SPRINGFIELD AVE PLAZA 121 Springfield Avenue | Joliet,

1 NO N - E ND O R S E M E N T A ND D IS C L A IM E R N O T IC E

Confidentiality and Disclaimer The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Marcus & Millichap and should not be made available to any other person or entity without the written consent of Marcus & Millichap. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Marcus & Millichap has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant's plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Marcus & Millichap has not verified, and will not verify, any of the information contained herein, nor has Marcus & Millichap conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. Marcus & Millichap is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2018 Marcus & Millichap. All rights reserved.

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Activity ID: ID Z0370359 SPRINGFIELD AVE PLAZA

TABLE OF CONTENTS

SECTION

INVESTMENT OVERVIEW 04 Property Overview Regional Map Local Map Aerial Photo

FINANCIAL ANALYSIS 05 Tenant Summary TIF District Lease Expiration Chart Operating Statement Pricing Detail Proposal Price

MARKET OVERVIEW 06 Market Analysis

Demographic Analysis

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INVESTMENT OVERVIEW

4 SPRINGFIELD AVE PLAZA SPRINGFIELD AVE PLAZA Marcus & Millichap is pleased to offer this 10,199-square foot strip center located in Joliet, Illinois. This well-maintained asset is 100 percent leased to Blaesing & Associates, Optech Orthotics,, Farmer’s Insurance, The Dwelling Place, State Representative Larry Walsh, Jr., and Bilt Fitness. All of the tenants operate under gross leases.

This strip center is strategically located near other commercial developments, single-family residential homes, and apartment complexes. The property benefits from an outstanding location within a densely populated trade area that has over 83,029 residents within three miles, and an average household income level of $66,799. Additional traffic in the area is enhanced by employees and residents directly across the street at Presence St. Joseph Medical Center. The property is comprised of one parcel totaling 0.67 acres, commercial zoned, with frontage on Springfield Avenue and two points of access. There are new sidewalks around the perimeter, and 41 paved parking spaces that have been recently restriped and sealed. The site is situated two blocks west of Route 7 and half a block north of Jefferson Street in Joliet, Illinois.

INVESTMENT HIGHLIGHTS

➢ Located in Will County – Low County Taxes

➢ Priced At $74.36 PSF With A 15.34% percent Cash-on-Cash Return at List Price

➢ Within a Three-Mile Radius the Average Household Income is $66,799

➢ Surrounding Tenants include: Presence Health Care, Walgreens, Supercuts, Bakers Square, Enterprise, Arby’s and Popeye’s Louisiana Kitchen

➢ Over 83,029 Residents within a Three-Mile Radius

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REGIONAL MAP

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LOCAL MAP

7 SPRINGFIELD AVE PLAZA AERIAL PHOTO

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TENANT SUMMARY

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TENANT SUMMARY

Blaesing Donald J CPA

General Information General Information Tenant Name Donald Blaesing CPA Tenant Name Optech Orthotics

Website NA Website www.optechop.com

Rentable Square Feet 900 Rentable Square Feet 1,851 No. of Locations 1 No. of Locations 4

Blaesing & Associates, CPA is a Illinois Tax Preparer. Mr. Blaesing assists Optech Orthotics & Prosthetics began in 1998 with one simple plan: to provide taxpayers and small businesses with taxes in Joliet, Illinois and surrounding the most advanced custom products and the best patient care. communities. Donald Blaesing has years of valuable experience as an IRS registered tax payer. The services offered are tax preparation, tax planning, Since then, Optech O&P has grown throughout Chicago's southwest suburbs with bookkeeping, estate and trust taxes and more. locations in Kankakee, Joliet, Orland Park, Morris, Watseka and Evergreen Park. Optech O&P practitioners have the skill, knowledge and compassion to work with patients of all ages and backgrounds. From diabetic shoes inserts to a full line of orthoses to custom prostheses, we'll work with you to find the right product and the right fit so you can use technology to advance your lifestyle.

