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250 W 83rd St
Chicago, IL 60620
Bank of America · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Full-Service Extended-Hours Bank Branch with Longstanding Operating History
- History of Branch Consolidation Into this Site
- Top-Ranked Deposit Base Location
- Excellent Visibility with Immediate Access to Major Interstate
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a ground lease interest in the Bank of America located in Chicago, IL (“The Property”). The Property consists of a 4,000-square-foot freestanding retail bank building on a 1.23-acre parcel of land. The Property was built in 2010 and features a drive-through banking option. Bank of America is operating under an absolute NNN ground lease with more than five (5) years remaining.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
4,000 SF
Building Class
B
Year Built
2010
Price
$3,827,000
Price Per SF
$956.75
Cap Rate
8%
NOI
$306,160
Tenancy
Single
Building Height
1 Story
Building FAR
0.07
Lot Size
1.23 AC
Zoning
C-2
Frontage
343’ on W 83rd
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $221,578 | |
| Land Assessment | $105,615 | Total Assessment | $327,193 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$105,615
Improvements Assessment
$221,578
Total Assessment
$327,193
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