Rev. 1/24/11
FIVE GUYS Burgers & Fries 1115 Lake Street Oak Park, IL 60301 PROPERTY PROFILE
Tenant: Location:
1115 Lake Street Oak Park, IL 60301
Building Size
5,262 sq. ft.
Land Size:
2,502 sq. ft.
Price:
$1,450,000
Purchase Cap:
7.25%
Escalations
12.5% every 5 years
Current Rent
$105,000
Build-Out Completed:
October 2008
Rent Commencement:
November 17, 2008
Rent Schedule:
PRIMARY TERM
OPTIONS RENT
Nov. 17, 2008 - Nov. 16, 2013
$105,000.00
Nov. 17, 2018 - Nov. 25, 2023
$132,890.63
Nov. 17, 2013 - Nov. 16, 2018
$118,125.00
Nov. 17, 2023 - Nov. 16, 2028
$149,501.95
Lease Overview:
NNN Lease with Ten (10) year initial lease terms with two (2) five - (5) year options. Rent increases of 12.5% every fifth year of the lease. Corporate Guaranty !
Tenant Overview:
Five Guys is a gourmet burger shop which prides itself on its fresh ingredients, customer service, free peanuts, and comfortable atmosphere. Founded in Arlington in 1986, Five Guys began significant expansion in 2003 at which time it also began offering fanchise opportunities. In just 18 months they had sold over 300 franchise units. Today, Five Guys now has over 700 units open in 30 states with over 1,200 in development and thousands of dedicated regulars.
Location Overview:
Oak Park is located only 9.5 miles west of heart of Chicago's downtown and one of Chicago’s most affluent and historic western suburbs; known for its Frank Lloyd Wright architecture and famous son Ernest Hemingway. Oak Park has a population of over 50,000 and a median family income of over $105,000. The pedestrian friendly downtown is a local shopping and dining destination and that is why Five Guys decided to open their 1st Chicagoland store in Oak Park, IL. The popularity of this location has been followed by a second location in Lincoln Park’s Clybourn corridor . Today there are 12 Five Guys restaurants in the Chicagoland area.
More Information:
PreferredConsulting, Inc. R. Peter Giadla, CCIM 141 W. Jackson Blvd., 3540 Chicago, IL 60604 Phone: 312-327-2700 ext. 225 Fax: 312-896-5612 E-mail:
[email protected] MAP & AERIAL - FIVE GUYS
Traffic Count Map - Close Up Prepared by Robert Peter Giadla 5 Guys - Oak Park 1115 Lake St, Oak Park, IL 60301-1001 Ring: 1, 2, 3 Miles
Latitude: 41.888467 Longitude: -87.803637
Source: © 2010 MPSI Systems Inc. d.b.a. DataMetrix®
©2010 ESRI, MPSI
1/24/2011
Page 1 of 1
Community Summary Prepared by Robert Peter Giadla 5 Guys - Oak Park 1115 Lake St, Oak Park, IL 60301-1001 Ring: 1 mile radius
Latitude: 41.888467 Longitude: -87.803637
Summary
2000
2010
2015
Population
34,251
33,072
32,616
Households
16,533
16,072
15,855
7,789
7,341
7,113
Families Average Household Size
2.02
2.00
2.00
Owner Occupied HUs
8,672
8,336
8,193
Renter Occupied HUs
7,861
7,736
7,662
37.2
39.3
38.8
17,143
17,243
17,213
Median Age Total Housing Units Vacant Housing Units
610
1,171
1,358
Average Home Value
$256,565
$334,500
$390,950
2000 Households by Income
2010
2015
Number
Percent
Number
Percent
Number
Percent
< $15,000
1,704
10.3%
1,379
8.6%
940
5.9%
$15,000 - $24,999
1,419
8.6%
1,057
6.6%
748
4.7%
$25,000 - $34,999
1,945
11.8%
1,352
8.4%
1,009
6.4%
$35,000 - $49,999
2,748
16.6%
2,374
14.8%
1,690
10.7%
$50,000 - $74,999
3,107
18.8%
3,241
20.2%
3,540
22.3%
$75,000 - $99,999
1,827
11.0%
2,533
15.8%
2,083
13.1%
$100,000 - $149,999
1,570
9.5%
1,739
10.8%
2,593
16.4%
$150,000 - $199,000
857
5.2%
801
5.0%
1,215
7.7%
1,372
8.3%
1,597
9.9%
2,039
12.9%
$200,000+ Median Household Income
$52,908
$63,664
$75,013
Average Household Income
$81,880
$93,925
$112,806
Per Capita Income
