Commercial Real Estate Property profiles W WWWW-
WSUMMER 2009
www.naitrue.com
4525 Wabash Ave. Suite A Springfield, IL 62711 217.787.2800
Office
www.naitrue.com Office/General Residence for Sale 151 Bruns Lane (2000 Timberbrooke Drive) Springfield, Illinois • Building size is +/- 11,000 square feet. •approximate lot size 140 ft x 150ft • Building is priced with the expectation that the new owner will make substantial renovations which may include installation of an elevator. • List Price: $569,000.00 Office/Retail Lease 520 E Capitol Springfield, IL •Building Size: +/- 2500 Square Feet • Suitable for professional offices or retail uses. • New front Facade in process • Lease Price: $2,200.00/Month
Office Lease/Sale 1128 S. 5th Street Springfield, IL • Building Size +/- 1845 sq. ft. = basment for storage • Interior Space: 1st Floor- 4 private offices, reception area, two restrooms • 2nd Floor- 2 private offices and restroom • List Sale Price: $89,500.00 •List Lease Price: $1,100.00 per month Office Lease 421 W S Grand Ave Springfield IL • Total Apx SF: 2000 (located on the first floor) • Building offers many amenities including security, atrium and A type co-tenants. • Improvements: Carpet Tile & Paint • Lease $/SF: $13.50
Office Lease or Sale “RENT FREE” 531 E. Washington • Five Story office building with +/- 15,879 sq ft. plus basement area of +/-3,045 sq. ft. • Owner willing to condo the building for commercial use. • Floors 2 through 5 are also available for lease at $10.50 per square foot. • List Price $2,095,000 Office/Retail/Warehouse Lease Location: 917 Clocktower, Springfield IL • Building Size: +/- 11,500 S.F. • warehouse space and loading dock of +/835 sq. ft. • Owners are willing to upgrade the interior • Rental Rate: $8.50 per sq. ft. +utilities +janitorial
Office for Sale 1220 Outer Park Dr Springfield IL • Building Size: +/- 27,000 sq. ft. Land Area: +/- 1.56 Acres Corner Lot • On Site Parking: +75 Spaces • Accessibility: 2,500 lb. hydraulic elevator-3 stops • List Price $1,250,000.00
Office Lease “RENT FREE” 414 E Monroe Springfield IL • Space size: +/- 2100 sq. ft. main floor +/-650 sq. ft. finished basement • very nice finished multipurpose room in basement • Tenant responsible for utilities, janitorial, and maintenance of mechanicals. • Lease Price: $1,500 per month Office Lease or Sale 2653 W. Jefferson Springfield IL • Building Size: +/- 1,389 Sq. Ft. • Owner will consider financing up to 10% of down payment • Lease term: month to month will consider long term lease • List Price: $797,000.00
Office Lease 4525 Wabash Avenue Springfield IL • Available Space for Lease: 2,000 - 7,366 square feet. Sizes are adjustable • Classic stonefaced exteriors and dramat ic roof lines set YellowStone apartas the exclusive Springfield shopping destination. • Base Rent $13.50/ Per Sq. Ft./ 3N Office Sale 2020 Timberbrooke Springfield, IL • Building Size: Main Floor +/- 1779 Lower Level +/- 1779 • Wired for data communications • Offi ce furniture included in purchase • 12 Parking Spaces • List Price $229,500.00 Office For Sale 965 Clocktower Springfield, IL • Building size: +/- 2,193 SF • Zoning: Retail/Office • Formerly American Home Mortgage • Building design allows for 1 or 2 users • Interior - new carpet and paint • List Price: $229,500.00
Office For Sale 901 S. 2nd Street Springfield, IL • Building Size: +/- 12,796 SF • Masonry 3 level building • Close to state capitol • On site parking • Current Tenants month to month • List Price: $895,000.00
Retail/Commercial
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Retail/Commercial Sale or Lease 1020 Lincoln Ave Jacksonville, IL • Building Size: +/- 5500 sq. ft. • Land Area: +/- 1.26 Acres • Property includes restaurant furniture, fixtures, equipment and Professional Order System. • List Purchase Price: $695,000.00 List Lease Price: $5,900.00 Per Month
Retail/Commercial Lease 3101 COCKRELL LN Springfield, IL. •Retail/office opportunity on lower level area +/- 903 sq. ft. • Upper level +/- 903 sq. ft. for storage space. • leasing opportunity offered at $900 per month plus utilities and janitorial.
Retail/Commercial for Sale 955 Durkin Drive Springfield IL • Building Size: +/- 3440 • Land Area: +/- 7,675 Sq.Ft. • 2007 Real Estate Taxes:$4,357.58 • List Price $175,000.00
Office for Sale 4151 W Jefferson • Building Size: +/- 13,100 sq. ft. Warehouse/shop +/- 7,878 sq. ft. Retail & Office +/- 5,222 sq. ft. • Acres: +/- 4.11 • Fenced Storage Yard • Parts Dept. & Shop Area have Mezzanine • List Price: $675,000.00
Retail/Commercial Office
217-787-2800 Retail/Commercial for Sale 3045 Stanton Drive Springfield, IL • Main Building: Size +/- 6300 sq. ft. Service Building: +/- 2,176 sq. ft. • Land Area: +/- 2.13 Acres • Main building is a steel structure and has a fire protection sprinkler system. • List Price $395,000.00
Retail/Commercial for Lease 4525 Wabash Avenue Springfield IL • Available Space for Lease: 2,000 - 7,366 square feet. Sizes are adjustable • Classic stonefaced exteriors and dramat ic roof lines set YellowStone apartas the exclusive Springfield shopping destination. • Base Rent $13.50/ Per Sq. Ft./ 3N
Retail/Commercial for Sale 4580 Wabash Avenue Springfield, IL • Building Size: + 6,528 sq. ft. (48’ x 136’) • Land Area: + 5.42 acres (236,095 sq. ft.) • Formerly used as a church, the property is best suited for a commercial use. •List Purchase Price: Confidential
Retail/Commercail for Sale Nazarene Camp 11380 Darnell Rd, Mechanicsburg, IL Parcel A • Campground • Land Area: +/- 30 Acres • List Price $1,594,000.00
Industrial/Warehouse Industrial/Warehouse for Sale 1615 –1725W Jefferson Springfield, IL • Space Leased: 23,000 sq. ft. • 2007 Real Estate Taxes: $36,135.92 • Land Area: +/- 6.28 Acres • Building Size: +/- 58,645 sq. ft. (Per Appraisal) • Available Space: +/- 35,645 sq. ft. • List Price $1,450,000.00 Industrial/Warehouse for Sale/Lease 1615 W Jefferson Springfield, IL • Building Size: +/- 58,645 sq. ft. (Per Ap praisal) Available Space: +/- 35,645 sq. ft. • Land Area: +/- 2.75 Acres • Space Leased: 23,000 sq. ft. • List Price $1,000,000.00 Lease Price $4.00 per sq. ft.
Industrial/Warehouse for Lease 1801 Business Park Drive Springfield IL • Available Space: 38,400 sq. ft. • Building Size: + 104,988 sq. ft. (Per MAI appraisal) • The available office/warehouse building has four loading docks and one grade level overhead door.
Industrial/Warehouse for Sale 39637 260th Ave. Pittsfield, IL • 4 BUILDINGS AVAILABLE • 13.11 Acres • Easy Access to Interstate 72/US 54 • Flexible Floor Plan •List Price: $2,500,000.00
Industrial/Warehouse For Sale 1015 E Madison Springfield IL • Building Size: +/- 6,250 Sq. Ft. • There is a billboard on the property that generates a lease income of $3,000.00 annually per the owner of the property. • List Price: $195,000.00
Industrial/Warehouse For Sale 2731 North Dirksen Parkway 2801 North Dirksen Parkway Springfield, IL • CONTIGUOUS PROPERTIES • 2801 North Dirksen Parkway: $700,000.00 • 2731 North Dirksen Parkway: $500,000.00
Industrial/Warehouse for Sale 800 N 10th Street Springfield, IL • Building Size: +/- 78,900 sq. ft • features include: loading docks, sprinkler system and three elevators (one 2,500 pound and two 4,000 pound). • List Price: $1,100,000.00
Land Land For Sale 3406 Clearlake Springfield IL • Land Area: +/- .6 acre (+/- 106 Ft. Frontage & +/- 255 Ft. Deep) • Very hi-visibility next to I-55 & I-72 inter change. • One of Springfield’s best commercial/ retail locations. • List Price: $150,000.00 Land For Sale 3851 S 6th Springfield Illinois • +/- 2.2 Acres • High visibility with easy access. • Excellent location for hotel/restaurant. • Street frontage +/- 306 Feet. • List Price: $1,295,000.00 Land For Sale 4400 Block of Wabash Springfield, IL • Lot Size: Unit B: 1.309 Acres Unit C: 2.575 Acres • Purchase will be subject to owners approval of buyers use of property. • Purchase Price: Unit B: $11.00 per sq. ft. Unit C: $8.00 per sq. ft.
