2954 WEST LAKE STREET KINZIE CORRIDOR

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1 OFFERING MEMORANDUM 2954 WEST LAKE STREET KINZIE CORRIDOR Presented by: ZACH PRUITT President NICHOLAS SCHAEFER Vice President OFFERING 1

2 2954 W. Lake St. Cawley Chicago is proud to present 2954 W Lake St, a 3,500 SF boutique, loft office/flex building in the Kinzie Corridor two blocks from the City of Chicago s new $30 million food incubator - The Hatchery. This stand-alone building offers a rare opportunity to acquire a small-boutique building that is becoming near extinct. Ideal for the small business owner looking to purchase for her own use, the investor, or the opportunistic looking to purchase in the next up and coming area. The building is currently subdivided into 1st and 2nd level, with the spaces in move-in ready conditions. Each floor has its own private entrance in the front, with shared rear entrance that leads to a surface parking lot. Both floors offer tremendous existing conditions with high-end build outs, and tall, lofted ceilings. The top floor boasts high exposed-timber loft ceilings. Two blocks from the new Hatchery Chicago, the building is perfectly positioned steps from both the Kedzie and California Green Line stations, two Divvy Stations, a short walk to Garfield Park and two Metra stations. This convenient location provides direct access to the West Loop and downtown via Lake Street, immediate access to I-290 via Sacramento Blvd and quick access to I-90/94 via Western Ave. Contributing to its great location, 2954 W Lake St is situated within the booming Kinzie Corridor, and provides potential buyers a tremendous financial opportunity given the property is within the Kinzie Industrial TIF in addition to the Enterprise 4 Zone. These two City of Chicago programs provide significant financial savings and investment incentives, inclusive of: Sales Tax Exemptions, Real Estate Transfer Tax Exemptions, Machine & Equipment Sales Tax Exemptions, TIF funds and Utility Tax Exemptions. Priced to sell, 2954 W Lake St is the opportunity you have been looking for. First floor bathroom First floor kitchen First floor entrance 2 SUMMARY 3

3 Property Specs Property: Total Building Size: Lot Size: Parking: 2954 W Lake St 3,500 SF 1,750 SF per floor x 2 Stories 3,125 SF Zoning: M1-2 TIF: Matterport tour: Features 1,350 SF lot on the north side of building Kinzie Industrial Corridor Enterprise Zone blocks from the new $30m food incubator - The Hatchery Chicago Two floors with move-in ready conditions High lofted ceilings, with exposed timber on the top floor Individual front entrances Ideal for small business owner or investor looking to occupy and lease portion Walking distance to 2 CTA stations, 2 Metra Stations, Divvy Stations and other public transportation Direct access to Downtown CBD, and Major Highways Tremendous opportunity for financial savings and incentives available Attached surface parking lot Income opportunity for signage on building with exposure to Lake St and CTA Pricing Sale Price: $380,000 Lease Price: $ $16.00 per RSF 2017 Taxes: $4, ($1.14 per RSF) 4 OFFERING 5

