Net Lease Citibank For Sale | The Boulder Group

NET LEASE INVESTMENT OFFERING

CITIBANK (S&P: A-) 136 North York Street, Elmhurst, IL 60126 (Chicago MSA)

TABLE OF CONTENTS

I. Executive Summary Executive Summary Investment Highlights Property Overview

NET LEASE INVESTMENT OFFERING

II. Location Overview Aerial Maps

III. Market & Tenant Overview Citibank Profile Location Overview Demographics

DISCLAIMER STATEMENT

DISCLAIMER STATEMENT:

The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group.

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation.

The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

NET LEASE INVESTMENT OFFERING

EXECUTIVE SUMMARY

EXECUTIVE SUMMARY:

The Boulder Group is pleased to exclusively market for sale a single tenant Citibank located in an affluent suburb of the Chicago MSA. The property is centrally located in downtown Elmhurst at a prominent signalized intersection. The average annual household income in a one mile radius of the Citibank is in excess of $125,000. There are over eight years remaining on the Citibank lease that expires June 30, 2023. The lease features a 10% rental escalation in the primary term and in each renewal option period. Citibank is an investment grade rated tenant (S&P: A-) and is publicly traded (NYSE: C) with a market capitalization in excess of $158 billion.

The 4,300 square foot Citibank is strategically located at the signalized intersection of North York Road and Schiller Street. The Citibank is centrally located along the main north-south thoroughfare in downtown. The property is located in the immediate proximity to the Elmhurst Metra train station. Metra is the commuter rail division that serves the Chicago metropolitan area with over 80 million passengers per year. The Citibank will benefit from a large municipal parking garage that is currently being constructed immediately behind the property. The surrounding area is affluent with approximately 17,000 people living within a one mile radius earning average annual household incomes in excess of $125,000.

Approximately 120,000 people live within a three mile radius of the property. Interstate 290, which experiences traffic counts in excess of 145,000 vehicles per day, is located approximately three-fourths of a mile north of the Citibank.

Downtown Elmhurst has an eclectic mix of both national and local retailers, restaurants, boutique shops and businesses.

Across the street from the property is a Chipotle, Buffalo Wild Wings, and Walgreens. Jewel-Osco is located just to the east of property providing an additional draw to the immediate area. The downtown corridor is surrounded by numerous multi-family housing developments providing for constant foot traffic.

Citibank has over eight years remaining on the primary term of their lease that expires June 30, 2023. The lease features a 10% rental escalation in the primary term and in each of the four five-year renewal option periods. Citibank is an investment grade rated company (S&P: A-) and is publicly traded with a market capitalization in excess of $158 billion.

NET LEASE INVESTMENT OFFERING

INVESTMENT HIGHLIGHTS

INVESTMENT HIGHLIGHTS:

NET LEASE INVESTMENT OFFERING

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Located within the Chicago MSA

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Investment grade tenant (S&P: A-)

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10% rental escalations in the primary term and in each renewal option period

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Approximately 17,000 people living within a one mile radius earning average annual household incomes in excess of $125,000

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Centrally located in downtown Elmhurst across the street from a Jewel-Osco, Walgreens, Chipotle, and Buffalo Wild Wings

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Located in the immediate proximity to the Elmhurst Metra train station

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A large municipal parking garage is currently under construction immediately behind the property

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Close proximity to access to Interstate 290 which experiences traffic counts in excess of 145,000 vehicles per day

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Positioned at a signalized intersection

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Elmhurst College (3,500 students) is located less than one-half mile from the property

PROPERTY OVERVIEW

PROPERTY OVERVIEW:

Price: $3,215,385 Cap Rate: 6.50% Net Operating Income: NOI Escalation Date $209,000 $229,900 7/1/2018 $252,890 7/1/2023 Option 1 $278,179 7/1/2028 Option 2 $305,997 7/1/2033 Option 3 $336,597 7/1/2038 Option 4 Additional Income:

$10,450* (Excluded From Above NOI)

Rental Escalations:

10% Every Five Years

Renewal Options: Four 5-Year Lease Commencement Date:

June 25, 2008

Lease Expiration Date:

June 30, 2023

Tenant: Citibank Credit: A- (S&P) Year Built: 1998 (Gut Rehabbed) Lease Type: NN Rentable Square Feet:

4,300 SF (1st Floor Only – Vertical Subdivision)

*Tenant pays to landlord a 5% ($10,450) management fee. Current ownership has self-managed this property for seven years and has no offsetting expenses against the management fee.

