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KW COMMERCIAL45 S. Park, Suite 300Glen Ellyn, IL 60137 CJ MCCANN
Broker0: 630.984.4701C: [email protected]
110 Concord Dr
OFFERING MEMORANDUM
PRESENTED BY:
MELROSE PARK, IL
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 2
KW COMMERCIAL
45 S. Park, Suite 300
Glen Ellyn, IL 60137
Confidentiality & Disclaimer
CJ MCCANNBroker0: 630.984.4701C: [email protected]
All materials and information received or derived from KW Commercial its directors, officers, agents, advisors, affiliates and/or any third party sourcesare provided without representation or warranty as to completeness , veracity, or accuracy, condition of the property, compliance or lack of compliancewith applicable governmental requirements, developability or suitability, financial performance of the property, projected financial performance of theproperty for any party’s intended use or any and all other matters.
Neither KW Commercial its directors, officers, agents, advisors, or affiliates makes any representation or warranty, express or implied, as to accuracy orcompleteness of the materials or information provided, derived, or received. Materials and information from any source, whether written or verbal, thatmay be furnished for review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. KW Commercial will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed inwriting.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their own inspections andinvestigations including through appropriate third party independent professionals selected by such party. All financial data should be verified by theparty including by obtaining and reading applicable documents and reports and consulting appropriate independent professionals. KW Commercialmakes no warranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercialdoes not serve as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ from actual data orperformance. Any estimates of market rents and/or projected rents that may be provided to a party do not necessarily mean that rents can beestablished at or increased to that level. Parties must evaluate any applicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or for the property. Legal questions should be discussed by the party withan attorney. Tax questions should be discussed by the party with a certified public accountant or tax attorney. Title questions should be discussed by theparty with a title officer or attorney. Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants and governmental agencies. Allproperties and services are marketed by Glen Ellyn, IL in compliance with all applicable fair housing and equal opportunity laws.
We obtained the information above from sources we believe to be reliable. However, we have not verified its accuracy and make no guarantee, warranty or representation about it. Itis submitted subject to the possibility of errors, omissions, change of price, rental or other conditions, prior sale, lease or financing, or withdrawal without notice. We includeprojections, opinions, assumptions or estimates for example only, and they may not represent current or future performance of the property. You and your tax and legal advisorsshould conduct your own investigation of the property and transaction.
OFFERING MEMORANDUM
PRESENTED BY:
MELROSE PARK, IL
PROPERTY INFORMATION
1 | PROPERTY INFORMATION
EXECUTIVE SUMMARY
PROPERTY DETAILS
ADDITIONAL PHOTOS
1PROPERTY INFORMATION110 CONCORD DR
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 4
OFFERING SUMMARY
SALE PRICE: $675,000
NUMBER OF UNITS: 6
CAP RATE: 7.19%
NOI: $48,518
LOT SIZE: 0.11 Acres
BUILDING SIZE: 3,510 SF
RENOVATED: 2017
ZONING: B
MARKET: Chicago
SUBMARKET: West Cook MF
TRAFFIC COUNT: 27,087
PRICE / SF: $192.31
PROPERTY OVERVIEW6 Flat Low Rise Multifamily Property with easy access to I-290 for commuters!Completely renovated in 2017 with everything new down to the studs. All unitshave condo-quality Gnishes, new HVAC and AC. One parking space per unitincluded in rent. Excellent turn-key investment opportunity!
PROPERTY HIGHLIGHTS• Turn key investment
• Renovated in 2017
• New HVAC and AC
Executive Summary
110 CONCORD DR 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 5
SALE PRICE $675,000
