autozone & dollar tree anchored | 43,667 sf multi … · 2020. 5. 21. · autozone & dollar...

10
AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. & 557-565-567 WEST 14 TH ST., CHICAGO HEIGHTS, IL MARK JONES, CCIM | Senior VP, Investment Sales [email protected] | 312.335.3229 FOR SALE: $7,250,000 Jameson Commercial Real Estate 425 W. North Avenue | Chicago www.jamesoncommercial.com ESTHER BERMAN | Senior Vice President [email protected] | 847.274.9444

Upload: others

Post on 10-Mar-2021

3 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA1333 HILLTOP AVE. & 557-565-567 WEST 14TH ST., CHICAGO HEIGHTS, IL

MARK JONES, CCIM | Senior VP, Investment [email protected] | 312.335.3229

FOR SALE:$7,250,000

Jameson Commercial Real Estate425 W. North Avenue | Chicagowww.jamesoncommercial.com

ESTHER BERMAN | Senior Vice [email protected] | 847.274.9444

Page 2: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

EXECUTIVE SUMMARY

PROPERTY HIGHLIGHTS• Anchored by AutoZone & Dollar Tree with a mix of strong regional

tenants• At the high traffic retail hub of Western & US 30 with MacDonald’s,

Food For Less, a new Super Walmart, O’Reillys, FedEx and other national and local retailers

• 4 Free-standing masonry buildings located at the signalized intersection of Hilltop Ave. & Rt. 30 (14th ST)

• Central to border communities of Flossmoor and Olympia Fields as well as Chicago Heights

• Owner to master lease vacancy upon sale

LAND AREA: 3.943 ACRES

BUILDINGS: 43,667 SF

NOI: $616,277

ASKING PRICE: $7,250,000

CAP RATE: 8.5%

Page 3: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

ADDITIONAL PHOTOS1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Page 4: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

RENT ROLL & FINANCIALS1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Tenant Name SQ. Ft. % Share Start Expires $/SF Monthly Annual OptionsBldg. A Dollar Tree Stores, Inc 11,538 26.5% 10/23/2007 1/31/2022 9.50$ 11,057.25$ 2/1/20-1/31/22-$109,611.00 None

Freeway Insurance 1,390 3.2% 7/27/2016 7/31/2024 13.53$ 1,566.67$

8/1/19-7/31/20 - $19,176.03 8/1/20-7/31/21 - $19,559.55 8/1/21-7/31/24 - $21,515.50 None

Vacant 2,923 6.7% 16.00$ 3,897.33$ $46,768.00

AAMCO 3,592 8.2% 3/10/2019 3/31/2024 10.32$ 3,090.00$ $37,080.00

2-5yr. Options 1st Option: 4/1/24-3/31/29 - $40,788.00 2nd Option: 4/1/29-3/31/34 - $44,866.80

Bldg. B AutoZone 7,370 16.9% 10/27/2007 10/31/2028 14.62$ 8,978.00$ $107,736.00

3-5 yr. Options 1st Option: 11/1/28-10/31/33 - $118,500.00 2nd Option: 11/1/33-10/31/38 - $130,356,00 3rd Option: 11/1/38-10/31/43 - $143,388.00

Bldg. C Cleaners Depot 2,992 6.9% 7/10/2008 7/31/2026 16.00$ 3,989.33$ 8/1/18-7/31/24 - $47,872.00 8/1/24-7/31/26 - $50,864.00 1-5 yr. Option: 8/1/26-7/31/31 - $56,848.00

Dental Dreams 5,769 13.2% 11/1/2008 8/31/2024 18.70$ 8,990.03$ $113,274.32 1-5 yr. Option: 9/1/24-8/31/29 - $124,601.75

Bldg. D Cash America 6,498 14.9% 7/19/2011 7/31/2021 16.00$ 8,664.00$ $103,968.00

3-5 yr. Options 1st Option: 8/1/21-7/31/26 - $110.466.00 2nd Option 8/1/26-7/31/31 - $116,964.00 3rd Option 8/1/31-7/31/36 - $123,462.00

