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Offering Memorandum NET LEASED MEDICAL INVESTMENT Net Leased Medical Building 5051 E. State Street , Rockford, IL 61108 JOSEPH ROSSI Joseph Rossi & Associates, Inc 630.353.1190 17W620 14th Street | Suite 201, Oakbrook Terrace, IL 60181 [email protected] 630.353.1190 | jrossiandassociates.com FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Additional Photos Rockford, IL 61108 JOSEPH ROSSI 630.353.1190 [email protected] 2 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Regional Map Rockford, IL 61108 JOSEPH ROSSI 630.353.1190 [email protected] 3 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Investment Highlights Rockford, IL 61108 VITAL DATA INVESTMENT HIGHLIGHTS Sale Price: $1,234,285 • 100% Leased Medical Building • Net Lease Structure | Limited Landlord Responsibility Cap Rate: 7.0% • Two Percent Annual Escalations • New Ten Year Lease at Closing NOI: $86,400 • Strong Credit Medical Tenant (15 Locations) • High Visibility Location Price/SF $257.14 • Recession & Internet Proof Lot Size: 56651.0 Acres Building Size: 4,800 SF Parking 20 spaces JOSEPH ROSSI 630.353.1190 [email protected] 4 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Income & Expenses Rockford, IL 61108 INCOME SUMMARY ORTHODONTICS EXPERTS INVESTMENT PER SF Gross Income $116,062 $24.18 EXPENSE SUMMARY ORTHODONTICS EXPERTS INVESTMENT PER SF Property Taxes $17,062 $3.55 C.A.M $9,600 $2.00 Property Insurance $3,000 $0.63 Gross Expenses $29,662 $6.18 Net Operating Income $86,400 $18.00 JOSEPH ROSSI 630.353.1190 [email protected] 5 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Tenant Profile Rockford, IL 61108 www.orthodonticexprts.com Led by Dr. Yaroslav Yarmolyuk Orthodontic Experts' mission is to provide a friendly, professional orthodontic team dedicated to providing quality care. We are committed to making a difference in the lives of our team members and empowering them to improve the health and well being of our patients. Orthodontic Experts conveniently serves Chicago land with 16 locations providing the best in class care for braces and Invisalign. Having highly trained and knowledgeable orthodontists that are dedicated to providing you the highest quality orthodontic care. JOSEPH ROSSI 630.353.1190 [email protected] 6 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Aerial Maps Rockford, IL 61108 JOSEPH ROSSI 630.353.1190 [email protected] 7 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street City Information Rockford, IL 61108 Rockford is a city in Winnebago County in the U.S. state of Illinois, in far northern Illinois. Located on the banks of the Rock River, Rockford is the county seat of Winnebago County (a small portion of the city is located in Ogle County). The largest city in Illinois outside of the Chicago metropolitan area, Rockford is the third-largest city in the state and the 171st most populous in the United States[6] According to 2010 U.S. Census Data, the City of Rockford had a population of 152,871, with an outlying metropolitan area population of 348,360. Settled in the mid-1830s, the position of the city on the Rock River made its location strategic for industrial development. In the second half of the 19th century, Rockford was notable for its output of heavy machinery and tools; by the twentieth century, it was the second leading center of furniture manufacturing in the nation, and 94th largest city. During the second half of the 20th century, Rockford struggled alongside many Rust Belt cities. Since the late 1990s, efforts in economic diversification have led to growth of automotive, aerospace, and healthcare industries, as well as the undertaking of various tourism and downtown revitalization efforts.Nicknamed the Forest City, Rockford is presently known for various venues of cultural or historical significance, including Anderson Japanese Gardens, Klehm Arboretum, Tinker Swiss Cottage, the BMO Harris Bank Center, the Coronado Theatre, the Laurent House, and the Burpee Museum of Natural History. Its contributions to music are noted in the Mendelssohn Club, the oldest music club in the nation, and performers such as Phantom Regiment and Cheap Trick. JOSEPH ROSSI 630.353.1190 [email protected] 8 FOR SALE | NET LEASED INVESTMENT 5051 E. State Street Demographics Map & Report Rockford, IL 61108 POPULATION 1 MILE 3 MILES 5 MILES Total population 9,019 74,080 167,594 Median age 37.8 41.9 40.0 Median age (Male) 35.8 40.8 39.2 Median age (Female) 41.9 43.2 41.1 HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES Total households 3,417 29,953 69,026 # of persons per HH 2.6 2.5 2.4 Average HH income $65,269 $65,795 $61,081 Average house value $148,354 $147,000 $150,966 * Demographic data derived from 2010 US Census JOSEPH ROSSI 630.353.1190 [email protected] 9.
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