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Former PNC Bank with Drive-Thru | Chicago MSA 469 N Seymour Ave 6,599 SF Vacant Retail Building Online Auction Sale Mundelein, IL 60060
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Investment Highlights
- 469 N Seymour Avenue consists of an 6,599-square-foot, freestanding former PNC Bank branch building on a 0.95-acre corner lot.
- Freestanding commercial asset equipped with a five-lane drive-thru, with potential for reuse, repositioning, or redevelopment.
- Hard-corner multi-point access and 55 surface parking spaces support convenient reachability and employee/customer parking ease.
- Highly visible and easily accessible at the corner of the four-way intersection of E Park Street and N Chicago Avenue.
- Located in a high-traffic retail corridor with strong surrounding demographics and easy access to IL-83, IL-60, and nearby commercial centers.
- Absolute auction | Starting bid $1.
Executive Summary
As the trusted advisor, JLL proudly presents the multifaceted owner/user or investment opportunity to acquire the former PNC Bank branch location at 469 N Seymour Avenue in Mundelein, Illinois. The asset is well-positioned for bank reuse, commercial repositioning, or full redevelopment on a highly visible freestanding parcel.
The corner location boasts full visibility, with direct frontage on multiple sides and a four-way intersection that sees more than 24,400 vehicles per day. Commercial synergy in the bustling corridor stems from well-established shopping centers, such as Hawley Lake Plaza, the Mundelein Shopping Center, and Fair Haven Shopping Center. The Mundelein Crossing shopping center near the highway houses big box stores like Target, The Home Depot, T.J. Maxx, and HomeGoods. National retail neighbors include Walgreens, Health Mart Pharmacy, True Value, McDonald’s, Subway, Sherwin-Williams, and Shoe Carnival.
Mundelein sits about an hour north of the Chicago metro and has redefined living in the northwest Chicago suburbs, driving household growth and consumer demand. Lively events and distinctive businesses characterize Mundelein. Mundelein’s primary shopping areas are near State Route 60 (1.7 miles) on the northwest side and in downtown Mundelein.
Most of Mundelein’s traffic flows through State Routes 176 and 60, along with Lake Street/US-45, which runs north-south over the downtown area. Advocate Condell Medical Center in Libertyville is the nearest hospital, 4 miles northeast of Mundelein, and the Chicago O’Hare International Airport is 26 miles south.
Approximately 42,147 households are within the subject’s 5-mile radius, with affluent, stable average household incomes exceeding $153,200. A robust consumer spending power of more than $1.7 billion is generated annually in the realm, with food and beverages, transportation and maintenance, and household goods accounting for the top three spending sectors.
Property tours are by appointment only. Please contact the listing broker to schedule.
All information provided on this listing page is believed to be reliable but is not guaranteed, and prospective purchasers should conduct their own independent due diligence and investigations. The seller, Ten-X, and their respective affiliates make no representations or warranties regarding the accuracy or completeness of the information and expressly disclaim any liability arising from its use or reliance thereon.
The corner location boasts full visibility, with direct frontage on multiple sides and a four-way intersection that sees more than 24,400 vehicles per day. Commercial synergy in the bustling corridor stems from well-established shopping centers, such as Hawley Lake Plaza, the Mundelein Shopping Center, and Fair Haven Shopping Center. The Mundelein Crossing shopping center near the highway houses big box stores like Target, The Home Depot, T.J. Maxx, and HomeGoods. National retail neighbors include Walgreens, Health Mart Pharmacy, True Value, McDonald’s, Subway, Sherwin-Williams, and Shoe Carnival.
Mundelein sits about an hour north of the Chicago metro and has redefined living in the northwest Chicago suburbs, driving household growth and consumer demand. Lively events and distinctive businesses characterize Mundelein. Mundelein’s primary shopping areas are near State Route 60 (1.7 miles) on the northwest side and in downtown Mundelein.