LOCATION INFORMATION
Street Address 110 Concord Dr
City, State, Zip Melrose Park, IL 60160
County/Township Cook
Market Chicago
Submarket West Cook MF
Cross Streets Concord Ave / N 5th Ave
Side Of Street South
Road Type Paved
Market Type Medium
Nearest Highway I-290
Nearest Airport O'Hare International Airport
BUILDING INFORMATION
Building Size 3,510 SF
NOI $48,518
Cap Rate 7.19%
Price / SF $192.31
Year Built 1961
Last Renovated 2017
Occupancy % 100%
Tenancy Multiple
Number Of Floors 2
Average Floor Size 1,755 SF
Load Factor Yes
PROPERTY DETAILS
Property Type Multifamily
Property Subtype Low-Rise/Garden
Zoning B
Lot Size 0.11 Acres
APN# 15-02-115-040-0000
Submarket West Cook MF
TrafGc Count 27,087
TrafGc Count Street 1st Ave / Division St
PARKING & TRANSPORTATION
Street Parking Yes
Property Details
110 CONCORD DR 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 6
Additional Photos
110 CONCORD DR 1 | PROPERTY INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 7
110 CONCORD DR 1 | PROPERTY INFORMATION
LOCATION INFORMATION
2 | LOCATION INFORMATION
LOCATION MAPS
RETAILER MAP
2LOCATION INFORMATION110 CONCORD DR
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 9
Location Maps
110 CONCORD DR 2 | LOCATION INFORMATION
Each Office Independently Owned and Operated kwcommercial.com 10
Retailer Map
110 CONCORD DR 2 | LOCATION INFORMATION
FINANCIAL ANALYSIS
3 | FINANCIAL ANALYSIS
FINANCIAL SUMMARY
RENT ROLL
UNIT MIX SUMMARY
3FINANCIAL ANALYSIS110 CONCORD DR
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 12
Financial Summary
110 CONCORD DR 3 | FINANCIAL ANALYSIS
Each Office Independently Owned and Operated kwcommercial.com 13
UNIT
NUMBER
UNIT
BED
UNIT
BATH
LEASE
START
CURRENT
RENT
1N 2 1 9/20 $1,250
1S 2 1 9/20 $1,250
2N 2 1 2/19 $1,195
2S 2 1 9/20 $1,195
GN 2 1 11/19 $1,200
GS 1 1 7/18 $800
Totals/Averages $6,890
Rent Roll
110 CONCORD DR 3 | FINANCIAL ANALYSIS
Each Office Independently Owned and Operated kwcommercial.com 14
UNIT TYPE COUNT % TOTAL
2 Bed / 1 Bath 5 83.3
1 Bed / 1 Bath 1 16.7
Totals/Averages 6 100%
Unit Mix Summary
110 CONCORD DR 3 | FINANCIAL ANALYSIS
SALE COMPARABLES
4 | SALE COMPARABLES
SALE COMPS
SALE COMPS SUMMARY
SALE COMPS MAP
4SALE COMPARABLES110 CONCORD DR
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 16
Subject Property
110 Concord Dr | Melrose Park, IL 60160
$675,000Sale Price: 1961Year Built:
3,510 SFBuilding SF: $192.31Price PSF:
6No. Units: $112,500Price / Unit:
7.19%CAP: $48,518NOI:
8.5GRM:
6 Flat Low Rise Multifamily Property with easy access to I-290 for commuters! Completely renovated in 2017 with everything new down to the studs. All units havecondo-quality .nishes, new HVAC and AC. One parking space per unit included in rent. Excellent turn-key investment opportunity!
2 Star Low-Rise Apartments
1
7557 W Belmont Ave
Chicago, IL 60634
$942,000Sale Price: 0.17 AcresLot Size:
1969Year Built: 3,500 SFBuilding SF:
$269.14Price PSF: 9No. Units:
$104,666Price / Unit: 07/16/2018Closed:
100%Occupancy:
1
3 Star Low-Rise Apartments
2
3506 Warren Ave
Bellwood, IL 60104
$680,000Sale Price: 0.12 AcresLot Size:
1968Year Built: 4,000 SFBuilding SF:
$170.00Price PSF: 6No. Units:
$113,333Price / Unit: 07/10/2019Closed:
100%Occupancy:
2
2 Star Apartments
3
2912 N 75th Ave
Elmwood Park, IL 60707
$655,000Sale Price: 0.14 AcresLot Size:
1960Year Built: 5,140 SFBuilding SF:
$127.43Price PSF: 6No. Units:
$109,166Price / Unit: 10/17/2018Closed:
100%Occupancy:
3
Sale Comps
110 CONCORD DR 4 | SALE COMPARABLES
Each Office Independently Owned and Operated kwcommercial.com 17
2 Star Low-Rise Apartments
4
1948 N 19th Ave
Melrose Park, IL 60160
$600,000Sale Price: 0.13 AcresLot Size:
1961Year Built: 5,120 SFBuilding SF:
$117.19Price PSF: 6No. Units:
$100,000Price / Unit: 8.83%CAP:
09/20/2019Closed: 100%Occupancy:
$52,980NOI:
4
2 Star Low-Rise Apartments
5
8817 Grand Ave
River Grove, IL 60171
$580,000Sale Price: 0.14 AcresLot Size:
1960Year Built: 4,548 SFBuilding SF:
$127.53Price PSF: 6No. Units:
$96,666Price / Unit: 07/15/2019Closed:
100%Occupancy:
5
2 Star Low-Rise Apartments
6
8615 Grand Ave
River Grove, IL 60171
$565,000Sale Price: 0.14 AcresLot Size:
1964Year Built: 4,500 SFBuilding SF:
$125.56Price PSF: 6No. Units:
$94,166Price / Unit: 06/18/2019Closed:
83.3%Occupancy:
6
