for sale boxes to buses self storage portfolio · 2012-04-18 · 575 larry power road, bourbonnais,...
TRANSCRIPT
FOR SALE
The Boxes to Buses Self Storage Portfolio are two institutional-quality facilities located about one mile apart in Bourbonnais, Illinois, about 60 minutes south of Chicago, off of Interstate 57. The
properties are located within the Route 50 retail corridor, the premier retail destination for Kankakee County, and is comprised of the Northfield Square Mall, at 530,000 sq. ft. shopping center anchored by Carson Pirie Scott, JC Penney and Sears, and big-box retailers Wal-Mart, Target, Kohl’s, Lowe’s, Best Buy, Kmart, Menards, hotels, restaurants and car dealerships. Bourbonnais is home to both Olivet Nazarene University and the summer training camp of the Chicago Bears NFL football team. The facilities serve the communities of Bourbonnais, Bradley and Kankakee, as well as Manteno to Momence.
The single-story portfolio is 94.1% occupied and consists of 131,427 rentable square feet. Revenue increased 21% in 2011. The portfolio consists of 786 storage units and 38 RV/parking spaces, and 14.6% of space is climate controlled. Both facilities feature excellent street visibility, property signage, and curb appeal along primary east/west thoroughfares for the community and near ingress/regress for Interstate 57. Traffic count for Armour Boulevard is approximately 19,400 daily. The facilities feature high-end retail offices, climate controlled space, exterior drive-up units, oversized units, wide paved driveways, and bright lighting throughout. The security features include 24-hour digital surveillance, flat screen monitors, digital key pad access, automatic gate access, and perimeter fencing. The offering represents an ideal opportunity for an investor to purchase a stabilized, best-in-class portfolio with $833,563 in Gross Income and $479,257 of Net Operating Income in 2011.
Exclusive Agents:
Marc A. Boorstein, CCIMPrincipal312.726.5800 [email protected]
Jeffrey L. JacobsonPrincipal312.726.5800 [email protected]
David E. Kohn, CCIMVice President312.726.5800 [email protected]
MJ PARTNERSSELF STORAGE GROUP
150 S. Wacker Drive, Suite 450Chicago, Illinois 60606312.726.5800312.726.2905 faxwww.mjpartners.com
1847 Armour Road, Bourbonnais, Illinois
BOXES TO BUSESSELF STORAGE PORTFOLIO
B o u r b o n n a i s , I l l i n o i s
575 Larry Power Road, Bourbonnais, Illinois
BOXES TO BUSES SELF STORAGE PORTFOLIO
B o u r b o n n a i s , I l l i n o i s
171
50
34
34
6464
38
99
36
30
59
53 52
45
63
6
45
114
41
11317
16
54
25
10
20
28
1
2155
55
55
5588
290
290
294
355
9457
57
57
90
90
80
80
294
55
ChicagoSt. Charles
Bolingbrook
Orland Park
Joliet
ChicagoHeights
Bourbonnais
Coal City
Channahon
Bon�eld
Manteno
Monee
Schereville
Lake Village
Momence
ParkForest
Peotone
Shorewood
Aurora Westmont
Berwyn
Oak Park
Naperville
Blue Island
N
Kankakee
94
1847 ARMOUR ROADBOURBONNAIS, ILLINOIS
575 LARRY POWER ROADBOURBONNAIS, ILLINOIS
MJ Partners Real Estate Services • 150 S. Wacker Drive, Suite 450 • Chicago, Illinois 60606 • 312.726.5800 • www.mjpartners.com
No warranty or representation, expressed or implied is made as to the accuracy of the information herein, and same is submitted subject to errors, omissions, change of price or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.
O f f e r i n g H i g h l i g h t s
�•� Premier�Retail�Locations:�Properties are located within the Route 50 Retail Corridor, comprised of the Northfield Square Mall, a 530,000 sq. ft. shopping center anchored by department stores Carson Pirie Scott, JC Penney and Sears, and big-box retailers Wal-Mart, Target, Kohl’s, Lowe’s, Best Buy, Kmart, Menards, as well as other retailers and restaurants.
�•� Institutional-Quality� Assets:� Facilities feature single-story design, climate controlled space, exterior drive-up units, high-end retail offices, 24-hour digital surveillance and digital key pad automatic gate access.
�•� Highly�Visible�Locations:�The facilities features excellent signage and visibility located on heavily travelled, primary thoroughfares with high traffic counts.
�•� List�Price:�$6,675,000
P o r t f o l i o S u m m a r y
Total Net Rentable Area: 131,427 sq. ft.Number of Self Storage Units: 786 unitsNumber of RV/Parking Spaces: 38 spacesPhysical Occupancy: 94.1%Gross Potential Rental Income (100%): $1,100,424Total Gross Income: $833,5632011 Net Operating Income $479,257
5 7 5 L a r r y P o w e r R o a d , B o u r b o n n a i s , I l l i n o i s
Total Net Rentable Area: 83,335 sq. ft.Number of Self Storage Units: 446 unitsNumber of RV/Parking Spaces: 38 spacesPhysical Occupancy: 96.9%Year Opened: 2006
1 8 4 7 A r m o u r R o a d , B o u r b o n n a i s , I l l i n o i s
Total Net Rentable Area: 48,092 sq. ft.Number of Self Storage Units: 340 unitsPhysical Occupancy: 90.5%Year Opened: 2001Renovated: 2010