NET LEASED INVESTMENT OFFERING www.bouldergroup.com CITGO 2501 Light Road Oswego, IL (Chicago MSA)
Dec 05, 2014
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
CITGO2501 Light Road
Oswego, IL (Chicago MSA)
NET LEASED INVESTMENT OFFERING
www.bouldergroup.com
TABLE OF CONTENTS
TABLE OF CONTENTS
1) Confidentiality&Disclaimer
2) ExecutiveSummary
3) PropertyOverview
4) Aerial
5) SitePlan
6) Maps
7) TenantProfile
8) DemographicComparisonReport
9) LocationOverview
10) ContactInformation
NET LEASED INVESTMENT OFFERING
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TheinformationcontainedinthefollowingOfferingMemorandumisproprietaryandstrictlyconfidential.ItisintendedtobereviewedonlybythepartyreceivingitfromTheBoulderGroupandshouldnotbemadeavailabletoanyotherpersonorentitywithoutthewrittenconsentofTheBoulderGroup.ThisOfferingMemorandumhasbeenpreparedtoprovidesummary,unverifiedinformationtoprospectivepurchasers,andtoestablishonlyapreliminarylevelofinterestinthesubjectproperty.Theinformationcontainedhereinisnotasubstituteforathoroughduediligenceinvestigation.TheBoulderGrouphasnotmadeanyinvestigation,andmakesnowarrantyorrepresentation.TheinformationcontainedinthisOfferingMemorandumhasbeenobtainedfromsourceswebelievetobereliable;however,TheBoulderGrouphasnotverified,andwillnotverify,anyoftheinformationcontainedherein,norhasTheBoulderGroupconductedanyinvestigationregardingthesemattersandmakesnowarrantyorrepresentationwhatsoeverregardingtheaccuracyorcompletenessoftheinformationprovided.Allpotentialbuyersmusttakeappropriatemeasurestoverifyalloftheinformationsetforthherein.
CONFIDENTIALITY & DISCLAIMER
CONFIDENTITALITY & DISCLAIMER
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EXECUTIVE SUMMARY
EXECUTIVE SUMMARY
TheBoulderGroup ispleased toexclusivelymarket forsaleasingle tenantnet leasedCITGOproperty located in theChicagoMSA.Thepropertywasoriginallyconstructedin1999ona1.39acreparcel.Thegasstationpropertyfeatures14gaspumpsandaconveniencestore.ThepropertyisbenefittedfrombeinglocatedimmediatelysouthfromalargeCaterpillarmanufacturingplant thatemploysapproximately2,500people.The leasecommencedFebruary2004andincludesannualrentalescalationsof1.75%.Thereareapproximately10yearsremainingintheprimarytermofthelease.
Thesubjectproperty is locatedalongLightRoad (IllinoisRoute31). IllinoisRoute31hasaccess tobothHighway30(25,000VPD)andInterstate88tothenorth.Interstate88experiencestrafficcountsinexcessof75,000vehiclesperday.Thereareapproximately60,000peoplelivingwithinathreemileradiusearningaveragehouseholdincomesinexcessof$77,000annually.TheCITGOpropertyislocatedjustsouthfromaCaterpillarplantthatemploys2,500people.Caterpillaristhelargestemployerwithintheareaandhasoperatedatthisfacilitysince1958.
CITGO’soriginalleasetermisfor20yearswithfour5-yearrenewaloptionsandtheleaseexpiresinFebruary2024.Theleasefeaturesannualrentalescalationsof1.75%throughouttheprimaryterm.TheguarantorisGasMartUSA,aprivatelyheldcorporationthatoperates108locationsinsevenstates.