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TENANT SUMMARY

General Information General Information

Tenant Name The Dwelling Place Tenant Name Mike Cemeno Agency

Website www.thedwellingplacehop.com Website www.farmers.com

Rentable Square Feet 900 Rentable Square Feet 1,303

No. of Locations 1 No. of Locations 1

The Dwelling Place is a great place to extend a hearty welcome. God places a As your local Farmers® agent in Joliet, IL, I help customers like you identify tremendous value on each one of us and has gifted us with many unique the insurance coverage that best fits your needs. This process is talents. Our desire and goal is to enable everyone to use their gifts in various straightforward and personalized to help make you smarter about insurance. I ministries for the cause of Christ. have the knowledge and experience to help you better understand your coverage options--whether that's auto, home, renters, life, business insurance We teach the uncompromised Word of God with authority and boldness. For and more. we know and teach that it is God’s will for your to prosper in every area of your I am a lifelong resident of the Joliet area. My family has a deep tradition of life, spiritually, emotionally, physically, financially and socially. I guarantee the helping others in our community, in a number of ways. Most notably, through Word of God works and it can work for you, so we invite you to come visit The our family's restaurant, Cemeno's Pizza, we have had the unique opportunity Dwelling Place and receive your blessing. to influence thousands of lives. I have also continued this tradition of service through my ministry, Fishers of Men Joliet.

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TENANT SUMMARY

General Information General Information

Tenant Name Bilt Fitness Tenant Name State Rep Larry Walsh Jr.

Website www.biltbyagassiandreyes.com Website www.ilhousedems.com

Rentable Square Feet 2,100 Rentable Square Feet 1,050

No. of Locations 1 No. of Locations 1

Since 1989 when Andre Agassi and Gil Reyes collaborated to create a strength Larry Walsh is the Illinois state representative for the 86th district. The 86th system that would elevate Andre to the highest levels of athletic performance, the district includes all or part of the Channahon, Elwood, Joliet, Ingalls Park, goal has been to efficiently train for strength the safest possible way. Preston Heights and Rockdale.

That philosophy has driven the innovations behind BILT by Agassi and Reyes equipment. From the spring-enhanced weight-stack IntelliLift™ system, to the FIBO Innovation award winning Change of Direction (C.O.D.) machine, BILT by Agassi and Reyes innovations enable athletes to safely train for speed, quickness and power.

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TIF DISTRICT

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Tax Increment Finance (TIF) District Proposal Fact Sheet TIF District

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Tax Increment Finance (TIF) District Proposal Fact Sheet TIF District

What is Tax Increment Financing? Tax Increment Financing (also known as TIF) is an economic development 3. Foster the replacement, repair, construction and /or improvement of public infrastructure where tool local government may utilize for revitalization and stabilization of areas in need of enhancement. This needed, including public utilities, public park and recreational facilities, sidewalks, streets, curbs, occurs both new development, and redevelopment of properties that need to be rehabbed to meet current gutters, underground water and sanitary systems, and storm water detention of adequate capacity to standards. TIF is most typically utilized to enhance commercial, industrial properties and business properties. create an environment conducive to private investment; and

