+ All Categories
Home > Documents > PHYSICIANS IMMEDIATE CARE - LoopNetimages2.loopnet.com/d2/_eBuO-ZDr6o_Gt6GXwTqwcdEYldWey68eC5… ·...

PHYSICIANS IMMEDIATE CARE - LoopNetimages2.loopnet.com/d2/_eBuO-ZDr6o_Gt6GXwTqwcdEYldWey68eC5… ·...

Date post: 18-Jul-2018
Category:
Upload: lyliem
View: 214 times
Download: 0 times
Share this document with a friend
24
SVN | Chicago Commercial | 940 West Adams Street, Suite 200, Chicago, IL 60607 SALE BROCHURE PHYSICIANS IMMEDIATE CARE 391 S. BOLINGBROOK DRIVE BOLINGBROOK, IL 60440 Nicholas Manganais Vice President 312.756.7332 [email protected]
Transcript

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:

11

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.

11

22

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:

22

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:

33

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

11

22

33

44

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

PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 21

Aerial Map

PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 22

Retailer Map

PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 23

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

PHYSICIANS IMMEDIATE CARE | 391 S. BOLINGBROOK DRIVE, BOLINGBROOK, IL 60440 SVN | Chicago Commercial | Page 24

Traffic Map


Recommended