Randall Crossing Offering Template

PROPERTY ADDRESS | CITY, STATE
Title | Subtitle

9450 W. Bryn Mawr Avenue | Suite 550 KENNETH P. FRANZESE PRESENTED BY:
Rosemont | IL | 60018 Direct: 773.355.3005
www.lee-associates.com JOHN T. CASSIDY
[email protected] Direct: 773.355.3006
[email protected]

CONFIDENTIAL MEMORANDUM & DISCLAIMER

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CONFIDENTIAL OFFERING MEMORANDUM

I. CHAPTER 1 TABLE OF CONTENTS
A. Section 1
B. Section 2
C. Section 3
D. Section 4

II. CHAPTER 2
A. Section 1
B. Section 2

III. MARKET OVERVIEW
A. Metro Chicago Market Overview
B. North Kane Submarket Overview
C. Supply Overview
D. Demand Overview

IV. CHAPTER 4
A. Section 1
B. Section 2

A. Section 1 CHAPTER ONE
B. Section 2
C. Section 3
D. Section 4

SECTION 1 MARKET TOURS

OFFER FORMAT Market tours can be arranged by contacting:

Harum vitatempe illabo. Ut quaerrum asi cum rem nimpore pu- KENNETH P. FRANZESE
dipienis a volorrovit volest labores earum aut atum ulluptae. Ihilla Principal
nonsed quas magni qui cus dit, consequam solorehentia verupta
estrumque porumquas molo everestor suntur sitatibusam id quis 773.355.3005 | Direct
sus dolor sequi unt. 847.456.4213 | Mobile
[email protected]
OFFER DUE DATE
JOHN T. CASSIDY
Etur, sitaecae parunto totati sus eiciam nos qui conseque non Principal
con re il eatum vel iduntum es molor si utatum, tem quam aut
omnihicia estis minvenda nostior aut unt omnimpor soluptusant 773.355.3006 | Direct
moluptatiam ea istes min consenda nis est, aped quidendem 312.371.0098 | Mobile
[email protected]
TERMS
LEE & ASSOCIATES OF ILLINOIS, LLC
Harum vitatempe illabo. Ut quaerrum asi cum rem nimpore pu- 9450 W. Bryn Mawr Avenue | Suite 550
dipienis a volorrovit volest labores
Rosemont | Illinois | 60018
SURVEY TITLE

earum aut atum ulluptae. Ihilla

SECTION 1

SECTION 2

Iquiatem essit, optatem illor arit que amusapiendia arum ADDRESS: Street Address, City, State
es animentio verro offic tende quam conem que moluptat BUILDING SIZE:
inctur, omnimus. LAND SITE SIZE: 246,446 Square Feet
Itaquis duciatur, unto doluptas rem quam fugitate eumqui OFFICE AREA:
omnia sin peliquid expedi quae nonsenes et aliata nem CLEARANCE: 13.51 Acres
sequossi ulpa porem estions erorias que labo. Ut alit escius BAY SIZES:
nonsernatin perunt et autatis maxime alit preris et landame To Suit
ipit eum que nihicid itintem raercillibus adignis pere coresto ROOF:
quam sitate si omniam venditiis volupicia quiatec eariam ELECTRICAL SERVICE: 32’ Clear
eatquiat odit modis alit, ut volupta quatio. Eperia sint ium HVAC:
laccus aspe et od ma est, coribus ut aut vel ipsapit estrum, PARKING: 50’ x 50’ (Typical)
si voluptae illabo. Dem facest eatiaep raepuda qui ut fuga. FIRE PROTECTION: 60’ Speed Bay
Ut pore doloriberum qui consedigende nestrum quunda LIGHTING: EPDM Rubber Membrane Roof
vellanitia de praectiae. Et fuga. Am alitatis modi con es LOADING FACILITIES:
reptur? 2400 Amp; 277/480 Volts
Arum conet quamet, nos nitae dolores ut ped ut fugit que COMMENTS:
sum laborem que nonsequatior sit explam acima vel ipsunt, Positive Pressure Air-Rotation Units
to vendi accuptia ipit, od mo tem repre, ipsantio consenias
ditatibus reribus apidel magnihit pores iuntessinci duntorem. 147 Spaces

