Absolute $1 Auction - Dollar General Anchored Retail Center 1105 E RANDOLPH ST | MCLEANSBORO, IL 62859 MAY 24-26, 2021 | STARTING BID: $1- FIRST BID MEETS RESERVE! ONLINE AUCTION CONFIDENTIALITY AGREEMENT AFFILIATED BUSINESS DISCLOUSURE
This brochure is intended solely for your limited use and benefit in determining whether you CBRE, Inc. operates within a global family of companies with many subsidiaries and/ desire to express further interest in the acquisition of the Property. This Brochure contains or related entities (each an “Affiliate”) engaging in a broad range of commercial selected information pertaining to the Property and does not purport to be a representation real estate businesses including, but not limited to, brokerage services, property and of the state of affairs of the Property or the owner of the Property (the “Owner”), to be facilities management, valuation, investment fund management and development. all-inclusive or to contain all or part of the information which prospective investors may At times different Affiliates may represent various clients with competing interests in require to evaluate a purchase of real property. All financial projections and information the same transaction. For example, this Brochure may be received by our Affiliates, are provided for general reference purposes only and are based on assumptions relating including CBRE Investors, Inc. or Trammell Crow Company. Those, or other, Affiliates to the general economy, market conditions, competition and other factors beyond the may express an interest in the property described in this Brochure (the “Property”) may control of the Owner and CBRE, Inc. Therefore, all projections, assumptions and other submit an offer to purchase the Property and may be the successful bidder for the information provided and made herein are subject to material variation. All references Property. You hereby acknowledge that possibility and agree that neither CBRE, Inc. to acreages, square footages, and other measurements are approximations. Additional nor any involved Affiliate will have any obligation to disclose to you the involvement information and an opportunity to inspect the Property will be made available to interested of any Affiliate in the sale or purchase of the Property. In all instances, however, CBRE, and qualified prospective purchasers. In this Brochure, certain documents, including leases Inc. will act in the best interest of the client(s) it represents in the transaction described and other materials, are described in summary form. These summaries do not purport in this Brochure and will not act in concert with or otherwise conduct its business in to be complete nor necessarily accurate descriptions of the full agreements referenced. a way that benefits any Affiliate to the detriment of any other offeror or prospective Interested parties are expected to review all such summaries and other documents of offeror, but rather will conduct its business in a manner consistent with the law and whatever nature independently and not rely on the contents of this Brochure in any manner. Neither the Owner or CBRE, Inc, nor any of their respective directors, officers, Affiliates DISCLAIMER or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this brochure or any of its contents, and no legal commitment © 2019 CBRE, Inc. The information contained in this document has been obtained or obligation shall arise by reason of your receipt of this Brochure or use of its contents; and from sources believed reliable. While CBRE, Inc. does not doubt its accuracy, CBRE, you are to rely solely on your investigations and inspections of the Property in evaluating a Inc. has not verified it and makes no guarantee, warranty or representation about possible purchase of the real property. it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions do not represent the current or future performance of the property. The value of of interest or offers to purchase the Property, and/or to terminate discussions with any entity this