How Does TIF Work? When new development or redevelopment occurs within a TIF District, property values 3. Provide resources for streetscaping, landscaping and signage to improve the image, attractiveness and subsequently increase. This generates new property taxes revenues within the district. Through TIF, cities accessibility of the RPA, create a cohesive identity for the RPA and surrounding area, and provide, may use this new revenue for specific purposes to encouraging additional development. where appropriate for buffering between different land uses and screening of unattractive service Will the proposed TIF District increase Taxes? No. TIF District designation does not result in tax increase to facilities such as parking lots and loading areas. property owners. New taxes generated from development, rehabilitation of properties and increasing value are the source of TIF revenues. How does this affect me if my property is within the proposed TIF District? As specific TIF related programs are developed by the City, Property owners within the TIF District would be eligible for incentives aimed to Why is the City proposing a TIF District at this time? The City has concerns regarding the lack of encourage development or redevelopment. In addition, public infrastructure and physical improvements redevelopment in the medical center area, and the presence of nearby commercial properties that do not would provide an improved business development. meet minimum codes standards. Through development of a TIF District, the City would possess an economic tool that could spark reinvestment in this area. Presence-Saint Joseph Medical Center is a well-respected What type of Costs are eligible for TIF funding? State Statues allow TIF Funds to be utilized for a variety of institution in the region and serves as an anchor to this immediate neighborhood. The City feels TIF would purposes promoting revitalization within the district. Typical TIF expenses are identified below: encourage new business activity. 1. Costs of studies, surveys, architectural, engineering, legal, financial and planning fees. 2. The Costs of marketing sites to prospective businesses, developers and investors. What Benefits result from a TIF? TIF’s help local governments attract private development and new 3. Property assembly costs, acquisition of land, demolition of buildings, site preparation and site businesses. New businesses mean more jobs, more customers, and more private investment. TIF designation improvements. also helps retain existing businesses that might otherwise find more attractive options elsewhere. 4. Costs of rehabilitation, reconstruction, or repair or remodeling of existing public or private buildings, Without TIF benefits, a deteriorating area will not improve. Businesses do not sink capital into decaying areas fixtures and leasehold improvements. and most local governments cannot afford the needed costly improvements without raising taxes. But in a 5. Cost of the construction of public works improvements TIF District, funding for improvements are generated by the businesses created with the assistance of TIF 6. Costs of job training and retaining projects benefits. 7. Financing costs, including bond expenses 8. Relocation costs Does Joliet have an existing TIF District? The City presently has two TIF Districts. A downtown district was created in 2001. A subsequent TIF District was created on East Cass Street in 2011. What opportunities exist for public input? The creation of a TIF District requires extensive public notice and What Benefits have occurred within those TIF Districts? Both TIF Districts remain active, and as of this date, a public hearing prior to adoption. A public hearing to discuss this matter has been scheduled for 6:30 p.m. on total of eight redevelopment agreements have been implemented, with several other being discussed. Tuesday, January 3 at City Hall, 150 West Jefferson Street, Joliet, IL. Millions of dollars of private investment has occurred due to the availability of TIF incentive programs. This has created job, additional taxing value and new retail opportunities in Joliet. In addition, residents and organizations may seek to receive periodic information regarding TIF Districts by seeking placement on an “ interested party registry”. Applications for this registry may be obtained on the City website, or request from the Office of City Clerk. What is the City’s plan with the Presence-Saint Joseph Medical Center Area TIF? The detailed report (Eligibility Study & Redevelopment Plan/Project) is available on the City website providing a detailed outline What if I require additional information? For further information regarding the TIF District proposal, contact of the plan. In summary, four objectives support the overall goal of area-wide revitalization of the Presence- Steve Jones, Deputy City Manager/Economic Development Director at (815) 724-3734 or via Saint Joseph RPA. These objectives include; [email protected]. 1. Facilitate the physical improvement and/or rehabilitation of existing structures and facades within the RPA, and encourage the construction of new private development, where appropriate; 2. Facilitate and encourage development of vacant and underutilized property within the RPA, including assembly, site preparation, and environmental clean-up where necessary, and marketing of available sites, as allowed by the Act. The City may use the TIF funds to encourage new private sector development by reimbursing developers for eligible construction costs, such as, but not limited to public improvements, demolition, environmental remediation and site preparation;

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FINANCIAL ANALYSIS

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FINANCIAL ANALYSIS TENANT SUMMARY

% Bldg. Lease Lease Annual Rent Total Rent Total Rent Per Changes Changes Lease Expense Renewal Options and Option Tenant Name Suite Sq. Ft. Share Comm. Expiration per Sq. Ft Per Month Year on to Type Reimbursements Year Rental Information

Donald Blaesing CPA 1 900 8.8% 1/1/03 7/31/21 $14.67 $1,100 $13,200 N/A N/A Gross $0 First Right of Refusal

Optech Orthotics 2 & 3 1,851 18.1% 9/24/18 9/30/21 $12.97 $2,000 $24,000 N/A N/A Gross $0 First Right of Refusal

