1. Investment Property Offering
$1,195,000 EAST COURT VILLAGE
3574-3578 Court Street, Pekin, IL 61554
Presented By: Thomas Vincent, Offering Highlights
CCIM Shadow Anchored by Major Retailers
1803 Hicks Rd., Suite D
Rolling Meadows, IL 60008
(847)963-1031
Wal-mart Super Center- 1/4 Mile East
vincentt@svn.com
Attractive Masonry 2006 Construction
Low Real Estate Taxes
07/26/2011
All Sperry Van Ness® Offices Independently Owned and Operated.
2. All materials and information received or derived from Sperry Van Ness/Sentinel Realty
Advisors, Inc. (Thomas S. Vincent)(hereinafter collectively “Sperry Van Ness”), its directors,
officers, agents, advisors, affiliates and/or any third party sources are provided without
representation or warranty by Sperry Van Ness its directors, officers, agents, advisors, or
affiliates as to completeness , veracity, or accuracy, condition of the property, compliance or
lack of compliance with applicable governmental requirements, developability or suitability,
financial performance of the property, projected financial performance of the property for any
party’s intended use or any and all other matters.
Neither Sperry Van Ness its directors, officers, agents, advisors, or affiliates makes any
representation or warranty, express or implied, as to accuracy or completeness of the any
materials or information provided, derived, or received.
Materials and information from any source, whether written or verbal, that may 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 of significance to such party. Sperry Van Ness will not investigate or
verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
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 and investigations including through
appropriate third party independent professionals selected by such party.
All financial data should be verified by the party including by obtaining and reading applicable
documents and reports and consulting appropriate independent professionals. Sperry Van Ness
makes no warranties and/or representations regarding the veracity, completeness, or relevance
of any financial data or assumptions. Sperry Van Ness does 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 or
performance.
Any estimates of market rents and/or projected rents that may be provided to a party do not
necessarily mean that rents can be established at or increased to that level. Parties must
evaluate any applicable contractual and governmental limitations as well as market conditions,
vacancy factors and other issues in order to determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be
discussed by the party with a certified public accountant or tax attorney. Title questions should
be discussed by the party with a title officer or attorney. Questions regarding the condition of
the property and whether the property complies with applicable governmental requirements
should be discussed by the party with appropriate engineers, architects, contractors, other
consultants and governmental agencies.
All properties and services are marketed by Sperry Van Ness in compliance with all applicable
fair housing and equal opportunity laws.
Sperry Van Ness/Sentinel Realty Advisors, Inc. (Thomas S. Vincent) is independently owned
and operated.
3. Table of Contents
1 Financial Analysis
Executive Summary
Investment Information
Rent Roll Summary
2 Sales Comparables
Sales Comparables Summary
3 Additional Information
Pictures
Location Map
Demographics Report
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
4. 1 . Financial Analysis
All Sperry Van Ness® Offices Independently Owned and Operated.
5. EAST COURT VILLAGE Executive Summary
List Price $1,195,000
Price Per GLA $222.95
Price Per Sq.Ft. $222.95
NOI $107,007
CAP 8.95 %
Building Sq.Ft. 5,360
Land Acres 0.7500
Occupancy.
PROPERTY DESCRIPTION
3574-3578 Court Street, Pekin, IL 61554 Construction
Built in 2006-attractive drivit construction.
Parking
HIGHLIGHTS Approximately a 5:1 ratio
Shadow Anchored by Major Retailers Traffic Counts
Traffic count on Court St: 17,800 cars
Wal-mart Super Center- 1/4 Mile East
Ingress/Egress
Attractive Masonry 2006 Construction Property is a pad site on large retail development. Principal
access is from Court St, secondary access from Veterans Drive.
