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Offering Memorandum
Retail Center
4035-4047 W. 115th St.
Alsip, IL. 60803
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Confidentiality & Disclaimer
Boardwalk Commercial Real Estate "BCRE" has been retained as exclusive Broker for the
Owner of Record for the sale of the "Property" in this Offering Memorandum. Prospective
Purchaser hereby acknowledges receiving information regarding the Property from Boardwalk
Commercial Real Estate agrees to keep said information “Strictly Confidential”. It is intended to
be viewed only by the party receiving it from BCRE.
You further agree that although BCRE believes the evaluation material provided to Prospective
Purchaser is accurate, you understand that neither BCRE nor its directors, officers, employees,
representatives or advisors is making or is authorized to make any representations or warranty as
to the accuracy or completeness of the evaluation material provided to you and you agree that
neither BCRE nor any such person shall incur any liability to you as a result of your use or
reliance on such information. It is up to the potential Purchaser to perform his own Due
Diligence on the Property.
By accepting this Offering Memorandum you agree not to disturb any of the tenants at the
Property. You also agree not to contact the owner of the Property for any reason. All questions,
showings and information will be directed thru a Broker representative of BCRE. Additional
information will be available to interested and qualified buyers.
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Offering Memorandum
Retail Center
4035-4047 W. 115th St.
Alsip, IL. 60803
Contact Information:
Bob Petrich
President
Commercial Real Estate
708-917-3333
Boardwalk CRE
8218 Lavergne Ave
Burbank, IL 60459
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
BOARDW LK
commercial real estate
Table of Contents
1... Property Description
2... Property Summary
3... Property Photos
4... Financial Overview
5... Financing
6... CAM & Taxes
7... Rent Roll
8... Regional & Local Map
9... Aerial Map
10.. For Sale
11.. Recent Sales
12.. Demographics
TABLE OF CONTENT S
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Property Description
Retail center located at 4935-4047 W. 115th St. in Alsip, IL. The retail center is two blocks west
of 115th & Pulaski and is 100% fully leased. The leases are NNN and the tenants are long term
with extended expiration dates with options.
The property is located just across the street from Marist High School. The property is in Cook
county and draws customers & students from the area.. The tenants include:
Country Pantry
Alsip Cleaner
Zima Hair Salon
Sedona Staffing
Sail Phone
Barber Shop
Poor Dog Restaurant
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Property Summary
Number of Units:
7
Rentable Square Feet:
11,238
Lot Size:
16,642
Year Built:
1969
Electric:
110/220 V
Parking:
42
HVAC:
2200 Amp
Roof:
Rubberized
Fire Protection:
Village
Construction:
Concrete
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
BOARDW LK
commercial real estate
Property Photos
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
BOARDW LK
commercial real estate
Property Photos
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Financial Overview
Price
$1,500,000
Total Units
7
Rentable Square
Feet
11,238
Price Per Square
Foot
$133
Pass Thru & Base Rent
$0
CAM & Taxes
$53,519
Net Operating
Income
$145,254
Cap Rate
9.68%
Debt Service
$75,037
Debt Coverage
Ratio
1.94
Cash Flow After
Debt
$70,217
Total Return
18.72%
BOARDW LK
commercial real estate
Financing
Price
$1,500,000
Down Payment
25%
$375,000
Loan To Value
75%
$1,125,000
Interest Rate
4.50%
Amortization Years
25
Debt Service
$75,037
Debt Coverage
Ratio
1.94
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Income & Expense
Expenses:
Taxes $39,849.00
Management $7,170.00
Maintenance &
Repair $1,200.00
Scavenger $900.00
Insurance $2,400.00
Lawn Maintenance $800.00
Snow Plow $1,200.00
Total Expenses $53,519.00
Per square foot $ 5.07
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Rent Roll
13,041 x 12 = 156,492
Minus 53,519 x 21% = 11,238
NOI = $145,254
Tenant Unit Square Feet Base rent CAM and Taxes Total Monthly Maturity Date Options
Country Pantry 4035 2350 $2,791.00 21%
April-20 2-5years
Alsip Laundromat 4039B 1900 $1,500.00 17%
Apr-16 1-3years
Dry Cleaner 4039A 1000 $2000.00 0%
Aug-17 1-4year
Salon shop 4041A 1100 $1,250.00 9%
Aug-16 1-2year
Nexus Staffing 4041B 1238 $1,200.00 0%
Mar-15 1-2year
Cell Phone 4043 900 $1,100.00 8%
Apr-16 1-2year
Barber Shop 4045 850 $1000.00 8%
Aug-19 1-2year
Poor Dog Restaurant 4047 1800 $2200.00 16%
TOTAL: 11,238
$13,041.00
79%
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Regional Map
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Local Map
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
BOARDW LK
commercial real estate
Aerial Map
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
Demographics
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings
BOARDW LK
commercial real estate
Demographics
BOARDW LK
commercial real estate
Boardwalk Commercial Real Estate
Apartment Buildings... Retail Centers... Office Buildings