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333 E. Touhy Avenue Des Plaines // Illinois

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333 E. Touhy Avenue Des Plaines // Illinois 211,740 SF ON 12.68 ACRES O’HARE SUBMARKET OFFERING MEMORANDUM 333 E. TOUHY AVENUE DES PLAINES // ILLINOIS PREPARED BY: Jonathan Kohn David Bercu, SIOR PRINCIPAL PRINCIPAL +1 847 698 8279 +1 847 698 8207 [email protected] [email protected] Table of Contents > EXECUTIVE SUMMARY Tenant Overview ...............................................................................................................................................................3 Capital Markets Overview.................................................................................................................................................4 Investment Highlights ...................................................................................................................................................... 6 Terms of Sale.. ..................................................................................................................................................................7 > PROPERTY ASSESSMENT Building Specs ................................................................................................................................................................. 8 Site Plan ............................................................................................................................................................................9 Property Survey ..............................................................................................................................................................10 Location Overview ...........................................................................................................................................................11 Aerial ...............................................................................................................................................................................12 Location Aerials ..............................................................................................................................................................13 Location Map ...................................................................................................................................................................14 Access Routes .................................................................................................................................................................15 Highway Infrastructure ...................................................................................................................................................16 > FINANCIAL OVERVIEW Pricing & Financial Summary ........................................................................................................................................ 17 Lease Summary............. .................................................................................................................................................18 Rent Schedule........... ......................................................................................................................................................19 > EXHIBITS Chicago Industrial Market Overview ............................................................................................................................. 22 O’Hare Submarket Overview......................................................................................................................................... 26 EXECUTIVE SUMMARY PROPERTY OVERVIEW The 333 E. Touhy Avenue facility in Des Plaines is located on the northern border of O’Hare International Airport in a highly accessible pocket of one of the largest concentrations of industrial buildings in the United States. This 211,740 SF facility is a unique corporate headquarters facility that is centrally located, with high end office, heavy power, and very good curb appeal. The immediate area is densely developed with over 140 million SF of industrial buildings that service the 8.5 million people in the area as well as the population of the surrounding Midwestern states. The Property is located in the city of Des Plaines and is located within two minutes of O’Hare International Airport northern cargo entrance. In this quintessential infill marketplace, 200,000+ square foot functional buildings and 10+ acre developable land sites are rarely available. BUILDING SIZE LEASE EXP. PSF RENT ANNUAL ESC. 333 E. TOUHY 211,740 SF 9/30/2025 $4.50 2.070% PROPERTY AND AREA HIGHLIGHTS » 211,000 square foot, well maintained warehouse/manufacturing facility » The last speculative development project in Des Plaines was pre-leased to CH Robinson. » The Property provides a rare 12+ acre site for redevelopment or adaptive re-use. » The project presents a unique investment opportunity that is rarely available in the » The Property is located in the O’Hare submarket of Chicago. Chicago is the second O’Hare submarket. largest warehouse and distribution market in the country with O’Hare at the center. The O’Hare submarket currently has vacancy rates around 3% for the first time ever. The » Covered land play. vacancy rate has fallen nearly 4% since 2014. » Infrastructure improvements from the Illinois Tollway’s western bypass project will » The property is located on the northern border of O’Hare International Airport and just allow for shorter transit times for transportation companies in this area. minutes from the north entrance to the airport. » As of 2016, the building was the second largest non-utility in the state. 40-45% of the utilized electric is powered by Solar Panels. » Rents have escalated due to the demand for large blocks of space. » The I-294 Western Bypass Project will increase access and value to Property. 333 E. TOUHY AVENUE OFFERING MEMORANDUM | COLLIERS INTERNATIONAL // 3 EXECUTIVE SUMMARY TENANT OVERVIEW INDUSTRIAL ANYONE? Great Northern Corportation is a leading developer and manufacturer of creative solutions for packaging, shipping, merchandising and distributing products for industrial, commercial, retail malls, etc. Great Northern Corporation business units provide turnkey point of sale displays, packaging solutions, web-based manufacturers, technology, innovative protection solutions for the packaging industry and packaging products for roll and cylindrical products. 2018 revenues are projected to be approximately $600 million with consistent year-over- year profitibility and very little debt. 333 E. TOUHY AVENUE OFFERING MEMORANDUM | COLLIERS INTERNATIONAL // 4 EXECUTIVE SUMMARY CAPITAL MARKETS OVERVIEW INDUSTRIAL ANYONE? • Acceleration of capital market has out paced the underlying user market in Chicago • Industrial hotter than ever - Nationally industrial continues its star turn as the only major property sector to register sales gains in 2017 • Nationwide, industrial was the lone major sector to register year-to-year gains. These trends were generally more pro- nounced when focused on larger deals of at least $25 million • Severe shortage of well-located product nationally • National cap rate compression, particularly in the coastal mar- kets, gives additional room for Chicago cap rates to compress. Buy now, or it will get more expensive • Land positions with cash flow (covered land) very attractive to long-term investors • New cheaper capital moving to the Class B space in Chicago 333 E. TOUHY AVENUE OFFERING MEMORANDUM | COLLIERS INTERNATIONAL // 5 EXECUTIVE SUMMARY INVESTMENT HIGHLIGHTS HIGHLY DESIRABLE INFILL LOCATION AT THE HEART OF CHICAGO’S LARGEST INDUSTRIAL MARKET This market is comprised of over 140 million square feet of industrial product surrounding O’Hare International Airport, the largest transportation depot in the Central U.S. This area has historically been the strongest Chicago submarket, having the second lowest vacancy rate among the 22 submarkets tracked in Chicago’s industrial market. The 3.03% vacancy rate, an all-time low, represents a decline of nearly 250 basis points since the end of 2015. A densely developed landscape with an aging industrial base, the O’Hare industrial submarket is poised for tremendous growth as the federally funded $6.6 billion O’Hare Modernization Project (OMP) continues to come to fruition. Significant infrastructure improvements are under way to PSF RENTAL RATE expedite access within the highway network and expand the capacity of this critical transportation center. $4.00 PSF $4.25 PSF $4.50 PSF DEMAND SIGNIFICANTLY OUTPACING SUPPLY OF NEW PRODUCT IN THIS SUBMARKET In response to companies need for modern space in this land constrained area, there have been more than 30 buildings built in the O’Hare area totaling more than 8.0 million square feet since 1995. Demand for Class A warehouse space has been particularly strong on the north and west sides of O’Hare where land is more difficult to acquire as compared the south side of the airport. Land prices have jumped as developers are scrambling for any reasonable site that may be redeveloped to respond to the tremendous demand for efficient, clean modern 8.0% $8,600,000 $9,137,500 $9,675,000 space. 7.75% $8,877,419 $9,432,258 $9,989,096 CAP RATE » 333 E. TOUHY AVE 7.5% $9,173,333 $9,746,666 $10,320,000 » 333 E. TOUHY JANE ADDAMS MEMORIAL TOLLWAY TOUHY AVE 333 E. TOUHY AVENUE OFFERING MEMORANDUM | COLLIERS INTERNATIONAL // 6 EXECUTIVE SUMMARY TERMS OF SALE OFFERING PRICE CONTACT INFORMATION Market to establish price The sale of 333 E. TOUHY AVENUE is being exclusively handled by the Chicago office of the Colliers International
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