TCC Wireless, LLC dba T-Mobile 1,505 3.5% 9/1/2016 8/31/2021 29.15$ 3,655.90$ $43,870.75 1-5 yr. Option: 9/1/21-8/31/26 - $48,257.83

Total Leased Area 43,577 100.0% 8.97$ 32,578.59$ $629,356.10Total Bldg. Sq. Ft. 43,667

Rent Income $629,356CAM & Insurance Reimbursements $62,984RE Tax Reimbursement $513,757

Gross Income $1,206,097

Operating Expenses (2019 Actual)Landscaping/Snow Plowing $19,266General Maintenance/Roof/Repairs $16,562Utilities $29,904Insurance $10,331

Total Operating Expenses $76,063

2018 Payable in 2019 Real Estate Taxes $513,757

Net Income $616,277$/SF Cap Rate

Asking Price $166 8.50% $7,250,000

Leases are modified NNN leases. Tenants responsible for the maintenance of their leased premises and prorata share of the common area maintenance, real estate taxes and insurance. Landlord responsible for roof, structure, slab and foundation and exterior maintenance of the buildings. Owner to master lease vacancy for 18 months on a net lease basis. * Total leased square footage does not include a 90 SF sprinkler room. Total building square footage is 43,667 SF.

Rent

Rent Roll/ Financial ProformaChicago Heights Hilltop Plaza & Rt.30 Plaza

1333 Hilltop Ave. & 565-567 & 557 West 14th ST., Chicago Heights, IL

Lease Term

Owner to Master Lease

Page 5: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

SURVEY1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Page 6: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

RETAIL MAP1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

qqSITE

Page 7: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

LOCATION MAP1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

qqSITE

Page 8: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

TRAFFIC MAP1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Traffic Count Map565 W 14th St, Chicago Heights, Illinois, 60411 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 41.50604

Longitude: -87.66737

Source: ©2019 Kalibrate Technologies (Q4 2018).

June 20, 2019

©2019 Esri Page 1 of 1

Page 9: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

DEMOGRAPHICS1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Executive Summary565 W 14th St, Chicago Heights, Illinois, 60411 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 41.50604

Longitude: -87.66737

1 mile 2 miles 3 milesPopulation

2000 Population 14,908 45,413 88,2062010 Population 14,109 43,803 85,8382018 Population 13,786 43,215 84,5572023 Population 13,610 42,823 83,8312000-2010 Annual Rate -0.55% -0.36% -0.27%2010-2018 Annual Rate -0.28% -0.16% -0.18%2018-2023 Annual Rate -0.26% -0.18% -0.17%2018 Male Population 48.1% 47.9% 47.3%2018 Female Population 51.9% 52.1% 52.7%2018 Median Age 34.6 37.2 37.8

In the identified area, the current year population is 84,557. In 2010, the Census count in the area was 85,838. The rate of change since 2010 was -0.18% annually. The five-year projection for the population in the area is 83,831 representing a change of -0.17% annually from 2018 to 2023. Currently, the population is 47.3% male and 52.7% female.

Median Age

The median age in this area is 34.6, compared to U.S. median age of 38.3.Race and Ethnicity

2018 White Alone 27.0% 36.8% 38.9%2018 Black Alone 55.7% 45.8% 46.8%2018 American Indian/Alaska Native Alone 0.5% 0.4% 0.4%2018 Asian Alone 0.8% 1.1% 1.3%2018 Pacific Islander Alone 0.0% 0.1% 0.0%2018 Other Race 12.8% 12.4% 9.0%2018 Two or More Races 3.3% 3.5% 3.6%2018 Hispanic Origin (Any Race) 23.2% 25.0% 19.8%

Persons of Hispanic origin represent 19.8% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 74.7 in the identified area, compared to 64.3 for the U.S. as a whole.

