1152 w 17th street - images1.loopnet.com€¦ · virtual tours 10 additional photos 11 additional...
TRANSCRIPT
O F F E R I N G M E M O R A N D U M
1 152 W 17THSTREET
EAST P ILSEN | 7 UNIT | AS- ISSALE
Chicago, IL 60608
P R E S E N T E D BY:
PA U L C AW T H O NVice PresidentO: 312.676.1878 | C: [email protected]
A N G E L O L A B R I O L AVice PresidentO: 312.676.1870 | C: [email protected]
TA B L E O F CO N T E N T S
4 P R O P E R T Y I N F O R M AT I O N
Property Summary 5
Property Description 6
Property Details 7
Complete Highlights 8
Exterior Photos 9
Virtual Tours 10
Additional Photos 11
Additional Photos 12
Additional Photos 13
1 4 L O C AT I O N I N F O R M AT I O N
Location | Retailer Maps 15
1 6 R E N T R O L L
Rent Roll 17
1 8 D E M O G R A P H I C S
Demographics Map & Report 19
2 0 A D V I S O R B I O S
SVN Real Estate Team 21
CLG | Pilsen Area Transaction Resume 22
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 3
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any otherpurpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN® Advisor or PropertyOwner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized bythe Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not chooseto pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein,and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may includecertain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that suchestimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in oromitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely onthose representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers,employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouragedto conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or allexpressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any timewith or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Propertyunless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner’s sole discretion. By submitting an offer,a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence orstatements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.
S EC T I O N 1
PROPERT YINFORMATION
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 5
P R O P E R T Y OV E RV I E WLarge 7-unit building being sold as-is, with 5 units in the front brick building and 2 units in the rear coach house. Great cityviews and green space in the back for gardening or entertaining. Potential to Duplex or add an 8th non-conforming unit.Two units currently have in-unit washer and dryers with on-site laundry in the basement for remaining units. Extremelywell maintained with numerous upgrades completed including a tear-off roof (2008), tuck-pointing, spray foam insulationin attic, new electric service, dual pane windows and furnaces. Minimal updates required to significantly increase rents andcapture a great return on investment in a highly appreciating neighborhood of Chicago. A great unit mix and favorablefloor plans are just a few features of this rarely available 7 unit building. A majority of the units are on month-to-monthleases allowing new ownership to increase rents or update the units easily.
P R O P E R T Y H I G H L I G H T S• Walking distance to CTA Pink Line & Metra BNSF
• Being Sold As-Is
• Steps to 18th Street Retail Corridor
• Skyline Views
• Value-add Opportunity
O F F E R I N G S U M M A RY
S A L E P R I C E : $ 1 , 0 0 0 , 0 0 0
B U I L D I N G S I Z E : 3 , 9 4 0 S F
U N I T S 7
L O T S I Z E : 2 , 9 7 6 S F
Y E A R B U I LT : 1 8 7 3
Z O N I N G : R T- 4
M A R K E T : C h i c a g o
A P N : 1 7 - 2 0 - 4 0 0 - 0 3 6 - 0 0 0 0
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 6
P R O P E R T Y D E S C R I P T I O NLarge 7-unit building being sold as-is with 5 units in the front brick building and 2 units inthe rear coach house. Great city views and green space in the back for gardening orentertaining. Potential to Duplex or add an 8th non-conforming unit. Two units currentlyhave in-unit washer and dryers with on-site laundry in the basement for remaining units.
Extremely well maintained with numerous upgrades completed including a tear-off roof(2008), tuck-pointing, spray foam insulation in attic, new electric service, dual panewindows and furnaces.
Minimal updates required to significantly increase rents and capture a great return oninvestment in a highly appreciating neighborhood of Chicago.
A great unit mix and favorable floor plans are just a few features of this rarely available 7unit building. A majority of the units are on month-to-month leases allowing new ownershipto increase rents or update the units easily.
LO C AT I O N D E S C R I P T I O NThe subject property is located in Chicago's highly sought after East Pilsen neighborhood on17th Street between Racine Avenue and Carpenter Street.
Pilsen is located approximately a mile to Chicago's Business District, University of IllinoisChicago (UIC), 2 miles to the Illinois Medical District and features easy access to PublicTransportation and I-90/94, I-55 and I-290 Interstates.