ESFR System

High-Efficiency T-5 Lighing

Forty (40) Exterior Docks
(Expandable to 70)
Four (4) Drive-In Doors
• New Construction
• Prestigious Business Park

Environment
• State-of-the-Art Cross-Dock Facility
• One to Four Tenant Building

SECTION 2

SECTION 2

N▲

SECTION 2

SECTION 2

SECTION 2

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 3

SECTION 4 PROPERTY

LOGO CITY, STATE
DATE
I. HEADING 1
A. SECTION 1
1.
B. SECTION 2
1.
i)
ii)
a)
b)
2.
i)
ii)
a)
b)
C. SECTION 3
1.

SECTION 4

SECTION 4 PROPERTY

LOGO CITY, STATE
DATE
D. SECTION 1
1.
i)

I. HEADING 2
A. SECTION 1
1.
i)
ii)
2.
i)
ii)
a)
b)
3.
i)
a)
b)

SECTION 4

SECTION 4 PROPERTY

LOGO CITY, STATE
DATE
B. SECTION 1
1.
i)
a)
ii)
a)
1)
2)
2.
i)
a)
b)
c)

C. SECTION 1
1.
i)
a)

SECTION 4

SECTION 4 PROPERTY

LOGO CITY, STATE
DATE
b)
ii)

a)
b)
iii)
a)
2.
i)
a)
b)
c)
3.
i)
ii)
iii)

SECTION 4

A. Section 1 CHAPTER TWO
B. Section 2

SECTION 1 246,446 SF
13.51 Acres
BUILDING SIZE Spring, 2015
LAND SIZE
PROJECT DELIVERY 1-4 Users
NUMBER OF TENANTS Interior cost estimates based on 2 tenants
TENANT SIZE RANGE
LEASE UP PERIOD ±50,000 to 246,446 SF
NET RENTAL ABATEMENT PERIOD Months 1-12
AVERAGE LEASE TERM
OFFICE FINISH LEVEL Months 13-18
LEASE RATE RANGE Six (6) years
ANNUAL ESCALATIONS 5%
PROPERTY TAXES
OPERATING EXPENSES $4.75 to $4.95 PSF
UTILITY EXPENSES 2.5%
STABLIZED NOI ESTIMATE
Paid by tenant
Paid by tenant
Paid by tenant

$1,195,000

SECTION 1

SECTION 2

PROJECTED COSTS AFTER COMPLETED SHELL - 246,446 SF

HARD COSTS COST $/SF Ore
Demising Walls (per plan - 2 tenants) $000,000 $0.00
Utilities (2 tenants) $000,000 $0.00 2
Warehouse Lighting (25 FC-Open Plan) Included $0.00
Warehouse HVAC (2 80/20 MVA Units) Included $0.00 Fr
Office TI Allowance (5% at 65 PSF) $000,000 $0.00
TOTAL HARD COSTS $000,000 $0.00 30

SOFT COSTS $00,000 $0.00
Legal - Leasing ($5,000/Tenant) $00,000 $0.00
Liability Insurance $000,000 $0.00
RE Taxes & CAM During Lease Up $000,000 $0.00
Leasing Commissions $000,000 $0.00
Miscellaneous Soft Costs/Contingency $000,000 $0.00
TOTAL SOFT COSTS

TOTAL PROJECTED FIT-OUT & LEASE UP EXPENSES $0,000,000 $0.00

*costs exclude carry during lease-up.

2

SECTION 2

Beloit Sharon

South Beloit WISCONSIN
Rockton
ILLINOIS 83 Winthrop
Roscoe Harbor
23 Richmond Antioch
2 173
251 12

Machesney Spring Grove
Park WINNEBAGO COUNTY Hebron 173 173
BOONECOUNTY
39 47 45 Old Zion
BOONE COUNTY Mill
Durand McHENRY COUNTY76 59 Lindenhurst Creek Wadsworth Beach MARKET OVERVIEW
Park
McHENRY COUNTYCapronHarvard Fox Lake 94
LAKE COUNTY Fox Lake
75 173 McHENRY
14 COUNTY HPigishtlaaknedeLsHoinllsgHReLoiagukLhneatdskeBRLVeoaiaulklcnaehd
Poplar Grove Greenwood Ringwood Johnsburg Lake Venetian Village 137
Wonder Lake Grandwood Park
12 Round Lake
McCullom 132 Gurnee
Lake
Third Lake
83
120 41 Waukegan
Grayslake
21 Park City

