OFFERING MEMORANDUM
OFFERING MEMORANDUM
2900 Ogden Avenue Lisle, Illinois
Suburban Real Estate Services, Inc.
2900 Ogden Avenue
TABLE OF CONTENTS
Introduction....................................................................................
Executive Summary.......................................................................... II
Investment Opportunity............................................................. III
The Property....................................................................................... IV
I
ue Aven n e d Og
©SRESI 2015. All Rights Reserved. Reproduction, adaptation or translation of this material is prohibited without prior written permission of Suburban Real Estate Services, Inc.
Introduction STATEMENT OF CONFIDENTIALITY
SECTION 1.1
The material contained in this Offering Memorandum is confidential. It is furnished solely in consideration of an investment in 2900 Ogden Avenue, Lisle, Illinois (the “Property”). It is not to be used for any other purpose or made available to any other person without the express written consent of Suburban Real Estate Services, Inc. (“Suburban”). This Offering Memorandum and the contents, except information that is a matter of public record or is provided in sources available to the public, are confidential. By accepting this Offering Memorandum you agree to hold and treat it in the strictest confidence. You will not photocopy, duplicate, or disclose this Offering Memorandum or any of the contents to any other entity, including outside advisors, without the prior written authorization of Suburban, and you will not use the Offering Memorandum or any of its contents in any manner other than its intended purpose.
LIMITING CONDITIONS
SECTION 1.2
This Offering Memorandum has been prepared by Suburban for use by a limited number of parties and does not propose to provide an exhaustive summary of the Property or any of the documents related thereto, nor does it purpose to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projects have been developed by Suburban and designated sources, and are based upon assumptions relating to the general economy, competition and other factors beyond the control of Suburban. Although the information contained herein is believed to be accurate, Suburban disclaims any and all responsibility for inaccuracies, and expects prospective investors to exercise independent due diligence in verifying all such information. This Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Offering Memorandum. Analysis and verification of the information contained in this Offering Memorandum is solely the responsibility of the prospective investor. Suburban expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any entity at any time with or without notice or cause. Suburban shall have not legal commitment or obligations to any entity reviewing this Offering Memorandum or making an offer to invest, unless and until such offer is approved by Owner, a Purchase and Sale Agreement has been fully executed, delivered, and approved by Owner and its legal and financial counsel, and any conditions to Suburban’s obligations thereunder have been satisfied or waived. Suburban disclaims any and all liability for representations and warranties, expressed or implied, contained in, or for omission from, the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. No warranty or representation, express, or implied, is made as to the accuracy or completeness of the information contained herein. Prospective investors should make independent investigations, projections and conclusions. No representations, expressed or implied, are made to the matters contained herein.
2900 Ogden Avenue Page 2
Executive Summary
ASKING PRICE $950,000 ($22.80/s.f.)
HIGHLIGHTS • Located in the heart of Chicago’s East-West Corridor • Great proximity to major roadways including North/South I-355 and East/West I-88 • Easily identifiable location • Blocks from strong retail corridor including many restaurants • Abundant parking • Functional building with many opportunities to add value
2900 Ogden Avenue Page 3
The Opportunity THE OPPORTUNITY
SECTION 3.1
Suburban is offering an excellent opportunity for an owner/user or an investor looking to purchase a value-add property 2900 Ogden Avenue is located in Lisle, Illinois, the heart of Chicago’s East-West Corridor. 2900 Ogden Avenue is a 41,668 rentable square foot, two story office building that offers: • • • • • • •
Located in the heart of Chicago’s East-West Corridor Easy access to major roadways including North/South I-355 and East/West I-88 Easily identifiable location Blocks from strong retail corridor including many restaurants Abundant parking Proximate to strong corporate users Functional building with many opportunities to add value
Along with the great access to the I-355 and I-88 Tollways, the property’s location offers many other benefits to an owner as well as tenants. This property is positioned in the heart of a major transportation network including airports, interstates, rail and bus services. The location also boasts great proximity to downtown Chicago, being just 25 miles west making the Lisle/Naperville submarket desirable for small, mid-sized and larger corporate users. The area enjoys the benefits of being close to the city without paying the high Cook county taxes as it is located in DuPage County.
2900 Ogden Avenue Page 4
The Property LOCATION OVERVIEW
The location of 2900 Ogden Avenue offers great accessibility to Chicagoland’s major tollways. Lisle is situated in the heart of a major transportation network which includes five (5) airports, interstates, rail and bus service. This infrastructure helps support the continued success of the Lisle/Naperville area. This area is ideal for companies looking to grow and succeed. This has been made evident by the number of large corporate users in close proximity. In addition to a strong list of corporate neighbors, the surrounding area also offers an abundance of restaurants, lodging and retail venues.
