4653 West Higgins Road Hoffman Estates, IL 60195
E X C L U S I V E
S I N G L E - T E N A N T
O F F E R I N G
F IFTH T HIRD B ANK (G ROUND L EASE ) 4653 West Higgins Road Hoffman Estates, IL 60195
INVESTMENT HIGHLIGHTS
OFFERING SUMMARY Price
$2,428,000
Initial 20-Year, Absolute NNN Ground Lease- Fifth Third Bank
Down Payment
10 Percent Rental Increase in Less Then Two Years (2012 CAP = 7.70 Percent)
Rentable SF
4,114
Price Per SF
$590.18
Average Household Income of $296,577 Within a One-Mile Radius Positioned Directly off Interstate 90, Approximately 30 miles Northwest of Downtown Chicago
Close Proximity to Sears Holdings Corporation World Headquarters
Out-Parcel to Target Power Center, Located in Retail Epicenter of Wealthy Chicago Northwest Suburbs
Four Five-Year Options to Extend the Initial Lease Term
Year Built Lot Size
2006 1.26 Acres
Cap Rate
7.00%
Total Return
7.00%
LEASE SUMMARY Lease Commencement Date Rent Commencement Date Lease Expiration Date Lease Type Lease Term Increases Options
Offices Nationwide
(100%) $2,428,000
Exclusively Listed by: 9/8/2005 12/11/2006 December 31, 2026 Ground Lease 20 Years
GREG MOYER, SEAN SHARKO, & AUSTIN WEISENBECK Tel: (773) 867-1500 Fax: (773) 867-1510 [email protected]
10% Every 5 Years Four Five-Year Options
L i s t i n g O f f i c e : 8 7 5 0 W e s t B r yn M a w r Av e n u e , S u i t e 6 5 0 Chicago, IL 60631 • Tel: (773) 867-1500 Fax: (773) 867-1510
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. © 2010 Marcus & Millichap (Activity ID: R0150025 Property ID: 1626264)
4653 WEST HIGGINS RO AD • HOFFM AN ESTATES, IL 60195 OPERATING DATA Rent Increases
Annual Rent
Monthly Rent
Years 1-5 Years 6-10 Years 11-15 Years 16-20 First Option Second Option Third Option Fourth Option
$170,000.00 $187,000.00 $205,700.00 $226,270.00 $248,897.00 $273,787.00 $301,165.00 $331,282.00
$14,166.67 $15,583.33 $17,141.67 $18,855.83 $20,741.42 $22,815.58 $25,097.08 $27,606.83
Base Rent ($41.32/SF) Net Operating Income Total Return
$170,000 $170,000 7.00% $170,000
INVESTMENT OVERVIEW By acceptance of this Marketing Brochure, recipient agrees to keep and maintain the confidentiality of the information contained herein. Marcus & Millichap is pleased to offer this ground lease opportunity with Fifth Third Bank in Hoffman Estates, Illinois. Hoffman Estates is a wealthy northwest suburb of Chicago, primarily located in Cook County with a small section positioned in Kane County. Fifth Third Bank is operating under a 20-year, absolute NNN ground lease (zero landlord responsibility), with over 16 years remaining on the initial lease term. There are 10 percent rental increases every five years as well as in each option period. The next increase occurs on 1/1/2012.
