2 W BUSSE AVENUE / 34 S MAIN STREET KAREN KULCZYCKI, #475-170551
[email protected] (C) 630.330.3352 (O) 312.602.5346
SVN | CHICAGO COMMERCIAL | 940 WEST ADAMS STREET, SUITE 200, CHICAGO, IL 60607
SALE PROPOSAL
PROPERTY INFORMATION
1
Property Summary Location Overview Complete Highlights Additional Photos Additional Photos
LOCATION INFORMATION
2
Regional Map Aerial Photo Aerial Photos
FINANCIAL ANALYSIS
3
Financial Summary Income & Expenses Rent Roll
DEMOGRAPHICS
4
Demographics Report Demographics Map Advisor Bio & Contact 1 Back Page
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SALE PROPOSAL
1 PROPERTY INFORMATION 2 W Busse Ave/34 S Main St Mount Prospect, IL 60056
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
Property Summary
SALE PRICE
$1,550,000
OFFERING SUMMARY Cap Rate:
9.04%
NOI:
$140,079
Lot Size:
0.1 Acres
Year Built: Building Size: Renovated: Zoning:
1913 6,200 SF 2017 B5C - Central Commercial Core
Market: Submarket: Price / SF:
Schaumburg Northwest $250.00
PROPERTY OVERVIEW Introducing 2 West Busse Avenue / 34 South Main Street, a +/- 6,200 square foot fully equipped Sports Bar/Restaurant is an investment, owner/user opportunity, in the city of Mount Prospect, Cook County, Illinois. This multi-story design building currently operated by Brick City Tavern had extensive renovations in 2017 with a customized bar that includes 24 tap lines, surrounding television media matrix, 1,100 square foot kitchen on the lower level, and 5,100 square feet of restaurant, private dining area, and permitted outdoor patio. Great location in the development area called the "Entertainment Triangle". Inside, the upper floor has accommodations for 45 guests and is used for overflow, banquets, and private parties while the main dining downstairs can accommodate 250 guests. Plenty of on-street and structure garage parking.
PROPERTY HIGHLIGHTS • Owner/user Investment Property with Business for Sale • +/- 6,200 SF Sports Bar / Restaurant • Video Gaming Permit (applied for) • Located in the Heart of Downtown Mount Prospect • 2 Story with Private banquet area • Extensive renovations in 2017 • Occupancy for 295 • Outdoor Patio for 40 people • Ample parking on-street and parking garage
B5CCentral Commercial 2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN• ST,Zone MOUNT PROSPECT, IL 60056
Core
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
• Metra commuter stop steps away
• A Highlight in the "Entertainment Triangle" Development area
Location Overview
LOCATION OVERVIEW Incredible location in the heart of downtown Mount Prospect, a northwest Chicago suburb, and steps to the Union Pacific Commuter Metra station. This central district is a new development area termed the "Entertainment Triangle". The Village recently approved the ordinance to allow video gambling entertainment, and at the end of the block, underway is a new development of 73 residential unit complex set for delivery in the summer of 2019 . Phase II of the planned downtown redevelopment includes an additional 330 residential units, and a mixed-use property across the street. Mount Prospect is a village in Elk Grove and Wheeling Townships in Cook County, Illinois, about twenty-two miles from downtown Chicago, four miles from Interstate I-90, O'Hare International Airport, and accessible from all neighboring communities.
