SPRINGFIELD AVE PLAZA 121 Springfield Avenue | Joliet, Illinois
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SPRINGFIELD AVE PLAZA 121 Springfield Avenue | Joliet, Illinois Presented by: OFFERING MEMORANDUM Springfield Ave Plaza 1 121 Springfield Avenue, Joliet, IL 60435 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. Non-Endorsement Notice Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation's logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers. ALL PROPERTY SHOWINGS ARE BY APPOINTMENT ONLY. PLEASE CONSULT YOUR MARCUS & MILLICHAP AGENT FOR MORE DETAILS. 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 3 SPRINGFIELD AVE PLAZA 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, Heartland Blood Centers, 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 ➢ 12.56 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 5 SPRINGFIELD AVE PLAZA REGIONAL MAP 6 SPRINGFIELD AVE PLAZA LOCAL MAP 7 SPRINGFIELD AVE PLAZA AERIAL PHOTO 8 SPRINGFIELD AVE PLAZA TENANT SUMMARY 9 SPRINGFIELD AVE PLAZA 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. 10 SPRINGFIELD AVE PLAZA TENANT SUMMARY General Information General Information Tenant Name Heartland Blood Centers Tenant Name Mike Cemeno Agency Website www.ht.heartlandbc.org Website www.farmers.com Rentable Square Feet 2,095 Rentable Square Feet 1,303 No. of Locations 11 No. of Locations 1 Heartland Blood Centers (HBC) is an independent non-for-profit blood As your local Farmers® agent in Joliet, IL, I help customers like you identify donation center that serves the Northern Illinois Region and Northwest Indiana. the insurance coverage that best fits your needs. This process is Centers are located in Aurora, Bloomingdale, Crystal Lake, DeKalb, Elgin, straightforward and personalized to help make you smarter about insurance. I Geneva, Joliet, Naperville, Bloomingdale, Tinley Park, Westmont, Winfield, and have the knowledge and experience to help you better understand your Yorkville in Illinois, and Highland in Indiana. Donors with scheduled coverage options--whether that's auto, home, renters, life, business insurance appointments and walk-in donors alike are welcome to donate at any of the and more. available facilities, and are also encouraged to give blood at any of Heartland’s I am a lifelong resident of the Joliet area. My family has a deep tradition of mobile blood drives. helping others in our community, in a number of ways. Most notably, through our family's restaurant, Cemeno's Pizza, we have had the unique opportunity Heartland Blood Centers partners with schools, churches, businesses, and to influence thousands of lives. I have also continued this tradition of service community groups to host blood drives 7 days a week. Heartland Blood through my ministry, Fishers of Men Joliet. Centers provides over 172,500 units of blood annually to 12 counties and 50 plus hospitals. It operates under a volunteer donor system and returns 100% of the blood donated to communities served by Heartland. HBC is also a partner of the nationwide resource sharing program which directs blood donations to relief efforts after natural disasters, national emergencies, and demands by the armed forces. As a result of this partnership Heartland Blood Centers is ready to assist all areas of the United States during national blood shortages. 11 SPRINGFIELD AVE PLAZA TENANT SUMMARY General Information General Information Tenant Name The Dwelling Place Tenant Name State Rep Larry Walsh Jr. Website www.thedwellingplacehop.com Website www.ilhousedems.com Rentable Square Feet 900 Rentable Square Feet 1,050 No. of Locations 1 No. of Locations 1 The Dwelling Place is a great place to extend a hearty welcome. God places a Larry Walsh is the Illinois state representative for the 86th district. The 86th tremendous value on each one of us and has gifted us with many unique district includes all or part of the Channahon, Elwood, Joliet, Ingalls Park, talents. Our desire and goal is to enable everyone to use their gifts in various Preston Heights and Rockdale. ministries for the cause of Christ. We teach the uncompromised Word of God with authority and boldness. For we know and teach that it is God’s will for your to prosper in every area of your life, spiritually, emotionally, physically, financially and socially. I guarantee the Word of God works and it can work for you, so we invite you to come visit The Dwelling Place and receive your blessing. 12 SPRINGFIELD AVE PLAZA TENANT SUMMARY FINANCIAL ANALYSIS General Information Tenant Name Bilt Fitness Website www.biltbyagassiandreyes.com Rentable Square Feet 2,100 No. of Locations 1 Since 1989 when Andre Agassi and Gil Reyes collaborated to create a strength system that would elevate Andre to the highest levels of athletic performance, the goal has been to efficiently train for strength the safest possible way. 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.