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[Pages:8]CHICAGO, ILLINOIS
CONFIDENTIAL INVESTMENT INTRODUCTION
90
2 TROPHY OFFICE BUILDINGS | 834,893 SQUARE FEET | 92% LEASED | TRANSIT-ORIENTED
INVESTMENT HIGHLIGHTS
TROPHY ASSET
ONE OF CHICAGO'S TRUE TROPHY ASSETS FEATURING BEST-IN-MARKET CONSTRUCTION
QUALITY, AMENITIES AND TENANCY.
CURRENT OWNERSHIP HAS INCREASED RENTAL RATES BY MORE THAN 24% SINCE 2014.
THE PROPERTY'S UNRIVALED CONNECTIVITY TO THE DEEP TALENT POOL OF MILLENNIALS LOCATED IN DOWNTOWN CHICAGO AND ITS SURROUNDING
NEIGHBORHOODS POSITIONS PRESIDENTS PLAZA AS THE MOST ATTRACTIVE OPTION FOR TENANTS SEEKING TROPHY BUILDING QUALITY IN
SUBURBAN CHICAGO.
TRANSIT-ORIENTED
CTA BLUE LINE ? LESS THAN A FIVE-MINUTE WALK TO BLUE LINE CUMBERLAND STATION CBD COMMUTE ? 18 MINUTES TO LOGAN SQUARE AND 32 MINUTES TO CLARK/LAKE VIA BLUE LINE HIGHWAY ACCESS ? LESS THAN A
FIVE-MINUTE DRIVE TO I-90 EASY DIRECTIONS ? I-90 TO CUMBERLAND AVENUE SOUTH, TURN RIGHT ON BRYN MAWR
O'HARE SUBMARKET STRENGTH
THE MOST RECENT QUARTER CONTINUES O'HARE'S EXCEPTIONAL TRENDS THIS CYCLE: THE VACANCY RATE HAS DECREASED BY 50%
SINCE 2Q2010 AVERAGE ASKING RENTS ARE UP NEARLY $4.00
PER SQUARE FOOT SINCE 2Q2010 CONTIGUOUS BLOCKS OF CLASS A SPACE IN EXCESS OF 50,000 SQUARE FEET HAVE
DECREASED BY 56% SINCE 2Q2010
2 confidential investment introduction
EXCEPTIONAL TENANCY PROFILE
HEADQUARTERS LOCATION: 26 TENANTS, 61% OF TENANCY IS HEADQUARTERED AT PRESIDENTS PLAZA
92% LEASED WEIGHTED AVERAGE LEASE TERM:
6.0 YEARS IN-PLACE VS. MARKET RENT:
13.1% BELOW MARKET
MARKET-LEADING AMENITY PACKAGE
17,900 SQUARE FOOT FITNESS CENTER 6,300 SQUARE FOOT CONFERENCE CENTER FULL-SERVICE CAFE WITH CATERING OPTIONS
CONVENIENCE STORE SALON / BARBER TENANT LOUNGE SURFACE, DECKED AND COVERED PARKING CAR WASH SERVICES
CONNECTED URBAN SUBURBAN ENVIRONMENT
19 HOTELS WITHIN TWO MILES
50 RESTAURANTS WITHIN THREE MILES
THE FASHION OUTLETS OF CHICAGO 150 STORES AND 530,000 SQUARE FEET OF RETAIL
WITHIN THREE MILES
MB FINANCIAL PARK 12 VENUES OF DINING, LIVE MUSIC, FILM AND
ENTERTAINMENT WITHIN THREE MILES
DONALD E. STEPHENSON CONVENTION CENTER 840,000 SQUARE FEET OF CONVENTION SPACE AND 4,000 PERSON BALLROOM WITHIN THREE MILES
MULTIPLE & EFFICIENT FLOOR PLATES
THREE DISTINCT, EASY-TO-PLAN FLOOR PLATES OF
THE ROSEMONT THEATRE MODERN PERFORMING ARTS CENTER WITHIN
THREE MILES
RIVERS CASINO 44,000 SQUARE FOOT GAMING FLOOR PLUS UPSCALE DINING OPTIONS WITHIN TWO MILES
14,000 SF | 19,500 SF | 40,000 SF
Confidential Investment Introduction
3
4 confidential investment introduction
THE OFFERING
JLL is pleased to exclusively offer for sale the fee-simple ownership interest in Presidents Plaza (the "Property" or the "Complex"). Presidents Plaza presents an exceptional opportunity for investors to acquire the most connected trophy office building in suburban Chicago. The Property's trophy quality, unrivaled connectivity to downtown Chicago and O'Hare International Airport, full on-site amenity package, urban suburban work environment and institutional ownership are unmatched in the market and are all attributes of a true market leading investment. The Property's in-place rents are approximately 13.1 percent below market, allowing an investor to drive core-plus returns.