Low Real Estate Taxes
Major Tenants
Verizon Wireless and Citigroup. Verizon exercised option-5 years
remaining. Citibank 18 months remaining. Verizon and Citibank
are NNN leases
Cross Street
Area
Tax Parcel No. The area is the retail hub of Pekin. A new Wal-Mart Super
Market Peoria Center & Menards are located d within 1/4 mile of the site. The
property is part of a re-development with several anchors
Sub Market including Hobby Lobby, Tractor Supply and Bergners as well as
Year Built 2006 excellent smaller tenants such as Clare's, Payless Shoes and
Hallmark. Other major tenants in the area include Staples,
Building Class A
Advance Auto, Sherwin Williams, Starbucks, Applebees as well
Location Class A as several banks. The building faces south, toward Bergner's and
Zoning Type Commercial the rear elevation front Court St., providing excellent exposure.
Signalized Corner No Property
The building faces south toward Bergner's and the rear
Street Frontage elevation fronts Court St. providing excellent exposure.
No. of Buildings 1
No. of Stories
Exclusively Listed By:
No. of Tenants 3
No. of Parking Spaces Thomas Vincent, CCIM
Parking Ratio 5:1 (847)963-1031
vincentt@svn.com
07/26/2011
6. Investment Information
EAST COURT VILLAGE 3574-3578 Court Street Pekin, IL 61554
Listing Price $1,195,000 GLA 5,360
Actual CAP 8.95 % Building S.F. 5,360
CAP Percent Occupied 100.00 %
Price Per S.F. $222.95 Land Acres 0.7500
Price Per GLA $222.95 Loan Amount
Expenses Per S.F. $4.40 Down Payment
Loan Description
Estimated Annualized Operating Data Actual
Scheduled Income $113,880
Tax, CAM, Ins. Reimb. $23,588
Less Vacancy $6,873
Gross Operating Income $130,595
Less Expenses $23,588
Net Operating Income $107,007
Less Loan Payment $0
Pre-Tax Cash Flow $107,007
Cash on Cash Return
Estimated Annualized Expenses Highlights
Actual
Projected Taxes $9,751 Shadow Anchored by Major Retailers
Insurance $2,126 Wal-mart Super Center- 1/4 Mile East
Off-Site Management $3,000 Attractive Masonry 2006 Construction
Trash $3,053 Low Real Estate Taxes
Snow Removal $1,496
Landscaping $1,542
Lot Sweeping $571
Utilities $2,049
Total Expenses $23,588 $0
Expenses Per S.F. $4.40
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
7. w w w .s vn .c o m
Rent Roll Summary
Space Tenant Name Start Date End Date Occupied Vacant Annual Occupied Vacant % of Escalations / Options / Comments
Number S.F. S.F. Rent S.F. Rent Rent Total
1 Verizon 4/1/2006 4/30/2016 3,000 $25.00 $75,000 $0 56.0 %
2 Renewal Options- 5 yr terms with
increases
2 Citigroup 7/1/2007 1/31/2013 1,800 $16.00 $28,800 $0 33.6 %
1 Renewal Option- 5 yr term
3 All Credit Lenders 12/31/2012 560 $18.00 $10,080 $0 10.4 %
Total 5,360 $113,880 $0 100.0 %
Potential Annual Income $113,880
Total S.F. 5,360
Avg. Annual Per S.F. $21.25
S.F. Vacancy (%)
Rent Vacancy (%)
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
All Sperry Van Ness® Offices Independently Owned and Operated.
8. 2 . Sales Comparables
All Sperry Van Ness® Offices Independently Owned and Operated.
9. w w w .s vn .c o m
Sales Comparables Summary
Sales Comparables - Closed
Property Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close Photo
Prairie Pointe $2,525,150 11,876 $212.63 8.00 %
9010 Allen Rd. Tenants include Edward Jones, Pizza Factory and Great Harvest Bread
Peoria,IL
Averages $2,525,150 11,876 $212.63 8.00 %
Sales Comparables - On Market
Property Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close Photo
Heritage Crossing $3,729,000 2009 12,050 $309.46 8.53 % 60
712 N. McLean Blvd.
South Elgin,IL 60177
Fox River Grove Center $2,940,000 2008 14,035 $209.48 8.75 % 70
925 Rt. 22 Automotive tenant on end cap, only retail pocket in community
Fox River Grove ,IL 60021
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
All Sperry Van Ness® Offices Independently Owned and Operated.
