Chase Bank | Corp Abs NNN Ground Lease 16767 Torrence Ave 4,214 SF Retail Building Lansing, IL 60438 $2,500,000 ($593.26/SF) 5.50% Cap Rate
INVESTMENT HIGHLIGHTS
- Corporate Guaranteed Ground Lease | Options To Extend | Scheduled Rental Increases
- Walking Distance To River Oaks Center | Primary Retail Corridor
- Absolute NNN | Leased Fee Ownership | Zero Landlord Responsibilities
- Strong Demographics In 5-Mile Trade Area
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee (land ownership) in an absolute NNN leased, Chase Bank investment property located in Lansing, Illinois. The tenant, Chase Bank, has 5-years remaining on their original 20-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. As of June 2024, this branch has over $42MM of deposits, up from $24MM five years ago (75% Increase).
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,214 SF
Building Class
B
Year Built
2009
Price
$2,500,000
Price Per SF
$593.26
Cap Rate
5.50%
NOI
$137,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.40
Lot Size
0.24 AC
Zoning
B3 - General Business
Parking
45 Spaces (10.68 Spaces per 1,000 SF Leased)
AMENITIES
- Freeway Visibility
- Pylon Sign
- Signage
- Drive Thru
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Finance and Insurance
-
99,999 SF
- -
-
Lorem Ipsum
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Jan 0000
Chase Bank is proud to serve millions of people with a broad range of financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing. Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with trillions of dollars in assets and operations worldwide.
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Finance and Insurance | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 30-19-300-023-0000 | Improvements Assessment | $124,639 |
| Land Assessment | $4,107 | Total Assessment | $128,746 |
