Aurora Commons

Value-Add Opportunity through Stabilization | 12.7% 5 - Year NOI CAGR

o  Tremendous upside potential to add nearly $500k in ABR and achieve a 5-Year NOI CAGR of 12.7% through the lease up of 31,097 SF

o  10 vacant units, 7 of which are under 4k SF, allow for lower risk and create income diversification opportunities

Strong Leasing Momentum | 2 New Anchor Leases

o  Five Below and DD’s Discounts (Ross Stores, Inc) joined the high credit anchor lineup with new leases in 2020 bringing anchor occupancy at Aurora Commons to 100%

o  The new anchor leasing spurred an increase in shop space demand a potential investor can take advantage of with the property seeing two new leases and 6 renewals since this anchor stabilization

45% of Income Attributable to Investment Grade Tenancy

o  A2 Tenancy – Ross Dress for Less and dd’s Discounts (37% of income) fall under Ross Stores, Inc. #189 on 2022 Fortune 500

o  Baa2 Tenancy – Dollar Tree (8% of income) falls under Dollar Tree, Inc. which owns​​​​​​​ another iconic discount brand – Family Dollar #137 on 2022 Fortune 500

High-Performing Shadow Anchor

o  Cermak Fresh Market is one of two grocers within a 3-mile radius, and it outperforms its competitor by more than 10x for annual traffic counts

o  Loyal and Local Consumer Base

o  Est. $54M in annual sales

o  70% of visits in TTM came from visitors who came to the center 5+ times

o  70% of consumer base comes from within 3-mile radius

o  Nearest Cermak Fresh Market is 30+ miles away

Advantageous Tax Benefits within Chicago MSA

o  Chicago property taxes grew 31% from $35.9bn to $47.0bn between 2018 and 2021

o  Kane County property taxes grew only 14% from $15.7bn to 17.9bn between 2018 and 2021

o  Aurora Commons is 40 miles west of downtown Chicago and 12 miles west of downtown Naperville