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Page 1: TABLE OF CONTENTS - LoopNet › d2 › gr4gdMWpsHkF1... · TABLE OF CONTENTS CONFIDENTIALITY AND DISCLAIMER 3 EXECUTIVE SUMMARY 4 INVESTMENT OVERVIEW 5 ... donation center, martial
Page 2: TABLE OF CONTENTS - LoopNet › d2 › gr4gdMWpsHkF1... · TABLE OF CONTENTS CONFIDENTIALITY AND DISCLAIMER 3 EXECUTIVE SUMMARY 4 INVESTMENT OVERVIEW 5 ... donation center, martial

TABLE OF CONTENTS

CONFIDENTIALITY AND DISCLAIMER 3

EXECUTIVE SUMMARY 4

INVESTMENT OVERVIEW 5

WEST PULLMAN NEIGHBORHOOD 6

MAJOR RETAILERS 7

LOCAL AND AERIAL MAPS 8

REAL ESTATE TAXES 9

ASSESSTMENT HISTORY 10

ZONING MAP 11

FLOOR PLAN 12

PROPERTY PHOTOS 13-14

CONTACT INFORMATION 15

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CONFIDENTIALITY AND DISCLAIMER

The information contained in the following Offering Memorandum is proprietary andstrictly confidential. It is intended to be reviewed only by the party receiving it fromDOBREVA COMMERCIAL, INC. It should not be distributed to any other party without thewritten consent of DOBREVA COMMERCIAL, INC. This Offering Memorandum wasprepared to provide summary information which has not been verified and it should beused only to establish a preliminary level of interest in the subject property. The informationcontained herein is NOT a substitute for a thorough due diligence investigation. TheOffering Memorandum is subject to errors, omissions, prior sale, withdrawal, change and/ormodification without notice. DOBREVA COMMERCIAL, INC. has not made anyinvestigations, and makes no warranty or representation, with respect to the financialinformation for the subject property, the future financial performance of the subject property,the size and square footage of the property and the improvements, the presence or absenceof any contaminating substances, PCBs, asbestos, the compliance with Local, State andFederal regulations, the physical condition of the improvements thereon, or the financialcondition or business prospects of any tenant, or any tenant’s plans or intentions to continueits occupancy of the subject property. All estimates of market rents and/or projected rentsand pro-forma expenses that may be provided to a party do not necessarily mean that rentscan be established at or increased to that level or that the property can be operated at thatexpense level. Potential Buyers must evaluate any applicable contractual and governmentallimitations as well as market conditions, vacancy factors and other issues in order todetermine rents and expenses from or for the property.The information contained in this Offering Memorandum has been obtained from sourceswe believe to be reliable; however, DOBREVA COMMERCIAL, INC. has not verified, andwill not verify, any of the information contained herein, nor has DOBREVA COMMERCIAL,INC. conducted any investigations regarding these matters and makes no warranty orrepresentation whatsoever regarding the accuracy or completeness of the informationprovided. ALL POTENTIAL BUYERS MUST TAKE APPROPRIATE MEASURES TO VERIFYALL OF THE INFORMATION SET FORTH HEREIN. POTENTIAL BUYERS ASSUME ALLRISK OF ANY INACCURACIES OR INCONSISTENCIES. Legal questions should bediscussed with an attorney. Tax questions should be discussed with a certified publicaccountant or tax attorney. Title questions should be discussed with a title officer or attorney.Questions regarding the condition of the property and whether the property complies withapplicable governmental requirements should be discussed with appropriate engineers,architects, contractors, other consultants and governmental agencies.By accepting delivery of the Offering Memorandum, the recipient agrees that neither he/shenor any of his/her employees shall use the information for any purpose rather thanevaluating the specific transaction described herein, or divulge such information to any otherparty, and shall return the Offering Memorandum to DOBREVA COMMERCIAL, INC. uponrequest. This Offering Memorandum, in whole or in part, may not be photocopied,reproduced, or distributed to others without the prior written consent of DOBREVACOMMERCIAL, INC.

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EXECUTIVE SUMMARY

Asking Price: $469,000

Property Address: 435-59 W 115th St.,Chicago, IL 60628

Neighborhood: West Pullman

Property Type: Retail, Free Standing Building

Building Size (SF): 14,426

Land Area (SF): 29,908

Price/SF: $32.51

Basement: Partial, Unfinished

Notes: *In appeal process.

Year Built: 1935

Tax PIN: 25-21-308-028

2017 RE Taxes:* $48,543

Vacancy: 100%

Parking spaces: 21

Zoning: B3-1

Ward: 34th

Alderman: Carrie M Austin

TIF District: 107th/Halsted

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INVESTMENT OVERVIEW

DOBREVA COMMERCIAL, INC. is proud to present an excellent opportunity for an investor,owner-user or a developer to acquire a 14,426 square foot former Family Dollar store. Theproperty is located on busy 115th street, with traffic counts of 12,200 vehicles per day, inChicago’s fast developing neighborhood of West Pullman.

