One Chicago Offering OFFERING Memorandum MEMORANDUM REALTY 1355-1369 N Sedgwick MIXED IL USE Chicago, 60614 INVESTMENT Development Opportunity 112 W Kinzie St. Chicago, IL 60654 One Chicago Realty ONE CHICAGO COMMERCIAL 903 Commerce Drive Oak Brook, IL 60523 903 Commerce Drive, Oak Brook, IL 60523 Cell: (312) 286-9482 Main: (630) 474-5312 Cell: www.OneChicagoRealty.com (312) 286-9482 Main: (312) 971-7777 AERIAL VIEW MAP W Kinzie St N LaSalle Blvd Subject Property N Wells St 956 W Webster W Kinzie St AERIAL VIEW MAP N Clark St N Dearborn St 956 W Webster PLAT OF SURVEY FLOOR PLAN FLOOR PLAN SUMMARY Property Description One Chicago Commercial has been engaged to market 112 W Kinzie St. This 5-story mixeduse property is situated in the highly desirable River North neighborhood. Located on Kinzie St between N Clark St and N LaSalle Blvd. It sits in a desirable location, and is in good condition but has a Value-Add component which can be done to further increase your investment value. Specifics Zoning: Total Units: Unit Mix (projected): Building Size: Land Square Footage: Lot Size: DX-7 5 1 Restaurant 3 offices 1 Residential Rental 20,565 SF 4,113 SF 20 X 100 ft = 4,000 SF Additional Property Benefits/Considerations • • • • • • Rare Opportunity to invest in the heart of River North Walking distance to Downtown Loop Value-Add Component 5 min walk to all CTA Lines at Merchandise Mart Close to shopping, restaurants and entertainment Near I-90 Expressway and I-290 Asking Price: SUMMARY (cont’d) Neighborhood Overview 112 W Kinzie St is located in the bustling River North Neighborhood. Just across the Chicago River from the Loop, River North is an urban neighborhood where you'll find a well-established center for the art community brimming with galleries, production companies, photography studios and interior design businesses, as well as some of Chicago's most famous architecture. A newer addition to the neighborhood, the Trump Hotel & Tower serves as a culinary site as well as the home to some of the most gorgeous condos in the city. In addition to it’s outstanding architecture, River North offers some of the best restaurant cuisine offered in Chicago. DEMOGRAPHIC & INCOME PROFILE DEMOGRAPHIC SUMMARY INCOME 112 W Kinzie St, Chicago, Illinois, 60654 (Ring of 0.25 miles) Rings: 0.25 mile radii $89,658 $89,076 $53,173 Median Household Income Per Capita Income Median Net Worth KEY FACTS 200000+ 7,504 Population 33.5 150000-199999 Median Age 100000-149999 5,032 $67,708 Households Median Disposable Income EDUCATION 75000-99999 50000-74999 EMPLOYMENT 35000-49999 89% 25000-34999 1% White Collar 15000-24999 8% No High School Diploma Some College 3% 88% 0 Bachelor's/Grad/Prof Degree High School Graduate 3% 4.2% Blue Collar 0-14999 200 400 600 800 Unemployment Rate Services HOUSEHOLD INCOME DEMOGRAPHIC SUMMARY 8% 1,000 INCOME 112 W Kinzie St, Chicago, Illinois, 60654 (Ring of 0.5 miles) Rings: 0.5 mile radii $96,222 $94,081 $60,327 Median Household Income Per Capita Income Median Net Worth KEY FACTS 200000+ 27,825 Population 33.7 150000-199999 Median Age 100000-149999 18,420 $72,194 Households Median Disposable Income EDUCATION 75000-99999 50000-74999 EMPLOYMENT 35000-49999 90% 25000-34999 0% White Collar 15000-24999 No High School Diploma 8% 3% High School Graduate Some College 88% Bachelor's/Grad/Prof Degree 3% 3.4% Blue Collar 0-14999 0 1,000 2,000 HOUSEHOLD INCOME 3,000 7% 4,000 Services Unemployment Rate DEMOGRAPHIC & INCOME PROFILE Demographic and Income Profile 112 W Kinzie St, Chicago, Illinois, 60654 Ring: 0.25 mile radius Summary Prepared by Esri Latitude: 41.88922 Longitude: -87.63176 Census 2010 2018 2023 Population 4,920 7,504 8,756 Households 3,374 5,032 5,856 737 1,066 1,239 Families Average Household Size 1.39 1.45 1.46 Owner Occupied