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Complete Highlights
SALE HIGHLIGHTS • Owner/user Investment Property with Business for Sale • +/- 6,200 SF Sports Bar / Restaurant • Video Gaming Permit (applied for) • Located in the Heart of Downtown Mount Prospect • 2 Story with Private banquet area • Extensive renovations in 2017 • Occupancy for 295 • Outdoor Patio for 40 people • Ample parking on-street and parking garage • Zone B5C- Central Commercial Core • Metra commuter stop steps away • A Highlight in the "Entertainment Triangle" Development area
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
2 LOCATION INFORMATION 2 W Busse Ave/34 S Main St Mount Prospect, IL 60056
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
Regional Map
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Aerial Photo
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Aerial Photos
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
3 FINANCIAL ANALYSIS 2 W Busse Ave/34 S Main St Mount Prospect, IL 60056
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
Financial Summary
INVESTMENT OVERVIEW Price Price per SF CAP Rate
2 W. BUSSE AVENUE / 34 S. MAIN STREET $1,550,000 $250.00 9.0%
Cash-on-Cash Return (yr 1)
19.42 %
Total Return (yr 1)
$78,495
Debt Coverage Ratio
OPERATING DATA Gross Scheduled Income Other Income Total Scheduled Income
1.75
2 W. BUSSE AVENUE / 34 S. MAIN STREET $140,079 $53,169 $193,249
Vacancy Cost
$0
Gross Income
$193,249
Operating Expenses
$53,169
Net Operating Income
$140,079
Pre-Tax Cash Flow
$60,200
FINANCING DATA Down Payment Loan Amount Debt Service Debt Service Monthly Principal Reduction (yr 1)
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
2 W. BUSSE AVENUE / 34 S. MAIN STREET $310,000 $1,240,000 $79,879 $6,656 $18,294
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Income & Expenses
INCOME SUMMARY
2 W. BUSSE AVENUE / 34 S. MAIN STREET
Rent Taxes 2017 (Recapture from Tenant) Insurance (Recapture)
$140,080 $48,469 $4,700
Gross Income
$193,249
EXPENSE SUMMARY
2 W. BUSSE AVENUE / 34 S. MAIN STREET
Taxes (2017) Insurance (2015)
$48,469 $4,700
Gross Expenses
$53,169
Net Operating Income
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
$140,079
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Rent Roll
TENANT
UNIT
UNIT
LEASE
LEASE
LEASE
ANNUAL
% OF
PRICE
NUMBER
SIZE (SF)
START
END
START
RENT
GLA
PER SF/YR
COMMENTS
Brick City Tavern
6,200
09/04/2015
07/31/2020
Current
$140,080
100.0
$22.59
NNN
Totals/Averages
6,200
NAME
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
$140,080
$22.59
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
6 DEMOGRAPHICS 2 W Busse Ave/34 S Main St Mount Prospect, IL 60056
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
Demographics Report
1 MILE
2 MILES
3 MILES
15,870
60,308
128,621
Median age
40.2
41.1
41.0
Median age (male)
39.2
40.0
40.0
Median age (female)
41.6
42.2
41.9
1 MILE
2 MILES
3 MILES
5,949
22,742
49,362
2.7
2.7
2.6
Average HH income
$94,878
$91,447
$86,563
Average house value
$339,879
$347,476
$335,425
Total population
Total households Total persons per HH
* Demographic data derived from 2010 US Census
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Demographics Map
POPULATION
1 MILE
2 MILES
3 MILES
15,870
60,308
128,621
Median age
40.2
41.1
41.0
Median age (Male)
39.2
40.0
40.0
Median age (Female)
41.6
42.2
41.9
1 MILE
2 MILES
3 MILES
5,949
22,742
49,362
# of persons per HH
2.7
2.7
2.6
Average HH income
$94,878
$91,447
$86,563
Average house value
$339,879
$347,476
$335,425
Total population
HOUSEHOLDS & INCOME Total households
* Demographic data derived from 2010 US Census
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Contact Information & Advisor Biography
KAREN KULCZYCKI
PROFESSIONAL BACKGROUND
Advisor
Karen Kulczycki is an advisor with SVN Chicago Commercial, specializing in Office and Industrial investment properties. Karen’s experience ranges from small leasing space to property acquisition and new development throughout the Chicagoland suburban markets. Karen has been successful due to her thorough research and analysis, creating opportunities that maximize profits for her clients. Her focus is on acting in an advisory capacity by developing client relationships through face-to-face communication, measurable results, follow up, and helping owners stay on top of their marketplace.
940 West Adams Street, Suite 200 Chicago, IL 60607 T 312.602.5346 C 630.330.3352
[email protected] IL #475-170551
Prior to joining SVN, Karen specialized in investment sales and acquisitions in healthcare office properties with Marcus & Millichap and a member of the National Association of Industrial and Office Properties (NAIOP). Her strengths included financial analysis, market comparable property evaluation, and exclusive representation on investment sales from the beginning of marketing to the sale and closing of the property. Karen specialized in retail / restaurant tenant and landlord representation with Cornerstone Commercial Partners II and is a member of the International Council of Shopping Centers (ICSC) and the Chicago Restaurant Brokers Association (CRBA). Karen was born and raised in Detroit, Michigan, where she graduated from Wayne State University with a Bachelor’s of Science Degree in Chemistry and Biology. She then attended Chicago’s Northwestern University receiving an accelerated Respiratory Therapy Certification. She has since been a multi-faceted professional with management experience in Pharmaceutical Quality Assurance and Control, Medical Practices, and both Commercial and Residential Real Estate redevelopment. Karen is an Illinois licensed real estate broker and is currently a candidate for CCIM designation.
EDUCATION Wayne State University Northwestern University
MEMBERSHIPS & AFFILIATIONS National Association of Industrial and Office Properties (NAIOP) International Council of Shopping Centers (ICSC)
2 W BUSSE AVENUE / 34 S MAIN STREET | 2 W BUSSE AVE/34 S MAIN ST, MOUNT PROSPECT, IL 60056
SVN | Chicago Commercial
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
940 West Adams Street, Suite 200 Chicago, IL 60607 312.602.5346 svnchicago.com
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