Households2000 Households 4,773 15,956 32,4182010 Households 4,487 15,248 31,5992018 Total Households 4,371 14,995 31,1062023 Total Households 4,306 14,825 30,8002000-2010 Annual Rate -0.62% -0.45% -0.26%2010-2018 Annual Rate -0.32% -0.20% -0.19%2018-2023 Annual Rate -0.30% -0.23% -0.20%2018 Average Household Size 3.07 2.80 2.67

The household count in this area has changed from 31,599 in 2010 to 31,106 in the current year, a change of -0.19% annually. The five-year projection of households is 30,800, a change of -0.20% annually from the current year total. Average household size is currently 2.67, compared to 2.67 in the year 2010. The number of families in the current year is 20,961 in the specified area.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

June 20, 2019

©2019 Esri Page 1 of 2

Page 10: AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI … · 2020. 5. 21. · AUTOZONE & DOLLAR TREE ANCHORED | 43,667 SF MULTI-TENANT RETAIL CENTER | CHICAGO MSA 1333 HILLTOP AVE. &

DEMOGRAPHICS1333 HILLTOP AVE & 557 & 556-567 W. 14TH ST.CHICAGO HEIGHTS, IL

©Jameson Real Estate LLC. All information provided herein is from sources deemed reliable. No representation is made as to the accuracy thereof & it is submitted subject to errors, omissions, changes, prior sale or lease, or withdrawal without notice. Projections, opinions, assumptions & estimates are presented as examples only & may not represent actual performance. Consult tax & legal advisors to perform your own investigation.

Executive Summary565 W 14th St, Chicago Heights, Illinois, 60411 Prepared by EsriRings: 1, 2, 3 mile radii Latitude: 41.50604

Longitude: -87.66737

1 mile 2 miles 3 milesPopulation

2000 Population 14,908 45,413 88,2062010 Population 14,109 43,803 85,8382018 Population 13,786 43,215 84,5572023 Population 13,610 42,823 83,8312000-2010 Annual Rate -0.55% -0.36% -0.27%2010-2018 Annual Rate -0.28% -0.16% -0.18%2018-2023 Annual Rate -0.26% -0.18% -0.17%2018 Male Population 48.1% 47.9% 47.3%2018 Female Population 51.9% 52.1% 52.7%2018 Median Age 34.6 37.2 37.8

In the identified area, the current year population is 84,557. In 2010, the Census count in the area was 85,838. The rate of change since 2010 was -0.18% annually. The five-year projection for the population in the area is 83,831 representing a change of -0.17% annually from 2018 to 2023. Currently, the population is 47.3% male and 52.7% female.

Median Age

The median age in this area is 34.6, compared to U.S. median age of 38.3.Race and Ethnicity

2018 White Alone 27.0% 36.8% 38.9%2018 Black Alone 55.7% 45.8% 46.8%2018 American Indian/Alaska Native Alone 0.5% 0.4% 0.4%2018 Asian Alone 0.8% 1.1% 1.3%2018 Pacific Islander Alone 0.0% 0.1% 0.0%2018 Other Race 12.8% 12.4% 9.0%2018 Two or More Races 3.3% 3.5% 3.6%2018 Hispanic Origin (Any Race) 23.2% 25.0% 19.8%

Persons of Hispanic origin represent 19.8% of the population in the identified area compared to 18.3% of the U.S. population. Persons of Hispanic Origin may be of any race. The Diversity Index, which measures the probability that two people from the same area will be from different race/ethnic groups, is 74.7 in the identified area, compared to 64.3 for the U.S. as a whole.

Households2000 Households 4,773 15,956 32,4182010 Households 4,487 15,248 31,5992018 Total Households 4,371 14,995 31,1062023 Total Households 4,306 14,825 30,8002000-2010 Annual Rate -0.62% -0.45% -0.26%2010-2018 Annual Rate -0.32% -0.20% -0.19%2018-2023 Annual Rate -0.30% -0.23% -0.20%2018 Average Household Size 3.07 2.80 2.67

The household count in this area has changed from 31,599 in 2010 to 31,106 in the current year, a change of -0.19% annually. The five-year projection of households is 30,800, a change of -0.20% annually from the current year total. Average household size is currently 2.67, compared to 2.67 in the year 2010. The number of families in the current year is 20,961 in the specified area.

Data Note: Income is expressed in current dollarsSource: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. Esri converted Census 2000 data into 2010 geography.

June 20, 2019

©2019 Esri Page 1 of 2