4 Building Floor Plan 6 PROPERTY SURVEY 7

5 W IOWA ST W IOWA ST CTA & Metra W RICE ST N PAULINA ST W HUBBARD ST Ashland WR N ELIZABETH ST W MAYPOLE AVE California W WASHINGTON BLVD W E SO GD EN AV S RACINE AVE S THROOP ST W HARRISON ST S LOOMIS ST Eisenhower Expressway W VAN BUREN ST Western S ASHLAND AVE W JACKSON BLVD S LAFLIN ST S PAULINA ST S WOOD ST Eisenhower Expressway UNITED CENTER W ADAMS ST W JACKSON BLVD W VAN BUREN ST S DAMEN AVE S WESTERN AVE S WASHTENAW AVE S FRANCISCO AVE S CALIFORNIA AVE S LEAVITT ST W MADISON ST W HARRISON ST N ADA ST W WARREN BLVD W WARREN BLVD W WAS N THROOP ST W WASHINGTON BLVD N RACINE AVE N ELIZABETH ST W FULTON MARKET W WALNUT ST W LAKE ST Damen N ADA ST W WALNUT ST N PAULINA ST W FULTON ST N WOLCOTT AVE W LAKE ST Kinzie Industrial Corridor W LAKE ST W GRAND AVE 0.5 Miles from I-290 Expressway 3.5 Miles to Downtown 5 Miles to Oak Park 11 Minute Walk to Garfield Park W HUBBARD ST N LEAVITT ST N OAKLEY BLVD W FULTON ST AV E Kedzie Ave. & Lake St. California Ave. & Lake St. Travel N ARTESIAN AVE N MAPLEWOOD AVE N WASHTENAW AVE W FULTON ST N NOBLE ST W OHIO ST N ASHLAND AVE Divvy Stations W KINZIE ST Western Avenue W HURON ST W ERIE ST W GRAND AVE W HUBBARD ST N BISHOP ST W HURON ST N ARMOUR ST N PAULINA ST N WOLCOTT AVE N DAMEN AVE VE N LEAVITT ST DA N OAKLEY BLVD AN N WESTERN AVE N CAMPBELL AVE GR W HURON ST W SUPERIOR ST W RACE AVE N FRANCISCO AVE 8 W S SACRAMENTO BLVD Contributing to the growth and evolution of the neighborhood, the City of Chicago has unrolled plans to invest capital into the infrastructure of the area, starting with a new CTA station at Lake St and Damen Ave. Joining in the city s investment, large corporations of Conagra Brands and Kellogg have also pledged more than $30 million to launch a new food business incubator, Hatchery Chicago. Arguably no project in recent times will make as much of a positive impact west of Western Ave, as the new 67,000 square feet facility located at Lake & Kedzie. This project will help spur development in the area, as it helps food start-up companies with access to resources, expertise and exposure to established food companies. Combined with close proximity to public transportation at the California and Kedzie Green Line Stations and nearby access to I-290, the western part of the Kinzie Corridor and Garfield Park are primed for growth and neighborhood revitalization. N ROCKWELL ST An area that was once overlooked and avoided, the Kinzie Corridor is currently seeing some of the highest velocity and demand in the city. The Kinzie Corridor has historically been known as the home for companies with heavy manufacturing, industrial and warehouse uses. However, as these industries continue to change, the neighborhood is evolving along with them. As traditional industrial and manufacturing companies vacate the area, the Kinzie Corridor is booming with the Makers and the Movers of New Age manufacturing, industrial, and creative flexoffice. Today, the neighborhood is home to, breweries, clothing manufacturers, woodworkers, galleries, coffee roasters, distilleries and many others that are flocking to call the Kinzie Corridor their home. 5 Minute Walk to CTA Green Line California Station & Kedzie Station 11 Minute Walk to Kedzie Metra (UP-W) Station W CHICAGO AVE W CHICAGO AVE GD EN Kinzie Corridor NO W IOWA ST N LEAVITT ST W WALTON ST W WALTON ST Neighborhood & Location Summary W AUGUSTA BLVD W AUGUSTA BLVD Racine Illinois Medical District LOCATION ANALYSIS 9

6 2954 W Lake St - Key Facts 1/2 Mile Radius Chicago, Illinois, City Commons 33.1 Median Age Dominant Tapestry Segment KEY FACTS WORKERS TRAVEL TIME TO WORK 8,458 Total Population 218 Businesses $207,851 Median Home Value 8,878 Daytime Population 0.1% Pop Growth Rate 2, % ACS Workers Age 16+ Drove Alone to Work TRANSPORTATION TO WORK 90+ min min min min min min min min min min 5-9 min $16,024 Per Capita Income $25, % 3.1% < 5 min Percent of Workers Avg Household Size Median Household Income Took Public Transportation Carpooled TRANSPORTATION TO WORK 1/2 Mile Radius 2954 W Lake St, Chicago, Illinois, ,600 KEY SPENDING FACTS ($) 1, % Walked to Work 4.8% Bike to Work This infographic provides information about how population age 16+ travels to work. This data comes from the the American Community Survey (ACS) from the US Census Bureau. 1, , Travel Transportation Apparel Entertainment Furniture 10 DEMOGRAPHICS 11

7 Presented by: ZACH PRUITT President HEADQUARTERS One Lincoln Centre, Suite 120 Oakbrook Terrace, IL NICHOLAS SCHAEFER Vice President CHICAGO 70 N Halsted St, Suite 206 Chicago, IL

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