Land For Sale 5100 Ash Grove (Fronts Wabash) Springfield IL • Lot Size: +/- 2.00 Acres • Owner desires build to suit or land lease. • Purchase will be considered with 1031 Tax Deferred Exchange provision. • List Price $10.50 per square foot Land For Sale Peerless Mine Road Springfield, IL • Land Area: +/- 2.49 Acres • There is a recent survey on file. • An exceptional value at less than $1.00 per square foot. • List Price: $79,500.00 Land For Sale 11380 Darnell Rd, Mechanicsburg, IL Parcel B • Land Area: +/- 17 Acres • List Price $134,900.00
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Land
www.naitrue.com Land For Sale 2219 Shale Street Springfield, IL • Land Area: + .87 Acre + 37,897 sq. ft. • 2006 Real Estate Taxes: $594.62 • The surrounding developed real estate properties promote stability of values. •List Price: $95,000.00 (+$2.50 per S.F.) Land For Sale Old Jacksonville Road Springfield, IL • +/- 38 Acres of Prime Development Land • This property presents an extraordinary opportunity for a larger user to benefit from development profits on portion of land not needed by user. • List Price: $2,750,000.00 (+/- $1.65/SF)
Land For Sale Wabash West Business Park Springfield, IL • Lot Sizes: Lot sizes vary - purchaser may purchase single lots or a combination of lots. • Save Sales tax on building materials plus a portion of real estate taxesover 3 years! • Over 40% of the building lots SOLD.
Land For Sale Rt. 54 & Gatlin Drive Springfield, IL • Land Area: + 8.28 Acres • Owner will consider splitting the parcel. • The Enterprise Zone Sales Tax Exemption on building materialsallows materials to be purchased within the state of Illinois free of city and state sales tax. • List Price: $2,175,000.00 (+$6.03 per S.F.) Land For Sale 805-819 S. 5th Street 816 S. 4th Street 420 E. Lawrence Street • Assembled lot size +/- 42,560 sq. ft • This site has access from 4th Street. Excellent site circulation opportunities. • List Price: $349,500.00 (8.20 per sq. ft.)
Land For Sale Dirksen Business Park Springfield, IL • Location is in close proximity to the Interstate 55 and South Grand Cloverleaf interchange exit. • Dirksen Business Park clearly offers the ADVANTAGE sought out by the prudent business building developer.
Land For Sale Route 125 Pleasant Plains, IL •Land Area: +/- 3.68 Acres • Beautiful landscape with frontage on Route 125 and Grant Street. • Topography is rolling with mature trees. • Development possibilities include multiple home sites. • List Price: $82,900.00 Land For Sale 500-620 N Grand,537-555 W Elliott Avenue & 1139 North Bond Street Springfield, IL • +/- 6.04 Acres in Medical District • Remarks: Owner will consider dividing the site into two-three parcels • List Purchase Price: $8.00 per square foot Land For Sale 3070 Reilly Drive Springfield, IL • List Price Per Sq. Ft: +/- $5.63 • Land Area: +/- 1.056 Acre • Average Daily Traffic Count: S Dirksen Parkway 13,300-16,500 • List Purchase Price: $259,000.00
Land For Sale Walnut and Park Street Chatham, IL • Land Area: Parcel A +/- 3.14 Acres Parcel B +/- 3.63 Acres • Owner will consider selling Parcel A or Parcel B to separate buyers. • Traffic Counts: 7,100 Walnut Street/2,300 Park Street • List Price: $750,000.00 Industrial/Warehouse for Sale 415-505 N 6th (Medical District) Springfield IL • Lot Size: +/- 69,300 Sq. Ft. (+/- 1.59 Acres) • Street Frontage: +/- 456 • Traffic Counts: Carpenter: 10,000 6th Street : 10,900 • List Price: $1,800,000.00
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Land For Sale I-55 Frontage Rd Exit 109 (Vacant Land) Williamsville IL • Land Area: +/- .54 acre (+/- 23,522 SF) • Would be excellent site for small diner, gift shop, sandwich/ice cream shop/coffee shop. • List Price $99,000.00
Land For Sale 4501 Wabash Ave Springfield IL • Lot Size: + .96 Acres • Parking lot and site lighting already installed which would save purchaser approximately $4.00 per square foot to develop the site. • List Price: $585,000 Land For Sale 2800 E Cook Springfield, IL • Land Area: +/- 163,786 Sq Ft +/- 3.76 acres • Located in the Far East TIF District. • Located east of U.S. Post Office near Dirksen Parkway, just off Singer and Cook. • List Price: $475,000.00 Land For Sale 2207 N 5th Springfield, IL • Land area: +/- 19710 Sq. Ft. • 2007 RE Taxes: $1,777.62 • Previously listed at a much higher price, owner has decided to sell at a discount of +/- $4.50 per square foot. • List Price: $75,000 Land For Sale 1000 Koke Mill Road Springfield IL • Lot Size: +/- 1.847 Acres (+/- 80,455sq.ft.) • Probably the most active medical and office building construction area in Springfield. • Listing Agent has financial interest. • List Purchase Price: $550,000.00 Land For Sale 1100 W. Jefferson Springfield, Illinois • Land Area: +/- 15,682 Square Feet • Average Daily Traffic Counts: Jefferson Ave 15,600 • List Price: $69,500
