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Midland States Bank | Abs NNN 303 Section Line Rd 8,100 SF 79% Leased Retail Building Manteno, IL 60950 $2,890,000 ($356.79/SF) 6.70% Cap Rate
Investment Highlights
- 6+ Years Remaining | Annual Rental Increases | Options to Extend
- Interstate 57 (33,600 VPD) | Dense Retail Corridor | Nearby Schools
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Strong Demographics in 5-Mile Trade Area | Six-Figure Incomes
Executive Summary
SRS Real Estate Partners-Midwest, LLC is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, Midland States Bank investment property located in Manteno, Illinois. The tenant currently has 6+ years left with 2 (10-year) options to extend, demonstrating their commitment to the site. The lease features 2% annual rental increases throughout the initial term and options thereafter, 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 March 31, 2026, the Company had total assets of approximately $6.55 billion, and its Wealth Management Group had assets under administration of approximately $4.47 billion. Bank also has a 1,672 SF office space that is currently available for sublease.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Bank
Building Size
8,100 SF
Building Class
B
Year Built
1999
Price
$2,890,000
Price Per SF
$356.79
Cap Rate
6.70%
NOI
$193,605
Percent Leased
79%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.10
Lot Size
1.78 AC
Parking
54 Spaces (6.67 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Corner Lot
- Pylon Sign
- Drive Thru
Space Availability
- Space
- Size
- Space Use
- Position
- Available
• Attractive single-story building • 1,672 SF office space currently available • Convenient to retail, residential and other office development • 0.5 miles to I-57 interchange
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,672 SF | Office | - | Now |
1st Floor
| Size |
| 1,672 SF |
| Space Use |
| Office |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 1,672 SF |
| Space Use | Office |
| Position | - |
| Available | Now |
• Attractive single-story building • 1,672 SF office space currently available • Convenient to retail, residential and other office development • 0.5 miles to I-57 interchange
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $510,419 | |
| Land Assessment | $64,993 | Total Assessment | $575,412 |
Property Taxes
Parcel Numbers
Land Assessment
$64,993
Improvements Assessment
$510,419
Total Assessment
$575,412
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