transaction to you depends on tax and other factors which should be evaluated at any time with or without notice which may arise as a result of review of this Brochure. The by your tax, financial and legal advisors. You and your advisors should conduct a Owner shall have no legal commitment or obligation to any entity reviewing this Brochure careful, independent investigation of the property to determine to your satisfaction the or making an offer to purchase the Property unless and until written agreement(s) for the suitability of the property for your needs. purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. By receipt of this Brochure, you agree that this Brochure and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Brochure or any of its contents to any other entity without the prior written authorization of the Owner or CBRE, Inc. You also agree that you will not use this Brochure or any of its contents in any manner detrimental to the interest of the Owner or CBRE, Inc. If after reviewing this Brochure, you have no further interest in purchasing the Property, kindly return this Brochure to CBRE, Inc. Absolute $1 Auction - Dollar General Anchored Retail Center 1105 E RANDOLPH ST | MCLEANSBORO, IL 62859
TABLE OF CONTENTS
property photo LAYER 1 01 EXECUTIVE SUMMARY 02 HIGHLIGHTS 03 2021 FINANCES 04 MARKET OVERVIEW 05 TERMS
AUCTION ADVISORS ADAM SKLAVER PHIL KATES FIRST VICE PRESIDENT FIRST VICE PRESIDENT 301-706-4619 305-206-1286 [email protected] [email protected]
BROKER OF RECORD DERRICK ALMASSY FIRST VICE PRESIDENT 954-745-7468 IL LICENSE: 475149475 01| EXECUTIVE SUMMARY AUCTION DETAILS: EXECUTIVE SUMMARY DATES: MAY 24-26 1105 E RANDOLPH ST | MCLEANSBORO, IL 62859 STARTING BID: $1 PLACE YOUR BID/ACCESS DUE DILIGENCE: rimarketplace.com/auction/870 CBRE and RealINSIGHT Marketplace are proud to offer McLeansboro Shopping Center, a well-positioned retail strip center located at 1105 E Randolph Street in McLeansboro, IL.
The Property consists of a single-story building totaling ±18,380 SF positioned on 3.61-acres with over 100 parking spaces. The Property offers two pylons and building signage visible on Illinois State Road 14 with traffic counts of 3,802 vehicles per day. The Property is 72.7% occupied by Dollar General, the DMV, and a local Mexican restaurant. Dollar General has been at the Property since 1976. McLeansboro is the county seat of Hamilton County, Illinois approximately 100 miles east of St. Louis, Missouri. The agriculture- focused community has recently begun to experience a renaissance of commerce expanding into medical, coal mining, and various other industries. As of 2020, the Property’s demographics have ±4,389 individuals residing within a 5-mile radius, with an average household income of ±$61,308. 02 | PROPERTY HIGHLIGHTS 1105 E RANDOLPH ST | MCLEANSBORO, IL 62859
ONLINE AUCTION: MAY 24-26, 2021 | $1 STARTING BID 72.7% LEASED TO DOLLAR GENERAL, DMV AND LOCAL RESTAURANT WITH $80,009 IN BUDGETED NOI FOR 2021 PROPERTY TYPE: RETAIL PARCEL #: ±13.6 MI FROM I-64 08-14-300-037 & 08-14-300-038 ±110-MI FROM ST. LOUIS
DOLLAR GENERAL DID OVER $2.2M IN STORE SALES IN 2020; CLEARED % RENT THRESHOLD BY OVER $650,000
VALUE-ADD OPPORTUNITY TO RENEW LEASES AT MARKET RATE AND LEASE UP THE VACANT SPACE 03 | 2021 FINANCES 1105 E RANDOLPH ST | MCLEANSBORO, IL 62859
2021 BUDGET
2021 RENT ROLL 04| MARKET OVERVIEW MCLEANSBORO, IL
OVERVIEW McLeansboro is the county seat of Hamilton County, located in southern Illinois at the midpoint between St. Louis and Louisville. A small town with midwestern charm, McLeansboro is home to a vibrant community of citizens and a number of natural wonders including the Shawnee national forest and the Shawnee wine trail.
NATURAL BEAUTY
SHAWNEE NATIONAL FOREST Shawnee National Forest is located in the Illinois Ozarks. The vast Ozark mountain range reaches into Missouri, Oklahoma, and Arkansas. The wilderness area in the Shawnee National Forest is known as the Garden of the Gods, which aptly describes the ethereal beauty of this undisturbed natural area.
