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NET LEASED INVESTMENT OFFERING

PNC Bank (Ground Lease) 1996 Freedom Parkway Washington, IL 61571 (Peoria MSA)
CONFIDENTIAL OFFERING MEMORANDUM

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TABLE OF CONTENTS
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TABLE OF CONTENTS

1) 2) 3) 4) 5) 6) 7) 8) 9) 10)

Confidentiality & Disclaimer Executive Summary Property Overview Aerial Site Plan Maps Tenant Profile Demographic Comparison Report Location Overview Contact Information

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CONFIDENTIALITY & DISCLAIMER


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CONFIDENTIALITY CONFIDENTIALITY & DISCLAIMER


The information contained in the following Offering Memorandum is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from The Boulder Group and should not be made available to any other person or entity without the written consent of The Boulder Group. This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. The Boulder Group has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenants plans or intentions to continue its occupancy of the subject property. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, The Boulder Group has not verified, and will not verify, any of the information contained herein, nor has The Boulder Group conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

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EXECUTIVE SUMMARY
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EXECUTIVE SUMMARY
The Boulder Group is pleased to exclusively market for sale a single tenant PNC Bank ground lease located in Washington, Illinois. The PNC Bank is located on a 58,730 square foot parcel and was built in 2007. This ground lease is located as an outlot parcel to a Wal-Mart Supercenter and adjacent to a Menards. The Wal-Mart Supercenter was developed in 2003 as a relocation to replace a smaller location. Washington is 10 miles east of Peoria, the home of Caterpillar which employs over 17,000 people. The property is located along US 24 and benefits from its position on the hard corner of a signalized intersection. The intersection of Freedom Parkway and US 24 experiences traffic counts in excess of 21,000 vehicles per day. Over 9,000 cars travel in and out of the shopping center which features Wal-Mart, Menards and PNC Bank daily. The property is located within the primary retail trade area that includes retailers such as Wal-Mart Supercenter, Menards, Kroger, Tractor Supply, AutoZone, Advance Auto Parts and Dollar General. PNC Banks original ground lease term was for 20 years with three 10-year renewal options and the lease expires in December 2028. The net operating income increased by 14% every five years during the primary term and the options periods. PNC is a publicly traded company on the New York Stock Exchange (PNC), with a market capitalization of $30 Billion. PNC is an investment grade company with a Standard & Poors rating of A-.
INVESTMENT HIGHLIGHTS

Investment grade rated company (Standard & Poors: A-) Multiple 14% rental escalations in primary term Long term ground lease with 17 years remaining Positioned on the hard corner of a signalized intersection Outlot parcel to a Wal-Mart Supercenter Average household income in excess of $75,000 within five miles of the property No landlord responsibilities Nearby retailers include Menards, Kroger, Tractor Supply, AutoZone Advance Auto Parts and Dollar General Three 10-year renewal options

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PROPERTY OVERVIEW
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PROPERTY OVERVIEW
Price: Cap Rate: Rent Schedule:
$1,119,272 5.5%

NOI
$ 61,560 * $ 70,178 $ 80,003 $ 91,203 $103,972 $118,528 $135,122 $154,039 $175,605

Escalation Date
1/1/2019 1/1/2024 1/1/2029 1/1/2034 1/1/2039 1/1/2044 1/1/2049 1/1/2054

(Option 1) (Option 2) (Option 3) (Option 4) (Option 5) (Option 6)

Renewal Options: Renewal Escalations: Lease Commencement Date: Lease Expiration Date: Tenant: Credit Rating: Year Built Lease Type: Rentable Square Feet: Land Size:

Three 10-Year 14% increases every 5 years December 15, 2008 December 31, 2028 PNC A- (Standard and Poors) 2008 Ground Lease - NNN 3,501 SF 58,730 SF

* Seller to pay rent difference from the closing date until January 1, 2013 when the escalated rent commences.

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AERIAL
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AERIAL

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SITE PLAN
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SITE PLAN

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MAPS
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MAPS

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TENANT PROFILE
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TENANT PROFILE
PNC Financial Services is a diversified financial services company in the United States. PNC is engaged in retail banking, corporate and institutional banking, asset management, and residential mortgage banking. PNC provides many of its products and services nationally throughout 14 states. It provides certain products and services internationally. Retail Banking provides deposit, lending, brokerage, trust, investment management, and cash management services. Corporate and Institutional Banking provides lending, treasury management, and capital markets-related products and services. Asset Management Group includes personal wealth management for high net worth and ultra-high net worth clients and institutional asset management. PNC as of December 31, 2010, has assets of approximately $264.3 billion and 2,870 bank branches. PNC is the 6th largest bank in the United States by deposits and the 3rd largest provider in off premise ATMs.

Website: Number of Locations: Stock Symbol: Standard & Poors Rating: Market Capitalization:

www.pnc.com 2,870 branches and 6,400 ATMs NYSE PNC : A$30 Billion

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DEMOGRAPHIC COMPARISON REPORT


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DEMOGRAPHIC COMPARISON REPORT

Population Total Population Total Households Income Median Household Income Average Household Income

3-mi. 20,680 8,340

5-mi. 39,802 15,821

7-mi 84,697 34,462

$63,707 $72,511

$65,419 $75,409

$57,084 $65,866

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LOCATION OVERVIEW
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LOCATION OVERVIEW

Washington is a located in Tazewell County, Illinois. According to the 2010 census there Washington and Tazewell County had a population of 15,134 and 135,394 respectively. Washington is located 10 miles east of Peoria and is part of the Peoria Metropolitan Statistical Area. http://ci.washington.il.us/ http://www.tazewell.com/

seventh-most Peoria is the largest city on the Illinois River and the seventh most populated in Illinois, with a total population of 112,303. According to the 2009 Census, the Peoria Metropolitan Statistical Area had a population of 375,865, making it the third largest metropolitan area in the state after the Chicago metropolitan area and the Metro tan Metro-East portion of the St. Louis metropolitan area. Peoria is home to the headquarters of Caterpillar Inc., one of the 30 companies composing the Dow Jones Industrial Average. The largest employers of Peoria are largest Caterpillar, Inc. (17,338), St. Francis Hospital (5,800), Methodist Medical Hospital (3,000), XPAC packaging (1,500) and Bradley University (1,237). Peoria is home to Bradley University (6,000 students) and Illinois Central Colleg (over College 12,000 students). Peoria is centrally located between Chicago (141 miles), Indianapolis (201 miles) and St. Louis (158 miles). http://www.ci.peoria.il.us/

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CONTACT INFORMATION
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CONTACT INFORMATION

666 Dundee Road Suite 1801 Northbrook, IL 60062

Randy Blankstein President 847.562.0003 rblank@bouldergroup.com

Jimmy Goodman Partner 847.562.8500 jimmy@bouldergroup.com

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