A 135 Unit / 441 Bed Student-Oriented Living Community Located in Chicago’S Prestigious West Loop Neighborhood

A 135 unit / 441 bed student-oriented living community located in Chicago’s prestigious West Loop neighborhood

Holliday Fenoglio Fowler, L.P. (“HFF”) an Illinois licensed real estate broker. ailor Lofts (the “Property”) is a 135 unit / 441 bed student- oriented apartment community with +/- 8,896 SF of ground T level retail and is located in Chicago’s popular West Loop neighborhood, pedestrian to the largest university in the city. The student community’s proximity to several of Chicago’s world- class transportation options allow it to conveniently serve the estimated 120,000 student population in attendance at 20+ institutions within an average commute of less than 15 minutes.

FINANCING: OFFERING SUMMARY Free and Clear - available on an All Cash basis. Please PROPERTY ADDRESS: 315 S. Peoria St. contact Jason Bond (contact information on back of Chicago, IL 60607 this offering) for debt quotes/assistance. KEY SUPPORTED INSTITUTIONS*: Univerisity of Illinois-Chicago Columbia College Chicago Rush University DePaul University Kent College of Law

YEAR OF CONSTRUCTION: 1915 TOUR DATES: RENOVATION: 2009-10 Please contact HFF to set up a tour of the ZONING: DX-7/Downtown Mixed-Use community. The Owner and HFF respectively ACRES: .81 request that interested parties refrain from NET RENTABLE SQUARE FEET: 159,183 SF contacting any on-site personnel or residents. AVERAGE UNITS SIZE: 1,179 SF Tours must be scheduled in advance by contacting NUMBER OF STORIES: 10 Mike Higgins: NUMBER OF UNITS: 135 NUMBER OF BEDS: 441 Mike Higgins EXPECTED 2016-17 ACADEMIC YEAR OCCUPANCY: 95%+ 312.528.3657 *In order of highest concentration of tenants [email protected]

UNIT MIX Unit Type Unit Count Bedroom Count Size (SF) Studio 27 27 416 2 Bed / 2 Bath 9 18 865 4 Bed / 3 Bath 18 72 1,285 4 Bed / 4 Bath 81 324 1,445 Total/Average: 135 441 1,179

Chicago - “A Global City”

Chicago’s city amenities, diverse economy, and mid-continent location make it a central hub of the U.S and an incredibly desirable market for college students looking to launch their careers.

• With six professional sports teams, the largest national museum campus outside of Washington D.C., and some of the world’s best restaurants, Chicago offers residents access to a diverse range of entertainment options.

• Local and regional employers have migrated to downtown Chicago in droves, a new trend aimed at appealing to the talented, young work force. As such, Site Selection Magazine ranked Chicago the No. 1 city in the U.S. for corporate investments in facility projects in 2015.

• As the home to the second largest transit system in the U.S. and two of the busiest airports in the country, Chicago provides an abundance of convenient transportation options to cost-sensitive commuters and travelers.

Diverse Higher Education Hub

The schools surrounding Tailor Lofts range in size, focuses, and expertise, offering education for a diverse student profile. Many of these institutions have recently announced and implemented measures to achieve enrollment growth. Furthermore, the sheer quantity of schools insulates student-housing properties from the risk typically associated with enrollment declines at any one particular university. Some of the most recognizable institutions served by the Property include:

UNIVERSITY OF ILLINOIS AT CHICAGO UIC’s enrollment of 29,048 students in the 2015-16 academic year was an increase of nearly 1,100 from the prior year. The school is well poised for continued enrollment growth, due to several noteworthy initiatives (detailed on page 44), including the addition of transfer agreements with local 2-year schools, a new state bill making public state schools more affordable for Chicago Public School students, a proposed tuition freeze, and increased international student recruiting efforts.

RUSH UNIVERSITY MEDICAL CENTER – Rush is located just west of UIC, in the largest urban medical campus in the country. TThe university, which had an enrollment of 2,457 in 2015, has experienced 38% enrollment growth since 2009 and the hospital is ranked in the top 3% of the 5,600 U.S. hospitals.

COLUMBIA COLLEGE CHICAGO DEPAUL UNIVERSITY SCHOOL OF THE ART INSTITUTE OF CHICAGO The school (“CCC”), which has an enrollment DePaul, which has an enrollment of 23,799 This year SAIC was ranked the #2 graduate of 9,003 students, is the largest and most students, is the 13th largest private university art program and the most influential art diverse private, non-profit arts and media and the largest Catholic school in the country. school in the nation by two separate surveys. college in the United States. Additionally, The number of applicants has increased The sole remaining museum school in the CCC is the second largest college for out of 17% since 2011 and full time enrollment is up country hit a high watermark (3,519 students) state students in Illinois. nearly 25% over the last 10 years. in enrollment last year while increasing retention from 75% to 82% and increasing the percentage of Chicago students from 3% to 11% over the last five years.

Core Location

Tailor Lofts’ location in Chicago’s West Loop offers its tenants incredibly convenient access to one of the hottest emerging neighborhoods in the country, the closest proximity to the largest university in the city, and a very manageable commute to the over 20 higher education institutions in adjacent submarkets.