$40,355
$46,365
$55,697
2000 Population by Age
2010
2015
Number
Percent
Number
Percent
Number
Percent
0-4
2,057
6.0%
1,804
5.5%
1,761
5.4%
5 - 14
3,926
11.5%
3,429
10.4%
3,181
9.8%
15 - 19
1,679
4.9%
1,941
5.9%
1,808
5.5%
20 - 24
1,983
5.8%
2,628
7.9%
2,453
7.5%
25 - 34
6,139
17.9%
4,853
14.7%
5,788
17.7%
35 - 44
6,090
17.8%
4,569
13.8%
3,699
11.3%
45 - 54
5,315
15.5%
5,296
16.0%
4,667
14.3%
55 - 64
2,739
8.0%
4,214
12.7%
4,347
13.3%
65 - 74
1,908
5.6%
2,010
6.1%
2,682
8.2%
75 - 84
1,675
4.9%
1,457
4.4%
1,403
4.3%
741
2.2%
869
2.6%
824
2.5%
Number
Percent
Number
Percent
Number
Percent
White Alone
24,774
72.3%
23,230
70.2%
22,768
69.8%
Black Alone
6,358
18.6%
5,863
17.7%
5,465
16.8%
42
0.1%
55
0.2%
58
0.2%
1,702
5.0%
2,126
6.4%
2,326
7.1%
16
0.0%
24
0.1%
24
0.1%
Some Other Race Alone
504
1.5%
716
2.2%
833
2.6%
Two or More Races
855
2.5%
1,059
3.2%
1,143
3.5%
1,567
4.6%
2,317
7.0%
2,713
8.3%
85+
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone
Hispanic Origin (Any Race)
-
2010
2015
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and 2015 were effective as of July 1, 2010. Copyright 2010, all rights reserved.
©2010 ESRI
1/24/2011
Page 1 of 1
Community Summary Prepared by Robert Peter Giadla 5 Guys - Oak Park 1115 Lake St, Oak Park, IL 60301-1001 Ring: 2 miles radius
Latitude: 41.888467 Longitude: -87.803637
Summary
2000
2010
2015
123,702
119,621
118,110
Households
49,460
47,976
47,333
Families
29,520
27,973
27,226
Population
Average Household Size
2.46
2.44
2.44
Owner Occupied HUs
27,781
26,474
26,064
Renter Occupied HUs
21,679
21,503
21,270
35.1
36.7
36.2
51,490
52,258
52,330
Median Age Total Housing Units Vacant Housing Units
2,030
4,281
4,996
Average Home Value
$223,517
$294,550
$341,271
2000 Households by Income
2010
2015
Number
Percent
Number
Percent
Number
Percent
< $15,000
6,258
12.6%
4,744
9.9%
3,407
7.2%
$15,000 - $24,999
4,636
9.4%
3,205
6.7%
2,350
5.0%
$25,000 - $34,999
5,583
11.3%
3,813
7.9%
2,892
6.1%
$35,000 - $49,999
7,766
15.7%
6,446
13.4%
5,051
10.7%
$50,000 - $74,999
9,672
19.5%
9,658
20.1%
10,072
21.3%
$75,000 - $99,999
5,624
11.4%
8,765
18.3%
7,226
15.3%
$100,000 - $149,999
5,218
10.5%
6,017
12.5%
9,107
19.2%
$150,000 - $199,000
2,149
4.3%
2,092
4.4%
2,988
6.3%
$200,000+
2,623
5.3%
3,237
6.7%
4,242
9.0%
Median Household Income
$51,023
$64,157
$74,649
Average Household Income
$72,004
$84,682
$100,163
Per Capita Income
$29,219
$34,242
$40,462
2000 Population by Age
2010
2015
Number
Percent
Number
Percent
Number
0-4
8,925
7.2%
8,170
6.8%
8,001
6.8%
5 - 14
18,029
14.6%
15,854
13.3%
15,255
12.9%
15 - 19
7,773
6.3%
8,329
7.0%
7,515
6.4%
20 - 24
7,414
6.0%
8,700
7.3%
8,604
7.3%
25 - 34
19,426
15.7%
16,142
13.5%
18,028
15.3%
35 - 44
20,753
16.8%
16,151
13.5%
13,822
11.7%
45 - 54
18,295
14.8%
18,102
15.1%
16,189
13.7%
55 - 64
9,871
8.0%
14,419
12.1%
14,868
12.6%
65 - 74
6,552
5.3%
7,085
5.9%
9,269
7.8%
75 - 84
4,692
3.8%
4,297
3.6%
4,283
3.6%
85+
1,973
1.6%
2,368
2.0%
2,279
1.9%
Number
Percent
Number
Percent
Number
Percent
White Alone
69,102
55.9%
64,995
54.3%
63,825
54.0%
Black Alone
43,131
34.9%
39,999
33.4%
38,188
32.3%
193
0.2%
243
0.2%
263
0.2%
4,300
3.5%
5,299
4.4%
5,754
4.9%
52
0.0%
77
0.1%
78
0.1%
Some Other Race Alone
4,009
3.2%
5,438
4.5%
6,137
5.2%
Two or More Races
2,915
2.4%
3,571
3.0%
3,865
3.3%
10,244
8.3%
14,161
11.8%
16,060
13.6%
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone
Hispanic Origin (Any Race)
-
2010
Percent
2015
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and 2015 were effective as of July 1, 2010. Copyright 2010, all rights reserved.
