4035 47 w 115th st com

Offering Memorandum

Retail Center

4035-4047 W. 115th St.

Alsip, IL. 60803

BOARDW LK

commercial real estate

Boardwalk Commercial Real Estate

Apartment Buildings... Retail Centers... Office Buildings

Confidentiality & Disclaimer

Boardwalk Commercial Real Estate "BCRE" has been retained as exclusive Broker for the

Owner of Record for the sale of the "Property" in this Offering Memorandum. Prospective

Purchaser hereby acknowledges receiving information regarding the Property from Boardwalk

Commercial Real Estate agrees to keep said information “Strictly Confidential”. It is intended to

be viewed only by the party receiving it from BCRE.

You further agree that although BCRE believes the evaluation material provided to Prospective

Purchaser is accurate, you understand that neither BCRE nor its directors, officers, employees,

representatives or advisors is making or is authorized to make any representations or warranty as

to the accuracy or completeness of the evaluation material provided to you and you agree that

neither BCRE nor any such person shall incur any liability to you as a result of your use or

reliance on such information. It is up to the potential Purchaser to perform his own Due

Diligence on the Property.

By accepting this Offering Memorandum you agree not to disturb any of the tenants at the

Property. You also agree not to contact the owner of the Property for any reason. All questions,

showings and information will be directed thru a Broker representative of BCRE. Additional

information will be available to interested and qualified buyers.

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Offering Memorandum

Retail Center

4035-4047 W. 115th St.

Alsip, IL. 60803

Contact Information:

Bob Petrich

President

Commercial Real Estate

708-917-3333

[email protected]

Boardwalk CRE

8218 Lavergne Ave

Burbank, IL 60459

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Table of Contents

1... Property Description

2... Property Summary

3... Property Photos

4... Financial Overview

5... Financing

6... CAM & Taxes

7... Rent Roll

8... Regional & Local Map

9... Aerial Map

10.. For Sale

11.. Recent Sales

12.. Demographics

TABLE OF CONTENT S

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Property Description

Retail center located at 4935-4047 W. 115th St. in Alsip, IL. The retail center is two blocks west

of 115th & Pulaski and is 100% fully leased. The leases are NNN and the tenants are long term

with extended expiration dates with options.

The property is located just across the street from Marist High School. The property is in Cook

county and draws customers & students from the area.. The tenants include:

Country Pantry

Alsip Cleaner

Zima Hair Salon

Sedona Staffing

Sail Phone

Barber Shop

Poor Dog Restaurant

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Property Summary

Number of Units:

7

Rentable Square Feet:

11,238

Lot Size:

16,642

Year Built:

1969

Electric:

110/220 V

Parking:

42

HVAC:

2200 Amp

Roof:

Rubberized

Fire Protection:

Village

Construction:

Concrete

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Property Photos



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Property Photos

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Financial Overview

Price

$1,500,000

Total Units

7

Rentable Square

Feet

11,238

Price Per Square

Foot

$133

Pass Thru & Base Rent

$0

CAM & Taxes

$53,519

Net Operating

Income

$145,254

Cap Rate

9.68%

Debt Service

$75,037

Debt Coverage

Ratio

1.94

Cash Flow After

Debt

$70,217

Total Return

18.72%

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Financing

Price

$1,500,000

Down Payment

25%

$375,000

Loan To Value

75%

$1,125,000

Interest Rate

4.50%

Amortization Years

25

Debt Service

$75,037

Debt Coverage

Ratio

1.94

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Income & Expense

Expenses:

Taxes $39,849.00

Management $7,170.00

Maintenance &

Repair $1,200.00

Scavenger $900.00

Insurance $2,400.00

Lawn Maintenance $800.00

Snow Plow $1,200.00

Total Expenses $53,519.00

Per square foot $ 5.07

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Rent Roll

13,041 x 12 = 156,492

Minus 53,519 x 21% = 11,238

NOI = $145,254

Tenant Unit Square Feet Base rent CAM and Taxes Total Monthly Maturity Date Options

Country Pantry 4035 2350 $2,791.00 21%

April-20 2-5years

Alsip Laundromat 4039B 1900 $1,500.00 17%

Apr-16 1-3years

Dry Cleaner 4039A 1000 $2000.00 0%

Aug-17 1-4year

Salon shop 4041A 1100 $1,250.00 9%

Aug-16 1-2year

Nexus Staffing 4041B 1238 $1,200.00 0%

Mar-15 1-2year

Cell Phone 4043 900 $1,100.00 8%

Apr-16 1-2year

Barber Shop 4045 850 $1000.00 8%

Aug-19 1-2year

Poor Dog Restaurant 4047 1800 $2200.00 16%

TOTAL: 11,238

$13,041.00

79%

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Regional Map

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Local Map



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Aerial Map

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Demographics

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Demographics

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Demographics



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4035 47 w 115th st com

Documents

retail centers

property photos

memorandum retail center

boardwalk cre

contact information

offering memorandum

additional information

broker representative