Presidents Plaza consists of two market leading, Class A office buildings located in suburban Chicago, Illinois within the O'Hare submarket, which features the highest Class A asking rental rate and lowest vacancy rate in suburban Chicago. The Property contains 834,893 square feet of net rentable area and is 92.4 percent leased to a high caliber roster of institutional-quality and investment grade tenants including: True Value Company, American Imaging Management (S&P: A, Parent), Lafarge North America (S&P: BBB), Property Casualty Insurers Associations of America and General Services Administration (S&P: AA+). The Property features a City of Chicago address, an important differentiator for tenants seeking a suburban location while maintaining the association with Chicago.
The Property's location benefits from superior visibility along I-90 at its northern border and is within a few minutes walking distance of the CTA Cumberland Blue Line station via a paved walkway, making it one of only a handful of suburban office buildings providing convenient train access to downtown Chicago. The CTA Cumberland Blue Line station makes Presidents Plaza an attractive option for tenants seeking to pull from the deep pool of millennial talent located in downtown Chicago and its surrounding urban neighborhoods.
Developed in 1980 and institutionally maintained by current ownership since 2006, Presidents Plaza contains two buildings, each of which contains two towers connected by a large base, which provides three distinct floor plates of 14,000 square feet, 19,500 square feet and 40,000 square feet; and creates the appearance of four connected office towers. The Property sits on a 13.5-acre site featuring landscaped beds filled with trees, shrubs and seasonal flowers and the focal point of the site houses a fountain area with outdoor seating. 2,278 parking spaces (3.01 / 1,000 rentable square feet) are available at the Property in a surface parking lot, structured parking deck and underground parking garage.
Current ownership has ensured the Property continually competes with the best office buildings in the market by investing more than $15 million in capital renovations since acquisition. The Property's unrivaled location directly west of the full four-way interchange of I-90 and Cumberland Avenue provides a unique ease of access to I-90 when compared to surrounding office buildings in the O'Hare submarket and is located approximately three miles east of O'Hare International Airport. Presidents Plaza boasts immediate access to the best retail, restaurant and lodging amenities in suburban Chicago, including 19 hotels, 50 restaurants and the nearby Fashion Outlets of Chicago all within three miles of the Property. Additionally, the Complex features a variety of on-site amenities including a 17,900 square foot fully equipped fitness center, conference center, cafe, convenience store, tenant lounge, and a full service car wash and detail center.
NET RENTABLE AREA SUMMARY
BUILDING 8600 W Bryn Mawr Avenue
8700 W Bryn Mawr Avenue
TOTAL
LEASED(1) 383,870 383,304
767,174
VACANT 25,200 38,105 63,305
TOTAL 409,070 421,409
830,479
REMEASURED 412,274 422,619 834,893
% LEASED 93.8% 91.0%
92.4%
(1) Leased square footage reflects the amount specified per each Tenant's lease as of March 2018. Leased percentage is based on the building's total rentable area as of March 2018. Leased square footage that currently does not reflect its BOMA remeasured amount is projected to roll to its BOMA remeasured amount upon its first generation expiration.
