<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-2021-0271
Report Date: 2024-11-09
Prepared by: Thompson Group

This report synthesizes findings for the property located at 2140 Howell Tunnel Apt. 874, Reyesside, Illinois 33017. The asset is a 249,775 sq. ft. Retail Center, originally constructed in 1976, and is currently utilized for Strip 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 31.22 acres. Our consulting structural engineer has assigned an overall rating of 'fair'. Despite this, several deficiencies were noted. Of primary concern is a minor roof leak with 'high' severity. The recommended action is: "Happen local hotel different wall season respond year remain treat form over nation.". Other minor issues were also cataloged in the full report appendix.

The environmental review, based on the assessment dated 2023-09-05, indicates that a Phase I ESA was conducted. The presence of hazardous materials on-site has been confirmed as false. Key Recognized Environmental Conditions (RECs) include potential asbestos_containing_materials, which currently no further action. Preliminary cost estimates for remediation are in the range of $105,093. 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 easement that has a 'minor' impact on development potential. The property is zoned M-1 General Commercial, allowing for uses like such and school. The financial picture is complex. The primary tenant, Thomas-Sanders, has a lease expiring 2032-07-07, generating $14,855 in monthly revenue under a Modified 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 $71,278. Further financial analysis is recommended.</data>
{
  "property_id": "PROP-DD-2021-0271",
  "report_date": "2024-11-09",
  "property_address": "2140 Howell Tunnel Apt. 874, Reyesside, Illinois 33017",
  "due_diligence_lead": "Thompson Group",
  "property_characteristics": {
    "property_type": "Retail Center",
    "square_footage": 249775,
    "year_built": 1976,
    "current_use": "Strip Mall",
    "structural_integrity": {
      "overall_rating": "fair",
      "identified_defects": [
        {
          "defect_type": "minor roof leak",
          "severity": "high",
          "recommendations": "Happen local hotel different wall season respond year remain treat form over nation.",
          "estimated_repair_cost": 74787
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "low",
          "recommendations": "Piece I then play hold create sign.",
          "estimated_repair_cost": 11561
        },
        {
          "defect_type": "outdated electrical panel",
          "severity": "high",
          "recommendations": "Wall including region picture also ask group bad.",
          "estimated_repair_cost": 69529
        }
      ]
    },
    "lot_size_acres": 31.22
  },
  "environmental_summary": {
    "phase_i_conducted": true,
    "recognized_environmental_conditions": [
      {
        "rec_type": "asbestos_containing_materials",
        "status": "no_further_action",
        "estimated_remediation_cost": 105093
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "remediated",
        "estimated_remediation_cost": 176063
      },
      {
        "rec_type": "groundwater_contamination",
        "status": "requires_further_action",
        "estimated_remediation_cost": 219164
      }
    ],
    "hazardous_materials_present": false,
    "environmental_report_date": "2023-09-05"
  },
  "legal_and_title_status": {
    "clear_title_verified": true,
    "encumbrances": [
      {
        "encumbrance_type": "easement",
        "description": "Later ever social appear sense national sometimes property seat feeling you win term no edge daughter how nature.",
        "impact_on_property": "minor"
      },
      {
        "encumbrance_type": "deed_restriction",
        "description": "Forward operation green movie fight continue stock level hit.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "mortgage",
        "description": "Tend control every positive act mention institution manage middle off.",
        "impact_on_property": "significant"
      },
      {
        "encumbrance_type": "lien",
        "description": "Do former huge amount return each coach similar cost anyone choose newspaper issue difference once rock whether before.",
        "impact_on_property": "significant"
      }
    ],
    "zoning_designation": "M-1 General Commercial",
    "permitted_uses": [
      "such",
      "school",
      "discover",
      "product",
      "no"
    ]
  },
  "financial_overview": {
    "current_leases": [
      {
        "tenant_name": "Thomas-Sanders",
        "lease_start_date": "2020-08-27",
        "lease_end_date": "2032-07-07",
        "monthly_rent": 14855,
        "lease_terms_summary": "Modified Gross lease, 5% annual escalation."
      },
      {
        "tenant_name": "Hamilton, Davis and Wilson",
        "lease_start_date": "2023-12-15",
        "lease_end_date": "2032-07-12",
        "monthly_rent": 49928,
        "lease_terms_summary": "Modified Gross lease, 4% annual escalation."
      },
      {
        "tenant_name": "Johnson, Allen and Fritz",
        "lease_start_date": "2021-02-07",
        "lease_end_date": "2031-03-10",
        "monthly_rent": 58121,
        "lease_terms_summary": "NNN lease, 3% annual escalation."
      }
    ],
    "property_taxes_annual": 71278
  }
}