7907 s laflin st.images4.loopnet.com/d2/_xx85vkywpensc_asqkdnd_xfwwhm2l1...should be discussed by...

PRESENTED BY:

INTERRA REALTY T [email protected]

7907 S LAFLIN ST.CHICAGO, IL

MORE INFORMATION AVAILABLE ONLINE:

640 North La Salle Street, Suite 200Chicago, IL 60654

CONFIDENTIAL OFFERING MEMORANDUM

www.interrarealty.com

Cover Page 1

Table of Contents 2

Executive Summary 3

Property Description 4

Property Details 5

Complete Highlights 6

Additional Photos 7

Additional Photos 8

Location Maps 9

Rent Roll 10

Income & Expenses 11

Financial Summary 12

Rent Comps 13

Rent Comps Map 16

Demographics Report 17

Demographics Map 18

Back Page 19

A M U LT I FA M I LY I N V E S T M E N T O P P O R T U N I T Y

7907 S LAFLIN ST. | 19 UNITS | CHICAGO, IL

TABLE OF CONTENTS

All materials and information received or derived from Interra Realty its directors,officers, agents, advisors, affiliates and/or any third party sources are providedwithout representation or warranty as to completeness , veracity, or accuracy,condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance ofthe property, projected financial performance of the property for any party’sintended use or any and all other matters.

Neither Interra Realty its directors, officers, agents, advisors, or affiliates makesany representation or warranty, express or implied, as to accuracy orcompleteness of the any materials or information provided, derived, or received.Materials and information from any source, whether written or verbal, that may befurnished for review are not a substitute for a party’s active conduct of its own duediligence to determine these and other matters of significance to such party.Interra Realty will not investigate or verify any such matters or conduct duediligence for a party unless otherwise agreed in writing.

EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATIONAND DUE DILIGENCE.

Any party contemplating or under contract or in escrow for a transaction is urgedto verify all information and to conduct their own inspections and investigationsincluding through appropriate third party independent professionals selected bysuch party. All financial data should be verified by the party including by obtainingand reading applicable documents and reports and consulting appropriateindependent professionals. Interra Realty makes no warranties and/orrepresentations regarding the veracity, completeness, or relevance of any financialdata or assumptions. Interra Realty does not serve as a financial advisor to anyparty regarding any proposed transaction. All data and assumptions regardingfinancial performance, including that used for financial modeling purposes, maydiffer from actual data or performance. Any estimates of market rents and/orprojected rents that may be provided to a party do not necessarily mean that rentscan be established at or increased to that level. Parties must evaluate anyapplicable contractual and governmental limitations as well as marketconditions,vacancy factors and other issues in order to determine rents from or forthe property.

Legal questions should be discussed by the party with an attorney. Tax questionsshould be discussed by the party with a certified public accountant or tax attorney.Title questions should be discussed by the party with a title officer or attorney.Questions regarding the condition of the property and whether the propertycomplies with applicable governmental requirements should be discussed by theparty with appropriate engineers, architects, contractors, other consultants andgovernmental agencies. All properties and services are marketed by Interra Realtyin compliance with all applicable fair housing and equal opportunity laws.

2 WWW.INTERRAREALTY.COMMORE INFORMATION ONLINE:

This information has been secured from sources we believe to be reliable, but we make no representations nor warranties, express nor implied as to the accuracy of the information. References to squarefootage are approximate. Buyer must verify the information and bears all risks for any inaccuracies.





PROPERTY OVERVIEWInterra Realty, LLC has been exclusively engaged to market 7907 S. Laflin St. for sale.Located in Chicago's Gresham neigborhood, The property is a 19 unit mixed usebuilding that features a desirable mix of unit types. The asset presents qualified investorswith the opportunity to acquire an asset with substantial upside, both physically andoperationally.

PROPERTY HIGHLIGHTS

• New Windows, Two New Hot Water Tanks, New 800 AMP Electrical Service,

Individual Heat (Mix of Furnace and Electric Baseboard)

• Unit Mix features Two (2) Ground Floor Commercial Spaces, Eight (8) Studios,

Seven (7) 1 BR/ 1 BA, and (2) Large 1 BR/1 BA units with the potential to take on

an additional bedroom

• Opportunity to add substantial value via renovation and increased leasing activity

MULTIFAMILY PROPERTY FOR SALE

OFFERING SUMMARY

Building Size: 14,850 SF

Year Built: 1928

Market: Chicago

Sub Market: Auburn Gresham

Cross Streets: South Laflin Street &West 79th Street

EXECUTIVE SUMMARY



PROPERTY OVERVIEWInterra Realty, LLC has been exclusively engaged to market 7907S. Laflin St. for sale. Located in Chicago's Gresham neigborhood,The property is a 19 unit mixed use building that features adesirable mix of unit types. The asset presents qualified investorswith the opportunity to acquire an asset with substantial upside,both physically and operationally.

