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Bank of America | Recent Extension 251 E Maple St 5,773 SF Retail Building New Lenox, IL 60451 $5,704,000 ($988.05/SF) 6.25% Cap Rate

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Investment Highlights

Corporately Guaranteed | Recently Exercised Option
Located Along Growing Retail Corridor | Strong Tenant Growth
Recently Renovated Interior | Modern Tenant Investment

Strategic Location Adjacent to Commuter Rail | High Daily Traffic | Regional Connectivity
Exceptional Retail Synergy | National Co-Tenants | High Visibility
Proximity to Silver Cross Hospital and the New Lenox Crossroads Sports Complex Development

Executive Summary

SRS National Net Lease Group is pleased to present the opportunity to acquire the leased fee interest (land ownership) in a NN+ (near-absolute NNN), freestanding, corporate guaranteed (NYSE: BAC), investment grade (S&P: A-) Bank of America branch property located in New Lenox, Illinois, part of the Chicago Metropolitan Statistical Area (MSA). The tenant, Bank of America, N.A., has approximately five (5) years remaining on the current lease term with four (4), five-year options to extend, reflecting the bank’s long-term commitment to the location. The lease is NN+ with the landlord responsible only for 80% of structural and capital improvements, offering near-passive income with limited management obligations. The property underwent a complete interior renovation in 2021, aligning with Bank of America’s modern branch design and enhancing long-term viability.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Bank

Building Size

5,773 SF

Building Class

Year Built/Renovated

2004/2021

Price

$5,704,000

Price Per SF

$988.05

Cap Rate

6.25%

NOI

$356,484

Tenancy

Single

Building Height

1 Story

Building FAR

0.08

Lot Size

1.63 AC

Zoning

C1 - Commercial

Parking

52 Spaces (9.01 Spaces per 1,000 SF Leased)

Banking
Corner Lot

Dedicated Turn Lane
Freeway Visibility

Signage

Monument Signage

Finance and Insurance
99,999 SF
$9.99
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Bank of America traces part of its history to the Bank of Italy, founded in 1904, and the modern company emerged through later mergers and expansion. The company serves individuals, small- and middle-market businesses, large corporations, and governments with banking, investment management, and financial risk management products and services. Bank of America’s current business lines include consumer banking, global wealth and investment management, global banking, and global markets, with digital banking and cash management platforms supporting client activity. The company reports a broad presence across retail, commercial, institutional, and wealth channels as part of its wider financial services franchise.