INVESTMENT HIGHLIGHTS
• LocatedwithintheChicagoMSA
• 1.75%annualrentalescalations
• Longtermleasewith10yearsremaining
• Nolandlordresponsibilities
• LocatedjustsouthfromaCaterpillarplantthatemploys2,500people
• Onlygasstationwithinatwomileradius
• Thereareapproximately60,000peoplelivingwithinathreemileradiusearningaveragehouseholdincomesinexcessof$77,000annually
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PROPERTY OVERVIEW
PROPERTY OVERVIEW
Price: $3,594,594
CapRate: 8.75%
NetOperatingIncome: $314,531
RentalEscalations: 1.75%Annually
RenewalOptions: Four5-year
LeaseCommencementDate: February11,2004
LeaseExpirationDate: February29,2024
Tenant: CITGO
Guarantor: GasMartUSA
YearBuilt: 1998
LeaseType: NNN
RentableSquareFeet: 9,262(combinationofbuildingandcanopy)
LandAcreage: 1.39acres
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AERIAL
AERIAL
SOUT
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NET LEASED INVESTMENT OFFERING
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SITE PLAN
SITE PLAN
NUS HIGHWAY 31
Gas Dispensers
LIGH
T RO
AD
NET LEASED INVESTMENT OFFERING
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MAPS
MAPS
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Citgo Petroleum Corporation (orCITGO)Americanrefiner,transporterandmarketeroftransportationfuels,lubricants,petrochemicalsandother industrialproducts.Thecompany isownedbyPDVAmerica, Inc.,an indirectwhollyownedsubsidiaryofPetróleosdeVenezuela,S.A.,thenationaloilcompanyofVenezuela.ThecompanyhasitsheadquartersintheEnergyCorridorareaofHouston,Texas.
www.citgo.com
GasMart USAwasfoundedin1995andcompletedconstructiononitsfirststoreinearly1996.During2012GasMartexpandedit’soperationstoinclude2KansasTurnpikelocationsandanadditional37siteslocatedinKansasandMissouri.Today,GasMartUSAhas108 locations insevenstatesthroughouttheMidwest.Theyareheadquartered insuburbanKansasCityandareprivatelyheld.
www.gasmartusa.com
TENANT PROFILE
TENANT PROFILE
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Population 1-mi 3-mi 5-mi
TotalPopulation 8,857 58,027 160,068TotalHouseholds 3,087 19,295 50,296
Income
MedianHouseholdIncome $75,759 $77,671 $62,028AverageHouseholdIncome $85,681 $90,678 $77,634
DEMOGRAPHIC COMPARISON REPORT
DEMOGRAPHIC COMPARISON REPORT
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OswegoisavillageinKendallCounty,Illinoisthatasofthe2010censushadapopulationof30,355.Thepopulationhasmore thandoubledsince the2000census.Oswego is the largestmunicipality locatedwithinKendallCounty.Oswegoislocatedapproximately45milessouthwestfromdowntownChicago.Thecommunityisstrivingtokeepitssmalltowncharacteranditremainsagreatplacetoraiseafamily.ManynewresidentscitethehighqualityschoolsasthereasontheymovedtoOswego.CommunityUnitDistrict308hasanexcellentreputationintheChicagolandareaandhasmaintaineditshighstandards,evenas
enrollmenthasincreased.OswegoisalsohometoalargeCaterpillarplant.
www.oswegoil.org
Chicago is themostpopulous city in theMidwesternUnitedStatesand the thirdmostpopulous cityintheUnitedStateswith2,700,000residents.ChicagoisthecountyseatofCookCounty,thesecondlargestcountyintheUnitedStates.TheChicagoMSAisthethirdmostpopulatedmetropolitanareaintheUnitedStateswith9,580,567residents.TheMSAcoversover1,300squaremilesandsixcounties.TheChicagometropolitanareaishometothecorporateheadquartersof57Fortune1000companies,includingBoeing,McDonald’s,Motorola,DiscoverFinancialServicesandUnitedAirlines.Chicago isa
majorhubforindustry,telecommunicationsandinfrastructureandO’HareInternationalAirportisthesecondbusiestairportintheworldintermsofvolume.
ThemetroisamajorfinancialcenterinNorthAmerica,andishometothelargestfuturesexchangeintheUnitedStates,theCMEGroup.ChicagoisthirdintheworldontheGlobalFinancialCentersIndexwhichranksthecompetitivenessoffinancialcentersbasedonpeople,businessenvironment,marketaccess,infrastructureandgeneralcompetitiveness.
www.cityofchicago.org
LOCATION OVERVIEW
LOCATION OVERVIEW
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666DundeeRoad,Suite1801Northbrook,IL60062
Randy [email protected]
Jimmy [email protected]
CONTACT INFORMATION
CONTACT INFORMATION