NEC LEWIS & GLEN FLORA AVENUE WAUKEGAN (SUBURBAN CHICAGO), IL

NEC LEWIS & GLEN FLORA AVENUE WAUKEGAN (SUBURBAN CHICAGO), IL

INVESTMENT HIGHLIGHTS S U B J E C T O F F E R I N G Mid-America Real Estate Corporation has been retained on behalf of the owner to sell the 100% fee simple interest in Waukegan Plaza located in Waukegan, Illinois. Waukegan Plaza offers a purchaser the opportunity to acquire a community retail center in an established suburban Chicago trade area. Location: Subject GLA: Lot Size: Anchor: NEC Lewis & Glen Flora Avenue Waukegan (Suburban Chicago), Illinois 211,312 SF (GLA) / 221,276 SF (RBA) 19.82 AC Ross Dress for Less, Marshalls, dd s DISCOUNTS, rue21, Shoe Carnival Occupancy: 96% Traffic Counts: Lewis Avenue (19,380 VPD) Glen Flora Avenue (5,000 VPD) In-Place NOI: $1,383,639 Asking Price: $13,836,390 Cap Rate: 10%

KEY FEATURES INTERNET RESISTANT TENANCY Approximately 65% of Waukegan Plaza s square footage consists of strong discount retailers, including Ross Dress for Less, Marshalls, dd s DISCOUNTS, rue21, and Shoe Carnival. In recent years, discount retailers have proven to be internet proof tenants, able to weather e-commerce s disruptive force to brick-and-mortar retail. Proof of the tenants resistance is demonstrated through their continued growth and expansion. While other big box tenants such as Macy s, Staples, and Kmart continue to shut stores across the country, discount retail companies like The TJX Companies, Inc. and Ross Stores, Inc. are experiencing continued growth. The TJX Companies, Inc. opened 258 new stores in 2017, while Ross Stores, Inc. opened 89 net new locations including 69 Ross Dress for Less stores and 20 dd s DISCOUNTS stores. RECENT LEASING VELOCITY Since 2016, the center has added rue21, dd s DISCOUNTS, Shoe Carnival, and AM Dental to its tenant roster totaling 37,827 square feet of recently leased space. All three tenants have fresh ten-year lease terms with multiple options to renew, providing investors with long-term stability and cash flow. In addition to the recent leases, the center has also renewed Marshalls, Cricket Communications, USPS, Subway, Bubbleland Laundromat, and Hair & Beauty. REGIONAL ECONOMIC EXPANSION In the last four years, more than 8,000 jobs, $1.2 billion in capital investment, and 10 million square feet of development have been announced in southeastern Wisconsin. As a bedroom community to this area, Waukegan has benefitted from the region s rapidly expanding economy. Notable companies including Amazon, Uline, Haribo, and Niagara Bottling are planning or have developed new facilities, or expanded existing facilities. Between 2009 and 2018 Uline has almost tripled the number of employees with plans to add more than 2.25 million square feet of new development. Amazon invested over $200 million into a 1.5 million square foot fulfillment and sortation center employing more than 3,000 workers. Haribo is planning a new state-of-the-art facility which will cost over $240 million and bring 400 new jobs to the region. DENSE INFILL LOCATION The surrounding area features a solid local demographic profile with a dense residential population of 164,401 people with average household incomes of $71,768 within a 5-mile radius of Waukegan Plaza. The asset is situated in eastern Lake County, the third-most populous county in Illinois, roughly 40 miles north of downtown Chicago. $ LEVERAGED RETURNS The property is being offered free and clear of any existing debt, providing an excellent opportunity for a buyer to finance the transaction at today s market rates. DEMOGRAPHIC PROFILE WITHIN 5-MILE RADIUS: POPULATION 164,401 HOUSING UNITS 51,953 DAYTIME POPULATION 157,968 AVERAGE HH INCOME $71,768 MEDIAN AGE 31.8

LEASING PLAN Tenant Name Unit Square Feet Ross Dress for Less 01 29,941 rue21 02-04 6,647 Vacant 05 4,040 Family Dollar 06 9,090 New Plaza Currency Exchange 07 1,410 RCI Electric 08 500 Vacant 09-10 1,410 Vacant 11 3,000 the roomplace 12-13 13,190 Aaron's Rental 14-15 10,200 Tenant Name Unit Square Feet Rainbow 16 6,181 Hair & Beauty 17 4,132 Citi Trends 18 15,000 Leaping Lizards 19 15,000 Subway 20 1,455 AM Dental 21-22 1,380 Marshalls 23 25,000 Shoe Carnival 24-25 7,800 GameStop 26 3,030 Sneaker Villa 27 3,803 Tenant Name Unit Square Feet USPS 28 6,250 dd's DISCOUNTS 29A 22,000 Static Vacancy 29A-2 8,000 Bubbleland Laundromat 29B-F 5,373 USA Payday Loans 29G 1,080 Cricket Communications 29H-J 2,000 Da Liquor Store 29K 4,400 Total 211,312

