1345 WABASH SOUTH LOOP CHICAGO, ILLINOIS, USA FEBRUARY 2015
CHICAGO ECONOMY AT A GLANCE Ranked seventh worldwide in AT Kearney’s Global Cities Index Headquarters for 31 Fortune 500 Companies and over 500 publicly traded companies including United Airlines and Boeing Home to five major financial exchanges, including the Chicago Mercantile Exchange (CME Group) and the Chicago Board Options Exchange (CBOE) Chicago is projected to grow into a new “megacity” region by 2030. Named ‘Top Metro” in North America for corporate relocation and expansions with 10,000 new jobs and $2.8 billion in investment. 3
CHICAGO ECONOMY & PROPERTY MARKET Economy Property Market Gross Metropolitan Home Affordability Ratio 3.6x USD590b Product (GMP) 3rd largest in the Home Ownership Rate 45% GMP Rank US Economic Growth % of Housing in Multi-Unit 2.5% 71% Rate Structures Per Capita Income USD 49,071 Rental Vacancy Rate 3.8% Unemployment Rate 5.8% Nov.14 Median Rent Growth 4.4% Population Growth Jan ’14 -Jan ’ 15 0.9% Apr’10 - Jul’13 Source: U.S. Census Bureau; Bureau of Labor Statistics; Zillow; Bureau of Economic Analysis; Marcus & Millichap ; 4
MACROECONOMIC OUTLOOK Chicago metro added over 40,000 jobs in the 12 months to Sep. 2014, led by the professional and business services sector with 20,000 new jobs Chicago go Nearly 542,000 people have jobs in the CBD United d State tes in 2014, the most since at least 1991 $320 million digital manufacturing design lab will be built in Chicago making Chicago the leading hub of advanced manufacturing O’Hare Airport Northeast Cargo Centre, with committed investment of nearly $200 million will: • Create over 10,000 jobs • Make O’Hare one of the world’s largest air cargo hubs $25 million Central Loop Bus Rapid Transit system will start operation in 2015 Source: Bureau of Economic Analysis; Marcus&Millichap; CBS Chicago; City of Chicago; World Business Chicago; Illinois Association of Realtors Q3 2014 5
CHICAGO PROPERTY MARKET & OUTLOOK S&P Case Shiller All Home Index and Condo Index both recorded 24 consecutive months of price growth in Chicago as of October 2014 After 2 years of phenomenal growth, the market started to stabilize and growth is continuing at a sustainable level Limited new construction supply in the near term Residential constructions in the pipeline has plummeted 80% since 2005 and is 17% below 8-yr average now. Among major U.S. cities, Chicago is among the most attractively priced relative to pre- recession peak (Case-Shiller condo index still approximately 24% below 2007 peak) Source: S&P Case Shiller Index; Zillow; National Association of Realtors Local Market report 2014 Q3; ChicagoNow.com; Chicago Metro Area Real Estate 6
PRICE TREND COMPARISON 140 Case-Shiller Home Price Index 10-Year Performance 130 Chicago New York 120 +8% from trough 110 Stabilization Period 100 90 +17% from trough Stabilization Period 80 70 60 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 Source: S&P Case Shiller Index; 7
US PRIME MARKET YIELD COMPARISON “ Chicago offers among the highest average yields* & lowest price points in major US cities” 9.0% 8.0% 8.0% 7.0% 5.8% 6.0% 5.0% 4.8% 5.0% 4.0% 2.7% 3.0% 2.0% 1.0% 0.0% Manhattan Los Angeles San Francisco Boston Chicago Source: Zillow Median listing rent / Median listing price 8
TRANSACTION & OWNERSHIP COST COMPARISON New York Chicago Entry En Carr Carry Exit Exit En Entry Car arry Exit Exit Approximate Approximate 1.825% 1.825% 0.75% 0.45% Transfer Tax Transfer Tax Combined Combined 21% 20% CGT* CGT* Combined Combined 16% 15% Income tax* Income tax* Property tax 1.5% Property tax 1.72%** Mortgage Mortgage 2.175% N/A Recording Tax Recording Tax Numbers rounded *Capital Gains rates assume highest CGT bracket; Income tax rates assume lowest income tax bracket; **Chicago property tax assumes the highest rate 9
CHICAGO’S SOUTH LOOP One of the fastest growing residential neighbuorhoods in the city Heavily industrial until the 1970s, when the city rezoned the area for residential; spurring massive regeneration Residential population has grown 80% since 2000 Named one of Chicago’s top 12 neighbourhoods to live by Chicago Magazine Source: Choose Chicago, City U.S. Census Bureau, Chicagoland Chamber of Commerce; Chicago Magzine 10
100 110 120 130 140 CHICAGO CONDO MARKET BY AREA Source: Zillow 60 70 80 90 Feb 2012 Mar 2012 Trough-Current Peak-Trough Apr 2012 May 2012 Jun 2012 South Loop Chicago Jul 2012 Aug 2012 Sep 2012 Oct 2012 Nov 2012 Dec 2012 Jan 2013 All Chicago Feb 2013 Near North The Loop Mar 2013 Apr 2013 +15% May 2013 -34% Jun 2013 Jul 2013 Aug 2013 Sep 2013 The Loop Oct 2013 Nov 2013 Dec 2013 Jan 2014 Feb 2014 +18% -30% Mar 2014 Apr 2014 May 2014 Jun 2014 Sou South Loo Jul 2014 Loop Aug 2014 Sep 2014 +13% +13% -26% Oct 2014 26% Nov 2014
LIFESTYLE Field Museum of Natural History Soldier Field Home to: Grant Park Soldier Field (Chicago Bears) Field Museum of Natural History The Shedd Aquarium 5 Schools and Universities 28 Bars and Restaurants 7 Grocery Stores The Shedd Aquarium University of Chicago
LIFESTYLE Grant Park OUTDOOR ACTIVITIES abound with Chicago’s lakefront and Grant Park nearby, or pause at a multitude of restaurants and eateries Lake Front Millennium Park
1345 WABASH 144 unit freehold condominium building in Chicago’s fast growing South Loop neighbourhood Completion scheduled for Q2 2015 Loft-style units feature 10 foot ceilings, balconies, modern appliances and sleek modern finishes Prices from USD 249,900 Anticipated gross yields of up to 8.2% Optional parking available 50% LTV available Exclusive to IP Global outside the U.S. 14
AERIAL VIEW
LOCATION
TRANSPORT 4 minutes walk to Roosevelt Station providing access to • Red Line • Green Line • Orange Line Less than 10 minutes to the Loop by train Walking distance to • Grant park • Soldier Field • The Field Museum • Shedd Aquarium • Millennium Park 18 minutes on Orange Line to Chicago Union Station providing access to 15 regional rail and Amtrak national rail services 6 minute drive to Interstate Highways 290, 90 & 94 17
GREEN-LEED CERTIFIED BUILDING GREEN-LEED CERTIFIED BUILDING with Green Roof, Energy Efficiencies, Green Power, Recyclable Collection, Air Quality Management and use of Renewable Finish Materials Images shown are indicative artist’s impressions and for representation purposes only 18
INTERIOR Images shown are indicative artist’s impressions and for representation purposes only 19
DEVELOPER- CMK COMPANIES PREVIOUS CMK PROJECTS • Founded in 1996, CMK Companies is a leading Chicago real estate firm that has helped redefine the concept of urban living with its award-winning contemporary buildings*. The company is responsible for over USD1 billion in real estate development. Kitchen / Dining / Living Room • CMK Companies pursues a ceaseless quest for quality, value, and intelligent design for contemporary living with each development project, partnering with the industry’s formative architects and employing leading-edge materials and technologies * Recipient of over 19 awards Recipient of over 19 awards and distinctions, including the National Honour Award by the American Institute of Architects Kitchen / Dining / Living Room Bedroom *Photos of previous project that has similar specifications with 1345 Wabash 20
SPECIFICATION RESIDENCE BEDROOMS • • Tall, abundant 10’ ceiling heights with exposed concrete Luxury carpeting • surfaces (per plan) Vinyl-clad wire closet shelving • • Secure, solid-core entry doors Switched outlets • • Brushed-chrome door levers and hardware Phone, cable and high-speed internet connections • Individual washer/dryer hook-ups MASTER BATHROOM • • Individual HVAC system, offering on-demand A/C or Heat Duravit floating vanity with drawer & integrated sink • • Floor-to-ceiling windows (per plan) Grohe single-lever premium faucet • KITCHEN Toto single-piece toilet • • European-style kitchens Duravit architect tub or shower basin (per plan) • • Florense flat -panel, wood veneer cabinetry Grohe tub/shower fixtures • • Frigidaire Stainless steel appliances, Gas Range/Oven, TransCeramica Architectural tile floors & tub/shower Dishwasher, Refrigerator, Microwave & Garbage Disposal surround • • Quartz countertops Grohe towel bar, toilet paper and robe hook • • Large, single basin, under mount stainless steel sink Vanity-width frameless mirror • Grohe single-lever premium faucet with integrated pull-out SECONDARY BATHROOM • sprayer Duravit floating vanity with drawer & integrated sink • LIVING/DINING Grohe single-lever premium faucet • • Surface mounted dome lighting and track lighting (per plan) Toto single-piece toilet • • Engineered flooring Duravit architect shower basin • • Phone, cable and high-speed internet connections Grohe shower fixtures • • Computer alcove (per plan) TransCeramica Architectural tile floors & shower surround • Grohe towel bar, toilet paper and robe hook • Vanity-width frameless mirror
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