8700 S Cottage Grove Ave
Chicago, IL 60619
PNC Bank (Ground Lease) · Retail Property For Sale

The Boulder Group is pleased to exclusively market for sale a single tenant PNC Bank ground lease located in the city of Chicago. The property is strategically positioned at a heavily trafficked signalized intersection. There are 22 years remaining on the PNC Bank ground lease which expires in January 2039. The ground lease features 10% rental escalations every five years throughout the primary term and in each of the three 10-year renewal option periods. PNC Bank is publicly traded on the New York Stock Exchange (Symbol: PNC) with a market capitalization in excess of $46 billion. PNC Bank is an investment grade rated tenant with a Standard & Poor' s rating of A-. The PNC Bank property is strategically positioned at the heavily trafficked signalized intersection of South Cottage Grove Avenue and East 87th Street. The intersection experiences traffic volumes in excess of 41,300 vehicles per day. The property is also less than one-mile east of Interstate-94 with direct on and off access to the approximate 231,400 vehicles per day. The immediate area is densely concentrated provided for high barriers to entry. There are approximately 34,700 people living within a one mile radius of the property. The PNC Bank property is centrally located in a retail corridor which features Target, Nike Factory Store, Dollar Tree, AT&T Wireless, Walgreens, Advance Auto Parts, and many other national & local retailers.