McHenry Lakemoor Round Lake 120

Pecatonica Loves Woodstock Park North
Park Volo 60 Hainesville Chicago
20
LAKE23 137
90 Bull Valley 31 Holiday Hills
Prairie Green
COUNTY20 59 45 Libertyville Oaks Lake
Bluff
Grove
Winnebago Rockford 20 47 Island Wauconda 176 Mundelein

Marengo 176 Lake Vernon Lake
Hills Forest
Belvidere Union 176 Oakwood Mettawa
Cherry BOONE COUNTY Hills Tower
Valley 14 Lakes 60
Lake
20 Lakewood Crystal Lake Barrington 12 Hawthorn Woods Indian 94
North Barrington Creek
2 Cary 21 Bannockburn
Fox River
New Milford Lake in the Hills Trout 22 Lake Zurich 22 Lincolnshire Highwood
WINNEBAGO Valley Grove Kildeer Highland
14
Deer Park 83 Buffalo 41 Park
Barrington Grove
Huntley Long Riverwoods
Grove Deerfield
McH Algonquin
LAKE COUNTY

OGLE COUNTY DEKALB COUNTY KANE COUNTY Barrington Hills COOK COUNTY

Byron 39 62 59 Wheeling 68 Glencoe Lake
72 68 14 Palatine 12 Michigan
Northbrook
South
72 Barrington
251

NORTHWEST NORTHDavis Junction
90 Carpentersville Inverness 45 Winnetka
47
Stillman Kingston Genoa Hampshire East Dundee 53 Arlington Prospect
Valley Gilberts Heights Heights
23 72 Pingree
Grove PlaiDneess
Sycamore Burlington
Cortland 20 45
I-39 CORRIDOR NKOARNTEH NORTCHOOK O'HARE COOKHillcrest Sleepy Glenview 43 Northfield Kenilworth
Hinckley Hollow
Metro Chicago Market Overview DU PAGE NORTHRochelle Kirkland West Rolling
NSDuoepmrtphalyKnOadnvOeevrSveuierbvwimewarket OvervCEKiNeATNRwEAL CDEUNSPTOIAR-U5GA5TELH NCWOIO-E5ROS5TTKH CHICCSHAOIGCUOATGHOSteward Dundee 25 Meadows Mount 94 Wilmette
90 Prospect
21 58 Golf
Morton Grove 41 Evanston
Elgin 58 Hoffman Estates 58

OGLE COUNTY 72 294 Niles Skokie
DEKALB COUNTY
egon Streamwood Schaumburg 290 Elk Grove Park Ridge
Village 83 Rosemont
64 64 South Hanover Itasca Lincolnwood
Elgin COOK COUNTY Park
RANDALL RD. 290
2 DU PAGE COUNTY Roselle 19 90

A. Virgil Bartlett 20 Schiller
Park
59 Bloomingdale

Creston Malta De Kalb Lily Lake Wayne 19 Franklin 171 43

38 64 Park Elmwood 50
47 Park
St. Charles Carol Glendale Addison 45
OGLE COUNTY Maple Park Geneva Stream Heights 64
64 Northlake 290
B. LEE COUNTY 64 355 83
Ashton 38 Melrose 55
Winfield
Elburn West BerkeleByellwoPoadrkMaywood
Chicago

88 KANE COUNTY Hillside 38 Forest Park
DU PAGE COUNTY
ranklin Grove LEE COUNTY 88 38 Wheaton Glen Ellyn Broadview AVE.
DEKALB COUNTY
38 C. DEKALB COUNTY Batavia Cicero Chicago
KANE COUNTY
56 88 294 171 94
90
53 34

