ashley stewart , luvstyle eauty 2935 w 159th street ......ashley stewart is an american plus size...
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Ashley Stewart , LuvStyle Beauty
2935 W 159th Street ,
Markham, IL 60428
312-217-9917
www.AreaSold.com
VLADIMIR GANZ
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OF C
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 3
REGIONAL OVERVIEW 12
AGENT REPRESENTATION 13
EXECUTIVE SUMMARY
3
EXECUTIVE SUMMARY
OFFERING SUMMARY Ascend Real Estate Advisors LLC is pleased to provide the following Offering Memorandum
pertaining to the exclusive marketing and sale of 2935 W 159th Street , A 40% occupied
+/- 16,528 square foot Out Lot property located in Markham, Illinois. This asset is being sold on
an “As-IS/ Where-Is” basis with no representations/warranties from the Seller.
ASKING PRICE
$ 1,800,000 (4.0% Cap)
TERMS Owner Financing Available
ADDRESS 2935 W 159th Street , Markham, IL 60428
COUNTY Cook County
TOTAL SIZE +/- 16,528
Ashley Stewart +/- 5,074
LuvStyle Beauty +/- 1,426
VACANT +/- 10,028
SITE SIZE +/- .53 AC
PARCEL ID 28-24-101-037-0000
PARKING Cross Easements with shopping center
OCCUPANCY 40%
LEASE COMMENCEMENT Ashley Stewart 11/1/05
LuvStyle Beauty 5/1/2016
LEASE EXPIRE Ashley Stewart 6/30/2020
LuvStyle Beauty 4/30/2019
THE OFFERING PROCESS
TRANSACTIONS GUIDELINES
This property is being sold on an "As-is/Where-is" basis with no representations or warranties from
the Seller. The Seller is unable to joint venture or sell under land contract. Source of capital must
accompany all offers in the form of a proof of funds document that can be verified.
Seller financing is not available.
All offers must be presented in writing to the Agent and must include the following:
• Price
• Source od capital and details of any approvals, if required
• Outline of proposed schedule of due diligence and closing
• Description of any due diligences requirements
• The amount of earnest money deposit: minimum of 5% of the purchase price is required.
• Description of any physical or financial assumptions that impact the price offered.
A prospective purchaser will be selected by the Owner with sole and absolute discretion on the
basis of a vareity of factors, including but not limited to:
• Offer price
• Financial strength
• Level of discretion to invest funds
• Ability to close in a timely fashion
• Experience in closing similar transactions
• Number and list of contingencies, if any
• Level of property due diligence completed and thoroughness of property
DISPOSITION TIMELINE
The timeline and process for disposition is as follows:
• Following distribution of the offering materials, the Agent will be available to answer any
questions related to the offering. Prospective purchasers will be able to schedule property visits to
perform site inspections or other due diligence prior to the call for offers date. Property tours will
be conducted by appointment only.
• Prospective purchasers will be given advance notice of the due date for all offers/bids at the
Agent's sole and absolute discretion. Offers may be presented at any time. The seller reserves the
right to accept or decline an offer at any time on or before the call for offers date.
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OFFERING SUMMARY The investment opportunity presented within this Offering Memorandum is comprised of a
+/- 16,528 square foot freestanding retail property located in Markham, IL and leased to Ashley
Stewart, LuvStyle Beauty including a 10,028 square foot vacant space on a NNN basis with minimal
landlord responsibilities.
FINANCIAL SUMMARY
ASKING PRICE $1,800,000.00 (4% Cap)
ANNUAL RENT $71,653.00 NNN annually – 2 – 5 year options with
increases
LEASE EXPIRATION Ashley Stewart 6/30/2020
LuvStyle Beauty 4/30/2019
CURRENT OCCUPANCY 40%
INVESTMENT HIGHLIGHTS The opportunity being presented herein gives potential investors the ability to
acquire a multi-tenant building NNN leased to Ashley Stewart , LuvStyle Beauty
and a 10,028 vacant space “with stabilized”.
Other highlights include:
• NNN investment property including Ashley Stewart and LuvStyle Beauty
• The building has a vacant 10,028 sf space right on 159th street that can be
divided
• Great building for an owner user
• Ashley Stewart is a solid national tenant with locations all over the country
• Tremendous upside to this asset
• Located on busy 159th street in between I-57 and I -294
• Situated in front of Canterbury Plaza a 265,000 sf Neighborhood center.
• National tenants include CitiTrends, Ashley Stewart, Fairplay Foods, Dollar
Tree, Charter Fitness, KFC, Rent-A-Center, Subway and many more.
• Strong retail corridor with traffic counts in excess of 40,000 VPD.
PROPERTY OVERVIEW 2935 159th Street is 40% occupied +/- 16,528 square feet Multi-tenant retail property leased to Ashley
Stewart, LuvStyle Beauty including a vacant 10,028 sf space . The subject property is located in Markham,
IL. Markham is located between two major interstates (I-57 and I 294) and it is necessary to pass through
Markham to get neighboring communities.
The property is located at a hard corner at the intersection of Kedzie Avenue and 159th Street and is
surrounded by retail. The subject property sits in an out lot in front of a 265,000 square foot shopping
center.
Kedzie Ave and 159th Street is the main intersection of Markham with over 40,000 vehicles passing
through per day. Residential dwellings surround this major intersection with through traffic running to
adjacent communities off of the main highways.
Ashley Stewart is an American plus size women's clothing company and lifestyle brand, which was founded
in 1991. The name Ashley Stewart was inspired by Laura Ashley and Martha Stewart, who the company
saw as icons of upscale Americana.
Population in this trade area is 93,000 people within a 3 mile radius with an average house hold income of
$62,660
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PARCEL 28-24-101-037-0000
ASHLEY STEWART
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LUVSTYLE BEAUTY
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GREATER AREA MAP
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ASHLEY STEWART
LUVSTYLE BEAUTY
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TRADE AREA DEMOGRAPHICS
MARKHAM ILLINOIS 3 MILES 5 MILES 10 MILES
2017 POPULATION 93,093 180,903 787,653
2017 AVERAGE HHI $ 62,660 $ 63,726 57,396
2017 MEDIAN AGE 38.1 40.2 41
TRADE AREA DESCRIPTION
Markham, IL has a population of 93,093 with in a 3 mile
radius and is the 3,284th largest city in the United States.
The population density is 2,337 per sq mi which is 951%
higher than the Illinois average and 2480% higher than
the national average. The median age in Markham is 38
which is approximately 1% higher than the Illinois average
of 37. In Markham, 40% of the population over 15 years of
age are married, 92% speak English and 7% speak Spanish.
76% of Markham residents were born in Illinois, 20% were
born out of state, 0% were born outside of the United
States and 4% were foreign born. Markham is situated
between two major highways I-57 and I-294 which gives
the town great access and allure to new businesses.
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REGIONAL OVERVIEW
12