David Rotter 4 & 5 2,095 20.5% 10/1/18 9/30/21 $11.46 $2,000 $24,000 N/A N/A Gross $0 First Right of Refusal

Mike Cemeno Agency 6 1,303 12.8% 12/1/17 11/30/20 $12.21 $1,326 $15,912 N/A N/A Gross $0 First Right of Refusal

The Dwelling Place 7 900 8.8% 11/1/17 10/31/19 $5.33 $400 $4,800 N/A N/A Gross $0 First Right of Refusal

State Rep Larry Walsh 8 1,050 10.3% 4/1/17 1/31/21 $11.43 $1,000 $12,000 N/A N/A Gross $0 First Right of Refusal Jr.

Bilt Fitness 9 & 10 2,100 20.6% 12/1/17 7/31/20 $11.43 $2,000 $24,000 N/A N/A Gross $0 First Right of Refusal

Total 10,199 $11.56 $9,826 $117,912 $0

Occupied Occupied Unoccupied Unoccupied GLA: Tenants: 6 Tenants: 0 GLA: 0.00% 100.00%

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FINANCIAL ANALYSIS TENANT SUMMARY

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FINANCIAL ANALYSIS OPERATING STATEMENT

Income Current Year 1 Per SF

Scheduled Base Rental Income 117,912 117,912 11.56 Expense Reimbursement Income Total Reimbursement Income $0 0.0% $0 0.0% $0.00

Effective Gross Revenue $117,912 $117,912 $11.56

Operating Expenses Current Year 1 Per SF

Common Area Maintenance (CAM) Utilities 891 891 0.09 Repairs & Maintenance 4,619 4,619 0.45 Landscaping 585 585 0.06 Snow Removal 1,677 1,677 0.16 Broker Imposed Expense 4,976 4,976 0.49 Insurance 2,622 2,622 0.26 Real Estate Taxes 21,854 21,854 2.14 Management Fee 4,716 4.0% 4,716 4.0% 0.46 Total Expenses $41,940 $41,940 $4.11 Expenses as % of EGR 35.6% 35.6% Net Operating Income $75,972 $75,972 $7.45

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PRICING DETAIL FINANCIAL ANALYSIS

Summary Operating Data Price $758,300 Income Year 1 Down Payment $265,405 35% Scheduled Base Rental Income $117,912 Number of Suites 7 Total Reimbursement Income 0.0% $0 0.0% Price Per SqFt $74.36 Other Income $0 Gross Leasable Area (GLA) 10,198 SF Potential Gross Revenue $117,912 Lot Size 0.67 Acres General Vacancy $0 Year Built/Renovated 1975 Effective Gross Revenue $117,912 Less: Operating Expenses 35.6% ($41,940) 35.6% Occupancy 100.00% Net Operating Income $75,972 Tenant Improvements $0 Leasing Commissions $0 Returns Year 1 Capital Expenditures $0 CAP Rate 10.02% Cash Flow $75,972 Cash-on-Cash 15.34% Debt Service ($35,270) Net Cash Flow After Debt Debt Coverage Ratio 2.15 15.34% $40,702 15.34% Service Principal Reduction $9,872 Total Return 19.06% $50,574 19.25% Financing 1st Loan Loan Amount $492,895 Operating Expenses Year 1 Loan Type New CAM $12,748 Interest Rate 5.20% Insurance $2,622 Amortization 25 Years Real Estate Taxes $21,854 Management Fee $4,716 Year Due 2023 Other Expenses - Non Reimbursable $0 Total Expenses $41,940 Expenses/SF $4.11

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MARKET OVERVIEW

21 JOLIET, ILLINOIS

ABOUT JOLIET, ILLINOIS

Joliet, Illinois is a city in Kendall and Will Counties in the U.S. State of Illinois, 40 miles southwest of Chicago. It is the county seat of Will County. At the 2010 census, the city was the fourth largest in Illinois, with a population of 147,433. The City of Joliet is the 3rd largest city in Illinois with a population of 150,572 as of July 1, 2017. Joliet is currently the fastest-growing city in the Midwest and the 12th-fastest-growing city in the among cities larger than 100,000 people.

