for sale boxes to buses self storage portfolio · 2012-04-18 · 575 larry power road, bourbonnais,...

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FOR SALE T he Boxes to Buses Self Storage Portfolio are two institutional-quality facilities located about one mile apart in Bourbonnais, Illinois, about 60 minutes south of Chicago, off of Interstate 57. e properties are located within the Route 50 retail corridor, the premier retail destination for Kankakee County, and is comprised of the Northfield Square Mall, at 530,000 sq. ſt. shopping center anchored by Carson Pirie Scott, JC Penney and Sears, and big-box retailers Wal-Mart, Target, Kohl’s, Lowe’s, Best Buy, Kmart, Menards, hotels, restaurants and car dealerships. Bourbonnais is home to both Olivet Nazarene University and the summer training camp of the Chicago Bears NFL football team. e facilities serve the communities of Bourbonnais, Bradley and Kankakee, as well as Manteno to Momence. e single-story portfolio is 94.1% occupied and consists of 131,427 rentable square feet. Revenue increased 21% in 2011. e portfolio consists of 786 storage units and 38 RV/parking spaces, and 14.6% of space is climate controlled. Both facilities feature excellent street visibility, property signage, and curb appeal along primary east/west thoroughfares for the community and near ingress/regress for Interstate 57. Traffic count for Armour Boulevard is approximately 19,400 daily. e facilities feature high-end retail offices, climate controlled space, exterior drive-up units, oversized units, wide paved driveways, and bright lighting throughout. e security features include 24-hour digital surveillance, flat screen monitors, digital key pad access, automatic gate access, and perimeter fencing. e offering represents an ideal opportunity for an investor to purchase a stabilized, best-in-class portfolio with $833,563 in Gross Income and $479,257 of Net Operating Income in 2011. Exclusive Agents: Marc A. Boorstein, CCIM Principal 312.726.5800 x013 [email protected] Jeffrey L. Jacobson Principal 312.726.5800 x014 [email protected] David E. Kohn, CCIM Vice President 312.726.5800 x018 [email protected] MJ PARTNERS SELF STORAGE GROUP 150 S. Wacker Drive, Suite 450 Chicago, Illinois 60606 312.726.5800 312.726.2905 fax www.mjpartners.com 1847 Armour Road, Bourbonnais, Illinois BOXES TO BUSES SELF STORAGE PORTFOLIO Bourbonnais, Illinois 575 Larry Power Road, Bourbonnais, Illinois

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Page 1: FOR SALE BOXES TO BUSES SELF STORAGE PORTFOLIO · 2012-04-18 · 575 Larry Power Road, Bourbonnais, Illinois. BOXES TO BUSES SELF STORAGE PORTFOLIO Bourbonnais, Illinois 171 50 34

FOR SALE

The Boxes to Buses Self Storage Portfolio are two institutional-quality facilities located about one mile apart in Bourbonnais, Illinois, about 60 minutes south of Chicago, off of Interstate 57. The

properties are located within the Route 50 retail corridor, the premier retail destination for Kankakee County, and is comprised of the Northfield Square Mall, at 530,000 sq. ft. shopping center anchored by Carson Pirie Scott, JC Penney and Sears, and big-box retailers Wal-Mart, Target, Kohl’s, Lowe’s, Best Buy, Kmart, Menards, hotels, restaurants and car dealerships. Bourbonnais is home to both Olivet Nazarene University and the summer training camp of the Chicago Bears NFL football team. The facilities serve the communities of Bourbonnais, Bradley and Kankakee, as well as Manteno to Momence.

The single-story portfolio is 94.1% occupied and consists of 131,427 rentable square feet. Revenue increased 21% in 2011. The portfolio consists of 786 storage units and 38 RV/parking spaces, and 14.6% of space is climate controlled. Both facilities feature excellent street visibility, property signage, and curb appeal along primary east/west thoroughfares for the community and near ingress/regress for Interstate 57. Traffic count for Armour Boulevard is approximately 19,400 daily. The facilities feature high-end retail offices, climate controlled space, exterior drive-up units, oversized units, wide paved driveways, and bright lighting throughout. The security features include 24-hour digital surveillance, flat screen monitors, digital key pad access, automatic gate access, and perimeter fencing. The offering represents an ideal opportunity for an investor to purchase a stabilized, best-in-class portfolio with $833,563 in Gross Income and $479,257 of Net Operating Income in 2011.

