Eggsperience Restaurant | Infill Location
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EGGSPERIENCE RESTAURANT | INFILL LOCATION 4925 West Irving Park Road, Chicago, Illinois 60641 Downtown Chicago Parking Easement PROPOSED SHOPS AT SIX CORNERS Shopping Center to Include Amazon Fresh Grocery, Panera Bread, Burlington and orners 36-Unit Apartment Building oint at Six C UNDER CONSTRUCTION Subject Property The 10-Story,P $117 Million Mixed-Use Development ALDI andLiving 258-Unit Community Senior W IRVING PARK RD | 28,455 VPD orners Six C otal VPD Intersection 72,985 T W IRVING PARK RD | 28,455 VPD Subject Property Parking Easement 10yr INVESTMENT HIGHLIGHTS 10-Year • Internet-Resistant Tenant with New 10-Year Double-Net Lease Lease ° Eggsperience Opened in March 2021 ° One-of-Nine Locations • Attractive Lease Term ° Double-Net Lease ° Two Percent Annual Increases During Option Periods ° Minimal Landlord Responsibilities Internet Resistant • Rare Parking Easement Directly Behind Building Allows for 175-Parking Spaces • Attractive Real Estate Fundamentals ° Adjacent to Binny’s Beverage Depot and Retro Fitness Heavily ° Heavy Foot Traffic | 95 Walk Score, a “Walker’s Paradise” (walkscore.com) Traveled • Situated on Heavily-Traveled Irving Park Road, One Block West from the Six Corners Intersection | 72,985 Total Vehicles Passing per Day ° Several Redevelopments Underway at the Six Corners Intersection > Under Construction | The Point at Six Corners | 10-Story, $117 Million Mixed-Use Development | Includes ALDI Grocer and Clarendale Six Corners Senior Living Community (258 Residential Units) Highly > Proposed Shops at Six Corners | 10 to 14 Tenant Shopping Center to Include Amazon Fresh Populated Grocery Store, Panera Bread with Drive-Thru, Burlington and 36-Unit Apartment Building • Notable Major Retailers in the Area Walgreens, Marshalls, Dollar General, Jewel-Osco, PetSmart, DollarTree, Pep Boys, Famous Footware, Verizon, and Many More • Strong Infill Location | Over 12,300 People Living Within a Half Mile of Subject Property with an Average Household Income of $86,571 Abundance of Retailers Eggsperience Restaurant | Infill Location 4925 West Irving Park Road, Chicago, Illinois 60641 FINANCIAL SUMMARY LEASE SUMMARY Price $2,353,000 Lease Type NN Cap Rate 7.65% Personal Lease Guarantor (Two Year Guarantee) NOI (Starting 3/10/2022)* $180,000 Roof & Structure Landlord Price/SF $470.60 Lease Term Remaining 10 Years Gross Leasable Area 5,000 SF Rent Commencement 7/10/2021 Year Built | Renovated 1954 | 2020 Lease Expiration 7/9/2031 Lot Size 0.14 Acres +/- Options 2, 5-Year Parcel Numbers 13-21-202-012 Option to Terminate None 13-21-202-013 Option to Purchase None Type of Ownership Fee Simple Parking 175+/- per Cross Easement Agreement *Seller will credit buyer difference between rent at closing and rent increase starting 3/10/2022. RENT SCHEDULE Term Period Annual Rent Rent/SF Base Current $125,000 $25.00 3/10/2022 $180,000 $36.00 3/10/2024 $191,000 $38.20 3/10/2025 $194,800 $38.96 3/10/2026 $198,700 $39.74 Notes: Tenant opened 3/10/2021. Rent commences 7/10/2021. Option period rent increases two percent annually. TENANT PROFILE Sunny Family Restaurant with the Selection to Please Any Appetite Serving Breakfast, Lunch and Dinner All Egg Dishes are Made with Free Range, USDA Organic, Non-GMO Fresh Eggs from Local Farmers Offering Freshly Squeezed Juices, Family Packs and Catering Online Ordering Available Rewards Program Available to Frequent Customers Six Locations Throughout Chicago and Surrounding Suburbs Tenant: Eggsperience on Irving, Limited Liability Company Guarantor: Personal (Two Year Guarantee) LEASE