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SVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607 SALE BROCHURE
PHYSICIANSIMMEDIATE CARE391 S. BOLINGBROOK DRIVEBOLINGBROOK, IL 60440
Nicholas ManganaisVice [email protected]
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 2
The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be usedfor any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent ofthe SVN® Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property.
The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person isauthorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receivingthese materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor.
Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the informationcontained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. ThisOffering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct,and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representationsor warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or madeavailable to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fullyexecuted and delivered Real Estate Purchase Agreement between it and Owner.
The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor anyof their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this OfferingBrochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property.
This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, toreject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with anyentity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the OfferingBrochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on termsacceptable to Owner, in Owner’s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing andagreed to release the Owner and the SVN Advisor from any liability with respect thereto.
To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any suchcorrespondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospectivepurchaser proceeds at its own risk.
Disclaimer
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 3
The subject property is a free-standing, 8050-square foot building built in 2002 and totally renovated in2009 for the tenant Physicians Immediate Care. The property is located at the northwest corner of thelighted intersection of Route 53 and Remington Boulevard in Bolingbrook, Illinois, Will County and theproperty shares the site with a free standing Starbuck's building. Route 53 is a highly traveled road andthe property is very close to the newly built Adventist Hospital. The tenant Physicians Immediate Care LLCof Delaware lease is for 15 years starting in 2009 and ending on Dec 17,2024. The NNN lease calls for twopercent annual rent increases starting in year 2012. There are four, five-year options to renew that alsocalls for two percent annual rent bumps.Physicians Urgent Care, also known as Physicians Immediate Care, is a Midwest leader in urgent care andoccupational health services with 40 locations in three states. No appointments are required and mostclinics are open seven days a week, up to 12 hours a day, to treat non-life threatening illnesses andinjuries. Their clinics are staffed by a doctor, or physician assistant under the supervision of a doctor, whoprovides quality service, and effectively diagnoses and treats a variety of injuries and ailments
PROPERPROPERTTY OY OVERVERVIEWVIEW
The property is located at the northwest corner of the lighted intersection of Route 53 and RemingtonBoulevard in Bolingbrook, Illinois, Will County and the property shares the site with a free standingStarbuck's building. Route 53 is a highly traveled road and the property is very close to the newly builtAdventist Hospital.
LLOCOCAATION OTION OVERVERVIEWVIEW
Property Description
SSALE HIGHLIGHTSALE HIGHLIGHTS
• NNN Single Tenant Medical Office Property Totally Renovated in 2009
• 15-year Lease Ending in December of 2024 with Two Percent Annual Rent
Bumps
• Four, Five-Year Options with Two Percent Annual Rent Bumps
• Very Close to the New Adventist Bolingbrook Hospital
• The Property is Located in Will County
• Property Shares Lot with Starbucks Free Standing Drive Through Building
• Property Located at the Lighted Intersection of Route 53 and Remington
Boulevard
• High Traffic of 36,000 Vehicles Per Day on Route 53
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 4
Complete Highlights
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 5
Tenant Financial News
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 6
Tenant Fiancial News
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 7
Tenant Overview
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 8
Additional Photos
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 9
Additional Photos- Adjacent Property
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 10
Exterior Photos
INVESINVESTMENT OTMENT OVERVERVIEWVIEW
Price $4,325,000Price per SF $537.27CAP Rate 7.0%Cash-on-Cash Return (yr 1) 6.99 %Total Return (yr 1) $302,404Debt Coverage Ratio -
OPERAOPERATING DTING DAATTAA
Gross Scheduled Income $302,404Other Income -Total Scheduled Income $302,404Vacancy Cost $302,404Gross Income -Operating Expenses -Net Operating Income $302,404Pre-Tax Cash Flow $302,404
FINANCING DFINANCING DAATTAA
Down Payment $4,325,000
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 11
Financial Summary
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 12
TENANTTENANTNAMENAME
UNITUNITSIZE (SIZE (SF)SF)
LEALEASESESSTTARARTT
LEALEASESEENDEND
LEALEASESESSTTARARTT
ANNUANNUALALRENTRENT
% OF% OFGLAGLA
PRICEPRICEPER SFPER SF/YR/YR CCOMMENTSOMMENTS
Physicians Immediate Care 8,050 12/17/2009 12/17/2024 Current $302,404 100.0 $37.57
TTootals/Atals/Avvereragesages 8,8,050050 $302,404$302,404 $37$37.57.57 RRenent It Is Fs Frrom 9om 9/1/17 T/1/17 To 8/1/18o 8/1/18
Enter comments here
Rent Roll
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 13
Rent Schedule Increases
SSALE PRICEALE PRICE $4,325,$4,325,000000
LLOCOCAATION INFTION INFORMAORMATIONTION
Building Name Physicians Immediate Care
Street Address 391 S. Bolingbrook Drive
City, State, Zip Bolingbrook, IL 60440
County/Township Will
BUILDING INFBUILDING INFORMAORMATIONTION
Building Size 8,050 SF
Occupancy % 100%
Tenancy Single
Number Of Floors 1
Year Built 2002
Last Renovated 2009
Gross Leasable Area 8,050 SF
Load Factor Yes
Construction Status Existing
Condition Excellent
Walls Drywall
Ceilings Suspended drop ceiling
Floor Coverings Varies
Exterior Walls Face Brick/Vinyl
Office Buildout Yes, as examine rooms
Foundation Concret
PROPERPROPERTTY DETY DETAILSAILS
Property Type Medical Office Building
Property Subtype Free Standing Building
Zoning Commercial
Lot Size 1.62 Acres
PPARKING & TRANSPORARKING & TRANSPORTTAATIONTION
Parking Type Surface
Parking Description Parking all on site . Asphalt paved
UTILITIES & AMENITIESUTILITIES & AMENITIES
Handicap Access Yes
Central HVAC Roof Top
Restrooms Yes
Landscaping Mature
Utilities Description All to site
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 14
Property Details
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 15
Site Plan
Location Maps
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 16
SUBJESUBJECT PROPERCT PROPERTTYY
391 S. Bolingbrook Drive | Bolingbrook, IL 60440
$4,325,000Sale Price: 1.62 ACLot Size: 2002Year Built:
8,050 SFBuilding SF: $537.27Price PSF: 7.0%Cap:
$302,404NOI:
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PHYPHYSICIANS IMMEDIASICIANS IMMEDIATE CTE CAREARE
800 North Larkin Avenue | Joliet, IL 60435
$2,000,000Sale Price: 0 ACLot Size: 2014Year Built:
3,500 SFBuilding SF: $571.43Price PSF: 5.63%CAP:
09/02/2014Closed: 100%Occupancy: $112,600NOI:
Single tenant medical office property occupied by Physicians Immediate Care.
