FOR SALE
FOUR CARSON PIRIE SCOTT PROPERTIES AVAILABLE WITH ZERO CASH FLOW DEBT OR ALL-CASH BASIS INDIVIDUALLY OR AS A PORTFOLIO

North Riverside IL | Merrillville IN | Bloomingdale IL | Matteson IL
THE
OFFERING
CBRE is pleased to present this offering memorandum for the sale of a portfolio of four Carson Pirie Scott department stores located in two states, Illinois and Indiana, totaling 635,500 square feet of retail space. The portfolio is offered as a leveraged zero-cash-flow investment, with attractively priced, non-recourse loans that mature in January 2024. The properties have absolute triple-net bondable leases with no landlord responsibilities which expire in January 2024. Carson Pirie Scott (CPS Department Stores, Inc.) is a wholly owned subsidiary of Bon-Ton Stores, Inc.  The leases are guaranteed by Saks Holdings, Inc. through the end of the leases in January 2024. The properties are ideal for an investor with an immediate 1031 exchange requirement, with the potential to create significant value or cash flow when the leases expire in 2024.  

The properties are available individually or as a portfolio.  They may be purchased with the assumption of the existing debt, or on an all-cash basis.
OFFERING
SUMMARY
Address 7505 W.
Cermak Rd.		 1995 Southlake Mall 4 Stratford Square Mall 300 Lincoln Mall Drive
City North Riverside Merrillville Bloomingdale Matteson
State IL IN IL IL
Commencement Date 8/5/98 8/5/98 8/5/98 8/5/98
Size 180,550 144,000 147,000 163,950
Rent $1,179,690 $870,698 $1,098,360 $1,145,318
Exp. Date 1/31/2024 1/31/2024 1/31/2024 1/31/2024
Loan Bal.
9/30/2016		 $9,568,300 $7,086,967 $8,833,316 $9,320,008
Debt Service $1,179,690 $870,698 $9,320,008 $1,145,318
Cash Flow $0 $0 $0$0
OFFERING
summary
+ 
Strong and Secure Tenancy
+ 
Favorable Non-Recourse Debt Structure may be assumed
+ 
Low Equity Investment
+ 
Properties in Good Locations
+ 
Passive Ownership
+ 
Ideal for Tax Deferred Exchange
+ 
Long Term Leases with Significant Cash Flow Upside and Investor Flexibility
CONTACT
information
MICHAEL KAIDER
First Vice President

+1 630 573 7015
michael.kaider@cbre.com
STERLING CHAMP
Executive Vice President

+1 818 502 6769
sterling.champ@cbre.com
Lic. 01325158
 
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