4435 w. rice st. humboldt park
TRANSCRIPT
4435 W. RICE ST.
H U M B O L DT PA R K
Will Thurman | Associate404-697-0678
Doug Hayes | Principal312.766.4283
Zach Pruitt | Principal312.766.4289
OFFERING MEMORANDUM
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INSIDE
Offering Summary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Opportunity Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Investment Highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
Property Specifications . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Area Overview . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
Qualified Opportunity Zone . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
22,800 SF industrial building on a 15,425 SF site, conveniently located just off Chicago Ave... The property offers tremendous in-place investment potential with its location within a Qualified Opportunity Zone, Enterprise Zone and TIF District.
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Cawley Chicago is pleased to present 4437-4449 W Rice St, a highly functional industrial building in Chicago’s Humboldt Park neighborhood. Currently owner-occupied and utilized for manufacturing and production, the property consists of a brick and concrete, two-story building that rests on a total land site of 15,425 Sq.Ft. The 22,800 Sq.Ft. the building consists of a 15,425 Sq.Ft. first fl oor and 7,375 Sq.Ft concrete lofted second floor.
Inside, the first floor presents a move-in ready office area and auxiliary space. On the western portion of the building, a front-load drive-in door flows into a large shipping/receiving area that provides direct access into the open production and main manufacturing floor. Generous column spacing and clear height give an open feel, and within the center, a climate controlled Lab & office space is ideal for product testing and R&D. Finishing off the first floor a rear drive-in dock / loading area is next to efficiently positioned men and women’s restrooms which are complimented with locker rooms. A side access door, provides private and direct access to the warehouse and production space. Two internal staircases lead up to the second floor, which runs an L-shape layout along the north and west portion of the building. With its unique layout and setbacks, the second floor offers tremendous natural light and opportunity for additional office, production or auxiliary space. In addition to the above grade portion of the building, the property consists offunctional basement space, ideal for storage needs.
OFFERING SUMMARY 4435 W. R ice Street
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Nestled into the neighborhood, less than 500’ off of Chicago Ave, the property sits midblock on W Rice St. Located within the protection of PMD zoning, the property provides security for most industrial and manufacturing uses. Bordered by N Kostner to the east and N Kilbourn to the west as the north-south arteries and direct access to major Class II and Class III truck routes. Additionally, I-90, I-290 and I-55 are accessible in 10-15 minutes, and with access to both major airports and Chicago’s CBD within 20-30 minutes, the property is ideal for service, distribution and logistical needs.
In addition to the property’s intrinsic value, 4435 W Rice St offers tremendous investment and growth potential as the property is located within a Qualified Opportunity Zone, Enterprise Zone and TIF District. The financial incentives are accentuated by the City of Chicago’s investment of infrastructure and development coming to the area. Immediately to the south, the city has recently approved the $95m development of the Chicago Police and Fire Academies 600,000 Sq.Ft. facility, located on a 30 acre site. Neighboring to the south, the Hatchery Incubator has opened and welcoming hundreds of new, growing companies. To the north, multiple exciting, large-scale projects are in the works, bringing new businesses to the area.
Opportunity Overview
Address 4435 W Rice St
Property Type Industrial
Total Building Size 22,800 Sq.Ft.
Total Stories 2
Total Land Size 15,425 Sq.Ft
Zoning PMD 9
2018 Taxes $11,769.36
Asking Price $1,618,800
Area Overview
Ward 37th, Ald. Emma Mitts
Community Humboldt Park
Neighborhood West Humboldt Park
Qualified Opportunity Zone Yes, Humboldt Park
TIF NW Industrial Corridor
Enterprise Zone Zone 5
TOD Qualified: <500’ Chicago
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OPPORTUNITY HIGHLIGHTS
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4435 W. Rice Street
� Functionality ideal for owner-user; Enough scale to make a perfect investment
� Property is located within multiple Federal, State and City Incentive Zones: Qualiffied Opportunity Zone, TIF District and Enterprise Zone.
� Ample off-street parking.� Amazing setbacks on the 2nd floor, with city views.� Solid core and shell of building on 1st and 2nd floors.� Location bodes well for service and logistical needs.� Emerging neighborhood and portion of Humboldt Park. Active
projects of note:� Recently approved $95m, 30.4 Acre Chicago Police & Fire
Training Facility. Facilities to include 600,000 Sq.Ft. of indoor & outdoor training facilities.
� Less than 2.5 miles from ICNC - Hatchery: Food and beverage incubator.
� Building’s efficient layout ideal for distribution, production line, and high velocity shipping & receiving.
