for sale or lease redevelopment 99 east state st. … · 2019-05-29 · for sale or lease 99 east...

www.cbre.com/karen.walsh

99 EAST STATE ST.ROCKFORD, ILLINOIS

FOR SALE OR LEASEREDEVELOPMENT OPPORTUNITY

FOR SALE OR LEASE

99 EAST STATE ST., ROCKFORD, IL

PROPERTY HIGHLIGHTS

+Unique redevelopment opportunity. Architec-

turally rich building containing 170,000 SF.

+Prominent landmark located in the heart of

Rockford’s Downtown Entertainment and Arts

District.

+Nine Floors of river views.

+Sale/leaseback opportunity with RRStar (Gate-

House Media) plus additional rental income in

place.

+Additional space available for lease.

+100 surface parking spaces on site as well as

potential for underground below north end of

building. Additional 96 (approximate) spaces

in nearby owned lot.

+National Register of Historic Places.

DANE AIRPORT

REGIONAL MAP

FOR SALE OR LEASE


DANE COUNTY REGIONAL AIRPORT

GENERAL MITCHELL INTERNATIONAL

AIRPORT

CHICAGO O’HAREINTERNATIONAL AIRPORT

99 EAST STATE ST.ROCKFORD, IL

CHICAGO ROCKFORDINTERNATIONAL

AIRPORT

LOCATION MAP

FOR SALE OR LEASE


20

20

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51

90

90

39

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76

2

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70

251

251

Edgewood

Rockford

Belvidere

Cherry Valley

Loves ParkW Riverside Rd

E Riverside Blvd

Orth Rd

Woodstock Rd

Beloit Rd

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Shaw

Rd

Logan Ave

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Roc

kton

Ave

Halsted Rd River Ln

Highcrest RdGuilford Rd

Rote Rd

Mill

Rd Newburg Rd

Squaw Prairic Rd

Spring Creek Rd

Riverside Rd

Gulfford RdRural St

Auburn St

Spring Creek Rd

Harlem Rd

School St

15th Ave

5th Ave

Broadway

Charles St

Beltline Rd

Kishwauke

e Rd

Prai

ree

Rd

Fore

st H

ills

Rd

Harrison Ave

Sandy Hollow RdSimpson Rd

Samuelson Rd

Baxter Rd

Blomberg Rd

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lpin

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Elm

Ave

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choo

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Paul

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Perr

yvill

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Iren

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Ogilby Rd

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Chicago RockfordInternational Airport

Ohi

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Spring Brook Rd

Rock Cut State Park

Deer Run Forest Preserve

99 E. State St.Rockford, IL

AERIAL

FOR SALE OR LEASE


FOR SALE OR LEASE


AREA DESCRIPTION

+Nearby attractions include the Sinnissippi Bike Path, newly con-

structed UW Health Sports Facility (one of the largest sports

facilities in the Midwest), BMO Harris Bank Convention Center,

Coronado Performing Arts Center, Tinker Swiss Cottage and

Museum, Discovery Center Museum, Rockford City Market and

the Burpee Museum of Natural History, Stroll on State.

+Downtown Rockford is full of unique shops, boutiques,

galleries, gourmet eateries and one-of-a-kind destinations

PHOTOS

FOR SALE OR LEASE


FOR SALE OR LEASE


LOWER LEVEL FLOOR PLAN

FOR MORE

INFORMAT ION

PLEASE

CONTACT:

Karen B. Walsh, CCIMFirst Vice President +1 815 218 3438 [email protected]

Jennifer BerrySales Associate +1 815 871 6156 [email protected]



FOR SALE OR LEASE


1ST FLOOR PLAN

FOR MORE

INFORMAT ION

PLEASE

CONTACT:



FOR SALE OR LEASE


2ND FLOOR PLAN



FOR MORE

INFORMAT ION

PLEASE

CONTACT:



FOR SALE OR LEASE


TOWER FLOOR PLANS

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INFORMAT ION

PLEASE

CONTACT:





FOR SALE OR LEASE


ROCKFORD MARKET OVERVIEW

The City of Rockford, county seat of Winnebago County, is located on both banks of the Rock River in far northwestern Illinois. Rockford is the third largest city in Illinois and is located 50 miles west of the Chicago Metropolitan Area. Rockford is well known for its elm trees, hence its nickname “the Forest City”. Many of the city’s parks were part of the street layout in the late 1890's and early 1900's when subdivisions of that era were created. This extensive park system is now overseen by the Rockford Park District, one of the largest and most awarded park districts in the state of Illinois.