The building is just a few steps to the 18th Street retail corridor, home to award-winningrestaurants, cafes, boutiques and more. Walking distance to Mural Park, a 200,000 SF Officeand retail redevelopment, the proposed Paseo Trail and the Halsted Street Metra Station.
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 7
SA L E P R I C E $ 1 ,0 0 0,0 0 0
LO C AT I O N I N FO R M AT I O N
B U I L D I N G N A M E E a s t P i l s e n | 7 U n i t
S T R E E T A D D R E S S 1 1 5 2 W 1 7 t h S t r e e t
C I T Y, S TAT E , Z I P C h i c a g o , I L 6 0 6 0 8
C O U N T Y C o o k
M A R K E T C h i c a g o
P R O P E R T Y I N FO R M AT I O N
P R O P E R T Y S U B T Y P E L o w - R i s e / G a r d e n
A P N # 1 7 - 2 0 - 4 0 0 - 0 3 6 - 0 0 0 0
L O T F R O N TA G E 2 4 ft
L O T D E P T H 1 2 4 ft
B A S E M E N T Ye s | F u l l
AT T I C Ye s | F u l l | F r o n t
B U I L D I N G I N FO R M AT I O N
T E N A N C Y M u l t i p l e
N U M B E R O F F L O O R S 3
Y E A R B U I LT 1 8 7 3
G R O S S L E A S A B L E A R E A 3 , 9 0 0 S F
C O N S T R U C T I O N S TAT U S E x i s t i n g
F R E E S TA N D I N G Ye s
N U M B E R O F B U I L D I N G S 2
C U S TO M TA B L E
R E A L E S TAT E TA X E S ( 2 0 1 9 ) 8 , 3 5 5 . 0 9
E X E M P T I O N S H o m e o w n e r E x e m p t i o n
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 8
LO C AT I O N I N FO R M AT I O N
B U I L D I N G N A M E E a s t P i l s e n | 7 U n i t
S T R E E T A D D R E S S 1 1 5 2 W 1 7 t h S t r e e t
C I T Y, S TAT E , Z I P C h i c a g o , I L 6 0 6 0 8
C O U N T Y C o o k
M A R K E T C h i c a g o
S I G N A L I N T E R S E C T I O N N o
B U I L D I N G I N FO R M AT I O N
T E N A N C Y M u l t i p l e
N U M B E R O F F L O O R S 3
Y E A R B U I LT 1 8 7 3
G R O S S L E A S A B L E A R E A 3 , 9 0 0 S F
C O N S T R U C T I O N S TAT U S E x i s t i n g
F R E E S TA N D I N G Ye s
N U M B E R O F B U I L D I N G S 2
P R O P E R T Y H I G H L I G H T S• Walking distance to CTA Pink Line & Metra BNSF
• Walk Score of 93 - Walker's Paradise
• Steps to 18th Street Retail Corridor
• Skyline Views
• Value-add Opportunity
• Being Sold As-Is
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 9
CLICK HERE FOR VIRTUAL TOURATTIC
CLICK HERE FOR VIRTUAL TOUR3F
CLICK HERE FOR VIRTUAL TOUR3R
CLICK HERE FOR VIRTUAL TOUR2F
VIRTUAL TOURS
E A S T P I L S E N | 7 U N I T 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 10
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 11
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 12
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 13
S EC T I O N 2
LOCATIONINFORMATION
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 15
S EC T I O N 3
RENT ROLL
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 17
U N I TN U M B E R
U N I TB E D
U N I TBAT H
U N I TS I Z E (S F )
L E A S ES TA R T
L E A S EE N D
C U R R E N TR E N T
C U R R E N TR E N T (P E R S F )
M A R K E TR E N T
M A R K E TR E N T/ S F
1 F 1 1 5 4 0 $ 1 , 2 0 0 $ 2 . 2 2 $ 1 , 2 5 0 $ 2 . 3 1
1 R 1 1 5 4 0 6 / 1 / 2 0 5 / 3 1 / 2 1 $ 9 3 5 $ 1 . 7 3 $ 1 , 2 0 0 $ 2 . 2 2
2 F 2 1 1 , 0 0 0 9 / 1 / 2 0 8 / 3 1 / 2 1 $ 1 , 4 0 0 $ 1 . 4 0 $ 1 , 6 2 5 $ 1 . 6 3