� Enclosed and secure garage leads to large shipping / receiving area and flows into main manufacturing / production area.
� Existing build out includes private offices, stock room and additional auxiliary space.
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INVESTMENTHIGHLIGHTS
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PROPERTY SPECIFICATIONS
Building Address 4435 W Rice St
Property Address 4435 -4447 W Rice St
Parcel ID Numbers 4447 W Rice St: 16-03-321-0054443 W Rice St: 16-03-321-0064441 W Rice St: 16-03-321-0074439 W Rice St: 16-03-321-0084437 W Rice St: 16-03-321-009
Total Land Size 15,425 Sq.Ft
Lot Dimensions 123.5’ x 125.0’
Total Building Size 22,800 Sq.Ft.1st Floor: Est.15,425 Sq. Ft. 2nd Floor: Est. 7,375 Sq.Ft.
Power 220 AMP/3-Phase
Clear Heights Est. 12’-14’ (1st and 2nd Floors)
Column Spacing Est. 18’-20’
Loading One (1) Front Load Drive-In
Sprinklered Yes
Zoning PMD 9
Property Taxes (2018) $11,769.36
Property Classification 593
Property Taxcode 77026
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Top Floor
First Floor
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W. GRAND AVE.
W. CHICAGO AVE.
W. DIVISION ST.
W. NORTH AVE.
N. P
ULA
SKI R
D.
N. C
ICER
O A
VE.
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WEST HUMBOLDT PARK
N. K
EDZ
IE AV
E.
N. W
ESTERN
AV
E.
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HUMBOLDT PARK
Humboldt Park is known forits dynamic social and ethnic demographic change over the years. It is home to the 207-acre park of the same name andadjacent to the community - HumboldtPark. Every year, Humboldt Park hosts amonth long celebration of the rich andancient Puerto Rican culture during FiestasPuertorriqueñas. West Humboldt Park is ahistorically welcoming neighborhood andenjoys a reputation as a melting pot ofcultures from all over the world. Low-key,humble, and happily off the radar, WestHumboldt Park is for community-centeredliving.
I-90 4.1 MiI-290 2.1 MiI-55 6.0 MiDowntown CBD 20 MinO’Hare Airport 30 MinMidway Airport 30 Min
Class II RoutesChicago Ave 0.1 MiCicero Ave 0.5 MiGrand Ave 2.1 Mi
Class III Routes Kostner Ave 0.1 MiPulaski Rd 0.7 MiDivision St 0.8 MiLake St 0.9 MiDivision St 1.0 Mi
Garfield Park
GARFIELD PARK
WEST TOWN
The Hatchery
HumboldtPark
HERMOSA PALMER SQUARE
CPD & CFD Training Facility
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QUALIFIED OPPORTUNITY ZONE
Established in the Federal Tax Cuts and Jobs Act of 2017, the State of Illinois has
nominated 321 Opportunity Zones. The Opportunity Zones program encourages
long-term investment and job creation in low-income areas of the state, by
allowing investors to re-invest unrealized capital gains in designated census tracts.
The portfolio of 2240 S. Wabash Ave. & 2302-2332 S. Wabash Ave. is located within
Opportunity Zone Tract 17031841000, consisting of the primary boundaries of W.
Cermak Rd. to the north, S. Federal St. to the west, E. 26th St. to the south, and Lake
Michigan to the east.
Opportunity Zone Highlights
• Opportunity Zones provide a tax incentive for investors to re-invest their unrealized capital gains into dedicated Opportunity Funds.
• Temporary Deferral - A temporary deferral of inclusion in taxable
income for capital gains reinvested into a Qualified Opportunity Fund Zone. The deferred gain must be recognized on the earlier of the date on which the opportunity zone investment is disposed of or December 31, 2026.
• Step-Up In Basis - A step-up in basis for capital gains reinvested in a
Qualified Opportunity Fund Zone. The basis is increased by 10% in
the investment in the Opportunity Fund is held by the tax payer for at
least 5 years and by an additional 5% if held for at least 7 years.
• Permanent Exclusion - A permanent exclusion from taxable income of capital gains from the sale or exchange of an investment in a Qualified Opportunity Fund Zone if the investment is held for at least 10 years. This exclusion only applied to gains accrued after an investment in an Opportunity Fund.
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CHICAGO | 770 N Halsted Street, Suite 206, Chicago, IL
HEADQUARTERS | One Lincoln Centre, Suite 120, Oakbrook Terrace, IL
Will Thurman | Associate404-697-0678
Doug Hayes | Principal312.766.4283
Zach Pruitt | Principal312.766.4289