Housing Units 1,286 1,421 1,541 Renter Occupied Housing Units 2,088 3,611 4,316 31.6 33.5 34.6 Area State National Population Households 3.13% 3.08% 0.10% 0.12% 0.83% 0.79% Families Owner HHs 3.05% 1.63% 0.01% 0.37% 0.71% 1.16% Median Household Income 3.50% Median Age Trends: 2018 - 2023 Annual Rate 1.96% 2.50% 2018 Households by Income 2023 Number Percent Number Percent <$15,000 429 8.5% 395 6.7% $15,000 - $24,999 213 4.2% 192 3.3% $25,000 - $34,999 157 3.1% 145 2.5% $35,000 - $49,999 386 7.7% 365 6.2% $50,000 - $74,999 927 18.4% 930 15.9% $75,000 - $99,999 623 12.4% 706 12.1% $100,000 - $149,999 788 15.7% 1,060 18.1% $150,000 - $199,999 510 10.1% 699 11.9% $200,000+ 999 19.9% 1,364 23.3% Median Household Income Average Household Income Per Capita Income $89,658 $134,029 $89,076 Census 2010 Population by Age $106,508 $154,879 $102,582 2018 2023 Number Percent Number Percent Number 0-4 127 2.6% 198 2.6% 246 2.8% 5-9 39 0.8% 126 1.7% 168 1.9% 10 - 14 27 0.5% 74 1.0% 112 1.3% 15 - 19 145 2.9% 192 2.6% 203 2.3% 20 - 24 610 12.4% 587 7.8% 613 7.0% 25 - 34 2,014 41.0% 3,000 40.0% 3,164 36.1% 35 - 44 724 14.7% 1,271 16.9% 1,798 20.5% 45 - 54 519 10.6% 748 10.0% 864 9.9% 55 - 64 449 9.1% 695 9.3% 729 8.3% 65 - 74 175 3.6% 416 5.5% 572 6.5% 75 - 84 74 1.5% 145 1.9% 219 2.5% 15 0.3% 52 0.7% 68 0.8% Number Percent Number Percent Number Percent White Alone 3,660 74.4% 5,239 69.8% 5,891 67.3% Black Alone 242 4.9% 340 4.5% 355 4.1% 11 0.2% 13 0.2% 14 0.2% 737 15.0% 1,386 18.5% 1,821 20.8% 85+ Census 2010 Race and Ethnicity American Indian Alone Asian Alone Pacific Islander Alone 2018 Percent 2023 0 0.0% 1 0.0% 1 0.0% Some Other Race Alone 148 3.0% 296 3.9% 385 4.4% Two or More Races 121 2.5% 230 3.1% 289 3.3% Hispanic Origin (Any Race) 362 7.4% 703 9.4% 928 10.6% Data Note: Income is expressed in current dollars. Source: U.S. Census Bureau, Census 2010 Summary File 1. Esri forecasts for 2018 and 2023. September 18, 2018 ©2018 Esri Page 1 of 6 DEMOGRAPHIC & INCOME PROFILE KEY FACTS 7,504 EDUCATION 33.5 Population 1% Median Age 1.4 $89,658 Average Household Size Median Household Income No High School Diploma 8% Some College 3% BUSINESS 88% Bachelor's/Grad/Prof Degree High School Graduate EMPLOYMENT 89% White Collar 3% 2,335 49,072 Total Businesses Total Employees 4.2% Blue Collar 8% Unemployment Rate Services Households By Income INCOME The largest group: $200,000+ (19.9%) The smallest group: $25,000 - $34,999 (3.1%) Indicator $89,658 $89,076 $53,173 Median Household Income Per Capita Income Median Net Worth Value Difference <$15,000 8.5% -4.0% $15,000 - $24,999 4.2% -5.1% $25,000 - $34,999 3.1% -5.4% $35,000 - $49,999 7.7% -4.2% $50,000 - $74,999 18.4% +2.0% $75,000 - $99,999 12.4% +0.3% $100,000 - $149,999 15.7% +0.9% $150,000 - $199,999 10.1% +3.5% $200,000+ 19.9% +12.0% Bars show deviation from Cook County DEMOGRAPHIC & INCOME PROFILE PRO FORMA (Projected) Purchase Price Construction Cost Total Price/Unit Unit 1 2 3 4 5 $1,500,000 Unit Type Retail ($70/SF) Office Office Office Residential TOTALS CAP RATE GRM Monthly Rent $21,875 $7,000 $7,000 $7,000 $6,000 $48,875 Annual Rent $262,500 $25,200 $30,000 $25,200 $30,000 $372,900 OPERATING STATEMENT INCOME Unit Monthly Annual % Income Gross Rental Income Less: Vacancy EFFECTIVE GROSS INCOME $48,875 $0 $48,875 $372,900 $0 $372,900 100.00% 0.00% 100.00% OPERATING EXPENSES Repairs & Maintenance Insurance Management (5% of EGI) Utilities Taxes $416.67 $166.67 $1,553.75 $83.33 $7,500.00 $5,000.00 $2,000.00 $18,645.00 $1,000.00 $90,000.00 1.34% 0.54% 5.00% 0.27% 24.14% $9,720.42 $39,155 $116,645.00 $256,255 - 31.28% 68.72% TOTAL OPERATING EXPENSES NET OPERATING INCOME CAP RATE Projected - RESIDENTIAL RENTAL DATA BUILDING SALES DATA PROPERTY TAXES Dual Agency Agreement 112 W Kinzie St Chicago, IL 60654