3 F 1 1 5 4 0 $ 0 $ 0 . 0 0 $ 1 , 2 5 0 $ 2 . 3 1
3 R 1 1 5 4 0 $ 0 $ 0 . 0 0 $ 1 , 2 0 0 $ 2 . 2 2
1 C H 1 1 6 0 0 1 0 / 1 / 1 9 9 / 3 0 / 2 1 $ 9 5 0 $ 1 . 5 8 $ 1 , 0 5 0 $ 1 . 7 5
2 C H 1 1 6 0 0 7/ 1 / 2 0 6 / 3 0 / 2 1 $ 9 4 0 $ 1 . 5 7 $ 1 , 0 5 0 $ 1 . 7 5
TOTA L S / AV E R AG E S 4 , 3 6 0 $ 5 , 4 2 5 $ 1 . 24 $ 8 ,6 2 5 $ 2 .0 3
S EC T I O N 4
D E M O G R A P H I C S
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 19
P O P U L AT I O N 0. 5 M I L E S 1 M I L E 1 . 5 M I L E S
T O TA L P O P U L AT I O N 1 3 , 3 5 8 3 6 , 2 7 0 8 0 , 7 0 0
AV E R A G E A G E 3 0 . 7 3 1 . 2 3 2 . 5
AV E R A G E A G E ( M A L E ) 3 0 . 6 3 1 . 1 3 2 . 5
AV E R A G E A G E ( F E M A L E ) 3 1 . 9 3 1 . 7 3 3 . 0
H O U S E H O L D S & I N CO M E 0. 5 M I L E S 1 M I L E 1 . 5 M I L E S
T O TA L H O U S E H O L D S 5 , 3 7 8 1 4 , 1 7 8 3 1 , 4 2 7
# O F P E R S O N S P E R H H 2 . 5 2 . 6 2 . 6
AV E R A G E H H I N C O M E $ 4 7 , 2 8 1 $ 5 2 , 9 8 3 $ 5 9 , 9 1 8
AV E R A G E H O U S E VA L U E $ 2 9 6 , 5 1 7 $ 3 6 0 , 3 3 1 $ 3 6 0 , 2 8 6
* Demographic data derived from 2010 US Census
S EC T I O N 5
ADVISOR B IOS
E A S T P I L S E N | 7 U N I T | A S - I S S A L E 1152 W 17th Street Chicago, IL 60608 S V N | C H I C A G O C O M M E R C I A L 21
Biography
MEETTHE TEAM
Paul CawthonVice President
Paul Cawthon serves as a Vice President for SVN | Chicago Commercial. Hespecializes in multi-family, sale and leasing of retail, as well as commercialdevelopment property. The Cawthon- Labriola team are specialists in thePilsen neighborhood, with 90+ transactions completed in the neighborhood.
Prior to joining SVN he served as a senior commercial associate with theChicago office of Inland Real Estate Brokerage, Inc. A business owner forover 15 years, Mr. Cawthon capitalizes on his entrepreneurial skills andexperience by offering his clients in-depth analysis of real estate productsand financial solutions for their real estate investments. During his extensivereal estate career Cawthon has won numerous real estate awards for hisachievements. Mr. Cawthon and Angelo Labriola of the Cawthon-LabriolaGroup of SVN | Chicago Commercial have been ranked in the top 7% of allSVN Advisors internationally in 2016, 2017 and 2018.
Paul resides with his family in Burr Ridge and in his spare time likes to spendtime with his wife, Reda and their two daughters, Sedona and Savanna.
Angelo LabriolaVice President
Angelo Labriola serves as a Vice President for SVN | Chicago Commercial,specializing in the sale of multi-family, mixed-use, development land, retailand industrial property. The Cawthon-Labriola team are specialists in thePilsen neighborhood, with 90+ transactions completed in the neighborhood.
Prior to joining SVN he served as a commercial associate with the Chicagooffice of Inland Real Estate Brokerage, Inc. During his career Labriola haswon numerous real estate awards for his achievements, both in-office andthrough the Chicago Association of Realtors. Mr Labriola & Paul Cawthon ofthe Cawthon-Labriola group of SVN | Chicago Commercial have been rankedin the top 7% of all SVN Advisors internationally in 2016, 2017, & 2018.