Exclusive Agents:

Marc A. Boorstein, CCIMPrincipal312.726.5800 [email protected]

Jeffrey L. JacobsonPrincipal312.726.5800 [email protected]

David E. Kohn, CCIMVice President312.726.5800 [email protected]

MJ PARTNERSSELF STORAGE GROUP

150 S. Wacker Drive, Suite 450Chicago, Illinois 60606312.726.5800312.726.2905 faxwww.mjpartners.com

1847 Armour Road, Bourbonnais, Illinois

BOXES TO BUSESSELF STORAGE PORTFOLIO

B o u r b o n n a i s , I l l i n o i s

575 Larry Power Road, Bourbonnais, Illinois

Page 2: FOR SALE BOXES TO BUSES SELF STORAGE PORTFOLIO · 2012-04-18 · 575 Larry Power Road, Bourbonnais, Illinois. BOXES TO BUSES SELF STORAGE PORTFOLIO Bourbonnais, Illinois 171 50 34

BOXES TO BUSES SELF STORAGE PORTFOLIO

B o u r b o n n a i s , I l l i n o i s

171

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34

6464

38

99

36

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59

53 52

45

63

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114

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11317

16

54

25

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2155

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5588

290

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294

355

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90

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ChicagoSt. Charles

Bolingbrook

Orland Park

Joliet

ChicagoHeights

Bourbonnais

Coal City

Channahon

Bon�eld

Manteno

Monee

Schereville

Lake Village

Momence

ParkForest

Peotone

Shorewood

Aurora Westmont

Berwyn

Oak Park

Naperville

Blue Island

N

Kankakee

94

1847 ARMOUR ROADBOURBONNAIS, ILLINOIS

575 LARRY POWER ROADBOURBONNAIS, ILLINOIS

MJ Partners Real Estate Services • 150 S. Wacker Drive, Suite 450 • Chicago, Illinois 60606 • 312.726.5800 • www.mjpartners.com

No warranty or representation, expressed or implied is made as to the accuracy of the information herein, and same is submitted subject to errors, omissions, change of price or other conditions, withdrawal without notice, and to any special listing conditions imposed by our principals.

O f f e r i n g H i g h l i g h t s

�•� Premier�Retail�Locations:�Properties are located within the Route 50 Retail Corridor, comprised of the Northfield Square Mall, a 530,000 sq. ft. shopping center anchored by department stores Carson Pirie Scott, JC Penney and Sears, and big-box retailers Wal-Mart, Target, Kohl’s, Lowe’s, Best Buy, Kmart, Menards, as well as other retailers and restaurants.

�•� Institutional-Quality� Assets:� Facilities feature single-story design, climate controlled space, exterior drive-up units, high-end retail offices, 24-hour digital surveillance and digital key pad automatic gate access.

�•� Highly�Visible�Locations:�The facilities features excellent signage and visibility located on heavily travelled, primary thoroughfares with high traffic counts.

�•� List�Price:�$6,675,000

P o r t f o l i o S u m m a r y

Total Net Rentable Area: 131,427 sq. ft.Number of Self Storage Units: 786 unitsNumber of RV/Parking Spaces: 38 spacesPhysical Occupancy: 94.1%Gross Potential Rental Income (100%): $1,100,424Total Gross Income: $833,5632011 Net Operating Income $479,257

5 7 5 L a r r y P o w e r R o a d , B o u r b o n n a i s , I l l i n o i s

Total Net Rentable Area: 83,335 sq. ft.Number of Self Storage Units: 446 unitsNumber of RV/Parking Spaces: 38 spacesPhysical Occupancy: 96.9%Year Opened: 2006

1 8 4 7 A r m o u r R o a d , B o u r b o n n a i s , I l l i n o i s

Total Net Rentable Area: 48,092 sq. ft.Number of Self Storage Units: 340 unitsPhysical Occupancy: 90.5%Year Opened: 2001Renovated: 2010