LOCATION OVERVIEW7907 S. Laflin St. is located in the Auburn Greshamneighborhood, which is situated on the far south side of Chicagojust nine miles south of Chicago’s Loop. Auburn Gresham isbounded by 75th Street on the north, 87th Street on the south,Halsted on the east and Western on the west.

Auburn Gresham was the original location of the South Side IrishParade before it was relocated to the Beverly neighborhoodfarther southwest of the city. St. Sabina Church is located in theAuburn Gresham neighborhood. The church and ReverendMichael Pfleger have played pivotal roles in helping transform thecommunity, with new housing and store fronts opening up in theneighborhood in recent years. As of 2007, one of the largest newsingle-family housing developments in Chicago was completed atWest 87th St. and South Parnell Ave., in the southeast corner ofAuburn Gresham. Furthermore, Auburn Gresham is home to thefirst urban S.O.S. Children’s Village in the United States.



PROPERTY DESCRIPTION



PROPERTY DETAILS



PROPERTY NAME: 7907 S. Laflin

PROPERTY ADDRESS: 7907 S Laflin St.Chicago, IL 60620

APN: 20-32-102-001-0000

LOT SIZE: 0.0 AC

BUILDING SIZE: 14,850 SF

YEAR BUILT: 1928

NUMBER OF STORIES: 3

NUMBER OF UNITS: 19



PROPERTY HIGHLIGHTS

• New Windows, Two New Hot Water Tanks, New 800 AMPElectrical Service, Individual Heat (Mix of Furnace and ElectricBaseboard)

• Unit Mix features Two (2) Ground Floor Commercial Spaces,Eight (8) Studios, Seven (7) 1 BR/ 1 BA, and (2) Large 1 BR/1BA units with the potential to take on an additional bedroom

• Opportunity to add substantial value via renovation andincreased leasing activity



COMPLETE HIGHLIGHTS





ADDITIONAL PHOTOS





LOCATION MAPS



UNITNUMBER

UNITBED

UNITBATH

CURRENTRENT

LEASENOTES

MARKETRENT

101 1 1 $450 - $750

201 1 1 $500 - $750

202 1 1 $525 - $750

203* 2 1 $950 VACANT $950

204 1 1 $750 VACANT $750

205 0 1 $475 - $600

206 0 1 $475 - $600

207 0 1 $500 - $600

208 0 1 $350 - $600

301 1 1 $750 VACANT $750

302 1 1 $750 VACANT $750

303* 2 1 $950 VACANT $950

304 1 1 $750 VACANT $750

305 0 1 $600 VACANT $600

306 0 1 $600 VACANT $600

307 0 1 $600 VACANT $600

308 0 1 $600 VACANT $600

Retail - - $1,300 - $1,300

Retail - - $1,300 VACANT $1,300

Totals/Averages $13,175 $14,550

*Indicates unit with potential to increase bedroom count from 1 to 2



RENT ROLL



INCOME SUMMARY CURRENT PRO-FORMA MARKET

Scheduled Gross Income $158,100 $174,600

Less Vacancy (10%) -$15,810 -$17,460

GROSS INCOME $142,290 $157,140

EXPENSE SUMMARY CURRENT PRO-FORMA MARKET

Taxes (2016) $9,568 $14,288

Insurance* $5,415 $5,415

Gas* $2,850 $2,850

Electric* $5,100 $5,100

Water* $5,484 $5,484

Trash/ Scavenger* $1,000 $1,000

Management (5% SGCI)* $7,114 $7,938

Janitorial* $6,650 $6,650

Turnover Costs* $6,650 $6,650

Misc. & Reserves* $6,650 $6,650

GROSS EXPENSES $56,481 $62,025

NET OPERATING INCOME $85,809 $95,115

*Broker Pro-FormaPro-Forma column tax represents 9% of GCI



INCOME & EXPENSES



INVESTMENT OVERVIEW CURRENT PRO-FORMA MARKET

Price $410,000 $410,000

Price per Unit $21,578 $21,578

GRM 2.6 2.4

CAP Rate 20.9% 23.2%

Cash-on-Cash Return (yr 1) 55.58 % 63.14 %

Total Return (yr 1) $72,988 $82,294

Debt Coverage Ratio 4.92 5.45

OPERATING DATA CURRENT PRO-FORMA MARKET

Gross Scheduled Income $159,900 $174,600

Other Income - -

Total Scheduled Income $158,100 $174,600

Vacancy Cost $15,990 $17,640

Gross Income $142,290 $157,140

Operating Expenses $56,481 $62,025

Net Operating Income $85,809 $95,115

Pre-Tax Cash Flow $68,359 $77,665

FINANCING DATA CURRENT PRO-FORMA MARKET

Down Payment $123,000 $123,000

Loan Amount $287,000 $287,000

Debt Service $17,450 $17,450

Debt Service Monthly $1,454 $1,454

Principal Reduction (yr 1) $4,629 $4,629



FINANCIAL SUMMARY



SUBJECT PROPERTY

Chicago, IL 606207907 S Laflin St.

