illinois avenue storage eom

ILLINOIS AVENUE STORAGE, INC. 3094 N. 8TH Rd. Wenona, IL61377 Phone: 815.853.0802 E-Mail: [email protected]

JANUARY 2019 EXCLUSIVE OFFERING

JANUARY 2019 EXCLUSIVE OFFERING page 2

CONFIDENTIALITY AGREEMENT

This is a confidential Memorandum intended solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of 3094 N. 8TH Rd., Wenona, IL 61377(the “Property”). �This Memorandum contains selected information pertaining to the Property and does not purport to be a representation of the state of affairs of the Property or the owner of the Property (the “Owner”), to be all-inclusive or to contain all or part of the information which prospective investors may require to evaluate a purchase of real property. All financial projections and information are provided for general reference purposes only and are based on assumptions relating to the general economy, market conditions, competition and other factors beyond the control of the Owner of Illinois Avenue Storage, Inc. Therefore, all projections, assumptions and other information provided and made herein are subject to material variation. All references to acreages, square footages, and other measurements are approximations. Additional information and an opportunity to inspect the Property will be made available to interested and qualified prospective purchasers. In this Memorandum, certain documents, including leases and other materials, are described in summary form. These summaries do not purport to be complete nor necessarily accurate descriptions of the full agreements referenced. Interested parties are expected to review all such summaries and other documents of whatever nature independently and not rely on the contents of this Memorandum in any manner.

Neither the Owner of Illinois Avenue Storage, Inc., nor any of their respective directors, officers, affiliates or representatives make any representation or warranty, expressed or implied, as to the accuracy or completeness of this Memorandum or any of its contents, and no legal commitment or obligation shall arise by reason of your receipt of this Memorandum or use of its contents; and you are to rely solely on your investigations and inspections of the Property in evaluating a possible purchase of the real property. The Owner expressly reserved the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions with any entity at any time with or without notice which may arise as a result of review of this Memorandum. The Owner shall have no legal commitment or obligation to any entity reviewing this Memorandum or making an offer to purchase the Property unless and until written agreement(s) for the purchase of the Property have been fully executed, delivered and approved by the Owner and any conditions to the Owner’s obligations therein have been satisfied or waived. �By receipt of this Memorandum, you agree that this Memorandum and its contents are of a confidential nature, that you will hold and treat it in the strictest confidence and that you will not disclose this Memorandum or any of its contents to any other entity without the prior written authorization of the Owner of Illinois Avenue Storage, Inc. You also agree that you will not use this Memorandum or any of its contents in any manner detrimental to the interest of the Illinois Avenue Storage, Inc. �If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return this Memorandum to Illinois Avenue Storage, Inc.


TABLE OF CONTENTS

PROPERTYSUMMARY 4

OFFERINGSUMMARY 5

PROPERTYPHOTOS 6-7

UNITMIX 8

FINANCIALOVERVIEW 9

CONTACTINFORMATION 10


PROPERTY SUMMARY

Illinois Avenue Storage is a 52 unit, class “A” storage facility in Wenona, Illinois. The property is located approximately 37 miles north of Bloomington-Normal, Illinois on Interstate 39. The property is located on a corner shaped parcel, with frontage along North 8th Rd and IL State Highway 251/IL Route 17, the major thoroughfares in Wenona. Built in 2000, Illinois Avenue Storage property consists of two one-story, steel frame constructed, self-storage buildings, comprising of a total of 16,134 +/- square feet of rental space. Exterior features include pitched roofs with metal roofing, and metal siding exterior walls. The property includes an office area connected to a 2-car garage sized storage unit equipped with electricity and an electric garage door opener. Security highlights include security cameras, exterior lighting, and perimeter fencing with gated keypad access that can be remotely controlled from any location. Illinois Avenue Storage is currently 95% occupied. Priced to sell at $395,000 Illinois Avenue Storage is priced at $24.48/ NRSF. At this selling price, this facility has a 9.3% CAP Rate! Rental Rates have not been raised since 2012, so there is also potential for an increase in revenue with an increase in rent. The new owner will also have great value-add potential with the +/- 2.77 acres available for expansion.


OFFERING SUMMARY

Offering Price $395,000

NRSF $24.48

Total Units 52

Total Acres 3.14

Year Built 2000

Physical Occupancy 95%

Expansion Room 2.77 acres

On-Site office Yes

Location N. 8th Rd & US HWY

251/ IL ROUTE 17

Construction Steel & Metal

Gate Access 24/7

Office Hours By appointment

Tenant Insurance Suggested but not required

Miles to Interstate 39 .5 mi

Employees 1 part time

CAP RATE 9.3%


PROPERTY PHOTOS


UNIT MIX SIZE CURRENT

RATE SQ FT UNIT

TOTAL UNITS

TOTAL SQ FT

OCCUPIED VACANT OCCUPANCY GPR/MONTH GPR/YEAR

5X10 $40.OO 50 9 450 2 7 22% $360.00 $4320 10X10 $50.00 100 4 400 4 0 100% $200.00 $2400 10X12 $55.00 120 9 1080 6 3 67% $495.00 $5940 10X15 $60.00 150 10 1500 10 0 100% $600.00 $7200 10X20 $70.00 200 4 800 4 0 100% $280.00 $3360 10X30 $90.00 300 10 3000 10 0 100% $900.00 $10800 46X12 $125.00 552 1 552 1 0 100% $125.00 $1500 40X12 $150.00 480 1 480 1 0 100% $150.00 $1800 30X46 $250.00 1380 1 1380 1 0 100% $250.00 $3000 154X30 $900.00 4620 1 4620 1 0 100% $900.00 $10800 25X30 $300.00 750 1 750 1 0 100% $300.00 $3600

UNIT MIX SUMMARY TOTAL UNITS

TOTAL SQ FT

OCCUPIED VACANT OCCUPANCY CURRENT INCOME PER MONTH

GPR/MONTH (POTENTIAL)

GPR/YEAR (POTENTIAL)

52 15,012 14,302 710 95% $4115 $4560 $54720

PARKING TYPE TOTAL UNITS CURRENT

RATE CURRENTLY OCCUPIED

CURRENT MONTHLY INCOME

GPR/MONTH GPR/YEAR

OUTDOOR 54 $40.00 3 $120.00 $2160 $25920 INDOOR 5 $70,00 3 $210.00 $350 $4200


FINANCIAL OVERVIEW

Illinois Avenue Storage, Inc. 12:00 AM

Profit and Loss Standard 01/23/19 January through December 2018 Accrual Basis

Jan - Dec '18

Ordinary Income/Expense

Income

Rental Income 50,529.77

Total Income 50,529.77

Gross Profit 50,529.77

Expense

Training 0.00

Taxes - Payroll 0.00

Taxes - Corporate 331.00

Credit Card Service Charges 364.22

Bank Service Charges 0.00

Computer and Internet Expenses 1,393.64

Garbage Pickup 897.00

Insurance Expense 3,066.50

Interest Expense 0.00

Lawn Maintenance 560.00

Meals and Entertainment 0.00

Office Fees(Bookkeeping) 0.00

Office Supplies 1,265.93

Postage 108.00

Professional Fees 147.91

Repairs and Maintenance 1,422.70

Taxes - Property 3,066.70

Telephone Expense 600.00

Travel Expense 0.00

Utilities 1,550.19

Total Expense 14,773.79

Net Ordinary Income 35,755.98

Other Income/Expense

Other Income

Other Income

Security Deposits 335.00

Total Other Income 335.00

Late Fees Income 710.00

Total Other Income 1,045.00

Other Expense

Misc Expense 2.50

Total Other Expense 2.50

Net Other Income 1,042.50

Net Income 36,798.48


CONTACT INFORMATION FOR ALL INQUIRIES, PLEASE CONTACT: APRIL K NICOLAIDES ILLINOIS AVENUE STORAGE, INC. 4700 CHAPEL SPRINGS CT. ARLINGTON, TX 76017 [email protected] 815.853.0802 OFFICE 309.830.8159 CELL

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