Neighboring communities that border Rockford - Cherry Valley, Loves Park, Machesney Park, Roscoe, Rockton, Belvidere, Winnebago, Poplar Grove, and New Milford - are considered an integral part of the Rockford metro area. The Rock River is the traditional center of the Rockford area and the city's most recognizable natural feature. However, the city's center has been shifting east over the past twenty-five years as development has moved towards Interstate 90. Also of note, South Beloit, Illinois and Beloit, Wisconsin are part of this continuous urban area that stretches for approximately 30 miles along the Rock River, south from the Chicago Rockford International Airport, and north to the Southern Wisconsin Regional Airport in Beloit, Wisconsin.

Rockford has rich multi-cultural roots, dating back to 1835 when thousands of Swedish immigrants settled in Rockford between 1835 and the early 1900’s. Immigrants arriving in Chicago from New York encountered a cholera epidemic, so they rode the trains west to the end of the line at Rockford. The Swedes’ metal and woodworking craftsmanship made Rockford a leading furniture center, with more than 90 furniture companies in existence between 1835 and 1960. Their descendants remained at the forefront of Rockford industry, adapting to changing needs and technologies. Soon, Italian, German, Irish and Polish immigrants settled in Rockford, adding to the city’s rich ethnic heritage.

Industry and Employment

Rockford has deep roots in the manufacturing community with high employment concentrations in machining, metalworking, fastener fabrication and distribution, and transportation equipment industries, particularly aerospace and automotive design and manufacturing. These industries require highly-skilled technical employees, and historically, Rockford employees have generated higher productivity levels than the national average. With recent expansion announcements coming from the aerospace and automotive area, the community is poised to see significant job growth with over 1,000 new employees being sought in these industries alone.

The Rockford metropolitan area is increasingly being influenced by development trends that are taking place in the western edges of the Chicago metropolitan area. With the completion of the I-90 lane expansion in 2016, the distance between the urban fringe of the Chicago metro area and Winnebago County (roughly the distance between Huntley/Elgin and Rockford) is less than 30 miles and a driving distance of under 45 minutes in normal traffic.

Trade & Labor22%

Service Personnel

18%Executive & Professional

35%

Administrative & Support

25%

Rockford 2013 Estimated Employees

Rockford Business Occupation By Sector



FOR SALE OR LEASE


BUSINESS ENVIRONMENT

As office and industrial development move further northwest from Chicago along Interstate 90 (the Jane Adams Tollway) and the highway expansion to accommodate increased traffic is completed, the Rockford metro area has been seeing increased attention from major corporations willing to locate and expand in the area. The region’s newest expansion focus has been on high-technology design and manufacturing businesses and back office support centers, as well as the ever expanding tourism revenue generated by museums, sporting venues, and its extensive park system. One such high technology business is UTC, the world’s largest supplier of technologically advanced aerospace and defense products. In 2012 Rockford saw the establishment of UTC Aerospace Systems through combining BF Goodrick with Hamilton Sundstrand, a longstanding Rockford company dating back to the turn of the century. Today, the company workforce consist of over 2,200 primarily engineering and management employees.

The 1960’s saw expansion of manufacturing with a new Chrysler Assembly Plant, completed in 1965, and located in Belvidere (southeast of Rockford). The factory has roughly 4 million SF of floor space spread over 280 acres of land. On the heels of completing a $600 million expansion in 2012, FCA announced in 2016 that the corporation will invest an additional $350 million in the Belvidere Assembly Plant in preparation for starting production of the Jeep Cherokee. FCA currently employs 4,700 and is expected to add 300 new positions by mid 2017. With the entrance of the Jeep Cherokee, Tier 1 suppliers – including Yanfeng Automotive (world’s largest supplier of automotive interiors), Toledo Molding and Die, and Magna Extrusion among others - are also expanding in the area, building a total of 700,000 SF and adding approximately 1,000 new manufacturing and management jobs.

The Woodward Company (HQ: Ft. Collins, CO) in 2013 completed construction of a new 300,000 SF second campus in Loves Park, north of Rockford, on a 60 acre site. The facility is part of a $200 million investment in the Rockford community to expand Woodward's design and manufacturing capabilities in providing control solutions for the aerospace and energy markets. With the expansion, Woodward expected to double its

local employment base of highly trained engineers and skilled production workers. Current employment is at 1,200 and expected to continue to grow over the next five to ten years.

Other recent industry expansion has been in the area of healthcare. All three of Rockford's major health systems have seen significant growth in recent years. In 2008, OSF Saint Anthony established its Rock Cut Regional Care facility in Machesney Park. In 2006, Swedish American completed construction of a new cardiac care hospital on its main campus, and in 2013, completed construction of a new state-of-the-art regional cancer center situated along Interstate 90. Additionally, in late 2014, Swedish American announced its merger with the University of Wisconsin's UW Health system, cementing and expanding a formal affiliation that began in 2010. This merger is expected to have a major impact on the research and delivery of medical care in northern Illinois and southeastern Wisconsin.