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PHYPHYSICIANS IMMEDIASICIANS IMMEDIATE CTE CAREARE
350 North Kinzie Avenue | Bradley, IL 60915
$2,150,000Sale Price: 0 ACLot Size: 2015Year Built:
4,192 SFBuilding SF: $512.88Price PSF: 6.05%CAP:
11/06/2015Closed: 100%Occupancy: $130,075NOI:
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PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 17
Sale Comps
33
PHYPHYSICIANS IMMEDIASICIANS IMMEDIATE CTE CAREARE
2680 Escalade Way | Warsaw, IN 46582
$1,748,320Sale Price: 0 ACLot Size: 2014Year Built:
4,250 SFBuilding SF: $411.37Price PSF: 6.63%CAP:
03/05/2015Closed: 100%Occupancy: $115,913NOI:
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44
NORNORTHWESTHWEST MEMORIAL HOSPITT MEMORIAL HOSPITALAL
350 South Waukegan Road | Deerfield, IL 60015
$7,250,000Sale Price: 0 ACLot Size: 2013Year Built:
16,737 SFBuilding SF: $433.17Price PSF: 5.56%CAP:
03/11/2014Closed: 100%Occupancy: $403,100NOI:
44
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 18
Sale Comps
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 19
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SUBJESUBJECT PROPERCT PROPERTTYY PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS
PhPhyysiciasicians Ins Immediammediatte Cae Carree391 S. Bolingbrook DriveBolingbrook, IL 60440
$4,325,000 8,050 SF $537.27 7.0% 1
SSALE CALE COMPSOMPS PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS CLCLOSEOSE
PhPhyysiciasicians Ins Immediammediatte Cae Carree800 North Larkin AvenueJoliet, IL 60435
$2,000,000 3,500 SF $571.43 5.63% 1 09/02/2014
PhPhyysiciasicians Ins Immediammediatte Cae Carree350 North Kinzie AvenueBradley, IL 60915
$2,150,000 4,192 SF $512.88 6.05% 1 11/06/2015
PhPhyysiciasicians Ins Immediammediatte Cae Carree2680 Escalade WayWarsaw, IN 46582
$1,748,320 4,250 SF $411.37 6.63% 1 03/05/2015
NNororththwwesest Mt Memorial Hemorial Hospitalospital350 South Waukegan RoadDeerfield, IL 60015
$7,250,000 16,737 SF $433.17 5.56% - 03/11/2014
PRICEPRICE BLDG SFBLDG SF PRICE/SFPRICE/SF CCAPAP # OF UNITS# OF UNITS CLCLOSEOSE
TTootals/Atals/Avvereragesages $3,287$3,287,,080080 77,,170 SF170 SF $458.45$458.45 5.5.97%97% 11
Sale Comps Summary
391 S. Bolingbrook Drive | Bolingbrook, IL 60440SUBJESUBJECT PROPERCT PROPERTTYY
11 800 North Larkin AvenueJoliet, IL 60435
PHYPHYSICIANS IMMEDIASICIANS IMMEDIATE CTE CAREARE22 350 North Kinzie Avenue
Bradley, IL 60915
PHYPHYSICIANS IMMEDIASICIANS IMMEDIATE CTE CAREARE33 2680 Escalade Way
Warsaw, IN 46582
PHYPHYSICIANS IMMEDIASICIANS IMMEDIATE CTE CAREARE44
350 South Waukegan RoadDeerfield, IL 60015
NORNORTHWESTHWEST MEMORIALT MEMORIALHOSPITHOSPITALAL
PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 20
Sale Comps Map
Physicians Immediate Care
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Aerial Map
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Retailer Map
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POPULAPOPULATIONTION 3 MILES3 MILES 5 MILES5 MILES 10 MILES10 MILES
Total population 70,071 179,326 700,348
Median age 32.6 34.9 37.5
Median age (male) 31.6 33.9 36.4
Median age (Female) 33.8 35.9 38.6
HOUSEHOLDS & INCHOUSEHOLDS & INCOMEOME 3 MILES3 MILES 5 MILES5 MILES 10 MILES10 MILES
Total households 21,736 58,098 246,775
# of persons per HH 3.2 3.1 2.8
Average HH income $81,245 $90,716 $101,509
Average house value $277,407 $327,320 $366,368
* Demographic data derived from 2010 US Census
Demographics Map