1928Year Built: 0.0 ACLot Size:

19No. Units: $0.73Avg. Rent/SF:

$573Avg. Rent: 781 SFAvg. Size:

UNIT TYPE # UNITS % OF SIZE SF

Retail 2 10.5 2,500

Studio 8 42.1 500

1br/1ba 9 47.4 650

TOTAL/AVG 19 100% 781

1735 W. 79TH ST.

Chicago, IL 606201739 W. 79th St.

1

15,000 SFBldg Size:

UNIT TYPE RENT

Studio $600

1 BR/ 1 BA $750

2 BR/ 1 BA $900Liquid error: no implicit conversion from nil to integer

Recently remodeled units - feature free internet, security cameras,free heat and eat-in kitchen.

1



RENT COMPS



7944 S. PAULINA ST.

Chicago, IL 606207944 S. Paulina St.

2

15,000 SFBldg Size:

UNIT TYPE RENT

Studio $600

1 BR/ 1 BA $735


Recently remodeled -free internet, on-site laundry, security cameras,dining room, hardwood floors and free heat.

2 8057 S. MARSHFIELD

Chicago, IL 606208057 S. Marshfield

3

1926Year Built: 12,000 SFBldg Size:

19No. Units: 95%Occupancy:

UNIT TYPE RENT

Studio $600

1BR / 1 BA $725

2BR / 2BA $900Liquid error: no implicit conversion from nil to integer

Rehabbed units including new appliances and hardwood floors. Heatincluded in rent.

3



RENT COMPS



7705 S. LAFLIN ST.

Chicago, IL 606207705 S. Laflin St.

4

15,000 SFBldg Size:

UNIT TYPE RENT

1 BR/ 1 BA $750


Gut Rehabbed Units - Cosmetic Upgrades include TileBacksplashes, SS Appliances

4



RENT COMPS



7907 S Laflin St. | Chicago, IL 60620SUBJECT PROPERTY

1 1739 W. 79th St.Chicago, IL 60620

1735 W. 79TH ST. 2 7944 S. Paulina St.Chicago, IL 60620

7944 S. PAULINA ST. 3 8057 S. MarshfieldChicago, IL 60620

8057 S. MARSHFIELD

4 7705 S. Laflin St.Chicago, IL 60620

7705 S. LAFLIN ST.



RENT COMPS MAP



* Demographic data derived from 2010 US Census

0.5 MILES 1 MILE 1.5 MILES

Total households 4,753 16,028 31,586

Total persons per hh 3.0 3.0 3.0

Average hh income $39,952 $42,991 $43,928

Average house value $165,430 $171,710 $194,433

0.5 MILES 1 MILE 1.5 MILES

Total population 14,155 48,184 95,249

Median age 31.9 34.6 34.5

Median age (male) 25.8 29.1 29.0

Median age (female) 37.8 38.6 38.8



DEMOGRAPHICS REPORT



* Demographic data derived from 2010 US Census

POPULATION 0.5 MILES 1 MILE 1.5 MILESTOTAL POPULATION 14,155 48,184 95,249MEDIAN AGE 31.9 34.6 34.5MEDIAN AGE (MALE) 25.8 29.1 29.0MEDIAN AGE (FEMALE) 37.8 38.6 38.8

HOUSEHOLDS & INCOME 0.5 MILES 1 MILE 1.5 MILESTOTAL HOUSEHOLDS 4,753 16,028 31,586# OF PERSONS PER HH 3.0 3.0 3.0AVERAGE HH INCOME $39,952 $42,991 $43,928AVERAGE HOUSE VALUE $165,430 $171,710 $194,433



DEMOGRAPHICS MAP

MORE INFORMATION AVAILABLE ONLINE:

640 North La Salle Street, Suite 200Chicago, IL 60654

www.interrarealty.com

7907 S LAFLIN S7907 S LAFLIN STT..CHICAGO, IL

PRESENTED BY:

INTERRA REALTY T [email protected]

7907 s laflin st.images4.loopnet.com/d2/_xx85vkywpensc_asqkdnd_xfwwhm2l1...should be discussed by...

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