2 Star Low-Rise Apartments
7
8914 W Grand Ave
River Grove, IL 60171
$560,000Sale Price: 0.11 AcresLot Size:
1951Year Built: 3,814 SFBuilding SF:
$146.83Price PSF: 6No. Units:
$93,333Price / Unit: 09/18/2018Closed:
100%Occupancy:
7
Sale Comps
110 CONCORD DR 4 | SALE COMPARABLES
Each Office Independently Owned and Operated kwcommercial.com 18
2 Star Apartments
8
8710 Fullerton Ave
River Grove, IL 60171
$505,000Sale Price: 0 AcresLot Size:
4,512 SFBuilding SF: $111.92Price PSF:
6No. Units: $84,166Price / Unit:
02/05/2018Closed: 100%Occupancy:
8
2 Star Low-Rise Apartments
9
8300 W Grand Ave
River Grove, IL 60171
$490,000Sale Price: 0.09 AcresLot Size:
1958Year Built: 9,552 SFBuilding SF:
$51.30Price PSF: 6No. Units:
$81,666Price / Unit: 08/21/2018Closed:
100%Occupancy:
9
2 Star Low-Rise Apartments
10
1686 N 1st Ave
Melrose Park, IL 60160
$475,000Sale Price: 0.16 AcresLot Size:
1961Year Built: 6,240 SFBuilding SF:
$76.12Price PSF: 6No. Units:
$79,166Price / Unit: 10/16/2020Closed:
100%Occupancy:
10
2 Star Low-Rise Apartments
11
1430 N 1st Ave
Melrose Park, IL 60160
$460,000Sale Price: 0.12 AcresLot Size:
1963Year Built: 3,810 SFBuilding SF:
$120.73Price PSF: 6No. Units:
$76,666Price / Unit: 02/28/2018Closed:
100%Occupancy:
11
Sale Comps
110 CONCORD DR 4 | SALE COMPARABLES
Each Office Independently Owned and Operated kwcommercial.com 19
1
2
3
4
5
6
7
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS
110 Concord DrMelrose Park, IL 60160
$675,0003,510SF
$192.31 $112,500 7.19% 8.5 6
SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE
7557 W Belmont Ave
Chicago, IL60634
$942,0003,500SF
$269.14 $104,666 - - 907/16/2018
3506 Warren Ave
Bellwood, IL60104
$680,0004,000SF
$170.00 $113,333 - - 607/10/2019
2912 N 75th Ave
Elmwood Park, IL60707
$655,0005,140SF
$127.43 $109,166 - - 610/17/2018
1948 N 19th Ave
Melrose Park, IL60160
$600,0005,120SF
$117.19 $100,000 8.83% - 609/20/2019
8817 Grand Ave
River Grove, IL60171
$580,0004,548SF
$127.53 $96,666 - - 607/15/2019
8615 Grand Ave
River Grove, IL60171
$565,0004,500SF
$125.56 $94,166 - - 606/18/2019
8914 W Grand Ave
River Grove, IL60171
$560,0003,814SF
$146.83 $93,333 - - 609/18/2018
Sale Comps Summary
110 CONCORD DR 4 | SALE COMPARABLES
Each Office Independently Owned and Operated kwcommercial.com 20
8
9
10
11
SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS
8710 Fullerton Ave
River Grove, IL60171
$505,000 4,512 SF $111.92 $84,166 - - 602/05/2018
8300 W Grand Ave
River Grove, IL60171
$490,000 9,552 SF $51.30 $81,666 - - 608/21/2018
1686 N 1st Ave
Melrose Park, IL60160
$475,000 6,240 SF $76.12 $79,166 - - 610/16/2020
1430 N 1st Ave
Melrose Park, IL60160
$460,000 3,810 SF $120.73 $76,666 - - 602/28/2018
PRICE BLDG SF PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE
Totals/Averages $592,000 4,976 SF $118.97 $94,417 8.83% - 6.27
Sale Comps Summary
110 CONCORD DR 4 | SALE COMPARABLES
Each Office Independently Owned and Operated kwcommercial.com 21
110 Concord Dr | Melrose Park, IL 60160SUBJECT PROPERTY
1Chicago, IL60634
7557 W BELMONT AVE 2Bellwood, IL60104
3506 WARREN AVE
3Elmwood Park, IL60707
2912 N 75TH AVE 4Melrose Park, IL60160
1948 N 19TH AVE
5River Grove, IL60171
8817 GRAND AVE 6River Grove, IL60171
8615 GRAND AVE
7River Grove, IL60171
8914 W GRAND AVE 8River Grove, IL60171
8710 FULLERTON AVE
Sale Comps Map
110 CONCORD DR 4 | SALE COMPARABLES
Each Office Independently Owned and Operated kwcommercial.com 22
110 Concord Dr | Melrose Park, IL 60160SUBJECT PROPERTY
9River Grove, IL60171
8300 W GRAND AVE 10Melrose Park, IL60160
1686 N 1ST AVE
11Melrose Park, IL60160
1430 N 1ST AVE
Sale Comps Map
110 CONCORD DR 4 | SALE COMPARABLES
DEMOGRAPHICS
5 | DEMOGRAPHICS
DEMOGRAPHICS MAP & REPORT
5DEMOGRAPHICS110 CONCORD DR
OFFERING MEMORANDUM
Each Office Independently Owned and Operated kwcommercial.com 24
POPULATION 1 MILE 3 MILES 5 MILES
Total Population 18,178 202,166 596,295
Average age 33.9 36.7 36.4
Average age (Male) 32.9 35.6 34.8
Average age (Female) 34.1 37.7 38.0
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 6,117 74,842 212,518
# of persons per HH 3.0 2.7 2.8
Average HH income $85,553 $76,002 $70,907
Average house value $294,238 $328,361 $312,449
* Demographic data derived from 2010 US Census
Demographics Map & Report
110 CONCORD DR 5 | DEMOGRAPHICS