Most of Mundelein’s traffic flows through State Routes 176 and 60, along with Lake Street/US-45, which runs north-south over the downtown area. Advocate Condell Medical Center in Libertyville is the nearest hospital, 4 miles northeast of Mundelein, and the Chicago O’Hare International Airport is 26 miles south.
Approximately 42,147 households are within the subject’s 5-mile radius, with affluent, stable average household incomes exceeding $153,200. A robust consumer spending power of more than $1.7 billion is generated annually in the realm, with food and beverages, transportation and maintenance, and household goods accounting for the top three spending sectors.
Property tours are by appointment only. Please contact the listing broker to schedule.
All information provided on this listing page is believed to be reliable but is not guaranteed, and prospective purchasers should conduct their own independent due diligence and investigations. The seller, Ten-X, and their respective affiliates make no representations or warranties regarding the accuracy or completeness of the information and expressly disclaim any liability arising from its use or reliance thereon.
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Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Retail
Property Subtype
Bank
Building Size
6,599 SF
Building Class
B
Year Built
1990
Tenancy
Single
Building Height
1 Story
Building FAR
0.16
Lot Size
0.95 AC
Parcel Number
11-19-322-023
Zoning
NEC - Commercial
Parking
55 Spaces (4.61 Spaces per 1,000 SF Leased)
Moderately walkable
60/100
Moderately drivable
70/100
Some public transit
50/100
Fairly bikeable
40/100
About Central North
An ideal combination of city and suburban, the Central North region is home to some of Chicagoland’s most affluent and picturesque towns. Residents are drawn to the great schools, beautiful parks, and expansive access to Lake Michigan to the east. These amenities and many others are why so many of Chicago’s largest employers call the area their corporate homes. With easy access to Route 94, Interstate 294, and various Metra lines, employers can cull their workforce from north of the Illinois/Wisconsin border and south to downtown Chicago just 20 miles away. Workers and residents alike are also attracted to its lower overall cost of doing business relative to neighboring Cook County.
Numerous companies are headquartered here, including retailer CDW; Discover Financial; and biomedical-related firms Medline Industries, Abbott Laboratories, AbbVie, and Horizon Therapeutics. In fact, the Central North area is one of the nation’s largest biopharma clusters, with more 50 companies in the industry based here and employing over 12,000.
Demographics
Demographics
1 mile
3 mile
5 mile
2025 Population
13,201
66,681
114,087
2020 Population
13,049
64,913
108,583
2030 Population
13,341
67,623
116,260
2025-2030 Projected Population Growth
1.1%
1.4%
1.9%
Daytime Employees
3,236
30,691
62,196
Total Businesses
443
3,946
6,924
Average Household Income
$121,070
$148,411
$153,234
Median Household Income
$105,882
$121,601
$124,340
Total Consumer Spending
$154.8M
$1B
$1.7B
Median Age
38.7
42.2
42.9
2025 Households
4,427
24,458
42,147
Percent College Degree or Above
18%
29%
30%
Average Home Value
$304,311
$456,025
$484,975
Nearby Major Retailers
Sale Advisors
Sale Advisors
Shannon Pope, Managing Director
Shannon Pope currently serves as Managing Director of Retail Advisory Services based in Chicago. She specializes in all phases of national retail tenant representation including market strategy and analysis, strategy implementation of predictive analytic data, site selection, portfolio optimization, lease restructuring, and negotiation of real estate transactions.
Shannon has over 25 years of commercial real estate expertise with a focus on Retail assets. Shannon joined JLL Retail Advisory Services Group from Transwestern in 2019 and prior to that was Vice President at HSA Commercial Real Estate.
Shannon has facilitated successful negotiations of ground leases, build to suits, building leases and sale transactions. Some key tenants in these transactions include PNC Bank, JP Morgan Chase Bank, Raising Canes, Starbuck's, United States Postal Service, Nava Health, Urgent Vet, Menard's, Willowbrae Daycare and others.
Shannon also has extensive experience in healthcare real estate. As healthcare and retail real estate have evolved more attention has been placed on the patient experience which has considerable overlap with the consumers experience that retail real estate
serves.