North Warrenville 34
Aurora
Lee 88 45

D. Shabonna Lisle

30 Waterman Naperville WESTERN

30 Sugar Grove Woodridge 83 43

47 Aurora 34 59 355 90
30 Montgomery
KANE COUNTY DU PAGE COUNTY 55 Oak Evergreen 20 12
Amboy KENDALL COUNTY WILL COUNTY Lawn Park 94
53
52 Chicago Merrionette
Compton Paw Paw Bolingbrook Palos Ridge Park
Sublette Oswego Romeoville Hills
23 Worth
LEE COUNTY 30 50 12
BUREAU COUNTY
92 Plano I-88 Lemont Palos Palos 294 Alsip Blue Calumet Park Whiting
34 Park
La Moille Yorkville CORRIDOR Heights Island Dune 12 20
Sandwich Acres
89 43 Crestwood Robbins Riverdale 20 East
34 DEKA Somonauk Posen Dixmoor Dolton Burnham Chicago Burns
LEE COUNTY LA SALLE COUNTY Homer 45 Harbor
Arlington LA SALLE COUNTY 171 Glen Midlothian 94 Porter Cheste
251 Leland Oak Forest 83 Calumet Hammond 912
Cherry 39 WILL COUNTY City Ogden
Plainfield COOK COUNTY Orland 57 Harvey Phoenix 90 Dunes
Park 20 Portage
6 Griffith Gary
7
Markham South 41
Holland
Earlville 34 71 Lockport Orland 80 90
Hills Tinley
KENDALL 30 Crest Hazel East Hazel Crest 80 New Lake Station
WILL COUNTY Hill Fairmont Park CCluobunHtirllysCrestHomewood Thornton Chicago
Millington SCOOUOTKHMokena Lansing Munster 6
23 Sheridan 55 Ingalls 394 Highland
52 Park Lynwood
Mendota 80 Flossmoor 1 Glenwood 41 Hobart South 49
Troy Joliet Haven
Grove Newark New Lenox 65
Frankfort 53
30 Square 50 Olympia Fields Chicago
Shorewood Heights Ford Heights
52 Manhattan Matteson 30
Lisbon 80 Minooka Rockdale Preston Heights Frankfort Richton Park S. Chicago Sauk Dyer Schererville
KENDALL COUNTY Channahon Park Forest Heights Village
GRUNDY COUNTY 6 30 Merrillville

BUREAU COUNTY 47 JOLIET Steger 55 Valparaiso
LA SALLE COUNTY 71 AREA
52 Crete 394 2
University
St. John Crown
Park Point
53 Monee
1
Lakes of the
Elwood Four Seasons

Ladd 45 SOUTH ILLINOIS INDIANACedar LAKE COUNTY
50 WILL INDIANA PORTER COUNTY
6 80 Ottawa Morris GRUNDY COUNTY Lake 231
6 WILL COUNTY
Seatonville Dalzell 6 57 Beecher
De Pue Spring Valley
Peru La Salle North Utica Marseilles Peotone 1 Lake Hebron Kouts
29 Dalecarlia
Seneca 8

71 Wilmington WILL COUNTY Lowell
KANKAKEE COUNTY
Oglesby Carbon Hill Diamond 2 PJOARSTPEERR COUNTY
65
Cedar Coal City
Point
Hennepin Mark Braidwood Lakewood
Shores
71 Standard I-80 WEST

251 Mazon 102

Grand Ridge 170 Godley

55

Tonica 23 Verona Braceville

89 AM COUNTY 39 53 Schneider NLEAWKETOCNOCUONUTYNTY De Motte Wheatfield
LE COUNTY
McNabb A SALLE Gardner OUNTY 41
RUNDY South COUNTY

METRO CHICAGO MARKET OVERVIEW

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et alitate prersperundi re comnihiliqui quides quo temperum repelibus, 90 294
sinus, nonestio. Neque serfereptas as ditesequi volesti beatempos rem
id qui omnimus soluptur aut eatendi dit eliquos dolor sus eatinci piderov Elgin Hoffman Estates Des
itatisit aut quam es mincias re verchilique sequis autestis rehendicil ium 20 Plaines
volupta doluptam, offici verore ex ea nossit qui num etur, voluptam Site Schaumburg 290 Elk Grove
dollaut venis re nientur sam dolum cum veniendam que est plaborit Elgin O'Hare Expy. Village 90
harcidem quam reped et rem quamusdam ipit dolore cum es rat officip KANE O'Hare
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31 DU PAGE 290 94

