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. A business owner for office of Inland Real Estate Brokerage, Inc. During his career Labriola has over 15 years, Mr. Cawthon capitalizes on his entrepreneurial skills and won numerous real estate awards for his achievements, both in-office and MEET experience by offering his clients in-depth analysis of real estate products through the Chicago Association of Realtors. Mr Labriola & Paul Cawthon of and financial solutions for their real estate investments. During his extensive the Cawthon-Labriola group of SVN | Chicago Commercial have been ranked THE TEAM real estate career Cawthon has won numerous real estate awards for his in the top 7% of all SVN Advisors internationally in 2016, 2017, & 2018. achievements. Mr. Cawthon and Angelo Labriola of the Cawthon-Labriola Group of SVN | Chicago Commercial have been ranked in the top 7% of all Mr. Labriola has is currently a part of the Chicago Association of Realtors Biography SVN Advisors internationally in 2016, 2017 and 2018. (CAR), the Illinois Association of Realtors (IAR) and the National Association of Realtors (NAR). He earned a B.S. in Finance and a minor in Economics with Paul resides with his family in Burr Ridge and in his spare time likes to spend an emphasis in Real Estate from DePaul University in Chicago, IL. time with his wife, Reda and their two daughters, Sedona and Savanna. Mr. Labriola currently resides in Oak Park, enjoys the game of soccer, and [email protected] spends as much of his spare time as he can with his wife, two children, and 312.676.1878 his dog. [email protected] 312.676.1870
3 UNIT MIXED-USE | CERMAK & DAMEN 1937 W Cermak Road Chicago, IL 60608 SVN | CHICAGO COMMERCIAL 19 32 31 71 93 63 78 83 49 69 43 68 1 2 3 4 81 91 45 30 62 55 59 5 35 6 7 74 8 9 10 25 27 48 47 29 26 28 58 84 51 34 19 75 85 11 21 66 44 67 15 33 13 73 16 89 14 12 18 17 S Wood St 22 87 23 82 38 24 57 94 65 53 92 41 88 37 36 64 54 72 90 86 40 50 46 56 20 39 CLICK HERE FOR FULL RESUME OF ALL 94 DEALS ALL RESUME OF FULL HERE FOR CLICK 52 42 79 GO COMMERCIAL 80 CHICA 70 77 76 CAWTHON LABRIOLA GROUP LIST OF COMPLETED TRANSACTIONS
1) 1040 W 18th Street 36) 2133 W 19th Street 68) 1702 S Morgan Street 2) 1044 W 18th Street 37) 2134 W 18th Street 69) 1702 S Morgan Street (Sold 2x) 3) 1800 S Carpenter Street 38) 1854 W 18th Street 70) 2246 S Whipple Street 4) 1802 S Carpenter Street 39) 2324 W Cullerton Street 71) 2201 S Halsted Street 5) 1726 S Racine Avenue 40) 2214 W 21st Street 72) 1820 S Leavitt Street 6) 1812 S Throop Street 41) 2037 W 19th Street 73) 1719 W 18th Street 7) 1324 W 18th Street 42) 2435 S California Avenue 74) 1327 W 18th Street 8) 1329 W 18th Street 43) 3329 S Morgan Street 75) 1824 S Ashland Avenue (Pending) 9) 1348 W 18th Street 44) 1701 W Cullerton Street 76) 2400 S Troy (Sold 2x) 10) 1401 W 18th Street 45) 1839 S May Street 77) 2400 S Troy (Sold 2x) 11) 1640 W 18th Street 46) 3300 S Bell Avenue 78) 3132-34 S Lituanica Avenue 12) 1744 W 18th Street 47) 1848 S Blue Island Avenue 79) 2303 S Sacramento Blvd 13) 1727 W 18th Street 48) 1437 W Cullerton Street 80) 2353 S Whipple Street 14) 1739 W 18th Street 49) 3132-34 S Lituanica Avenue 81) 1925 S May Street (Pending) 15) 1722 W 21st Street (Sold 2x) 82) 1843 W Cullerton Street 16) 1724 W 21st Street 50) 2223 W 21st Street 83) 818 W 18th Street 17) 1726 W 21st Street 51) 1520 W 18th Place 84) 1501-03 W 17th Street (Pending) 18) 1756 W 21st Place 52) 2721 W 24th Place 85) 1644 W 21st Street 19) 2121 S Ashland Avenue 53) 2018 W 21st Place 86) 2226 W Cermak Road 20) 2315 W 24th Place 54) 2401 S Leavitt Street 87) 1838 W 21st Place 21) 1644 W Cermak Road 55) 1946 S Racine Avenue 88) 2121 W 19th Street 22) 1826 W Cermak Road 56) 2235 W Cullerton Street 89) 1733 W 19th Street 23) 1840 W Cermak Road 57) 1900 W 17th St 90) 2238 W 24th Street 24) 1842 W Cermak Road 58) 1443 W 18th Street 91) 3323 S May Street 25) 1842 S Blue Island Avenue 59) 1850-54 S Racine Avenue 92) 2049 W Coulter Street 26) 1850 S Blue Island Avenue 60) 2431 S Millard Ave (Off Map) 93) 3315 S Halsted Street 27) 1852 S Blue Island Avenue (Sold 2x) 94) 1846 W 18th Street (Pending) 28) 1860 S Blue Island Avenue 61) 2431 S Millard Ave (Off Map) 95) 2000 W 22nd Place (Pending) 29) 1862 S Blue Island Avenue (Sold 2x) 30) 1942 S May Street 62) 2955 S Loomis Street 31) 1824 S Desplaines Street 63) 2143-45 S Halsted Street 32) 2002 S Desplaines Street 64) 2141 W 21st Street 33) 1706 W 17th Street 65) 2001 W 18th Place 34) 1518 W 17th Street 66) 1637 W 18th Street 35) 2001 S Allport Street 67) 1700 W 19th Street