The Property is ideally situated for commuting by car with exceptional access to the fullfour way interchange of I-90 and Cumberland Avenue, within a half mile of the Property. I-90 further connects the Property to two of Chicago's most vital arteries, I-90 and I-294, providing convenient access to the region's robust network of roadways. The Property's location allows for convenient access to both O'Hare International Airport and downtown Chicago, located three and 15 miles from Presidents Plaza, respectively.
The Property's market leading trophy quality, unrivaled connectivity to downtown Chicago, investment grade tenant roster, full on-site and area amenity packages and excellent location in the O'Hare submarket create a preferred location for corporate users. The offering represents an exceptional opportunity to acquire a market leading, trophy office property in the most transit-oriented location in suburban Chicago at a significant discount to replacement cost.
INVESTMENT SUMMARY
Property
Presidents Plaza
Address
8600 & 8700 W Bryn Mawr Avenue
Square Feet (BOMA)
834,893
Leased
92.4%
Parking Ratio(1)
3.01 / 1,000 SF
WALT
6.0 years
In-Place Rent Below Market (%)
13.1%
(1) Parking ratio based on office rentable square footage
Confidential Investment Introduction
5
BESSIE COLEMAN DRIVE MANNHEIM ROAD
NORTH RIVER ROAD NORTH CUMBERLAND AVENUE
90
WEST HIGGINS ROAD
O'HARE
O'HARE AIRPORT
3.2 MILES
8 MIN DRIVE
INTERSTATE 294
3 MILES
294
6 MIN DRIVE
INTERNATIONAL
AIRPORT
O'HARE
INTERSTATE 190
2 MILES
6 MIN DRIVE
ROSEMONT
O'HARE CTA
4.5 MILES
7 MIN CTA RIDE
MB FINANCIAL PARK
190
3 MILES
8 MIN DRIVE
294
ROSEMONT
BALMORAL AVENUE
FASHION OUTLETS
OF CHICAGO
3 MILES
8 MIN DRIVE
ROSEMONT METRA
3.7 MILES
9 MIN DRIVE
6 confidential investment introduction
NORTH EAST RIVER ROAD O'HARE WAY
S PLAINES RIVER ROAD
DEVON AVENUE
SOUTH DEE ROAD
INTERSTATE 90
1 MILE 4 MIN DRIVE
90
CUMBERLAND CTA
0.3 MILES 5 MIN WALK
CUMBERLAND
Des
CHICAGO
15 MILES
25 MIN DRIVE
Wood Dale
Elk Grove Village
9
O'HARE
INTERNATIONAL
AIRPORT
190
Addison
Bensenville
WEST FOS
Northlak
Lombard
Villa Park
B
LAWRENCE AVEHN
CANFIELD ROAD
TALCOTT ROAD
s Plaines
Niles
Morton Grove
Evanston
294 WEST BPaRrYk RNidMgeAWR AVENUE
90
Lincolnwood
Norridge
94
Schiller Park
STER AVENUE
Franklin Park
River Grove Elmwood Park
ke
Melrose Park
Bellwood
HNilUlsiEde
Maywood
Forest Park
Oak Park
Chicago
290
Confidential Investment Introduction
7
PRIMARY SALES CONTACTS
JAMES J. POSTWEILER
MANAGING DIRECTOR +1 312.228.2661 jim.postweiler@am.
PETER G. HARWOOD
MANAGING DIRECTOR +1 312.228.2124 peter.harwood@am.
LEASING EXPERT
DAVE TRUMPY
SENIOR MANAGING DIRECTOR +1 773.308.1031 dtrumpy@
FINANCING
KEITH A. LARGAY
MANAGING DIRECTOR +1 312.228.3111 keith.largay@am.
MIDWEST CAPITAL MARKETS JAMES J. POSTWEILER PETER G. HARWOOD BRUCE MILLER NOOSHIN FELSENTHAL STEVEN BUSS
?2017 Jones Lang LaSalle IP, Inc. All rights reserved.
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