1937 W Cermak Road
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OFFERING MEMORANDUM 1937 W CERMAK ROAD 3 UNIT MIXED-USE | CERMAK & DAMEN Chicago, IL 60608 PRESENTED BY: PAUL CAWTHON Vice President O: 312.676.1878 [email protected] ANGELO LABRIOLA Vice President O: 312.676.1870 [email protected] TABLE OF CONTENTS 4 PROPERTY INFORMATION Property Summary 5 Property Description 6 Property Details 7 Complete Highlights 8 Retail Photos 9 Aerial Photo 10 11 LOCATION INFORMATION Location Maps 12 Aerial Maps 13 14 RENT ROLL Rent Roll 15 16 DEMOGRAPHICS Demographics Map & Report 17 18 ADVISOR BIOS SVN Real Estate Team 19 Cawthon-Labriola Group Pilsen Area 20 Resume The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully xe ecuted and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk. 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 3 SECTION 1 PROPERTY INFORMATION OFFERING SUMMARY PROPERTY OVERVIEW SALE PRICE: $250,000 3-unit mixed-use property featuring a brick retail/office building on Cermak Road and a frame Coach House with 2 units in the rear. The Coach House has a newer roof (2 years) and gutters and the roof of the front building has 2 layers and was BUILDING SIZE: 2,800 SF done within the past 5 years. PRICE / SF: $89.29 The front building is currently vacant and is ready for occupancy and features a full basement. The rear building has MTM tenants and can be vacated with a 30-day notice if needed for renovation. Perfect for an owner-user looking for retail/ NOI: $23,700 office while the rear tenants pay the mortgage! YEAR BUILT: 1936 PROPERTY HIGHLIGHTS ZONING: B3-2 • Steps to Damen Avenue CTA Pink Line MARKET: Chicago • Close Proximity to Shopping, Grocery, Restaurants & Schools SUBMARKET: Pilsen • Value-Add Opportunity • Excellent Street Exposure APN: 17-30-200-009-0000 • Full Basement | Front Building 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 5 PROPERTY DESCRIPTION 3-unit mixed-use property featuring a brick retail/office building on Cermak Road and a frame Coach House with 2 units in the rear. The Coach House has a newer roof (3 years) and gutters and the front buildings roof has 2 layers and was done within the past 5 years. The front building is currently vacant and is ready for occupancy and features a full basement. The rear building has MTM tenants and can be vacated with a 30 day notice if needed for renovation. Perfect for an owner user looking for retail/office while the rear tenants pay the mortgage! LOCATION DESCRIPTION Located in Chicago's Pilsen neighborhood, just east of the Damen on Cermak Road. The lighted intersection of Cermak Road & Damen Avenue and is just a block to the CTA Pink Line Station at Damen Avenue. Cermak is a major retail corridor and the subject property is adjacent to Walgreens. Other are co-tenants include, Aldi, Cermak Produce, Pete's Fresh Market, Walmart, and Planet Fitness. Pilsen was recently named one of the 2 coolest neighborhoods in North America and one of the 12 coolest in the World!! 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 6 BUILDING INFORMATION SALE PRICE $250,000 TENANCY Multiple LOCATION INFORMATION YEAR BUILT 1936 BUILDING NAME 3 Unit Mixed-Use FREE STANDING Yes STREET ADDRESS 1937 W Cermak Road UNITS 3 CITY, STATE, ZIP Chicago, IL 60608 BASEMENT Yes | Front Building COUNTY Cook MARKET Chicago SUB-MARKET Pilsen PROPERTY INFORMATION PROPERTY SUBTYPE Low-Rise/Garden APN # 17-30-200-009-0000 TAXES (2019) $11,282.65 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 7 LOCATION INFORMATION 3 Unit Mixed-Use | Cermak & BUILDING NAME Damen STREET ADDRESS 1937 W Cermak Road CITY, STATE, ZIP Chicago, IL 60608 COUNTY Cook MARKET Chicago SUB-MARKET Pilsen | Heart of Chicago BUILDING INFORMATION NOI $23,700.00 TENANCY Multiple YEAR BUILT 1936 FREE STANDING No PROPERTY HIGHLIGHTS • Steps to Damen Avenue CTA Pink Line • Close Proximity to Shopping, Grocery, Restaurants & Schools • Value-Add Opportunity • Excellent Street Exposure • Full Basement in Retail Building 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 8 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 9 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 10 SECTION 2 LOCATION INFORMATION 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 12 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 13 SECTION 3 RENT ROLL UNIT UNIT UNIT CURRENT CURRENT NUMBER BED BATH RENT RENT (PER SF) Retail - Vacant 1R 2 1 $600 $0.60 2R 2 1 $375 $0.38 TOTALS/AVERAGES $975 $0.35 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 15 SECTION 4 DEMOGRAPHICS POPULATION 1 MILE 3 MILES 5 MILES TOTAL POPULATION 34,912 348,818 1,009,236 AVERAGE AGE 29.2 30.4 30.8 AVERAGE AGE (MALE) 29.1 29.9 30.1 AVERAGE AGE (FEMALE) 29.3 31.5 31.6 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES TOTAL HOUSEHOLDS 11,160 115,237 373,681 # OF PERSONS PER HH 3.1 3.0 2.7 AVERAGE HH INCOME $39,768 $56,930 $73,702 AVERAGE HOUSE VALUE $292,314 $314,075 $387,803 * Demographic data derived from 2010 US Census 3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 17 SECTION 5 ADVISOR BIOS Paul Cawthon Angelo Labriola Vice President Vice President Paul Cawthon serves as a Vice President for SVN | Chicago Commercial. He Angelo Labriola serves as a Vice President for SVN | Chicago Commercial, specializes in multi-family, sale and leasing of retail, as well as commercial specializing in the sale of multi-family, mixed-use, development land, retail development property. The Cawthon- Labriola team are specialists in the and industrial property. The Cawthon-Labriola team are specialists in the Pilsen neighborhood, with 90+ transactions completed in the neighborhood. Pilsen neighborhood, with 90+ transactions completed in the neighborhood. Prior to joining SVN he served as a senior commercial associate with the Prior to joining SVN he served as a commercial associate with the Chicago Chicago office of Inland Real Estate Brokerage, Inc.