rockwell residences - loopnet · 2018. 12. 21. · property name: rockwell residences property...

MARK J. REITER PAUL NELHART312.324.3557 312.324.3557

[email protected] [email protected]

FOR SALE

5M REAL ESTATE, INC.1016 W. Jackson Blvd | Chicago, IL 60607312.324.3557 | 5mgroup.com

ROCKWELLRESIDENCES2138-40 N. Rockwell St.Chicago, IL 60647




$749,000 AERIAL VIEW

HIGHLIGHTS• Property Type: Land

• Lot Size: 3,557 SF

• Zoning: B2-3

• PIN: 13-36-202-050-0000

• 2017 Taxes: $4,479.27

• Transit Access: 0.5 miles fromCTA Blue Line, and 0.4 milesfrom CTA Bus Route #56

• Walk Score 95/100

• Transit Score 72/100

• Bike Score 82/100

2138 N. Rockwell St. is prime for redevelopment. Situated withinwalking distance of N. Milwaukee Ave., the subject property occupiesa triangular 3,557 SF lot, and has multiple points of accessibility.Conditional upon zoning, this site can support a new, multi-familydevelopment with attached garage spaces, front and rear balconies,in-unit washer and dryer, elevators, and a communal rooftop space.The buildings' projected build out would be one duplex down and asimplex units on each additional floor.

PROPERTY INFORMATION

2138-40 N. ROCKWELL ST., CHICAGO, IL 60647

Property Brochure




Property Name: Rockwell Residences

Property Type: Multifamily

APN: 13-36-202-050-0000

Lot Size: 0.08 AC

Building Size: 11,389 SF

Zoning: B2-3

Cross Streets: N. Rockwell St. & W. Shakespeare Ave.

Number of Stories: 4

Number of Units: 4

LOCATION OVERVIEW

The land site is located in Chicago's Logan Square

neighborhood, which has seen significant growth in

the last ten years. Family friendly plazas, playgrounds,

farmers market, and green faces have added to its

charm. The neighborhood has become popular with

young professionals and families. Rockwell St. runs

perpendicular to Milwaukee Ave., a major Chicago

thoroughfare. The property is within walking distance

from a diverse restaurant scene and walkable streets.

Milwaukee Avenue has consistently proven to be a

strong focal point among developers because of the

easy access to public transit and the 606 trail.

ROCKWELL RESIDENCESLOGAN SQUARE, CHICAGO, IL

Property Overview




2138-40 N. ROCKWELL ST., CHICAGO, IL 60647ROCKWELL RESIDENCES

Exterior 3-D Renderings





Basement Floor Plan





First Floor Plan





Second/Third Floor Plan





Fourth Floor Plan





Roof Plan





North Elevation





East Elevation





West Elevation





South West Elevation





Site Plan





Retailer Map





Location Maps




POPULATION 0.5 MILES 1 MILE 1.5 MILES

TOTAL POPULATION 18,152 63,518 136,810

MEDIAN AGE 30.5 30.8 31.2

MEDIAN AGE (MALE) 31.6 31.3 31.9

MEDIAN AGE (FEMALE) 29.4 30.7 31.0

HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILES

TOTAL HOUSEHOLDS 7,296 26,478 56,009

# OF PERSONS PER HH 2.5 2.4 2.4

AVERAGE HH INCOME $66,772 $76,277 $77,108

AVERAGE HOUSE VALUE $482,435 $479,470 $459,362

* Demographic data derived from 2010 US Census


Demographics Map

Property Pricing

Commission Schedule

Over the past year, 5M Real Estate has sold a number of similar land sites for redevelopment. Thesubject property presents an opportunity to investors as there is a large upside to newly constructedapartment buildings. There is a high demand for multi-family units in the area. However, the supply ofproperties as at a fair market price is relatively scarce. The surrounding area is comprised of a mix ofmulti-family and single-family homes. The majority of the sold comps we selected are in goodcondition, have ample square footage, and closed this year.

