Property Details
Below Market Rents  Repositioning Opportunity 
Asset Profile
Opportunistic

Kiddie Academy Countryside (Chicago MSA) & Value Add Office Redevelopment

Countryside, IL

Educational Property

Only 10 spots left to invest

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The Woodmont Company Fort Worth, TX
The Woodmont Company
  • IRR 23.89%
  • Equity Multiple 1.48x
  • Hold Period 23M
  • Minimum Investment $25K
  • Year 1 Cash on Cash N/A
  • Stabilized Cash on Cash N/A
  • First Distribution Sep 2023
  • Distribution Frequency Yearly
  • Co-Investment 10% ($165K)
  • Preferred Return 8%
  • Investor Profit Share 60%
  • Asset Profile Opportunistic
  • Loan-to-Value 75%
  • Current Occupancy 59%

About this Property

"Redevelopment of value add office building with an award winning Kiddie academy Franchisee in the Chicago MSA."

-Stephen Coslik, The Woodmont Company

Address 1023 West 55th Street
Square Footage 25,039 sq. ft. Rentable Area
32,000 sq. ft. Gross
# of Units 9
Current Occupancy 59%
Market Occupancy 93.88%
Average Market Rents $17.86/sq. ft.
Total Project Cost $6,500,000
Price per Square Foot $203.13(1)
Stabilized Loan to Value 66.2%
(1)Based on total project costs including redevelopment renovations

"The Company has not yet formally applied for the building permit necessary to commence construction of the Project or for subdivision approval to create the Additional Parcel. However, the Company has received all other Approvals. The Company estimates that it will submit its application for a building permit for the rest of the Approvals by October or November 2021, which should take about two months to obtain. See PPM for details."


Top Questions

All answers are provided by the sponsor, The Woodmont Company, or its representatives.

 

Why are you buying this property?

Stephen Coslik, The Woodmont Company: "The property presents the unique opportunity to buy an existing asset with cash flow and lease approximately 50% of the building to a single tenant Kiddie Academy Franchisee."

 

What are the most important aspects of this investment opportunity for the investors?

Stephen Coslik, The Woodmont Company: "This property is currently under leased for the market and by coming in with a lead tenant, there is an opportunity to stabilize the property with a long term term lease creating additional value."

 

What is your investment strategy/business plan for the Property?

Stephen Coslik, The Woodmont Company: "Retrofitting the existing space for Kiddie Academy, improving the building to allow the lease up the vacant suites and extend leases of the current tenants; and upgrades to the building and adding a tenant with a long term lease."

"Plan is to sell the renovated (and leased up) property in under 2 years in order to recycle investors capital quickly while providing for strong returns."

 

How has COVID-19 impacted your business plan?

Stephen Coslik, The Woodmont Company: “Day care is considered an essential business.”

 

What are the risks and how are you mitigating those risks?

Stephen Coslik, The Woodmont Company: "Fixed price construction contract with a well established general contractor."


"The Company has not yet formally applied for the building permit necessary to commence construction of the Project or for subdivision approval to create the Additional Parcel. However, the Company has received all other Approvals. The Company estimates that it will submit its application for a building permit for the rest of the Approvals by October or November 2021, which should take about two months to obtain. See PPM for details."

NOTE: All answers provided by the sponsor, The Woodmont Company, or its representatives.

About this Property

"Redevelopment of value add office building with an award winning Kiddie academy Franchisee in the Chicago MSA."

-Stephen Coslik, The Woodmont Company

Address 1023 West 55th Street
Square Footage 25,039 sq. ft. Rentable Area
32,000 sq. ft. Gross
# of Units 9
Current Occupancy 59%
Market Occupancy 93.88%
Average Market Rents $17.86/sq. ft.
Total Project Cost $6,500,000
Price per Square Foot $203.13(1)
Stabilized Loan to Value 66.2%
(1)Based on total project costs including redevelopment renovations

"The Company has not yet formally applied for the building permit necessary to commence construction of the Project or for subdivision approval to create the Additional Parcel. However, the Company has received all other Approvals. The Company estimates that it will submit its application for a building permit for the rest of the Approvals by October or November 2021, which should take about two months to obtain. See PPM for details."


Top Questions

All answers are provided by the sponsor, The Woodmont Company, or its representatives.

 

Why are you buying this property?

Stephen Coslik, The Woodmont Company: "The property presents the unique opportunity to buy an existing asset with cash flow and lease approximately 50% of the building to a single tenant Kiddie Academy Franchisee."

 

What are the most important aspects of this investment opportunity for the investors?

Stephen Coslik, The Woodmont Company: "This property is currently under leased for the market and by coming in with a lead tenant, there is an opportunity to stabilize the property with a long term term lease creating additional value."

 

What is your investment strategy/business plan for the Property?

Stephen Coslik, The Woodmont Company: "Retrofitting the existing space for Kiddie Academy, improving the building to allow the lease up the vacant suites and extend leases of the current tenants; and upgrades to the building and adding a tenant with a long term lease."

"Plan is to sell the renovated (and leased up) property in under 2 years in order to recycle investors capital quickly while providing for strong returns."

 

How has COVID-19 impacted your business plan?

Stephen Coslik, The Woodmont Company: “Day care is considered an essential business.”

 

What are the risks and how are you mitigating those risks?

Stephen Coslik, The Woodmont Company: "Fixed price construction contract with a well established general contractor."


"The Company has not yet formally applied for the building permit necessary to commence construction of the Project or for subdivision approval to create the Additional Parcel. However, the Company has received all other Approvals. The Company estimates that it will submit its application for a building permit for the rest of the Approvals by October or November 2021, which should take about two months to obtain. See PPM for details."

NOTE: All answers provided by the sponsor, The Woodmont Company, or its representatives.

Offered By

The Woodmont Company

The Woodmont Company

Fort Worth, TX

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Assets Under
Management

Currently
$244.81MM 10+ assets
Exited
$500MM 10+ assets
Portfolio LTV
43.7%  
Historical
Realized Returns

Total IRR
24.4%  
Equity Multiple
1.6x  
Annual Cash
11.6%  
Years Of
Experience

As Principals
30+ years  
In Business
41 years  
Size
70 Staff  
* All information is reported by The Woodmont Company as of 5/21/2021.
Assets Under
Management

Currently
$244.81MM 10+ assets
Exited
$500MM 10+ assets
Portfolio LTV
43.7%  
Historical
Returns

Total IRR
24.4%  
Equity Multiple
1.6x  
Annual Cash
11.6%  
Years Of
Experience

As Principals
30+ years  
In Business
41 years  
Size
70 Staff  
* All information is reported by The Woodmont Company as of 5/21/2021.

Financials

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Offering Financial

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Location Details

Countryside, IL

Stephen Coslik, The Woodmont Company: "The property located at 1023 Countryside LLC is in a dense population of over 81,000 people located within a 3-mile radius with average household incomes over $170,000. Only one competitor in a 3 mile radius."

Documents

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Offering Agreement Documents

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