The main attractions in Joliet’s City Center are the Harrah’s Casino, (Silver Cross Field), Hollywood Casino (formerly, Argosy Empress Casino) and the Rialto Square Theatre, the ‘Jewel of Joliet’, which has been called one of the world’s 10 most beautiful theatres.

The Joliet area is replete with a wide range of arts and cultural venues as well as many parks and recreational facilities. The Joliet Historical Museum chronicles the experiences of the people who settled the Joliet area and includes TheRoute 66 Welcome Center.

Joliet is home to a professional minor league baseball team. The Joliet Jackhammers area an independent team competing in the Northern League. The Jackhammer home stadium is Silver Cross Field, a 4,200-seat facility featuring luxury suites, a souvenir shop, a picnic area and a playground located inside of the stadium.

Located just 40 miles southwest of downtown Chicago, Joliet enjoys outstanding access to the Chicago Metropolitan Statistical area and is regarded as a significant transportation hub in the Midwest. Chicago’s international airports are easily accessible from Joliet. O’Hare International Airport, the third busiest airport by passenger traffic in the world, is 45 miles from Joliet and Chicago’s Midway International Airport is less than 40 miles.

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MARKET OVERVIEW CHICAGO OVERVIEW

Chicago-Naperville-Elgin is one of the largest metros in the nation. Also know as the greater Chicagoland area, it is bounded to the east by Lake Michigan, expands over a 5,000-square-mile region in northeastern Illinois and extends into Wisconsin and Indiana. The metro houses 9.6 million people and comprises 14 counties. The city of Chicago contains 2.7 million residents. The greatest growth during the past 20 years occurred in the western portion of the region. In recent years, however, businesses are relocating back into the city to attract young workers, supporting the development of high-rise residential towers in the downtown Chicago.

METRO HIGHLIGHTS

THIRD-LARGEST METROPOLITAN AREA The metro population trails only New York City and Los Angeles in size. It will expand to nearly 9.9 million residents by 2023.

WEALTH OF INTELLECTUAL CAPITAL The number of corporate headquarters in Chicago is second only to New York City. There are 33 Fortune 500 companies based locally.

LARGE, DIVERSE EMPLOYMENT BASE The Chicago metro employs more than 4.7 million individuals in an array of industries, including a growing tech sector.

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MARKETINGDEMOGRAPHICS TEAM Created on June 2018