SUMMARY DBA Eggsperience TENANT Eggsperience On Irving, LLC Personal GUARANTOR (Two Year Guarantee) ROOF Landlord STRUCTURE Landlord Landlord Responsible for PARKING LOT Repairs. Included in Tenant CAM Reimbursement HVAC Tenant UTILITIES Tenant - Paid Directly by Tenant TAXES Tenant - Paid as Additional Rent INSURANCE Tenant - Paid as Additional Rent CAM Tenant - Paid as Additional Rent OPTION TO TERMINATE None LOCATION HIGHLIGHTS | CHICAGO MSA • Third Largest Metropolitan Area in the United States • Major Transportation Network ° Population of Over 10 Million People ° Chicago Transit Authority Rail and Bus Services ° Expands Over 5,000 Square Feet in 14 Counties ° Pace Bus Services ° Almost 40 Percent of Illinois Residents Live in the Suburbs ° Metra and Amtrak Rail of Chicago, Many of Whom Commute into the City for Work ° Divvy Bikes • Logistics and Business Hub • Major Tourist Destination | 58 Million Visitors Annually ° Vital Link in Supply Chain as 42 Percent of the Population ° Tourist Attractions Include Willis Tower, Millennium Park, Lives Within 750 Miles of Chicago Navy Pier, Art Institute of Chicago, Museum of Science and ° Three International Airports (Chicago O’Hare Airport, Industry, Adler Planetarium, Wrigley Field, Buckingham Midway Airport and Gary/Chicago Airport) | 16 Regional Fountain, Michigan Avenue and the Magnificent Mile Airports ° Seven Professional Sports Teams ° Nation’s Premier Freight Rail Hub, with Four Carriers | BNSF, Union Pacific, CSX, and Norfolk Southern • World-Class Education Institutions | Over 104,000 Students ° Home to Over 400 Major Corporate Headquarters, Including ° Universities Include University of Chicago, DePaul 31 Fortune 500 Companies Reside in Chicago | Over University, Northwestern University, Loyola University, 100,000 Jobs Created Since Pre-Recession Peak University of Illinois at Chicago 400 MAJOR 3RD 58 MILLION 104,000+ HEADQUARTERS LARGEST MSA VISITORS STUDENTS LOCATION HIGHLIGHTS | PORTAGE PARK, CHICAGO • 10 Miles Northwest of Downtown Chicago • Plentiful Transportation | Two CTA Blue Line Stations, Network of CTA Buses and Blocks to Interstate 90 • Named One of Chicago’s Best Neighborhoods by Chicago Magazine • Largest Polish Community in the Chicago Metropolitan Area | Home to the Polish American Association, the Polish • Home to Notable Six-Corners Intersection | 72,985 Vehicles Jesuit Millennium Center, and the Polish Army Veterans Passing per Day Association SIX-CORNER REDEVELOPMENTS UNDER CONSTRUCTION PROPOSED The Point at Six Corners Shops at Six Corners 10-Story, $117 Million Mixed-Use Development 10 to 14 Tenant Center to Include Amazon Fresh Grocery Includes ALDI Grocer and Clarendale Six Corners Senior Living Store, Panera Bread with Drive-Thru, Burlington and 36-Unit Community (258 Residential Units) Apartment Building REGIONAL MAP Lake Michigan DEMOGRAPHICS Subject Property Population .5-Mile 1-Mile 2-Miles 2020 Population 12,310 44,752 213,170 2025 Population 12,185 44,128 210,921 Households .5-Mile 1-Mile 2-Miles 2020 Households 4,495 16,169 72,602 2025 Households 4,454 15,970 72,076 Daytime Population .5-Mile 1-Mile 2-Miles 2020 Population 7,815 31,215 141,808 Income .5-Mile 1-Mile 2-Miles 2020 Median HH Income $68,016 $67,360 $62,906 2020 Average HH Income $86,571 $90,744 $83,923 AERIAL N Cicero Ave 28,330 VPD N Milwaukee Ave 16,200 VPD Six Corners Intersection 72,985 Total VPD W Irving Park Rd 28,455 VPD Subject Property Parking Easement PROPOSED UNDER CONSTRUCTION Shops at Six Corners The Point at Six Corners CONFIDENTIALITY AGREEMENT 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. 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