NAI True
SPOTLIGHT Springfield At a Glance 116,482
Population
Central Illinois
Location
6.0%
Unemployment Property
Rent/SF/YR Low High
Vacancy Rate
Downtown Class A Office $16.00 $20.00 5.0%
Suburban Class A Office $17.00 $30.00 7.0%
Springfield: A City on the Grow • Springfield/Sangamon County is located in Central Illinois at the intersection of Interstate Highways 55 and 72, approximately 200 miles (320 kilometers) south west of Chicago, 100 miles (160 kilometers) northeast of St. Louis, and 193 miles (311 kilometers) west of Indianapolis
Industrial
Bulk/Warehouse $3.50
• There are distinct advantages to a Springfield/Sangamon County location in light of the ready access it provides to major consumer markets, suppliers of raw material and components, and transportation facilities and services. Also, this location enhances the cost effectiveness of all modes of transportation, while providing excellent means for inexpensive movement of components and final goods.
Retail Downtown
• As a “home-rule” unit of government, the City of Springfield may issue these bonds as a way to offer tax-exempt financing for qualifying manufacturing companies. Bonds are issued by the city, on behalf of the borrower, to finance new construction, rehabilitation, new equipment and other related developmental costs. Interest paid on the bonds is tax-free to investors, which induces lending at substantially lower costs - often as much as 2%-3% below convetional financing.
$10.00 $20.00 10.0%
About NAI Global
• Springfield and Sangamon County support the expansion and relocation of new and existing businesses. To entice this growth, a wide variety of financial programs are available. The Chamber has been proactive in assembling local taxing districts to draft and pass a local incentive policy that fosters a united regional community dedicated to providing a profitable place to do business.
• The Springfield zone is one of nearly a hundred in Illinois and has been extended to run until 2014. All additions to the zone must meet state regulations. Further information can be found here. Benefits for the zone include: sales tax deductions, property tax abatements, investment tax credit, machinery and equipment sales tax exemptions, utility tax exemptions, dividend income deductions and interest deductions.
9.0%
NAI True offers local market expertise in the greater Springfield area.
• This nationally central location, less than 120 miles (190 kilometers) from the population center of the United States, offers same-day or overnight transportation access to/from over one-third of the nation’s manufacturing firms.
• The City of Springfield has devoted a portion of its federal block grant (CDBG) funds to provide loans to businesses. These loans are required to meet HUD’s national objective of benefiting low to moderate income persons, which can be accomplished by requiring that a minimum 51% of jobs created or retained be filled by or made available to low—moderate income individuals. More information is available by at the City’s Office of Planning and Economic Development.
$6.00
NAI Global is one the world’s leading providers of commercial real estate services. We bring together people and resources wherever needed to deliver outstanding reults for our clients. At A Clance 321
Offices
55
Countries
5,000
Professionals
$45 billion
Annual Transaction Volume
200
MSF of Property Management
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Nichols not content with resting on past real estate successes By JOHN MOODY Editor The State Journal-Register john.moody@sj-r.com
Sam Nichols is something of an icon in the real estate business in Springfield. He’s been at it an awfully long time. So, why after 32 years in the business, would one of the founders of the successful firm, The Real Estate Group, want to change things up? Back in September, he went on his own and founded NAI True, a commercial real estate venture affiliated with a worldwide network, NAI Global. “We have a slogan: ‘We are relentless in the pursuit of excellence.’ My affiliation with NAI Global was a step to stay true to that slogan,” he says. And, he adds simply that he “didn’t want his clients to suffer.” The new company can, with the help of NAI’s long reaching tentacles, reach a vast market, one that dramatically increases opportunities for local real estate development. “The good news is that Springfield has a lot of land. The bad news is that Springfield has a lot of land,” Nichols says. Too much, he says, for a market the size of Springfield to absorb it all. To that end, Nichols, 64, says, his new affiliation will gain him exposure on a national and international level, especially for “some of the larger real estate properties that I’m marketing.”