Shannon has over 25 years of commercial real estate expertise with a focus on Retail assets. Shannon joined JLL Retail Advisory Services Group from Transwestern in 2019 and prior to that was Vice President at HSA Commercial Real Estate.
Shannon has facilitated successful negotiations of ground leases, build to suits, building leases and sale transactions. Some key tenants in these transactions include PNC Bank, JP Morgan Chase Bank, Raising Canes, Starbuck's, United States Postal Service, Nava Health, Urgent Vet, Menard's, Willowbrae Daycare and others.
Shannon also has extensive experience in healthcare real estate. As healthcare and retail real estate have evolved more attention has been placed on the patient experience which has considerable overlap with the consumers experience that retail real estate
serves.
Adam Cody, Managing Director
Adam Cody specializes in national retailer tenant representation in the Chicago market. He has experience in assisting retailers meet their expansion goals by developing comprehensive retail market strategies, and successfully negotiating sale and lease transactions.
In addition, he is adept at completing challenging urban and in-fill retail site selection requirements, relocation of existing assets and aggressive expansion of new retail concepts.
Experience
Adam has 15 years of experience in the retail real estate industry. Prior to joining JLL he was a Retail Tenant Representation Specialist at the Staubach Company / SRS Real Estate Partners.
Adam has facilitated successful negotiations in over 137 sale and lease transactions in the Chicago metro market on behalf of many high profile clients such as JCPenney, AMC Theatres, Toys"R"Us /Babies"R"Us, Verizon Wireless, 7-Eleven, Corner Bakery, Citibank, AutoNation, Famous Dave's, Discount Tire, Miller's Ale House, World of Beer and United Health Group resulting in transaction values exceeding $321M.
Additionally, Adam has strong experience working with national retailers in the disposition of surplus properties. Adam has successfully disposed of over 10 assets with transaction values exceeding $29M for clients including Target, JCPenney, Bowlmor AMF, Fry's Electronics and KrispyKreme.
Education and Affiliations
Mr. Cody earned a Bachelor's Degree in economics from the University of Illinois at Urbana – Champaign. He is an active member of the International Council of Shopping Centers (ICSC) and serves on the ICSC Illinois State Committee. Adam is also a member of Chicago Chapter of Lambda Alpha International (LAI) – Land Economics Society.
Adam is a volunteer at St. Francis Xavier Parish in LaGrange, IL.
In addition, he is adept at completing challenging urban and in-fill retail site selection requirements, relocation of existing assets and aggressive expansion of new retail concepts.
Experience
Adam has 15 years of experience in the retail real estate industry. Prior to joining JLL he was a Retail Tenant Representation Specialist at the Staubach Company / SRS Real Estate Partners.
Adam has facilitated successful negotiations in over 137 sale and lease transactions in the Chicago metro market on behalf of many high profile clients such as JCPenney, AMC Theatres, Toys"R"Us /Babies"R"Us, Verizon Wireless, 7-Eleven, Corner Bakery, Citibank, AutoNation, Famous Dave's, Discount Tire, Miller's Ale House, World of Beer and United Health Group resulting in transaction values exceeding $321M.
Additionally, Adam has strong experience working with national retailers in the disposition of surplus properties. Adam has successfully disposed of over 10 assets with transaction values exceeding $29M for clients including Target, JCPenney, Bowlmor AMF, Fry's Electronics and KrispyKreme.
Education and Affiliations
Mr. Cody earned a Bachelor's Degree in economics from the University of Illinois at Urbana – Champaign. He is an active member of the International Council of Shopping Centers (ICSC) and serves on the ICSC Illinois State Committee. Adam is also a member of Chicago Chapter of Lambda Alpha International (LAI) – Land Economics Society.
Adam is a volunteer at St. Francis Xavier Parish in LaGrange, IL.
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Former PNC Bank with Drive-Thru | Chicago MSA | 469 N Seymour Ave
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