POPULATION 1 Miles 3 Miles 5 Miles HOUSEHOLDS BY EXPENDITURE 1 Miles 3 Miles 5 Miles Total Average Household Retail ▪ 2022 Projection $60,478 $62,809 $68,691 Expenditure Total Population 11,759 85,444 188,517 ▪ Consumer Expenditure Top 10 ▪ 2017 Estimate Categories Total Population 11,603 83,029 175,183 Housing $16,671 $17,411 $18,854 ▪ 2010 Census Transportation $10,803 $11,238 $12,223 Total Population 11,390 81,930 172,018 Shelter $10,278 $10,820 $11,704 ▪ 2000 Census Food $6,147 $6,469 $6,993 Total Population 11,419 71,953 139,216 Health Care $4,595 $4,398 $4,714 ▪ Current Daytime Population Personal Insurance and Pensions $4,548 $5,157 $5,900 2017 Estimate 25,504 103,744 173,598 Utilities $3,195 $3,285 $3,500 HOUSEHOLDS 1 Miles 3 Miles 5 Miles Entertainment $2,412 $2,561 $2,778 Household Furnishings and $1,645 $1,665 $1,829 ▪ 2022 Projection Equipment Total Households 4,873 32,769 65,632 Apparel $1,459 $1,610 $1,810 ▪ 2017 Estimate POPULATION PROFILE 1 Miles 3 Miles 5 Miles Total Households 4,774 31,412 60,165 ▪ Population By Age Average (Mean) Household Size 2.33 2.57 2.81 2017 Estimate Total Population 11,603 83,029 175,183 ▪ 2010 Census Under 20 21.54% 26.83% 27.78% Total Households 4,704 31,062 59,201 20 to 34 Years 19.65% 22.60% 21.67% ▪ 2000 Census 35 to 39 Years 5.27% 6.50% 7.05% Total Households 4,905 28,036 48,072 40 to 49 Years 10.82% 12.33% 13.47% ▪ Occupied Units 50 to 64 Years 20.76% 17.62% 17.25% 2022 Projection 4,873 32,769 65,632 Age 65+ 21.94% 14.12% 12.79% 2017 Estimate 4,981 33,387 63,729 Median Age 43.53 35.41 35.38 HOUSEHOLDS BY INCOME 1 Miles 3 Miles 5 Miles ▪ Population 25+ by Education Level ▪ 2017 Estimate 2017 Estimate Population Age 25+ 8,404 54,429 113,650 $150,000 or More 6.08% 4.83% 7.06% Elementary (0-8) 4.22% 5.09% 6.27% $100,000 - $149,000 14.21% 14.29% 16.89% Some High School (9-11) 5.95% 7.51% 8.35% $75,000 - $99,999 11.37% 13.17% 13.87% High School Graduate (12) 34.80% 34.52% 33.01% $50,000 - $74,999 18.65% 19.79% 19.36% Some College (13-15) 23.79% 24.35% 23.25% $35,000 - $49,999 13.80% 14.75% 13.50% Associate Degree Only 8.72% 7.38% 7.40% Under $35,000 35.90% 33.17% 29.33% Bachelors Degree Only 12.94% 12.81% 13.59% Average Household Income $69,957 $66,799 $73,855 Graduate Degree 9.08% 7.20% 6.90% Median Household Income $50,299 $52,282 $58,577 Per Capita Income $29,481 $25,639 $25,858

Source: © 2017 Experian

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MARKETINGDEMOGRAPHICS TEAM

Population In 2017, the population in your selected geography is 11,603. The Housing population has changed by 1.61% since 2000. It is estimated that the population in your area will be 11,759.00 five years from now, which The median housing value in your area was $164,038 in 2017, represents a change of 1.34% from the current year. The current compare this to the US average of $193,953. In 2000, there were population is 46.55% male and 53.45% female. The median age of the 3,101 owner occupied housing units in your area and there were 1,804 population in your area is 43.53, compare this to the US average renter occupied housing units in your area. The median rent at the which is 37.83. The population density in your area is 3,686.56 people time was $525. per square mile.

Households Employment There are currently 4,774 households in your selected geography. The In 2017, there are 9,476 employees in your selected area, this is also number of households has changed by -2.67% since 2000. It is known as the daytime population. The 2000 Census revealed that estimated that the number of households in your area will be 4,873 59.11% of employees are employed in white-collar occupations in this five years from now, which represents a change of 2.07% from the geography, and 41.58% are employed in blue-collar occupations. In current year. The average household size in your area is 2.33 2017, unemployment in this area is 7.43%. In 2000, the average time persons. traveled to work was 26.00 minutes.

Income In 2017, the median household income for your selected geography is $50,299, compare this to the US average which is currently $56,286. The median household income for your area has changed by 16.82% since 2000. It is estimated that the median household income in your area will be $57,425 five years from now, which represents a change of 14.17% from the current year.

The current year per capita income in your area is $29,481, compare this to the US average, which is $30,982. The current year average household income in your area is $69,957, compare this to the US average which is $81,217.

Source: © 2017 Experian

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8 DEMOGRAPHICS

26 PRESENTED BY

Brian Parmacek Luke Kingsbury First Vice President Investments Associate Director - National Retail Group Chicago Downtown Office Chicago Downtown Office Tel: (312) 327-5400 Tel: (312) 624-7010 Fax: (312) 327-5410 Fax: (312) 327-5410 [email protected] [email protected] License: IL 475178755 License: IL 475.132220 27