In October 2014, Rockford Health System and Mercy Health Systems also announced plans to merge and create a new, multi-region integrated health system comprising five hospitals, 550 physicians and 80 outpatient clinics in northern Illinois and southern Wisconsin. In mid 2016, Mercy/Rockford Memorial began breaking ground on a new $485 million women’s and children’s hospital and rehabilitation facility on its site just east of I-90.

ROCKFORD LARGEST EMPLOYERSRockford Public School District Education 4,800

Chrystler Belvidere Assembly Plant Automotive 4,375

SwedishAmerican Hospital Healthcare 2,600

Rockford Health System Healthcare 2,500

United Technologies Corp. Aerospace Mfg. 2,200

St. Anthony Medical Center Healthcare 2,000

United Parcel Service Logistics 2,000

FOR SALE OR LEASE


TRANSPORTATION

Rockford is linked by highway to Chicago, Illinois; Madison, Wisconsin; and Milwaukee, Wisconsin by three major interstate systems: Interstate 90, Interstate 39, and Interstate 43.

Rockford is also served by several different freight railroad lines operated by Union Pacific; Canadian National; Iowa, Chicago & Eastern (Canadian Pacific); and Illinois Railway. Union Pacific Railroad’s Global III Intermodal Facility is located approximately 25 miles south of Rockford in Rochelle, Illinois, a community of 10,000. The complex is one of the largest intermodal facilities in the world.

Chicago-Rockford International Airport (RFD) is located in the southwestern end of the city, 85 miles northwest of Chicago, and encompasses over 3,000 acres. RFD is home to the second largest regional parcel-sorting facility in the UPS system - the only facility of its type that handles coast-to-coast cargo. In 2014, the area saw the completion of Fed Ex’s 186,000 SF Cherry Valley facility, an expansion of their presence in Rockford.

The airport has progressively evolved from a general aviation facility to a dynamic commercial service airport. RFD is a United States Customs Port of Entry, is home to 30 industrial tenants, and is a grantee for Foreign Trade Zone #176. The advantage of this designation is that the approved location has a specially-designated area considered to be outside of U.S. Customs territory. For that reason, when cargo arrives in the country for an FTZ operator, goods may immediately clear Customs. The cargo receives preferential treatment with duties deferred, reduced or eliminated. In addition, there are supply chain, inventory control and other savings available through the FTZ program.

The diverse activities at RFD cause it to have a greater economic impact on the region it serves than any other commercial service airport in the State of Illinois, excluding the city of Chicago’s system of airports. In 2016, the airport also completed a 200,000 SF maintenance, repair and overhaul facility in partnership with the world’s third largest MRO provider, AAR. This facility is expected to draw business from around the US and employ up to 500. Passenger service is provided by Allegiant Air along with several other charter operations.

Rockford University (formerly Rockford College) has deep roots in Rockford, first chartered in 1847. Its best known graduate is Jane Adams (RFS Class of 1881), the founder of Chicago’s Hull House and recipient of the Nobel Peace Prize in 1931. Rockford University currently enrolls 1,300 undergraduate students. In addition to its undergraduate programs, the university offers pre-professional programs in pre-law, pre-medicine and related areas, and two graduate programs: Master of Arts in Teaching and Master of Business Administration.

Along with Rockford University, the city is the home to Rock Valley College, a community college serving 7,400 credit and 25,000+ non-credit students, Rockford Career College, St. Anthony College of Nursing and the University of Illinois at Chicago (“UIC”). At its Rockford campus, UIC offers three programs: College of Medicine, College of Nursing, and College of Pharmacy. In addition, several satellite branches of other schools, including Judson University (based in Elgin), Northern Illinois University (based in DeKalb), and Rasmussen College are present in the Rockford area.

The Rockford Public School District (RPS) covers about 170 square miles and serves over 28,700 students with 4,700 full and part-time employees. It is the third largest school district in the state, with 31 early education and elementary schools, six middle schools, and five high schools. In addition, Rockford supports 27 excellent sectarian and nonsectarian private schools ranging from elementary to secondary education. The surrounding communities in Rockford are supported by six quality neighboring school districts serving the balance of the area’s public school population. In 2014, the Rockford Public School District, supported by a $76.1 million referendum, launched a new capital improvement program including an emphasis on technology advancements and school safety that is now nearing completion.

EDUCATION

FOR SALE OR LEASE


DEMOGRAPHICS

© 2018 CBRE, Inc. The information contained in this document has been obtained from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, Inc. has not verified it and makes no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. Photos herein are the property of their respective owners and use of these images without the express written consent of the owner is prohibited. CBRE and the CBRE logo are service marks of CBRE, Inc. and/or its affiliated or related companies in the United States and other countries. All other marks displayed on this document are the property of their respective owners.

CONTACT US

FOR SALE OR LEASE


www.cbre.com/karen.walsh



CBRE, Inc. 973 Featherstone Rd. Rockford, IL 61107

for sale or lease redevelopment 99 east state st. … · 2019-05-29 · for sale or lease 99 east...

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