The biggest factors for land sites in this area are walk score, above-average median household income,above-average median home value, and upward population growth. Drawing upon comparableproperties on a per square foot basis, it is our opinion that the land will likely sell for $189 -$196 per square foot, or approximately $675,000 - $700,000. We would suggest marketing theproperty at $725,000 to test responsiveness and interest.

We appreciate the opportunity to submit a proposal of 5M Real Estate's disposition services. Ourknowledge of multi-family real estate coupled with our extensive market knowledge make 5M RealEstate the best and logical broker for this assignment.

If 5M Real Estate, Inc. is the sole broker, we would charge a brokerage fee of three and a half percent(3.5%) of the gross sale price.

If 5M Real Estate, Inc. cooperates with another broker, the fee would be four and half percent (4.5%)of the gross sale price.

We look forward to working with you on this endeavor.

The above-mentioned summary and analysis is the broker’s opinion only and should not be deemed an appraisal. All the information provided withrespect to the subject matter has been obtained from sources deemed reliable. No representation or warranty as to the accuracy thereof is made, andsuch information is submitted subject to change in price, omissions, errors, prior sale, or withdrawal without notice.


Conclusion




1016 W. Jackson BlvdChicago, IL 60607T 312.324.3557

[email protected]

IL #471.008247

PROFESSIONAL BACKGROUND

Mark J. Reiter is a Principal of 5M Real Estate, Inc., and Court Appointed Receiverin Cook County and the exclusive-listing broker to a robust portfolio of commercialand investment properties in the Chicagoland and greater Midwest. Mark hasrepresented financial institutions and private equity groups as Receiver in allproperty types including; retail, industrial, office, land, redevelopment, andmulti-family.

During his tenure as a broker, Mark has leased and sold more than 100 commercialfacilities as well as, representing numerous banks and private owners in the sale ofcommercial properties. Financial institutions Mark has worked with include; JPMorgan Chase, PNC Bank, US Bank, Wintrust Financial, Associated Bank,Suburban Bank and Trust, Parkway Bank and Beverly Bank.

Mark attended Northern Illinois University, earning both an MBA with aconcentration in Marketing as well as a BS in Marketing. Prior to founding 5M RE,INC. Mark was Vice President at a boutique real estate firm in Chicago, IL.

Outside of work, Mark is the co-founder of "Hop the Pond" a Chicago-basedcompany that caters to domestic/international students and graduates who wish tocome to Chicago to work and build their careers. He volunteers his time at ChicagoBulls College Prep coaching the defensive backs on the varsity football team and isinvolved in the Adult Literacy Program through the Salvation Army. Mark volunteersweekly as a tutor for math, reading, spelling, vocabulary and GED preparation formen in a substance abuse recovery program, along with his continued volunteeredwork at Old St. Patrick's Church.

MARK J. REITERPrincipal


Principal's Biography




1016 W. Jackson BlvdChicago, IL 60607T 312.324.3557

C 847.226.0879

[email protected]

IL #475.153240

PROFESSIONAL BACKGROUND

Paul Nelhart is the Director and a Broker of 5M Group. He started with the companyin October 2018 and has already made great strides in helping the advancement ofthe company. He is a leader in business development as he uses his interpersonal,communication, and presentation skills with his passionate desire to serve his clientsto his very best ability, allowing him to set himself apart from the competitors.

With over 15 years of real estate experience, Paul brings a creative andknowledgeable marketing process to the table. This is due to the fact that he is theFounder of Hudson Xander, which is a marketing firm based out of Chicago, andworked with a printing company for close to 20 years. He has seen all means ofadvertising and this ties in great with 5M's services.

Growing up and working throughout the Chicagoland area, Paul is very familiar withthe city and suburban neighborhoods. He went to Maine West High School andeventually ended up receiving his Certificate of Business Administration from theUniversity of Illinois-Chicago. Tying his childhood roots with his businessdevelopment, customer service and experience, Paul looks forward to continuing togrow 5M Group at a rapid pace.

PAUL NELHARTDIRECTOR


Broker's Biography

rockwell residences - loopnet · 2018. 12. 21. · property name: rockwell residences property...

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