10. w w w .s vn .c o m
Property Location Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close Photo
Kaneville Center $3,000,000 17,744 $169.07 7.10 % 85
2401 W. Kaneville Rd. On Randall Rd. corridor at signalized intersection. Cap rate based on 75% occupancy.
Geneva,IL 60134
Averages $3,223,000 2009 14,610 $229.34 8.13 % 72
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
All Sperry Van Ness® Offices Independently Owned and Operated.
11. w w w .s vn .c o m
Averages For All Sales Comparables
Sale Price Year Built Bldg S.F. Price/S.F. CAP Parking Spaces Close
Averages $3,048,538 2009 13,926 $225.16 8.10 % 72
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
All Sperry Van Ness® Offices Independently Owned and Operated.
12. 3 . Additional Information
All Sperry Van Ness® Offices Independently Owned and Operated.
13. Anchors- Claire's & Payless
Nearby Shopping Center- Hobby Lobby
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
14. Anchors- Sprint & Deals
Nearby Bank Building
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
15. Bergner's
Nearby Firestone
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
16. Adjacent Strip Center
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
17. w w w .s vn .c o m
Location Map
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
All Sperry Van Ness® Offices Independently Owned and Operated.
18. Demographics Report
3574 Court Street
Pekin, IL 61554
1.00 Mile 3.00 Mile 5.00 Mile
Ring Ring Ring
POPULATION
1990 Population 1,771 25,205 40,575
2000 Population 1,827 25,231 42,114
% Population Change 1990-2000 3.16 % 0.10 % 3.79 %
2008 Total Population 1,899 25,020 42,080
2013 Total Population 1,985 25,349 42,565
% Population Change 2000-2008 3.94 % -0.84 % -0.08 %
% Population Change 2008-2013 4.53 % 1.31 % 1.15 %
2008 Total Households 872 10,560 16,823
2013 Total Households 907 10,679 16,988
% Households Change 2000-2008 10.80 % 1.61 % 1.99 %
% Households Change 2008-2013 4.01 % 1.13 % 0.98 %
2008 White Population 1,836 24,256 39,940
2008 Black Population 2 51 959
2008 American Indian/Alaska Native 2 36 83
2008 Asian/Hawaiian/Pacific Islander 11 115 203
2008 Other Population (Incl 2+ Races) 47 563 897
2008 Hispanic Population 22 326 602
2008 Non-Hispanic Population 1,877 24,694 41,479
2008 Per Capita Income $32,346 $25,264 $24,061
2008 Median Household Income $49,095 $43,794 $43,365
2008 Average Household Income $70,442 $59,858 $60,184
2008 Household Income < $10,000 43 656 969
2008 Household Income $10,000-$14,999 64 807 1,213
2008 Household Income $15,000-$19,999 29 681 1,179
2008 Household Income $20,000-$24,999 41 625 1,096
2008 Household Income $25,000-$29,999 32 586 1,042
2008 Household Income $30,000-$34,999 87 788 1,217
2008 Household Income $35,000-$39,999 43 611 973
2008 Household Income $40,000-$44,999 58 693 1,071
2008 Household Income $45,000-$49,999 47 580 974
2008 Household Income $50,000-$59,999 82 1,126 1,944
2008 Household Income $60,000-$74,999 94 1,448 2,387
2008 Household Income $75,000-$99,999 191 1,407 1,924
2008 Household Income $100,000-$124,999 32 310 447
2008 Household Income $125,000-$149,999 12 135 231
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
19. 2008 Household Income $150,000-$199,999 10 49 69
2008 Household Income $200,000-$249,999 1 11 14
2008 Household Income $250,000-$499,999 5 46 69
2008 Household Income $500,000+ 0 1 1
2008 Average Household Size 2.14 2.31 2.38
2008 Total Owner Occupied Housing Units 657 7,181 12,007
2008 Total Renter Occupied Housing Units 218 3,371 4,822
2008 Total Daytime Population 3,995 18,656 33,520
2008 Total Daytime Work Population 2,485 7,349 13,311
2008 Total Establishments 216 843 1,533
HOUSEHOLDS
1990 Households 714 10,060 15,962
2000 Households 787 10,393 16,494
% Households Change 1990-2000 10.22 % 3.31 % 3.33 %
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.