JPMorgan Chase Bank - Wauconda, IL (Chicago MSA)

Jones Lang LaSalle Americas, Inc. (“JLL”) is pleased to offer the opportunity to acquire the ground lease interest in a freestanding single-tenant Chase Bank located at 488 W Liberty Street in Wauconda, IL.

This Asset features an investment grade corporate guaranty from JPMorgan Chase Bank (S&P: ‘A-’) and is operating on a 20-year absolute triple net lease with zero landlord responsibilities and four, five-year renewal options. Notably, the Tenant reported $181.3M in deposits in 2022, which represents an outstanding 80% deposit growth since 2017.

Located 45 miles northwest of downtown Chicago, the Property is positioned in a highly affluent suburb with access to over 70,000 residents in a five-mile radius. The Property’s retail submarket, Central Northwest, boasts 14.5 million square feet of inventory and is supply constrained with 6.3% vacancy. The submarket performs exceptionally well with 10.9% rent growth since 2019. Situated across from Liberty Square Shopping Center, the area has attracted notable national tenants including Jewel-Osco, Tractor Supply, Dollar Tree, and Ace Hardware, among many others.

This rare opportunity allows investors the ability to acquire a high performing bank branch located in a fundamentally strong and affluent Chicago suburb. The asset offers secure, long-term cash flow backed by one of the world’s largest financial institutions.