SHAWNEE WINE TRAIL The Shawnee Wine Trail is a 35 mile stretch of land that is populated by 11 award-winning vineyards. Year after year, the wine trail attracts many visitors to its tasting rooms. The trail is dotted with charming towns and hiking trails that keep visitors come back year after year. STREET MAP & 5-MILE DEMOGRAPHICS 1105 E RANDOLPH ST | MCLEANSBORO, IL 62859
KEY FACTS INCOME
$39,796 MEDIAN HOUSEHOLD 4,400 POPULATION INCOME
2.09% ANNUAL INCOME GROWTH 2.28 AVG. HOUSEHOLD SIZE $54,220 AVG HOUSEHOLD INCOME
43.9 MEDIAN AVG. AGE EDUCATION
-0.07% 2010-20 GROWTH RATE 10.5% NO HIGH SCHOOL DIPLOMA
BUSINESS 37.8% HIGH SCHOOL GRADUATE
179 TOTAL BUSINESSES 24.4% SOME COLLEGE
1,363 TOTAL EMPLOYEES 27.2% ASSOCIATE / BACHELOR / GRADUATE DEGREE
ANNUAL HOUSEHOLD EMPLOYMENT
$1,275 APPAREL & SERVICES 48.4% WHITE COLLAR
$3,580 GROCERIES 31.7% BLUE COLLAR
$2,283 EATING OUT
19.9% SERVICES $4,029 HEALTH CARE 05| TERMS BUYER QUALIFICATION DUE DILIGENCE
Prospective bidders will be required to register with RealINSIGHT Due diligence materials are available to qualified prospective Marketplace to bid. Each bidder will be required to provide current bidders via an electronic data room hosted by RealINSIGHT contact information, submit proof of funds up to the full amount Marketplace. Prospective bidders will be required to electronically they plan to bid, and agree to the Auction Terms and Conditions. execute a confidentiality agreement prior to being allowed access In order to participate in an auction, the Seller requires bidders to the materials. All due diligence must be conducted prior to to provide proof of their liquidity in an amount of at least their signing the purchase and sale agreement. You may contact the anticipated maximum bid for those assets they wish to bid on. Such sales advisors with any due diligence questions. liquidity must be in the form of cash, or cash equivalents, and must be available immediately without restriction.
Generally, recent bank statements, brokerage account statements, ABSOLUTE AUCTION or bank letters are acceptable. A line of credit statement may be acceptable only if it is already closed and in place, has undrawn This will be an absolute auction but do not have a reserve or capacity, and may be funded immediately without bank approval. minimum sale price, which guarantees the sale to the highest Loan pre-approval letters, term sheets, and the like, where bidder. All bidders agree to execute the non-negotiable purchase the loan would be collateralized by the property up for auction and sale agreement, which will be posted to the electronic data and funded at escrow closing, are NOT acceptable. Capital room prior to bidding commencement, should they be awarded call agreements, investor equity commitments, and the like, are the deal. For further information about how to bid, please visit the evaluated on a case-by-case basis. The acceptance of any proof Bidding page (https://marketplace.realinsight.com/faq-bidding). of funds documents are made at the sole and absolute discretion of RealINSIGHT Marketplace. For further information, please visit the Bidder Registration FAQ (https://marketplace.realinsight.com/ faq-bid-registration). CLOSING Following the auction, the winning bidder will be contacted by phone and email to go over specifics of the sale, including the THE OFFERING PROCESS execution of the purchase agreement and all documentation involved in the purchase. The winning bidder must be available by An online auction event will be conducted on RealINSIGHT telephone within two hours of the sale. More information can be Marketplace in accordance with the Sale Event Terms and found on the RealINSIGHT Marketplace website. Conditions (https://marketplace.realinsight.com/legal-sale- terms).
AUCTION ADVISERS BROKER OF RECORD
ADAM SKLAVER PHIL KATES DERRICK ALMASSY FIRST VICE PRESIDENT FIRST VICE PRESIDENT FIRST VICE PRESIDENT ONLINE 301-706-4619 305-206-1286 954-745-7468 AUCTION [email protected] [email protected] IL LICENSE: 475149475 MAY 24-26, 2021