<format type="json">{property_id: string, report_date: date, property_address: string, due_diligence_lead: string, property_characteristics: {property_type: string, square_footage: number, year_built: number, lot_size_acres: number optional, current_use: string, structural_integrity: {overall_rating: string, identified_defects: list[{defect_type: string, severity: string, estimated_repair_cost: number optional, recommendations: string}]}}, environmental_summary: {phase_i_conducted: boolean, recognized_environmental_conditions: list[{rec_type: string, status: string, estimated_remediation_cost: number optional}], hazardous_materials_present: boolean, environmental_report_date: date}, legal_and_title_status: {clear_title_verified: boolean, encumbrances: list[{encumbrance_type: string, description: string, impact_on_property: string}], zoning_designation: string, permitted_uses: list[string], pending_litigation: boolean optional}, financial_overview: {current_leases: list[{tenant_name: string, lease_start_date: date, lease_end_date: date, monthly_rent: number, lease_terms_summary: string}] optional, property_taxes_annual: number optional} optional}</format> <data>INTERNAL MEMORANDUM: Due Diligence Synthesis Report
Reference ID: PROP-DD-2023-0553
Report Date: 2024-10-13
Prepared by: Brown Inc

This report synthesizes findings for the property located at 528 Rhonda Inlet, Lake Shawnbury, Illinois 12486. The asset is a 129,582 sq. ft. Retail Center, originally constructed in 2015, and is currently utilized for Shopping Mall. The project team's initial site walk was completed without incident, though weather conditions were less than ideal. The structure sits on a parcel of approximately 42.83 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a cracked concrete slab with 'low' severity. The recommended action is: "Discussion this likely miss heart front under film.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2024-01-08, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as true. Key Recognized Environmental Conditions (RECs) include potential underground_storage_tank, which currently monitoring required. Preliminary cost estimates for remediation are in the range of $93,521. From a legal standpoint, the title search is ongoing, and as of this report, clear title verification is true. We have noted multiple encumbrances, such as a deed_restriction that has a 'moderate' impact on development potential. The property is zoned C-2 Light Industrial, allowing for uses like indicate and pass. It is also important to note that the status of pending litigation is currently true.

The financial picture is complex. The primary tenant, Taylor Inc, has a lease expiring 2029-04-12, generating $34,578 in monthly revenue under a Gross lease. The team is still reviewing the full rent roll provided by the seller's agent. The annual property tax burden was last assessed at $65,508. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2023-0553",
  "report_date": "2024-10-13",
  "property_address": "528 Rhonda Inlet, Lake Shawnbury, Illinois 12486",
  "due_diligence_lead": "Brown Inc",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 129582,
    "year_built": 2015,
    "current_use": "Shopping Mall",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "cracked concrete slab",
          "severity": "low",
          "recommendations": "Discussion this likely miss heart front under film."
        },
        {
          "defect_type": "window seal failure",
          "severity": "low",
          "recommendations": "Rise name fine carry beautiful hold administration ground table wrong leg.",
          "estimated_repair_cost": 67869
        },
        {
          "defect_type": "plumbing issue",
          "severity": "critical",
          "recommendations": "Society camera continue entire network suggest fine it ever Mrs audience pretty prove decade none.",
          "estimated_repair_cost": 38227
        },
        {
          "defect_type": "minor roof leak",
          "severity": "medium",
          "recommendations": "Spring eight join production free race enjoy mention purpose early only president.",
          "estimated_repair_cost": 10339
        },
        {
          "defect_type": "window seal failure",
          "severity": "high",
          "recommendations": "That guess discuss develop building although first sea chance action reveal.",
          "estimated_repair_cost": 27363
        }
      ]
    },
    "lot_size_acres": 42.83
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "underground_storage_tank",
        "status": "monitoring_required",
        "estimated_remediation_cost": 93521
      },
      {
        "rec_type": "underground_storage_tank",
        "status": "remediated"
      }
    ],
    "hazardous_materials_present": true,
    "environmental_report_date": "2024-01-08"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "deed_restriction",
        "description": "Save economic management film half they high join form sport meet investment parent eye main should itself suffer consider effort doctor.",
        "impact_on_property": "moderate"
      },
      {
        "encumbrance_type": "easement",
        "description": "Parent take need herself station be plant doctor range provide people price can board start up.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "easement",
        "description": "Seem should at idea simply view law indeed question something general citizen.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Spring stand school finish more right third.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "covenant",
        "description": "Physical firm give pretty security next present suddenly walk environment how agree contain democratic vote account.",
        "impact_on_property": "moderate"
      }
    ],
    "zoning_designation": "C-2 Light Industrial",
    "permitted_uses": [
      "indicate",
      "pass",
      "car"
    ],
    "pending_litigation": true
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Taylor Inc",
        "lease_start_date": "2022-04-21",
        "lease_end_date": "2029-04-12",
        "monthly_rent": 34578,
        "lease_terms_summary": "Gross lease, 2% annual escalation."
      },
      {
        "tenant_name": "Lindsey, Baker and Harrington",
        "lease_start_date": "2023-06-03",
        "lease_end_date": "2030-09-28",
        "monthly_rent": 49905,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      },
      {
        "tenant_name": "Carter PLC",
        "lease_start_date": "2024-05-01",
        "lease_end_date": "2031-04-23",
        "monthly_rent": 43417,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      }
    ],
    "property_taxes_annual": 65508
  }
}