• Chicago’s Central Business District recent expansion to the West • With a Divvy bike station directly in front of the Property and five Loop has made way for a surge of desirable retail and restaurants, bus stops within 0.2 miles, Tailor Lofts boasts a Walk Score® of 91 earning the corridor the very appropriate “Restaurant Row” and an overall Transit Score® of 92, ranking it as one of the easiest label. Furthermore, the recent move of Google’s and McDonald’s locations in the city to access. headquarters to this area proves that the West Loop has become • The Property’s 0.1 mile walk to the UIC-Halsted ‘L’ stop is just one or the leading Work-Play-Live neighborhood in Chicago. two train stops from the 20+ universities with locations in Chicago’s • The Property’s two block walk to the northern border of Loop neighborhood. University of Illinois at Chicago’s (“UIC”) campus makes it one of the closest student-oriented living communities to the 29,000+ student university.

Attractive Market Fundamentals The local student housing market benefits from strong demand and limited supply metrics.

• The less than 10,000 estimated university-owned beds in downtown Chicago and the surrounding neighborhoods have forced schools to seek affiliations and master leases with the limited student-focused living communities.

• The two off-campus, student housing options that serve as the primary options for UIC and are west of I-90 reached 97% + occupancy last year.

• In addition to UIC’s on-campus stock reaching full capacity last year, the West Loop student housing supply is further constrained with the announcement of Rush University demolishing a 600 bed building in order to add a new medical facility.

Desirable Student Living Features Tailor Lofts offers a premier, student-centric living arrangement to its tenants.

• The community amenities, which include a lounge, fitness center, game room, tanning dome, business center, and study lounge, encourage collaboration and healthy lifestyles.

• Tenants can select studio, 2-bedroom, or 4-bedroom units, of which nearly 85% of the beds have highly desirable bed-bath parity.

• Tailor Lofts simplifies the leasing process for the student tenant base by providing fully furnished units, by-the-bed leases, and all-inclusive utilities (water, sewer, trash, cable & internet).

• The Property’s location, amenities, and living space makes it one of the most sought after housing options, as evidenced by its average occupancy of 96%+ over the last several years.

SEDGWICK ST

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Downtown CHicagO Higher Education Map RUSHST CHESTNUT ST 90 CHESTNUT ST LAKE SHORE DRIVE PEARSON ST

Eckhart Lake Shore Park Park

CHICAGO AVE CHICAGO AVE 94 CHICAGO AVE CHICAGO AVE MICHIGAN AVE DEARBORN ST LASALLE ST CLARK ST CHICAGO AVE STATE ST

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MICHIGAN AVE R WACKER DRIVE FULTON MARKET FULTON MARKET I FULTON ST ADA ST V E R Lake Shore LAKE ST LAKE ST East Park LAKE ST LAKE ST JEFFERSON ST GREEN ST CARPENTER ST WELL ST ELIZABETH ST MAY ST LAKE ST LAKE MICHIGAN CANAL ST CLINTON ST

RANDOLPH ST RANDOLPH ST Union Park RANDOLPH ST ABERDEEN ST KENNEDY EXPRESSWAY

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MADISON ST WABASH AVE WACKER DRIVE MADISON ST LASALLE ST CLARK ST RACINE AVE ABERDEEN ST MONROE ST MONROE ST DEARBORN ST MONROE ST STATE ST

MONROE ST FRANKLIN ST CLINTON ST LAFLIN ST ASHLAND AVE Mary Heritage Skinner Park Bartelme Green Butler The Art Institute Field Park Park of Chicago ADAMS ST ADAMS ST ADAMS ST

OGDEN AVE CANAL ST JACKSTON BLVD SANGAMON ST JACKSTON BLVD Everest LAKE SHORE DRIVE JACKSON BLVD JACKSTON BLVD college

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290 DWIGHT D. EISENHOWER EXPRESSWAY CONGRESS PKWY Buckingham Fountain

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Shedd Aquarium ROOSEVELT RD 94 ROOSEVELT RD ROOSEVELT RD ROOSEVELT RD Adler Planetarium

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BLUE ISLAND AVE INVESTMENT CONTACTS DEBT CONTACT BRIAN KELLY JASON BOND Managing Director Director 312.980.3605 312.980.3608 [email protected] [email protected]

MIKE HIGGINS HFF CHICAGO Associate Director 181 West Madison Street 312.528.3657 Suite 3900 [email protected] Chicago, IL 60602 312.528.3650 SCOTT CLIFTON hfflp.com Senior Analyst 312.300.7286 [email protected]

JOSEPH PERIS Analyst 312.300.7308 [email protected]

HFF has been engaged by the owner of the property [properties] to market it [them] for sale. Information concerning the property [properties] described herein has been obtained from sources other than HFF, and neither Owner nor HFF, nor their respective equity holders, officers, employees and agents makes any representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all reference to age, square footage, income, expenses and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a purchaser, and HFF, its partners, officers, employees and agents disclaim any liability that may be based upon or related to the information contained herein. Prospective purchasers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.

Holliday Fenoglio Fowler, L.P. (HFF) and HFF Securities L.P. (HFFS) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 23 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.