990 S Waukegan Rd 12,000 SF Retail Building Lake Forest, IL 60045 $6,390,000 ($532.50/SF) 5% Cap Rate

?Ground leased to Fifth Third Bank (S&P: BBB+) with a corporate guarantee featuring zero landlord responsibilities. Tenant has more than 16.5 years remaining on the initial lease term with scheduled annual rental increases (CPI Escalator). The branch features a larger-than-average footprint compared to traditional bank locations, reinforcing its importance within the market. Annual deposits at this location exceed $113 Million per year
?Fifth Third Bank has operated at this location for over 23 years, demonstrating a strong and stable presence within the market. Fifth Third Bank saw continued growth in key areas in 2025, including 13% year-over-year growth in Wealth and Asset Management revenue driven by 16% growth in assets under management, and 8% growth in commercial payments revenue
?Situated in highly sought-after Lake County, known for its tax-friendly environment and ranking as the third-largest county in Chicago MSA (714,342 population). The property is directly adjacent to the Metra North Line, a commuter train to and from downtown Chicago
?The property is strategically positioned at the signalized intersection of Waukegan Rd. and Everett Road, benefiting from excellent visibility with a combined traffic count of over 22,142 vehicles per day
?The asset is located in Lake Forest, one of the wealthiest towns in America, with over 29,325 residents and an average household income of $213,600 within a 3-mile radius of the site
?Surrounded by tenants such as; Starbucks, Jimmy John's, Lou Malnati's, Sunset Foods, True Value, Fannie May Chocolate, Everett Farms, and more