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In the spring he plans to move his office to one of his previous developments, the elegant retail center known as Yellowstone at 4525 Wabash Ave. His feeling for the folks at The Real Estate Group remains strong. “I love these people,” he says from his current office just across the parking lot from his old job. “I have relationships with The Real Estate Group that are extremely meaningful to me — professionally as well as personally.” He takes pride in some of his past projects as he passes by in his car. “Sometimes, I say to myself (regarding a specific building), ‘I sold it once, or I sold it twice. Or, I leased it once,’” he says. He went strictly commercial about 15 years ago leaving the residential end of the business behind. His reason “Because it’s what I enjoy. I love the finance side of real estate. My passion is developing commercial buildings for clients and for myself. “It gives me the chance to use my creative gifts.” Things have gone OK for this veteran of the U.S. Air Force and former engineer with General Electric. He got his start in real estate with Charles Robbins back in 1976. He’s learned a few things along the way.
The most important components of his success are really quite simple: “God and my wife of 41 years, Lori,” whom he calls his best friend and greatest supporter. “I’m a believer. I believe God gave me the tools that I have, and he left it up to me to use them,” he says. No surprise that a spiritual person like Nichols would see his profession as something of a calling. “I love what I do. I’ve been extremely blessed with a vocation that brings me happiness,” Nichols says. “I’ve been blessed to work with some of Springfield’s finest people. I’m very happy.” For more information, call Sam Nichols at 787-2800, or 494-0800 or visit at www.naitrue.com.
Professional Affiliations & Designations Professional Affiliations: Capital Area Association of Realtors Springfield Chamber of Commerce Member and one the founders of Commercial Real Estate Network (CREN) International Council of Shopping Centers Non-Profit Board Affiliations: Salvation Army Advisory Board The Springfield Urban League Board
Awards: President’s Outstanding Award Capital Area Association of Realtors-2005
Significant Transactions University of Illinois-Department of Services for Crippled Children YellowStone Retail Center Southside Christian Church St. Johns Medical Building Illinois Association of School Administrators The Real Estate Group Office Building Administrative Office of Illinois Courts Centre West Office Park Quantum Centre E. L. Pruitt Business Facility Hope Evangelical Free Church Springfield Association for Retarded Citizens Wabash MarketPlace Northwest Centre Condominiums Crossroads United Methodist Church Capital City Educational Center (Lincoln Land Community College) American Heart Association Building FBI Surveillance Equipment Center
Growmark Feed Mill & Distribution Center SBC Asset Management, Inc. / Cingular Wireless Call Center Illinois Community Action Association Building Marine Bank Administrative Office Buildings Illinois Education Association Professional Development Center K’s Merchandise Mart Goodwill Industries Retail Store
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Buyers, sellers, landlords, tenants, investors and lenders need market information: What is selling?
Call Us to Dispell the Myths
Who is buying? Where are cap rates? What is leasing? Who are the tenants? At what rates are leases getting done? Are lease concessions being offered? What does absorption look like for the last quarter? What is the bid vs. ask differential? How much have prices moved?
The myths of what is required to own your own place of business, for your business, keep many business owners from buidling addition wealth Typical Myths (see below) • Banks are only source of financing • Financing terms are all the same
• Sources of down payment must come from borrower
For details call:
Sam Nichols President NAI True 4525 Wabash Ave Suite A Springfield, IL 62711 Tel: 217-787-2800
• Amount of down payment required • Partners required to get financing • Source of money for payments must come from owner • New is always better than existing • Importance of location
Information concerning these offerings comes from sources deemed reliable, but no warranty is made as to the accuracy thereof, and they are submitted subject to errors, omissions, change of price or other conditions, prior sale or lease, or withdrawal without notice. All sizes approximate.
Central Illinois Properties Exclusively Listed By: NAI True 4525 Wabash Suite A Springfield, IL 62711
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