2.83% 8,582 2.75%Built 1970 - 1979 832 6.48% 6,045 5.98% 23,136 7.41%Built 1960 - 1969 1,563 12.18% 12,257 12.13% 41,547 13.30%Built 1950 - 1959 3,034 23.64% 23,051 22.82% 69,029 22.10%Built <1949 6,461 50.33% 47,935 47.46% 145,053 46.43%

2018 Median Year Built 1949 1950 1951


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DEMOGRAPHIC REPORT


20064,500 SF

General Retail


Total Available:

Year Built:GLA:

Building Type:StorefrontSecondary:

Radius 1 Mile 3 Mile 5 MilePopulation

2023 Projection 28,878 248,409 775,0712018 Estimate 29,354 251,334 787,0622010 Census 30,886 258,349 823,751Growth 2018 - 2023 -1.62% -1.16% -1.52%Growth 2010 - 2018 -4.96% -2.72% -4.45%

2018 Population by Hispanic Origin 6,350 67,197 275,7002018 Population 29,354 251,334 787,062

White 25,343 86.34% 213,337 84.88% 631,578 80.25%Black 365 1.24% 4,188 1.67% 38,575 4.90%Am. Indian & Alaskan 238 0.81% 1,872 0.74% 7,906 1.00%Asian 2,752 9.38% 25,990 10.34% 89,741 11.40%Hawaiian & Pacific Island 46 0.16% 248 0.10% 978 0.12%Other 609 2.07% 5,699 2.27% 18,284 2.32%U.S. Armed Forces 0 36 164

Households2023 Projection 11,145 90,742 273,7852018 Estimate 11,400 92,171 278,9632010 Census 12,365 96,578 296,747Growth 2018 - 2023 -2.24% -1.55% -1.86%Growth 2010 - 2018 -7.80% -4.56% -5.99%Owner Occupied 7,521 65.97% 62,384 67.68% 165,280 59.25%Renter Occupied 3,879 34.03% 29,787 32.32% 113,683 40.75%

2018 Households by HH Income 11,401 92,171 278,962Income: <$25,000 2,129 18.67% 15,837 17.18% 54,895 19.68%Income: $25,000 - $50,000 2,106 18.47% 18,036 19.57% 61,321 21.98%Income: $50,000 - $75,000 1,826 16.02% 15,518 16.84% 46,867 16.80%Income: $75,000 - $100,000 1,506 13.21% 12,031 13.05% 35,802 12.83%Income: $100,000 - $125,000 1,116 9.79% 10,082 10.94% 27,528 9.87%Income: $125,000 - $150,000 874 7.67% 6,241 6.77% 16,676 5.98%Income: $150,000 - $200,000 1,013 8.89% 7,697 8.35% 18,760 6.72%Income: $200,000+ 831 7.29% 6,729 7.30% 17,113 6.13%

2018 Avg Household Income $90,752 $90,501 $82,7352018 Med Household Income $70,128 $69,531 $61,722

Demographic Summary Report



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DEMOGRAPHIC REPORT


20064,500 SFStorefrontGeneral Retail


Total Available:

Year Built:GLA:

Secondary:Building Type:

Description 2010 2018 2023Population 30,886 29,354 28,878

Age 0 - 4 1,863 6.03% 1,735 5.91% 1,716 5.94%Age 5 - 9 1,721 5.57% 1,669 5.69% 1,690 5.85%Age 10 - 14 1,654 5.36% 1,625 5.54% 1,640 5.68%Age 15 - 19 1,658 5.37% 1,556 5.30% 1,581 5.47%Age 20 - 24 1,689 5.47% 1,602 5.46% 1,554 5.38%Age 25 - 29 2,103 6.81% 1,836 6.25% 1,629 5.64%Age 30 - 34 2,176 7.05% 1,977 6.74% 1,773 6.14%Age 35 - 39 2,271 7.35% 1,985 6.76% 1,879 6.51%Age 40 - 44 2,304 7.46% 2,011 6.85% 1,920 6.65%Age 45 - 49 2,402 7.78% 2,064 7.03% 1,947 6.74%Age 50 - 54 2,464 7.98% 2,154 7.34% 1,986 6.88%Age 55 - 59 2,133 6.91% 2,192 7.47% 2,014 6.97%Age 60 - 64 1,804 5.84% 1,985 6.76% 1,959 6.78%Age 65 - 69 1,237 4.01% 1,617 5.51% 1,742 6.03%Age 70 - 74 980 3.17% 1,163 3.96% 1,387 4.80%Age 75 - 79 859 2.78% 822 2.80% 996 3.45%Age 80 - 84 758 2.45% 590 2.01% 660 2.29%Age 85+ 810 2.62% 772 2.63% 804 2.78%

Age 15+ 25,648 83.04% 24,326 82.87% 23,831 82.52%Age 20+ 23,990 77.67% 22,770 77.57% 22,250 77.05%Age 65+ 4,644 15.04% 4,964 16.91% 5,589 19.35%Median Age 41 42 43Average Age 40.00 40.80 41.50

Population By Race 30,886 29,354 28,878White 27,103 87.75% 25,343 86.34% 24,708 85.56%Black 407 1.32% 365 1.24% 351 1.22%Am. Indian & Alaskan 246 0.80% 238 0.81% 237 0.82%Asian 2,475 8.01% 2,752 9.38% 2,903 10.05%Hawaiian & Pacific Islander 37 0.12% 46 0.16% 47 0.16%Other 559 1.81% 609 2.07% 633 2.19%

Demographic Trend Report 1 Mile Radius



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NRT


DEMOGRAPHIC REPORTDemographic Trend Report 1 Mile Radius

5481 N Milwaukee Ave, Chicago, IL 60630Description 2010 2018 2023

Population by Race (Hispanic) 5,615 6,350 6,641White 5,111 91.02% 5,794 91.24% 6,065 91.33%Black 108 1.92% 121 1.91% 120 1.81%Am. Indian & Alaskan 170 3.03% 174 2.74% 181 2.73%Asian 59 1.05% 60 0.94% 63 0.95%Hawaiian & Pacific Islander 30 0.53% 39 0.61% 39 0.59%Other 139 2.48% 162 2.55% 174 2.62%

Household by Household Income 12,364 11,401 11,144<$25,000 2,692 21.77% 2,129 18.67% 2,043 18.33%$25,000 - $50,000 2,726 22.05% 2,106 18.47% 2,045 18.35%$50,000 - $75,000 2,416 19.54% 1,826 16.02% 1,718 15.42%$75,000 - $100,000 1,610 13.02% 1,506 13.21% 1,458 13.08%$100,000 - $125,000 1,430 11.57% 1,116 9.79% 1,048 9.40%$125,000 - $150,000 767 6.20% 874 7.67% 888 7.97%$150,000 - $200,000 463 3.74% 1,013 8.89% 1,063 9.54%$200,000+ 260 2.10% 831 7.29% 881 7.91%

Average Household Income $69,783 $90,752 $93,176Median Household Income $57,819 $70,128 $71,660


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PAUL PROANOCOMMERCIAL REAL ESTATE ADVISOR312-860-4043 [email protected]

Licensed in Illinois & Wisconsin

5481 N. MILWAUKEECHICAGO, ILLINOIS

5481 n. milwaukee ave. - loopnet · 2018. 9. 19. · nrt 5481 n. milwaukee ave. chicago, il • two...

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