435-59 W 115th St., Chicago, IL 60628 is situated on approximately 29,908 square-foot site, has 21parking spaces, 110’ of frontage on 115th street, and pylon signage for additional exposure. Theinterior of the property consists of a wide-open heated retail/showroom area, privateoffice/security room, two ADA approved bathrooms, warehouse/storage area and a partialunfinished basement.

The building is ideal for a neighborhood grocery store, laundromat, shopping center, Dollarstore, community center, medical facility, banquet hall, donation center, martial arts studio, gym,pet store, and more. Zoning allows for construction of second floor apartments.*

The property is located within blocks of restaurants, shopping, banking and publictransportation.

This offering represents a unique opportunity to acquire a medium size free standing retailproperty with a parking lot and large frontage, located in a dense area near major retailers suchas Walgreens, Dunkin Donuts, Aldi, Chase, AutoZone and McDonalds.

INVESTMENT HIGHLIGHTS

❖ 14,426 SF free standing building.❖ 29,908 SF site.❖ Former Family Dollar store.❖ Parking lot for 21 vehicles.❖ Offered at $469,000, sold “as-is”.❖ TIF District: 107th/Halsted❖ B3-1, Community Shopping District.❖ Solid brick structure.❖ Wide-open heated retail/showroom area, private office/security room, two ADA approved

bathrooms, warehouse/storage area and a partial unfinished basement.❖ Located a few blocks away from busy Halsted St/115th street intersection, near major

retailers such as Walgreens, Dunkin Donuts, Aldi, AutoZone, McDonalds, restaurants,shopping, banking and public transportation.

*Notes: Buyer must verify zoning and use with the city of Chicago..

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WEST PULLMAN NEIGHBORHOOD

West Pullman is a neighborhood located on the far south side of the city of Chicago, Illinois. It is oneof the 77 official community areas of Chicago. It is bounded on the north by 115th Street, on the eastby the former Illinois Central Railroad, on the south by the Calumet River and Riverdale, on the westby Calumet Park, Blue Island and Ashland Avenue.

It is home to the largest urban photovoltaic solar plant in the United States. The 10 MW plant utilizes32,800 SunPower solar panels, spans 39 acres (160,000 m2), and generates enough power to supplyenergy to approximately 1500 homes in the Midwest. It is owned and operated by Exelon and cameonline in early 2010.

West Pullman Park totals 15.64 acres and features an indoor swimming pool, two gymnasiums andmulti-purpose clubrooms. A green feature of the park includes a natural savanna area. Outside, thepark offers tennis/ basketball courts, baseball/softball fields, playground, and spray pool.

The Metra Electric line provides commuter rail service at the Blue Island branch; Racine, State Street,Stewart Ridge, and West Pullman.

West Pullman is a tight knit community with several assets that make it a valuable place to live for itsproud residents:➢ Plentiful transportation options, including easy access to Metra, I-57 and I-94.➢ Strong network of block clubs, churches and community groups.➢ Solid, diverse housing stock and an excellent rate of homeownership (60%+).➢ A selection of seven elementary schools with good performance levels.➢ City investments in Park Districts programming, walking and biking paths and new public library.➢ Recent private investments such as the Salvation Army Kroc Community Center (the largest

community center in Illinois!), Exelon Solar Farm (the largest urban solar plant in the U.S!) andMarshfield Plaza (with brand-name shopping options).

Demographic Information

Population 1 Mile 3 Mile 5 Mile

2018 Total Population: 31,285 175,012 446,158

2023 Population: 31,394 175,826 446,225

Pop Growth 2018-2023: 0.35% 0.47% 0.02%

Average Age: 37.6 38.3 38.6

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MAJOR RETAILERS

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LOCAL AND AERIAL MAPS

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REAL ESTATE TAXES

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ASSESSMENT HISTORY

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ZONING MAP

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FLOOR PLAN

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PROPERTY PHOTOS

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PROPERTY PHOTOS

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Anna DobrevaManaging Broker, PrincipalDobreva Commercial, Inc. 6252 N Lincoln Ave, Unit 2Chicago, IL 60659Cell: (312) 388-1818Fax: (312) [email protected]

CONTACT INFORMATION

VALUE. INTEGRITY. EXPERIENCE.

➢ 13+ Years of Experience in Commercial Real Estate.

➢ Over 700 Properties Sold in Chicagoland Area.

➢ Excellent Service, Team Work and Impeccable Core Values.

➢ Bringing Value, Integrity, and Experience to Every Transaction.

➢ Chicago Association of Realtors Top Producer.

➢ Member of Urban Land Institute, CREW Chicago,

CCIM IL Chapter, ICSC, REIA, CAR & NAR.