Mr. Labriola has is currently a part of the Chicago Association of Realtors(CAR), the Illinois Association of Realtors (IAR) and the National Associationof Realtors (NAR). He earned a B.S. in Finance and a minor in Economics withan emphasis in Real Estate from DePaul University in Chicago, IL.
Mr. Labriola currently resides in Oak Park, enjoys the game of soccer, andspends as much of his spare time as he can with his wife, two children, andhis dog.
1) 1040 W 18th Street 2) 1044 W 18th Street 3) 1800 S Carpenter Street 4) 1802 S Carpenter Street 5) 1726 S Racine Avenue 6) 1812 S Throop Street 7) 1324 W 18th Street 8) 1329 W 18th Street 9) 1348 W 18th Street 10) 1401 W 18th Street 11) 1640 W 18th Street 12) 1744 W 18th Street 13) 1727 W 18th Street 14) 1739 W 18th Street 15) 1722 W 21st Street 16) 1724 W 21st Street 17) 1726 W 21st Street 18) 1756 W 21st Place 19) 2121 S Ashland Avenue 20) 2315 W 24th Place 21) 1644 W Cermak Road 22) 1826 W Cermak Road 23) 1840 W Cermak Road 24) 1842 W Cermak Road 25) 1842 S Blue Island Avenue 26) 1850 S Blue Island Avenue 27) 1852 S Blue Island Avenue 28) 1860 S Blue Island Avenue 29) 1862 S Blue Island Avenue 30) 1942 S May Street 31) 1824 S Desplaines Street 32) 2002 S Desplaines Street 33) 1706 W 17th Street 34) 1518 W 17th Street 35) 2001 S Allport Street
36) 2133 W 19th Street 37) 2134 W 18th Street 38) 1854 W 18th Street 39) 2324 W Cullerton Street 40) 2214 W 21st Street 41) 2037 W 19th Street 42) 2435 S California Avenue 43) 3329 S Morgan Street 44) 1701 W Cullerton Street 45) 1839 S May Street 46) 3300 S Bell Avenue 47) 1848 S Blue Island Avenue 48) 1437 W Cullerton Street 49) 3132-34 S Lituanica Avenue (Sold 2x) 50) 2223 W 21st Street 51) 1520 W 18th Place 52) 2721 W 24th Place 53) 2018 W 21st Place 54) 2401 S Leavitt Street 55) 1946 S Racine Avenue 56) 2235 W Cullerton Street 57) 1900 W 17th St 58) 1443 W 18th Street 59) 1850-54 S Racine Avenue 60) 2431 S Millard Ave (Off Map) (Sold 2x) 61) 2431 S Millard Ave (Off Map) (Sold 2x) 62) 2955 S Loomis Street 63) 2143-45 S Halsted Street 64) 2141 W 21st Street 65) 2001 W 18th Place 66) 1637 W 18th Street 67) 1700 W 19th Street
68) 1702 S Morgan Street 69) 1702 S Morgan Street (Sold 2x) 70) 2246 S Whipple Street 71) 2201 S Halsted Street 72) 1820 S Leavitt Street 73) 1719 W 18th Street 74) 1327 W 18th Street 75) 1824 S Ashland Avenue (Pending) 76) 2400 S Troy (Sold 2x) 77) 2400 S Troy (Sold 2x) 78) 3132-34 S Lituanica Avenue 79) 2303 S Sacramento Blvd 80) 2353 S Whipple Street 81) 1925 S May Street (Pending) 82) 1843 W Cullerton Street 83) 818 W 18th Street 84) 1501-03 W 17th Street (Pending) 85) 1644 W 21st Street 86) 2226 W Cermak Road 87) 1838 W 21st Place 88) 2121 W 19th Street 89) 1733 W 19th Street 90) 2238 W 24th Street 91) 3323 S May Street 92) 2049 W Coulter Street 93) 3315 S Halsted Street 94) 1846 W 18th Street (Pending) 95) 2000 W 22nd Place (Pending)
CAWTHON LABRIOLA GROUP LIST OF COMPLETED TRANSACTIONS