42-52 N. WALLER AVENUE · Complete Highlights Additional Photos LOCATION INFORMATION 8 Regional Map Location Maps Aerial Map Retailer Map ... 2016 Real Estate Taxes $36,544 $830 Gas

42-52 N. WALLERAVENUE42 N. WALLER AVENUECHICAGO, IL 60644

Frank [email protected]

Jim SearsSenior Vice [email protected]

Reid Bennett, CCIMSenior Vice [email protected]

OFFERING MEMORANDUMSVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607

Advisor Bio & ContactAdvisor Bio & ContactAdvisor Bio & Contact

PROPERTY INFORMATION 3Executive SummaryProperty DetailsComplete HighlightsAdditional Photos

LOCATION INFORMATION 8Regional MapLocation MapsAerial MapRetailer Map

FINANCIAL ANALYSIS 13Financial SummaryIncome & ExpensesRent Roll

SALE COMPARABLES 19Sale CompsSale Comps SummarySale Comps Map

DEMOGRAPHICS 23Demographics Map

ADVISOR BIOS 25

42 N. Waller Avenue | Chicago, IL 60644

42-52 N. WALLER AVENUEFOR SALE | MULTIFAMILY

All SVN® Offices Independently Owned and OperatedThe information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.

1 PROPERTY INFORMATION1 PROPERTY

INFORMATION42 N. Waller Avenue

Chicago, IL 60644

42-52 N. WALLER AVENUE | 42 N. WALLER AVENUE CHICAGO, IL 60644 SVN | Chicago Commercial | Page 3

OFFERING SUMMARY

Sale Price: $2,650,000

Number Of Units: 44

Cap Rate: 8.66%

NOI: $229,485

Lot Size: 0.54 Acres

Year Built: 1927

Building Size: 43,788

Zoning: RT-4

Price /Unit: $60,227

Subject property is a three story, walk-up style courtyard apartment building consisting of 44 units as follows: 7 - 5rooms, 3 bedrooms; 17 - 4 rooms, 2 bedrooms; 14 - 4 rooms, 1 bedroom and 6 - 2.5 room studios. Property is currently93% occupied.

PROPERTY OVERVIEW

Austin is one of the largest community area with population and geographics. Chicago's green line is 2 blocks north witha 25 minute ride to downtown. The 290 Expressway is 1 short mile that runs east to downtown and west to 294Expressway.

LOCATION OVERVIEW

PROPERTY HIGHLIGHTS

• Peerless Central Steam Boiler providing heat

• Large spacious rooms in units

• Excellent unit mix

• Strong occupancy

42-52 N. WALLER AVENUE | 42 N. WALLER AVENUE, CHICAGO, IL 60644 SVN | Chicago Commercial | Page 4

Executive Summary


SALE PRICE $2,650,000

LOCATION INFORMATION

Building Name 42-52 N. Waller Avenue

Street Address 42 N. Waller Avenue

City, State, Zip Chicago, IL 60644

County/Township Cook

BUILDING INFORMATION

Building Size 43,788 SF

Number Of Floors 3

Year Built 1927

Load Factor Yes

PROPERTY DETAILS

Property Type Multifamily

Property Subtype Low-Rise/Garden

Zoning RT-4

Lot Size 23,406 SF

APN# 16-08-421-015 & 016

Property Details


SALE HIGHLIGHTS

• Modern Kitchens & Baths

• Hardwood Floors in Units

• Modified Rubber Roof

• 100% Solid Tuckpointing

• Units Rewired

Complete Highlights


Additional Photos




2 LOCATION INFORMATION2 LOCATION

INFORMATION42 N. Waller Avenue

Chicago, IL 60644



42-52 N. Waller Avenue

Regional Map


Location Maps


Aerial Map


Retailer Map




3 FINANCIAL ANALYSIS3 FINANCIAL

ANALYSIS42 N. Waller Avenue

Chicago, IL 60644



INVESTMENT OVERVIEW

Price $2,650,000Price per Unit $60,227GRM 6.2CAP Rate 8.7%Cash-on-Cash Return (yr 1) 17.96 %Total Return (yr 1) $145,602Debt Coverage Ratio 1.71

OPERATING DATA

Gross Scheduled Income $429,852Other Income -Total Scheduled Income $429,852Vacancy Cost $21,493Gross Income $408,359Operating Expenses $178,874Net Operating Income $229,485Pre-Tax Cash Flow $95,203

FINANCING DATA

Down Payment $530,000Loan Amount $2,120,000Debt Service $134,282Debt Service Monthly $11,190Principal Reduction (yr 1) $50,399

Financial Summary


INCOME SUMMARY PER UNIT

Scheduled Annual Gross $429,852 $9,769Less 5.0% Vacancy & Collection Loss -$21,493 -$488

Gross Income $408,359 $9,280

EXPENSE SUMMARY PER UNIT

2016 Real Estate Taxes $36,544 $830Gas (Heat & Hot Water) $27,730 $630Electric $5,580 $126Water/Sewer $33,305 $756Insurance $13,113 $298Repairs/Decorating $21,714 $493Supplies $5,000 $113Janitorial $7,800 $177Scavenger $3,552 $80Management $24,536 $557

Gross Expenses $178,874 $4,065

Net Operating Income $229,485 $5,215

Income & Expenses


UNITNUMBER

UNITBED

UNITBATH

LEASEEND

CURRENTRENT

101 2 1 $900

102 2 1 $800

103 2 1 $800

200 3 1 $1,000

201 2 1 Section 8 $801

202 2 1 Section 8 $795

203 3 1 $1,000

301 2 1 $800

302 2 1 $800

303 1 1 $850

401 2 1 $900

402 2 1 $800

403 2 1 $825

501 0 1 Janitor $650

502 0 1 $575

503 0 1 $600

601 1 1 $725

602 2 1 Vacant $850

603 2 1 $800

701 2 1 $900

702 2 1 Section 8 $850

703 1 1 Section 8 $625

Rent Roll


UNITNUMBER

UNITBED

UNITBATH

LEASEEND

CURRENTRENT

801 2 1 $800

802 2 1 $900

803 2 1 $850

901 2 1 $850

902 2 1 $800

903 2 1 $850

111 0 1 $600

112 0 1 $575

113 0 1 Vacant $650

121 2 1 Section 8 $850

122 2 1 $750

123 2 1 Vacant $900

131 2 1 $900

132 2 1 $900

133 2 1 $900

140 4 1 $1,100

141 3 1 $850

142 3 1 $1,000

143 2 1 $750

151 2 1 $750

152 2 1 Vacant $900

153 2 1 $750

Rent Roll


UNITNUMBER

UNITBED

UNITBATH

LEASEEND

CURRENTRENT

Totals/Averages $35,821

Rent Roll




4 SALE COMPARABLES4 SALE

COMPARABLES42 N. Waller Avenue

Chicago, IL 60644



SUBJECT PROPERTY


$2,650,000Sale Price: 0.54 ACLot Size:

1927Year Built: 43,788 SFBuilding SF:

$60.52Price PSF: 44No. Units:

$60,227Price / Unit: 6.16GRM:

8.66%Cap: $229,485NOI:

1

149-155 N. MASON AVENUE

Chicago, IL 60644




$59,000Price / Unit: 01/15/2016Closed:

1

2

135-145 S. AUSTIN BOULEVARD

Chicago, IL 60644




$58,870Price / Unit: 01/14/2016Closed:

2

Sale Comps


SUBJECT PROPERTY PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS

42-52 N. Waller Avenue

42 N. Waller Avenue

Chicago, IL 60644

$2,650,000 43,788 SF $60.52 $60,227 44

SALE COMPS PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE

149-155 N. Mason AvenueChicago, IL60644

$1,475,000 30,000 SF $49.17 $59,000 25 01/15/2016

135-145 S. Austin BoulevardChicago, IL60644

$1,825,000 27,033 SF $67.51 $58,870 31 01/14/2016

PRICE BLDG SF PRICE/SF PRICE/UNIT # OF UNITS CLOSE

Totals/Averages $1,650,000 28,517 SF $57.86 $58,928 28

1

2

Sale Comps Summary


42 N. Waller Avenue | Chicago, IL 60644SUBJECT PROPERTY

1 Chicago, IL60644

149-155 N. MASON AVENUE2 Chicago, IL

60644

135-145 S. AUSTIN BOULEVARD

Sale Comps Map




5 DEMOGRAPHICS5

DEMOGRAPHICS42 N. Waller Avenue

Chicago, IL 60644



POPULATION 0.5 MILES 1 MILE 1.5 MILES

Total population 12,780 47,652 103,844

Median age 34.0 33.5 33.2

Median age (male) 33.9 31.8 31.3

Median age (Female) 33.2 34.3 34.2

HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILES

Total households 5,048 17,606 36,186

# of persons per HH 2.5 2.7 2.9

Average HH income $39,681 $49,713 $55,520

Average house value $301,818 $344,991 $305,965

* Demographic data derived from 2010 US Census

Demographics Map




6 ADVISOR BIOS 6 ADVISOR BIOS42 N. Waller Avenue

Chicago, IL 60644



940 West Adams Street, Suite 200Chicago, IL 60607T 312.960.6763C [email protected]

PROFESSIONAL BACKGROUND

Frank Micklin serves as an advisor for SVN | Chicago Commercial multi-family group, focusing on Chicago's south andwest sides. He offers more than 20 years of brokerage experience as well as unique hands-on operational experience tohis clients.

Frank graduated from the University of Illinois - Chicago with a Bachelor's Degree in Finance. That knowledge continuesto serve him well in the analysis of the properties he takes to market.

A family man, Frank resides in the southwest suburbs with his wife and two daughters. In his free time he is an avidbilliards player.

FRANK MICKLIN

Advisor

Advisor Bio & Contact




Jim Sears serves as Senior Vice President of SVN | Chicago Commercial. An active broker in Illinois and Indiana, Searsbrings more than 25 years of industry experience and more than $350 million in completed transactions to theChicago-based team.

His clients have included Freddie Mac, Citibank, Northern Trust, Harris Bank, ShoreBank, and Park National to a name afew.

His unique approach of partnering with each of his brokers in themarketing and sale of properties creates both a supportive workenvironment and a motivated, cooperative team dedicated to best serving the interests of their clients.

A graduate of the University of Miami (FL) with a BBA in Accounting, Sears first worked for the Big Eight firm of PriceWaterhouse in Chicago as a tax specialist with an emphasis in real estate. Seeking a more entrepreneurial experience,Sears then began his real estate career with long time mentor and friend, Jack Fisher, with whom he eventuallyco-founded the firm of Fisher/Sears and Associates, Inc. in 1991. Desiring a national platform which utilizesstate-of-the-art technology and marketing tools, Sears merged the firm with SVN in March 2008.

JIM SEARS

Senior Vice President





Reid Bennett, CCIM serves as National Council Chair of Multifamily Properties for SVN International and a Senior VicePresident for SVN - Chicago Commercial. As a licensed managing broker, he focuses primarily on the sale of apartmentcommunities across the Midwest. Reid prides himself on understanding the nuances and analysis of multiple unitapartment dwellings, student housing communities & low-income Section 8 & Section 42 communities.

In 2016 Reid received the Partners Circle Award from SVN where he was ranked #25 among all SVN advisors across thenation.

A graduate from the University of Iowa, Reid also has achieved the highly coveted designation of Certified CommercialInvestment Member (CCIM).

Also active in his community, Reid is the Development Chair for River North Residents Association (RNRA) where heworks in conjunction with developers and area residents to foster responsible development in one of Chicago’s mostactive and desirable neighborhoods.

Prior to merging with SVN, Reid worked with condominium converters as well as large apartment complex buyers &sellers. He procured numerous multi-million dollar deals across the Midwest. Embodying the spirit of SVN, Reid fullyutilizes the national platform and collaborative efforts to best perform for his clients on a global level.

Specialties: Multifamily Apartment Complexes, Low Income Housing, Student Housing, Senior Housing

MEMBERSHIPS & AFFILIATIONS

Certified Commercial Investment Member (CCIM) - DesigneeReal Estate Investment Association (REIA) - MemberNational Association of Realtors (NAR) - MemberRiver North Residents Association (RNRA) - Development Chair

REID BENNETT, CCIM

Senior Vice President


Documents

42-52 N. WALLER AVENUE · Complete Highlights Additional Photos LOCATION INFORMATION 8 Regional Map Location Maps Aerial Map Retailer Map ... 2016 Real Estate Taxes $36,544 $830 Gas