LOCATION & MARKET Waukegan Plaza is ideally situated at the northeast corner of Lewis Avenue (19,380 VPD) and Glen Flora Avenue (5,000 VPD) in the city of Waukegan in eastern Lake County, Illinois. The city is ideally positioned along the western shore of Lake Michigan, equidistant to downtown Chicago and downtown Milwaukee. The property s trade area runs north to south along Lewis Avenue and east to west along Grand Avenue, and consists of approximately 975,000 square feet of retail space at a 90.8% occupancy rate. Complementing Waukegan Plaza s tenancy is a wide array of national and regional retailers such as Target, Jewel-Osco, Pet Supplies Plus, Aldi, Advance Auto Parts, Harbor Freight Tools, Walgreens, Dollar Tree, and Grand Appliance and TV. Secondary competition is provided through the retail corridor located along Belvidere Road with major national retailers including The Home Depot, Walmart Supercenter, LA Fitness, and Dollar Tree. With a population of over 700,000, Lake County is the third most populous county in the state of Illinois. It is one of 14 counties comprising the Chicago Metropolitan Statistical Area (MSA), which is the third largest metropolitan area in the United States. The Chicago MSA covers 9,581 square miles in Illinois, Indiana, and Wisconsin and has a population of approximately 9.5 million people. The region is home to more than 400 major corporate headquarters, including 31 Fortune 500 companies, 12 of which are located in Lake County. Southeastern Wisconsin is currently undergoing an economic renaissance with major companies such as Amazon, Haribo, Uline, InSinkErator, and Niagra bottling making the decision to locate their new facility, corporate headquarters, or strategic expansion right in the heart of the Milwaukee-Chicago corridor. The major economic development has accounted for more than 8,000 jobs, $1.2 billion in capital investment, and 10 million square feet of development have been announced in southeastern Wisconsin.

DEMOGRAPHICS The following table summarizes the strong demographics of Waukegan, IL and the surrounding communities. A full demographic analysis can be found in the appendix. 41 Pleasant Prairie Distance from Subject: 1 mile 3 miles 5 miles 2018 Population 23,684 98,545 164,401 Forecasted 2023 Population 23,891 99,136 164,941 % Change 2018 to 2023 0.9% 0.6% 0.3% 2018 Households 7,811 31,370 51,953 Forecasted 2023 Households 7,885 31,611 52,204 % Change 2018 to 2023 0.9% 0.8% 0.5% 2018 Median Home Value $144,593 $150,458 $167,379 2018 Daytime Demographics 16,535 82,643 157,968 2018 Average Household Income $59,797 $64,714 $71,768 2018 Median Household Income $45,778 $50,544 $52,814 2018 Per Capita Income $20,147 $21,124 $23,905 2018 Median Age 31.4 32.1 31.8 McHenry Crystal Lake 14 Algonquin LAKE COUNTY Round Lake Beach Grayslake Gurnee 94 Mundelein Zion Waukegan Lake Forest Vernon Hills 41 Buffalo Grove Lake Michigan 90 Elgin Hoffman Estates Schaumburg Glenview Evanston Des Plaines Skokie Palatine St Charles Carol Stream Elmhurst 355 Downers Grove 88 Naperville Aurora 294 90 Oak Park

PROPERTY DESCRIPTION Waukegan Plaza was built in 1957, and is situated on 19.82 acres of land with 211,312 square feet of gross leasable area. The center spans ½ mile along Lewis Avenue with completely unobstructed visibility, and is anchored by notable fashion tenants such as Ross Dress for Less, Marshalls, dd s DISCOUNTS, Family Dollar, Citi Trends, Rainbow, and Shoe Carnival. Ingress and egress to Waukegan Plaza is provided via 7 curb-cuts located along Lewis Avenue, Glen Flora Avenue, and Rodger Edwards Drive, providing convenient access to all areas of the center. The site also features abundant parking, with 1,106 spaces provided including 37 handicapped spaces. TENANCY Waukegan Plaza is 96% leased, with a majority of its tenancy composed of national retail anchors such as Ross Dress for Less, Marshalls, dd s DISCOUNTS, rue21, Shoe Carnival, Rainbow, Citi Trends, Aaron s Rental, and Family Dollar. These nine tenants comprise almost 65% of the center s 211,312 leasable square feet and 51% of its gross income. The remainder of the center is leased to a solid tenant mix of national and local retailers including Subway, Cricket Communications, AM Dental, GameStop, Sneaker Villa, USPS, and Bubbleland Laundromat. Waukegan Plaza has experienced strong leasing velocity since 2016, with dd s DISCOUNTS, Shoe Carnival, rue21, and AM Dental all executing new leases with ten-year terms and multiple options to renew. In addition to the 8,450 square feet of leasable small shop space available for lease up, further upside is provided through the redevelopment and lease-up of a roughly 31,000 square foot box, which is currently comprised of Citi Trends, Subway, AM Dental, and Leaping Lizards. FINANCIAL The property is being offered free and clear of any existing debt, allowing a purchaser to take advantage of the current debt financing climate. In-Place Net Operating Income: $1,383,639 Asking Price: $13,836,390 Cap Rate: 10%

For further information contact owner s exclusive representatives. The Wrigley Building 410 North Michigan Avenue, Suite 1100 Chicago, Illinois 60611 Direct: 630.954.7300 Joe Girardi Principal Direct: 630.954.7392 j.girardi@midamericagrp.com This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies.