Upload
others
View
15
Download
0
Embed Size (px)
Citation preview
Offering Memorandum
TOD OPPORTUNITY • DOWNTOWN DES PLAINES750 Lee St • Des Plaines, IL 60016
Rick GordonSenior AssociateDirector - National Land GroupChicago Oak Brook OfficeTel: (630) 570-2200Fax: (630) [email protected]
License: IL 471.014823
P R E S E N T E D B Y
N O N - E N D O R S E M E N T A N D D I S C L A I M E R N O T I C E
Confidentiality and DisclaimerThe information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewedonly by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without thewritten consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information toprospective purchasers, and to establish only a preliminary level of interest in the subject property. The information containedherein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makesno warranty or representation, with respect to the income or expenses for the subject property, the future projected financialperformance of the property, the size and square footage of the property and improvements, the presence or absence ofcontaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of theimprovements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions tocontinue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained fromsources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information containedherein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representationwhatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriatemeasures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real EstateInvestment Services, Inc. © 2017 Marcus & Millichap. All rights reserved.
Non-Endorsement NoticeMarcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketingpackage. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship orendorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commerciallisting of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing toprospective customers.
ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY.PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS.
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL Des Plaines, ILACT ID Y0670550
2
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
3
INVESTMENT
OVERVIEW
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
OFFERING SUMMARY
1 Block to Metra Train Station – 35 min. to downtown Chicago
Large parcel to develop an institutional size project
Close to retail, entertainment, transportation and major employment
INVESTMENT HIGHLIGHTS
Marcus & Millichap is pleased to offer for sale a significant +/-2.5 acre TOD opportunity in downtown Des Plaines, IL. Des Plaineswas recently named by Money Magazine & realtor.com as the 35th best place to live in the country.
The parcel is centrally located in the downtown and it is one block south of the Metra Commuter Rail Station (1,200+ daily weekdaycommuters, 35 minutes to downtown Chicago). Many restaurants, services, the Des Plaines River Trail and a grocer are within a shortwalk. Furthermore, O'Hare, the Allstate Arena, national retailers and Rosemont (upscale dinning, live theater, Fashion Outlets ofChicago), to name a few, are located within a 10 to 15 minute drive of the parcel. There are 280,000+ employees within a 15 minutedrive.
The parcel has great visibility, fronting on three streets of which two are major north-south streets, with over 30,000 VPD.
The parcel is zoned C-5 Central Business District and besides the typical permitted commercial uses, multi-family is a permitted usein this district. The City is willing to vacate the alley that bisects the parcel. The structures fronting on Lee Street have beendemolished by the owner.
Of note, this parcel is one of the largest, whether for sale or not, TOD parcels in the close-in northwest suburbs from Park Ridge toArlington Heights. Directly across the street, on the east side of Lee Street, is a new 58-unit townhome community called LexingtonPointe. The vertical construction just started and the project is already almost 20% sold, without any models available for viewing.Although townhomes are a different product type than what will be built on the subject parcel, this activity confirms the appeal of thedowntown Des Plaines residential market.
INVESTMENT OVERVIEW
4
OFFERING SUMMARYPrice $6,500,000Down Payment 100% / $6,500,000Lot Size (SF) 108,900Price/SF $59.69Lot Size (Acres) 2.5 acre(s)Price/Acre $2,600,000Type of Ownership Fee Simple
#
OFFERING SUMMARY
#
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
5
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
5
PRICE
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
OFFERING DESCRIPTION
6
THE OFFERING
Property TOD Opportunity - Downtown Des Plaines, IL
Property Address 750 Lee St, Des Plaines, IL
Assessors Parcel Number Multiple PINs
Lot Size (SF) 108,900
Lot Size (Acres) 2.5
Type of Ownership Fee Simple
SITE DESCRIPTION
Zoning C-5 Central Business District
Future Land Use Plan Mixed Use - High Density
Lot Size Dimensions Irregular
Utilities At the site
Wetlands None
Flood Plain None
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
7
LOCATION
OVERVIEW
CONVENIENT LOCATION
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
8
5 – 10 Min. 10 – 15 Min.
DOWNTOWN DES PLAINES AERIAL
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
9
REGIONAL MAP
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
10
LOCAL MAP
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
11
PARCEL MAP
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
12
ZONING MAP
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
13
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
14
DEMOGRAHICS
OVERVIEW
PROPERTY NAME
MARKETING TEAM
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
DEMOGRAPHICS
Source: © 2016 Experian
Created on October 2017
POPULATION 1 Miles 3 Miles 5 Miles 2021 Projection
Total Population 19,984 134,488 323,724
2016 Estimate
Total Population 19,049 132,711 319,812
2010 Census
Total Population 18,631 130,018 314,186
2000 Census
Total Population 16,907 128,820 315,034
Daytime Population
2016 Estimate 16,971 145,347 405,155
HOUSEHOLDS 1 Miles 3 Miles 5 Miles 2021 Projection
Total Households 9,264 52,129 125,921
2016 Estimate
Total Households 8,754 51,287 123,734
Average (Mean) Household Size 2.14 2.55 2.56
2010 Census
Total Households 8,516 50,001 120,957
2000 Census
Total Households 7,526 49,830 121,427
HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles 2016 Estimate
$250,000 or More 2.42% 2.99% 4.37%
$200,000 - $249,999 1.31% 1.79% 2.66%
$150,000 - $199,999 4.82% 5.48% 6.53%
$125,000 - $149,999 5.20% 5.42% 6.20%
$100,000 - $124,999 9.17% 9.88% 10.01%
$75,000 - $99,999 13.44% 13.71% 14.01%
$50,000 - $74,999 19.66% 19.38% 18.12%
$35,000 - $49,999 13.22% 14.05% 12.96%
$25,000 - $34,999 10.50% 9.55% 9.23%
$15,000 - $24,999 10.87% 9.42% 8.46%
Under $15,000 9.38% 8.30% 7.47%
Average Household Income $76,776 $83,223 $94,347
Median Household Income $58,562 $60,820 $66,037
Per Capita Income $35,459 $32,338 $36,648
15
PROPERTY NAME
MARKETING TEAM
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
DEMOGRAPHICS
Source: © 2016 Experian
Created on October 2017
POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population by Age
0 to 4 Years 5.65% 5.76% 5.62%
5 to 14 Years 8.64% 10.95% 11.69%
15 to 17 Years 2.95% 3.47% 3.56%
18 to 19 Years 1.63% 2.02% 2.01%
20 to 24 Years 4.47% 5.49% 5.25%
25 to 29 Years 6.56% 6.76% 6.39%
30 to 34 Years 8.18% 7.07% 6.49%
35 to 39 Years 6.88% 6.44% 6.21%
40 to 49 Years 13.10% 13.18% 13.56%
50 to 59 Years 15.33% 15.22% 15.16%
60 to 64 Years 6.82% 6.24% 6.33%
65 to 69 Years 5.33% 5.08% 5.09%
70 to 74 Years 3.97% 3.74% 3.84%
75 to 79 Years 3.25% 2.96% 3.11%
80 to 84 Years 2.83% 2.39% 2.47%
Age 85+ 4.39% 3.22% 3.21%
Median Age 43.78 41.57 42.12
POPULATION PROFILE 1 Miles 3 Miles 5 Miles Population 25+ by Education Level
2016 Estimate Population Age 25+ 14,603 95,965 229,857
Elementary (0-8) 3.93% 5.10% 4.37%
Some High School (9-11) 4.78% 6.08% 5.70%
High School Graduate (12) 26.02% 26.91% 24.40%
Some College (13-15) 21.80% 19.69% 18.43%
Associate Degree Only 7.22% 6.61% 6.47%
Bachelors Degree Only 22.86% 21.68% 24.74%
Graduate Degree 12.73% 12.28% 14.45%
16
8
TOD OPPORTUNITY - DOWNTOWN DES PLAINES, IL
DEMOGRAPHICS
17
PRESENTED BY
Rick GordonSenior AssociateDirector, National Land GroupChicago Oak Brook Office630.570.2200 Office630.570.2176 Office Direct630.570.2210 Fax847.778.9090 [email protected] IL 471.014823
.