Listing Office: 8750 West Bryn Mawr Avenue Suite 650 Chicago, IL 60631 Tel: (773) 867-1500 Fax: (773) 867-1510 www.marcusmillichap.com
The subject property is an out-parcel to a newer (2006 construction) Target anchored retail power center development. Other tenants in the development include; OfficeMax, PetSmart, TJ Maxx, Michael's, Citibank, Buffalo Wild Wings, Jimmy John's, and others. Directly west of the subject property is Sears Holdings Corporation World Headquarters, which helps drive traffic flow to the immediate area.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. © 2010 Marcus & Millichap (Activity ID: R0150025 Property ID: 1626264)
S I N G L E - T E N A N T
O F F E R I N G
F IFTH T HIRD B ANK (G ROUND L EASE ) 4653 West Higgins Road Hoffman Estates, IL 60195
INVESTMENT HIGHLIGHTS
OFFERING SUMMARY Price
$2,428,000
Initial 20-Year, Absolute NNN Ground Lease- Fifth Third Bank
Down Payment
10 Percent Rental Increase in Less Then Two Years (2012 CAP = 7.70 Percent)
Rentable SF
4,114
Price Per SF
$590.18
Average Household Income of $296,577 Within a One-Mile Radius Positioned Directly off Interstate 90, Approximately 30 miles Northwest of Downtown Chicago
Close Proximity to Sears Holdings Corporation World Headquarters
Out-Parcel to Target Power Center, Located in Retail Epicenter of Wealthy Chicago Northwest Suburbs
Four Five-Year Options to Extend the Initial Lease Term
Year Built Lot Size
2006 1.26 Acres
Cap Rate
7.00%
Total Return
7.00%
LEASE SUMMARY Lease Commencement Date Rent Commencement Date Lease Expiration Date Lease Type Lease Term Increases Options
Offices Nationwide
(100%) $2,428,000
Exclusively Listed by: 9/8/2005 12/11/2006 December 31, 2026 Ground Lease 20 Years
GREG MOYER, SEAN SHARKO, & AUSTIN WEISENBECK Tel: (773) 867-1500 Fax: (773) 867-1510 [email protected]
10% Every 5 Years Four Five-Year Options
L i s t i n g O f f i c e : 8 7 5 0 W e s t B r yn M a w r Av e n u e , S u i t e 6 5 0 Chicago, IL 60631 • Tel: (773) 867-1500 Fax: (773) 867-1510
www.marcusmillichap.com
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. © 2010 Marcus & Millichap (Activity ID: R0150025 Property ID: 1626264)
4653 WEST HIGGINS RO AD • HOFFM AN ESTATES, IL 60195 OPERATING DATA Rent Increases
Annual Rent
Monthly Rent
Years 1-5 Years 6-10 Years 11-15 Years 16-20 First Option Second Option Third Option Fourth Option
$170,000.00 $187,000.00 $205,700.00 $226,270.00 $248,897.00 $273,787.00 $301,165.00 $331,282.00
$14,166.67 $15,583.33 $17,141.67 $18,855.83 $20,741.42 $22,815.58 $25,097.08 $27,606.83
Base Rent ($41.32/SF) Net Operating Income Total Return
$170,000 $170,000 7.00% $170,000
INVESTMENT OVERVIEW By acceptance of this Marketing Brochure, recipient agrees to keep and maintain the confidentiality of the information contained herein. Marcus & Millichap is pleased to offer this ground lease opportunity with Fifth Third Bank in Hoffman Estates, Illinois. Hoffman Estates is a wealthy northwest suburb of Chicago, primarily located in Cook County with a small section positioned in Kane County. Fifth Third Bank is operating under a 20-year, absolute NNN ground lease (zero landlord responsibility), with over 16 years remaining on the initial lease term. There are 10 percent rental increases every five years as well as in each option period. The next increase occurs on 1/1/2012.
Listing Office: 8750 West Bryn Mawr Avenue Suite 650 Chicago, IL 60631 Tel: (773) 867-1500 Fax: (773) 867-1510 www.marcusmillichap.com
The subject property is an out-parcel to a newer (2006 construction) Target anchored retail power center development. Other tenants in the development include; OfficeMax, PetSmart, TJ Maxx, Michael's, Citibank, Buffalo Wild Wings, Jimmy John's, and others. Directly west of the subject property is Sears Holdings Corporation World Headquarters, which helps drive traffic flow to the immediate area.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services of Chicago, Inc. © 2010 Marcus & Millichap (Activity ID: R0150025 Property ID: 1626264)