©2010 ESRI
1/24/2011
Page 1 of 1
Community Summary Prepared by Robert Peter Giadla 5 Guys - Oak Park 1115 Lake St, Oak Park, IL 60301-1001 Ring: 3 miles radius
Latitude: 41.888467 Longitude: -87.803637
Summary
2000
2010
2015
Population
316,142
310,849
307,543
Households
109,335
106,209
104,846
73,628
70,231
68,560
Families Average Household Size
2.86
2.88
2.89
Owner Occupied HUs
58,923
56,718
55,797
Renter Occupied HUs
50,412
49,491
49,048
32.5
33.4
33.4
115,139
117,274
117,670
Median Age Total Housing Units Vacant Housing Units
5,804
11,065
12,825
Average Home Value
$181,892
$236,335
$274,299
2000 Households by Income
2010
2015
Number
Percent
Number
Percent
Number
Percent
< $15,000
16,415
15.0%
12,072
11.4%
8,921
8.5%
$15,000 - $24,999
12,650
11.6%
8,223
7.7%
6,245
6.0%
$25,000 - $34,999
13,735
12.6%
8,858
8.3%
7,019
6.7%
$35,000 - $49,999
18,540
17.0%
15,998
15.1%
12,821
12.2%
$50,000 - $74,999
21,906
20.1%
22,487
21.2%
24,253
23.1%
$75,000 - $99,999
11,196
10.3%
20,292
19.1%
17,225
16.4%
$100,000 - $149,999
8,783
8.0%
10,823
10.2%
17,674
16.9%
$150,000 - $199,000
2,826
2.6%
3,362
3.2%
5,183
4.9%
$200,000+
3,087
2.8%
4,095
3.9%
5,505
5.3%
Median Household Income
$43,897
$57,949
$65,875
Average Household Income
$59,262
$72,280
$84,712
Per Capita Income
$20,719
$24,951
$29,173
2000 Population by Age
2010
2015
Number
Percent
Number
Percent
Number
0-4
25,066
7.9%
24,674
7.9%
24,427
7.9%
5 - 14
51,361
16.2%
46,124
14.8%
45,935
14.9%
15 - 19
22,882
7.2%
23,615
7.6%
20,606
6.7%
20 - 24
22,316
7.1%
23,394
7.5%
23,689
7.7%
25 - 34
48,629
15.4%
44,267
14.2%
45,931
14.9%
35 - 44
48,653
15.4%
40,921
13.2%
37,861
12.3%
45 - 54
40,551
12.8%
41,918
13.5%
37,645
12.2%
55 - 64
24,924
7.9%
32,959
10.6%
34,691
11.3%
65 - 74
16,694
5.3%
17,748
5.7%
21,725
7.1%
75 - 84
11,005
3.5%
10,229
3.3%
10,223
3.3%
4,061
1.3%
4,998
1.6%
4,808
1.6%
Number
Percent
Number
Percent
Number
Percent
White Alone
134,671
42.6%
127,309
41.0%
124,363
40.4%
Black Alone
139,372
44.1%
131,959
42.5%
128,028
41.6%
758
0.2%
910
0.3%
968
0.3%
7,032
2.2%
8,263
2.7%
8,777
2.9%
106
0.0%
144
0.0%
147
0.0%
27,082
8.6%
33,743
10.9%
36,174
11.8%
85+
2000 Race and Ethnicity
American Indian Alone Asian Alone Pacific Islander Alone Some Other Race Alone Two or More Races Hispanic Origin (Any Race)
-
2010
Percent
2015
7,122
2.3%
8,520
2.7%
9,085
3.0%
57,662
18.2%
71,937
23.1%
77,312
25.1%
Data Note: Income is expressed in current dollars. Source: U.S. Bureau of the Census, 2000 Census of Population and Housing. ESRI forecasts for 2010 and 2015 were effective as of July 1, 2010. Copyright 2010, all rights reserved.
©2010 ESRI
1/24/2011
Page 1 of 1