Select Area Amenities
• • • • •
Restaurants Morton’s Steak House Maggiano’s White Chocolate Grill Cooper’s Hawk Granite City Brewery
Lodging • Hyatt Lisle/Naperville • Hilton Lisle/Naperville • Chicago Marriott Naperville • Sheraton Lisle
Retail • Yorktown Shopping Center • Downtown Naperville • Freedom Commons
2900 Ogden Avenue Page 5
SECTION 4.1
The Property Continued
OVERVIEW
SECTION 4.2
2900 Ogden Avenue is located in Lisle, Illinois, just east of the Naperville Road & I-88 interchange. The property is highly visible and accessible,
PROPERTY FEATURES- 2900 O GDEN
SECTION 4.3
Select property features are highlighted below. Site Description:
One (1) two-story office building on a 6.17 acre site of which 3.26 acres are a vacant land parcel.
Net Rentable Area:
41,668 square feet.
Construction Date:
Built in 1966.
Structure:
The subject property is a two-story, built circa 1966, remodeled in 1990 with an addition in 1993, fully sprinklered, frame and stucco constructed office building containing a gross building area of 41,668+ square feet and a net rentable area of 40,786 square feet.
Interior:
There is a vestibule/stairwell in the center of the front and rear of the building. The main floor (1st) has a large open lobby, conference room, general office area and (2)break/coffee rooms. There are (2) common washrooms as well as (1) private washroom on this level. The lower level has (2) common washroom, mechanical rooms and attached garage (addition) with (1) drive-in door. The rear portion of the building lower level is at grade level.
Roof System:
Part pitched and part flat with composition cover.
HVAC:
Forced air with central air conditioning both exterior and roof mounted systems.
Plumbing:
Men’s and women’s washrooms on each floor.
Parking:
182 paved parking spaces at the front, side and rear of building.
Zoning:
B-2, Community Business District
Sprinkler:
Full coverage.
Electricity:
400 amp main with several distribution boxes for each floor.
Additional Features:
- Emergency lights - Hardwired fire alarm direct in station - Brick patio at rear of building
Real Estate Taxes:
$63,361.10 ($1.52 psf)
2900 Ogden Avenue Page 6
The Property Continued
FLOOR PLANS - Upper Level
2900 Ogden Avenue Page 7
SECTION 4.5
The Property Continued
FLOOR PLANS - Lower Level
2900 Ogden Avenue Page 8
SECTION 4.5
The Property BUILDING PHOTOGRAPHS
2900 Ogden Avenue Page 9
SECTION 4.6
Contact Information
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: James Dunn (630) 487-2119 [email protected] Donna Ballentine (630) 487-2117 [email protected] Suburban Real Estate Services, Inc. 4300 Commerce Court Suite 315 Lisle, IL 60532 Telephone: (630) 778-1800 www.suburbanrealestate.com
2900 Ogden Avenue Page 10
2900 Ogden Avenue Lisle, Illinois
Suburban Real Estate Services, Inc.
2900 Ogden Avenue
TABLE OF CONTENTS
Introduction....................................................................................
Executive Summary.......................................................................... II
Investment Opportunity............................................................. III
The Property....................................................................................... IV
I
ue Aven n e d Og
©SRESI 2015. All Rights Reserved. Reproduction, adaptation or translation of this material is prohibited without prior written permission of Suburban Real Estate Services, Inc.
Introduction STATEMENT OF CONFIDENTIALITY
SECTION 1.1
The material contained in this Offering Memorandum is confidential. It is furnished solely in consideration of an investment in 2900 Ogden Avenue, Lisle, Illinois (the “Property”). It is not to be used for any other purpose or made available to any other person without the express written consent of Suburban Real Estate Services, Inc. (“Suburban”). This Offering Memorandum and the contents, except information that is a matter of public record or is provided in sources available to the public, are confidential. By accepting this Offering Memorandum you agree to hold and treat it in the strictest confidence. You will not photocopy, duplicate, or disclose this Offering Memorandum or any of the contents to any other entity, including outside advisors, without the prior written authorization of Suburban, and you will not use the Offering Memorandum or any of its contents in any manner other than its intended purpose.
LIMITING CONDITIONS
SECTION 1.2
This Offering Memorandum has been prepared by Suburban for use by a limited number of parties and does not propose to provide an exhaustive summary of the Property or any of the documents related thereto, nor does it purpose to be all-inclusive or to contain all of the information which prospective investors may need or desire. All projects have been developed by Suburban and designated sources, and are based upon assumptions relating to the general economy, competition and other factors beyond the control of Suburban. Although the information contained herein is believed to be accurate, Suburban disclaims any and all responsibility for inaccuracies, and expects prospective investors to exercise independent due diligence in verifying all such information. This Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property or the Owner since the date of preparation of this Offering Memorandum. Analysis and verification of the information contained in this Offering Memorandum is solely the responsibility of the prospective investor. Suburban expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers regarding the Property, and/or terminate discussions with any entity at any time with or without notice or cause. Suburban shall have not legal commitment or obligations to any entity reviewing this Offering Memorandum or making an offer to invest, unless and until such offer is approved by Owner, a Purchase and Sale Agreement has been fully executed, delivered, and approved by Owner and its legal and financial counsel, and any conditions to Suburban’s obligations thereunder have been satisfied or waived. Suburban disclaims any and all liability for representations and warranties, expressed or implied, contained in, or for omission from, the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. No warranty or representation, express, or implied, is made as to the accuracy or completeness of the information contained herein. Prospective investors should make independent investigations, projections and conclusions. No representations, expressed or implied, are made to the matters contained herein.
