US - Lubbock, TX
A$15,235,000 | 6,548 m²
Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire an NNN-Ground leased, dark Chase Bank (the “Property” or “Asset”) located in Lombard, IL in the western Chicago MSA. The Property is ideally positioned on a 0.92-acre parcel at the densely trafficked intersection of Butterfield Road and S Highland Avenue - an exit of Interstate 88 with 131,200 VPD. Although Chase Bank is not currently operating out of the Asset, there are 9.7 years of contractual rent remaining on the lease from the investment-grade tenant (A+ / Stable per S&P).
With excellent visibility and frontage along Illinois Route 56 or Butterfield Road (54,900 VPD), this property benefits from being on the hard corner of a highly trafficked retail area. The Asset is located in an outlot of Yorktown Center, a regional shopping center the features many national strong credit tenancy. The site makes for the perfect future development site with many different backfill options due to the exceptional surrounding demographics. Lombard boasts a population of over 270,000 and an average household income of $147,733 within a 5-mile radius. It is the premier retail corridor bookended by two well established Chicago suburbs.
NET LEASE STRUCTGURE WITH ATTRACTIVE INCREASES
A+ RATED INVESTMENT-GRADE RENT-BACKING FROM CHASE
STRONG INTRINSIC REAL ESTATE & OVER 54,000 VPD
IMPRESSIVE SURROUNDING DEMOGRAPHICS