State & Division

Prime Gold Coast Location Poised for Tenant Success

1. Located in one of Chicago’s most active retail and dining corridors, minutes from Rush Street, Oak Street, and 0.1 miles from the Red Line (40M annual riders) – with a daytime population of 142K in 1-mile radius
2. The Gold Coast draws 18M+ annual visits, with an average dwell time of 2.7 hours
3. Significant development in immediate vicinity including 7 W. Elm (304 residential units) and “Newberry on the Triangle,” a 75,000 SF retail and experiential redevelopment at the base of the 624-unit Newberry Plaza

Stable Food & Beverage Tenant Mix Built for Daily Traffic

1. Chicago Teahouse recently extended for 5 years (through Nov-2030) and Chipotle recently extended for 10 years (through Oct-2035)
2. +/- 41% of income is Chipotle, +/- 33% of income is Brown Bag Seafood, and +/- 26% of income is from Chicago Teahouse
3. Within a 1-mile radius, there is $286M total annual spending on “Food Away from Home”, growing to $1.04B in a 3-mile radius

Immediate Access to Affluent & Dense Consumer Base

1. In 1-Mile Radius:Average household income of $194,325 with over $12.86B in buying power
2. 27.8% population growth since 2010
3. In the Gold Coast, average home value is $837,268, and 25.5% of residents have a net worth of $2,000,000 or more

Long Term Inherited Upside

1. Chipotle is currently paying over +/- 20% below market rent on 43% of the Property
2. Chicago Teahouse, who is currently +/- 18% below market, rolls to a fair-market-value option in Nov-2030, enabling a +/- 3% 5-Year NOI CAGR
3. Zoned DX-7 (Downtown Mixed-Use District) providing maximum future development potential and optionality