St. Charles Chicago

Lombard

290

45 COOK
20
55
88 Midway
294 Airport

355 20
59
294
30 57
55

KENDALL Joliet WILL
80
0 80
45

30

5 Mi.
METRO CHICAGO MARKET OVERVIEW

METRO CHICAGO MARKET OVERVIEW

14 14.0%

12 12.0%

Statistically, the Chicago industrial Millions of SF Absorbed 10 10.0% Vacancy
market consists of approximately 1.3 8 8.0%
billion square feet, making it the third 6 6.0%
largest in the United States. At the 4 4.0%
end of Q1 2014, the market had a 2 2.0%
vacancy rate of 9%. This vacancy has
fallen from its peak in mid 2010. Overall,
the Chicago industrial market absorbed
over 42 million square feet in 2012 and 38
million square feet in 2013.

- 0.0%
Q1 2012 Q2 2012 Q3 2012 Q4 2012 Q1 2013 Q2 2013 Q3 2013 Q4 2013 Q1 2014

Gross Absorption Vacancy

METRO CHICAGO MARKET OVERVIEW

METRO CHICAGO MARKET OVERVIEW

Central DuPage Inventory Available SF Vacancy Under Construction Q1 Sold Q1 Leased Q1 Gross Absorption Q1 Net Absorption
Central Kane 22,599,060 1,341,601 5.9% - 51,904 11,880 51,904 -330,895
Chicago North 36,087,685 2,865,233 7.9% - 51,015 69,712 -83,124
Chicago South 116,079,666 8,736,944 7.5% - 120,727 227,627
I-55 Corridor North 157,946,564 7.0% 761,146 108,060 869,206 205,060
I-55 Corridor South 54,124,402 11,035,173 9.9% 150,000 242,480 623,597 866,077 343,506
I-88 Corridor 91,703,656 5,363,741 8.4% 760,359 119,610 581,189 700,799 403,567
Joliet Area 64,090,530 7,666,427 7.4% 2,089,445 1,387,585 1,447,164 221,344
Lake 60,928,634 4,733,526 1,480,584 59,579 338,452 615,592
McHenry 83,353,004 9,314,020 15.3% 2,741,400 258,100 80,352 1,982,687 -962,436
North Cook 27,433,832 8,024,061 9.6% 1,905,600 599,751 168,320
North DuPage 42,911,907 2,544,116 9.3% - 77,087 436,185 947,185
North Kane 67,204,729 2,417,587 5.6% - 202,007 397,744 1,302,907
Northwest Cook 34,208,664 6,086,143 9.1% - 339,070 97,115 379,635 -1,005,855
O’Hare 48,666,730 4,538,412 265,000 926,975 -419,933
South Cook 106,476,539 4,247,835 13.3% 306,000 150,938 274,932 72,173 106,366
South Will 58,872,747 8.7% 300,000 379,635 312,745 279,821
West Cook 25,415,424 10,851,189 630,545 25,000 1,439,550 -289,865
95,071,075 4,947,578 10.2% - 191,277 47,173 388,276 359,315
2,390,153 8.4% - 332,428 121,468 423,065 600,778
9.4% - 297,819 1,107,122 962,717
10,095,232 353,683
10.6% 887,637 90,457
39,382
5,327,755 75,080

Totals 1,193,174,848 107,198,971 9.0% 8,723,333 264,387 7,398,083 12,694,020 1,386,373
4,204,115 10.0% 550,228 85,204 349,591 117,108
Indiana (Northwest) 42,150,958 264,387
Indiana (Northwest 2,404,256 8.9% 550,228 126,188 - 264,387 31,904
Non-Crane) 26,891,153 3,086,088 5.9% 1,816,000 76,484 202,674 147,254
52,104,463 7,959,642 12.1% 15,000
Wisconsin (Southeast) 65,658,635 - - 15,000 15,000
5,733,330
I-39 Corridor

Totals 1,353,088,904 122,448,816 9.0% 11,089,561 7,559,771 13,261,285 1,665,735

No warranty or representation is made as to the accuracy of this information. Data that has been analyzed and summarized here is from sources deemed reliable.