2900 Ogden Avenue Page 2
Executive Summary
ASKING PRICE $950,000 ($22.80/s.f.)
HIGHLIGHTS • Located in the heart of Chicago’s East-West Corridor • Great proximity to major roadways including North/South I-355 and East/West I-88 • Easily identifiable location • Blocks from strong retail corridor including many restaurants • Abundant parking • Functional building with many opportunities to add value
2900 Ogden Avenue Page 3
The Opportunity THE OPPORTUNITY
SECTION 3.1
Suburban is offering an excellent opportunity for an owner/user or an investor looking to purchase a value-add property 2900 Ogden Avenue is located in Lisle, Illinois, the heart of Chicago’s East-West Corridor. 2900 Ogden Avenue is a 41,668 rentable square foot, two story office building that offers: • • • • • • •
Located in the heart of Chicago’s East-West Corridor Easy access to major roadways including North/South I-355 and East/West I-88 Easily identifiable location Blocks from strong retail corridor including many restaurants Abundant parking Proximate to strong corporate users Functional building with many opportunities to add value
Along with the great access to the I-355 and I-88 Tollways, the property’s location offers many other benefits to an owner as well as tenants. This property is positioned in the heart of a major transportation network including airports, interstates, rail and bus services. The location also boasts great proximity to downtown Chicago, being just 25 miles west making the Lisle/Naperville submarket desirable for small, mid-sized and larger corporate users. The area enjoys the benefits of being close to the city without paying the high Cook county taxes as it is located in DuPage County.
2900 Ogden Avenue Page 4
The Property LOCATION OVERVIEW
The location of 2900 Ogden Avenue offers great accessibility to Chicagoland’s major tollways. Lisle is situated in the heart of a major transportation network which includes five (5) airports, interstates, rail and bus service. This infrastructure helps support the continued success of the Lisle/Naperville area. This area is ideal for companies looking to grow and succeed. This has been made evident by the number of large corporate users in close proximity. In addition to a strong list of corporate neighbors, the surrounding area also offers an abundance of restaurants, lodging and retail venues.
Select Area Amenities
• • • • •
Restaurants Morton’s Steak House Maggiano’s White Chocolate Grill Cooper’s Hawk Granite City Brewery
Lodging • Hyatt Lisle/Naperville • Hilton Lisle/Naperville • Chicago Marriott Naperville • Sheraton Lisle
Retail • Yorktown Shopping Center • Downtown Naperville • Freedom Commons
2900 Ogden Avenue Page 5
SECTION 4.1
The Property Continued
OVERVIEW
SECTION 4.2
2900 Ogden Avenue is located in Lisle, Illinois, just east of the Naperville Road & I-88 interchange. The property is highly visible and accessible,
PROPERTY FEATURES- 2900 O GDEN
SECTION 4.3
Select property features are highlighted below. Site Description:
One (1) two-story office building on a 6.17 acre site of which 3.26 acres are a vacant land parcel.
Net Rentable Area:
41,668 square feet.
Construction Date:
Built in 1966.
Structure:
The subject property is a two-story, built circa 1966, remodeled in 1990 with an addition in 1993, fully sprinklered, frame and stucco constructed office building containing a gross building area of 41,668+ square feet and a net rentable area of 40,786 square feet.
Interior:
There is a vestibule/stairwell in the center of the front and rear of the building. The main floor (1st) has a large open lobby, conference room, general office area and (2)break/coffee rooms. There are (2) common washrooms as well as (1) private washroom on this level. The lower level has (2) common washroom, mechanical rooms and attached garage (addition) with (1) drive-in door. The rear portion of the building lower level is at grade level.
Roof System:
Part pitched and part flat with composition cover.
HVAC:
Forced air with central air conditioning both exterior and roof mounted systems.
Plumbing:
Men’s and women’s washrooms on each floor.
Parking:
182 paved parking spaces at the front, side and rear of building.
Zoning:
B-2, Community Business District
Sprinkler:
Full coverage.
Electricity:
400 amp main with several distribution boxes for each floor.
Additional Features:
- Emergency lights - Hardwired fire alarm direct in station - Brick patio at rear of building
Real Estate Taxes:
$63,361.10 ($1.52 psf)
2900 Ogden Avenue Page 6
The Property Continued
FLOOR PLANS - Upper Level
2900 Ogden Avenue Page 7
SECTION 4.5
The Property Continued
FLOOR PLANS - Lower Level
2900 Ogden Avenue Page 8
SECTION 4.5
The Property BUILDING PHOTOGRAPHS
2900 Ogden Avenue Page 9
SECTION 4.6
Contact Information
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: James Dunn (630) 487-2119 [email protected] Donna Ballentine (630) 487-2117 [email protected] Suburban Real Estate Services, Inc. 4300 Commerce Court Suite 315 Lisle, IL 60532 Telephone: (630) 778-1800 www.suburbanrealestate.com
2900 Ogden Avenue Page 10