NET LEASE INVESTMENT OFFERING

AERIAL

ELMHURST COLLEGE (3,500 STUDENTS) ELMHURST PUBLIC LIBRARY

ELMHURST ART MUSEUM

ELMHURST CITY HALL

North York Road ELMHURST TRAIN STATION

t Schiller Stree

145,000 VPD

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MAPS

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MAPS

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CITIBANK PROFILE

CITIBANK PROFILE:

Citigroup Inc., a diversified financial services holding company, provides various financial products and services to consumers, corporations, governments, and institutions. The company’s Global Consumer Banking segment provides traditional banking services to retail customers through retail banking, commercial banking, Citi-branded cards, and Citi retail services. It offers various banking, credit card lending, and investment services through a network of local branches, offices, and electronic delivery systems. As of December 31, 2013, this segment operated 3,729 branches in 36 countries. The company’s Institutional Clients Group segment provides a range of banking, and financial products and services to corporate, institutional, public sector, and high-net-worth clients.

This segment offers various wholesale banking products and services, including fixed income and equity sales and trading, foreign exchange, prime brokerage, and equity and fixed income research services. It also provides corporate lending, investment banking and advisory services, and private banking, as well as derivative services. In addition, this segment provides cash management and trade finance services for corporations, financial institutions, and public sector entities; securities services to investors, such as asset managers; custody and clearing services to intermediaries, including broker-dealers; and depository and agency/trust services to multinational corporations and governments.

The company was founded in 1812 and is based in New York, New York. Citibank is publicly traded on the New York Stock Exchange, C, and has a market capitalization in excess of $158 billion. Citibank is an investment grade rated company with a Standard and Poor’s rating of A-.

Website: www.citibank.com Credit Rating:

Investment Grade (S&P: A-)

Stock Symbol:

NYSE: C

Market Capitalization:

$158 Billion

Year Founded: 1812 Headquarters: New York, NY

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LOCATION OVERVIEW

LOCATION OVERVIEW:

Elmhurst is an affluent western suburb of Chicago located in both DuPage and Cook counties.

As of the 2010 U.S. Census, the city had a population of 44,121. The city was incorporated in 1910 and covers approximately ten square miles. Elmhurst is located approximately 17 miles west of downtown Chicago. It is easily accessible by Interstate 290 and Interstate 294 and is served by Pace buses and Metra commuter rail. Elmhurst has a vibrant downtown district with many urban boutiques, excellent restaurants, a 9 screen movie theatre (York Theatre), art, culture, and events throughout the year. The largest employers in the community are Elmhurst Memorial Health Care, Superior Ambulance Service, Elmhurst Community School District, HSBC Bank USA, and McMaster-Carr. The city is home to Elmhurst College, a private liberal arts college with approximately 3,500 students.

Chicago is the most populous city in the Midwestern United States and the third most populous city in the United States with 2,700,000 residents. Chicago is the county seat of Cook County, the second largest county in the United States. The Chicago MSA is the third most populated metropolitan area in the United States with 9,580,567 residents. The MSA covers over 1,300 square miles and six counties.

The Chicago metropolitan area is home to the corporate headquarters of 57 Fortune 1000 companies, including Boeing, McDonald’s, Motorola, Discover Financial Services and United Airlines. Chicago is a major hub for industry, telecommunications and infrastructure and O’Hare International Airport is the second busiest airport in the world in terms of volume.

The metro is a major financial center in North America, and is home to the largest futures exchange in the United States, the CME Group. Chicago is third in the world on the Global Financial Centers Index which ranks the competitiveness of financial centers based on people, business environment, market access, infrastructure and general competitiveness. www.cityofchicago.org

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DEMOGRAPHICS

DEMOGRAPHIC REPORT:

Population

1 Mile

3 Mile

5 Mile

Total Population

16,792

118,297

304,398

Total Households

5,760

41,187

105,722

1 Mile

3 Mile

5 Mile

Median Household Income

$100,709

$66,984

$61,570

Average Household Income

$125,567

$89,160

$80,979

Income

NET LEASE INVESTMENT OFFERING

Randy Blankstein President 847.562.0003 randy@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

666 Dundee Road, Suite 1801 Northbrook, IL 60062 www.bouldergroup.com