METRO CHICAGO MARKET OVERVIEW

NORTH KANE SUBMARKET OVERVIEW

HISTORICAL PERSPECTIVE

The North Kane Submarket comprises 34.2 million SF of industrial space,
with the majority of the Class “A” inventory having been developed over
the past 15 years. The area has enjoyed steady growth due to a variety
of catalysts such as:

• Plentiful and diversified labor base
• Low Kane County property taxes
• Modern infrastructure offering 3 full interchanges along I-90, which is

the longest interstate highway in the U.S. and northern most coast-to-
coast trade route.
• Excellent area amenities and good housing stock.
• Communities are very pro-business and pro-development.

The North Kane County submarket’s initial growth was spurred POPULATION 2000 2010 % CHANGE
by manufacturing and production operations throughout the State of Illinois 12,419,293 12,830,632 3.3%
60’s, 70’s and 80’s. This submarket then began to emerge as a Kane County (6th Largest)
leading distribution market in the 90’s, growing at a steady pace City of Elgin (8th Largest City) 404,119 515,269 27.5%
and it remains a competitive and sought after market for users and 94,487 108,188 14.5%
investors.

The close proximity and easy access to O’Hare International Airport as well as two metro commuter rail stations connecting the area to
Chicago has enabled the North Kane submarket to be a part of Chicago’s nexus of globalization with a multitude of international firms
having located here such as Seimens- Wynergy Division, NTN Bearing, Bohler Uddeholm, Federal Signal and many others.

Elgin also hosts numerous corporate headquarters for major companies such as J.B. Sanfilippo & Son’s (Fisher Nuts), Box Packaging,
CTDI, Colony Display, Weber-Stephens (Weber Grill) and Elgin Sweeper.

The City of Elgin enjoys the largest industrial base in this submarket and has consistently maintained a very pro-business and pro-
development philosophy. Municipal leaders have also re-invested heavily in infrastructure and a revitalization of the downtown area
to ensure continued growth. There is an excellent housing stock as well as community gems such as Elgin Community College which
contribute greatly to the sought-after workforce in the area.

NORTH KANE SUBMARKET OVERVIEW

SUPPLY OVERVIEW

A detailed summary of the current class “A” industrial inventory appears on the following pages. These options comprise the existing
supply of space from 50,000 square feet and up, that offer at least 28’ ceiling clearance, modern distribution center amenities and are
located within the North Kane County Submarket.

Currently, there are ten (10) options available with the following highlights

Total Space Available: 1,553,582 SF

Average Unit Size: 86,310 SF

Class A Vacancy Rate: 4.54%

It is important to note that the second largest vacancy, although newer and 30’ clear, is very functionally limited as a single-load facility
that is over 400’ deep. If we were to exclude this option as part of the primary competition, the vacancy rate for this segment of the
market would drop to 3.66%.

Additionally, there are three (3) users actively negotiating leases on ±375,000 SF of this space. We anticipate that these transactions will
be completed within the next sixty (60) days and all require occupancy this year. This will bring the vacancy rate for this segment of the
market down below 3%! Lastly, as you will see later in this section, there is qualified demand from users in this submarket actively requiring
1.8 to 2.5 million square feet of space, which clearly demonstrates the pending supply shortage and supports the need for this new
project.

SUPPLY ANALYSIS

SUPPLY OVERVIEW

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SUPPLY ANALYSIS

DEMAND OVERVIEW- ACTIVE PROSPECTS

PROSPECTS IN THE MARKETPLACE
SF Range
North Kane Submarket

Updated June 2014

PROSPECT MINIMUM SF REQUIREMENT MAXIMUM SF REQUIREMENT

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TOTALS: 0,000,000 0,000,000

USER DEMAND ACTIVITY

DEMAND OVERVIEW - LEASE TRANSACTIONS

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LEASE COMPARABLES

A. Section 1 CHAPTER FOUR
B. Section 2

SECTION 1 I
a
A b
B c
d
C e
f
D
E VISIT OUR WEBSITE
F
SECTION 1
G
H